Asia Tech Wire (Oct 29) -- Two U.S. private equity firms are fighting a major takeover battle for a Japanese company.

For Japan, it's the clearest sign yet of a new era.

KKR and Bain Capital are vying for control of Japanese systems developer Fuji Soft.

KKR was the first to make a takeover bid, winning the support of Fuji Soft's board and some major shareholders.

But Bain Capital then made an offer 7.4% higher than KKR's, valuing Fuji Soft at nearly $4.2 billion.