(March 1, 2011)

HONG KONG—U.S. private equity firm Carlyle Group plans to buy Japanese bearings parts maker Tsubaki Nakashima Co. from Nomura Holdings Inc. for around 70 billion yen ($855.6 million) including debt, a person familiar with the matter said.

Nomura's unit Nomura Principal Finance Co. acquired the company in February 2007 for 101.4 billion yen according to its website.

Private-equity firms use a mixture of debt and their own funds to make investments. During the financial crisis the availability of credit dried up and deal-making slowed dramatically. In 2007 the volume of private equity deals in Japan hit $11.5 billion across 135 deals; that figure dropped to $3.4 billion across 70 transactions in 2010, according to data provider Dealogic.

Also, private-equity funds have long struggled to source deals in Japan as managers are generally reluctant to sell them assets, fearing social stigma if the funds lay off employees and weigh companies down with debt.

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