Bain Is Said to Seek $1 Billion for Japanese Hot Spring Operator

Bain Capital has revived a plan to sell Ooedo Onsen Monogatari, an operator of about 38 hot spring inns and resorts across Japan, according to people with knowledge of the matter.

The U.S. investor is seeking to raise at least $1 billion from the sale, said the people, asking not to be identified as the information is private. Boston-based Bain bought the Japanese company in 2015 for about 50 billion yen ($449 million), the Nikkei newspaper reported at the time.

Bain has approached a few suitors in China, the people said. Deliberations are at an early stage and Bain may ...