(Bloomberg) -- Longreach Group is considering selling Japanese industrial technology company Fujitsu Component Ltd. after the Asian buyout firm received interest from potential buyers, according to people familiar with the matter.

Longreach is working with a financial adviser on the potential divestment, said the people, who asked not to be identified as the information is private. A transaction could value the components maker at $500 million to $1 billion, the people said.

Other investment funds and companies in the industry have shown preliminary interest in Fujitsu Component, the people said. No final decisions have been made and the owner could still decide against pursuing a deal, the people said.

A representative for Longreach declined to comment.

Established in 2001, Fujitsu Component makes and sells electronic components and modules such as relays, resistive touch panels and sensors for areas including automation, automotive, green energy and health care, according to its website. The Tokyo-based company had 2,215 employees as of the end of March. It runs manufacturing and research facilities in Japan, China and Malaysia.

In 2018, Longreach took Fujitsu Component private alongside the iconic Japanese conglomerate Fujitsu Ltd. and the company was delisted later.

Longreach was founded in 2003 and focuses on buying controlling company interests in Japan, with a related focus on Greater China and elsewhere in Asia more broadly, according to its website. The firm, based in Tokyo and Hong Kong, invests in sectors such as industrials, technology, consumer and business services.

©2023 Bloomberg L.P.