US private equity heavyweight KKR has acquired all shares in Japan-based drug contract manufacturer Bushu Pharmaceuticals from pan-Asian private equity firm Baring Private Equity Asia, which is owned by EQT AB.

While the financial specifics of the deal were not disclosed by the company, the transaction price was reported to stand at upwards of 100 billion yen ($752 million), according to Bloomberg which cited people familiar with the matter in August.

Following the acquisition, KKR will work with Bushu’s management team to scale up its business into new and growing segments, such as injectables, and put money into capacity expansion and quality control. Additionally, the partners will explore organic and inorganic opportunities for growth to offer more healthcare services.

The transaction, which is facilitated through one of KKR’s Asia-focused investment funds, is expected to be completed in the first quarter of 2023 upon receiving customary approval and closing conditions, according to a release on Tuesday.

“We are  proud to invest in the growth and success of Bushu Pharma, a premier manufacturer for pharmaceutical  businesses. We see significant demand for strategic and reliable solutions to address a range of challenges facing  the global healthcare industry,” said Hiro Hirano, co-head of private equity for KKR Asia Pacific and chief executive officer of KKR Japan.

BPEA, which recently completed a merger with one of the world’s largest buyout firms EQT, purchased Bushu from a fund advised by Tokio Marine Capital for 77.3 billion yen ($670 million) in 2014.

KKR has been actively investing in the world’s third-largest economy in the last quarter of the year. Just last month, the private equity giant announced the takeover of Japanese multinational conglomerate Hitachi’s logistics subsidiary, Hitachi Transport System.