Hello, I only created an account to post this message. Please edit it as you see fit if this violates any of the forum rules.
I was facing the same problem, (could not find the savedata folder). I solved it using Sysutil Process Monitor and got the file location. As this question is still unsolved, I thought I would share my finding with the community.
On my machine (Windows 10), the save files were being stored in:
C:\Users\<Username>\AppData\Local\VirtualStore\Program Files (x86)\Kara No Shoujo\savedata
Have a nice day.