The state-backed corporate bailout agency is close to picking Kao Corp. and three investment funds as the buyer of Kanebo Ltd. and Kanebo Cosmetics Inc. as it entered the final phase of selection proceedings, sources said Tuesday.
The Industrial Revitalization Corp. of Japan is expected to hold a meeting of its policy committee as early as next week to approve the selection of the Kao, MKS Partners Ltd., Advantage Partners Inc. and Unison Capital Inc. camp, the sources said.
The alliance is one of three finalists IRCJ named as a result of Thursday's third and final round of bid acceptances from would-be purchasers.