Overseas M&As by Japan Firms Hit Record High for Third Straight Year (News)
Tokyo, April 5 (Jiji Press)—The total value of overseas mergers and acquisitions by Japanese companies in fiscal 2016 that ended last month increased 33.8% from the previous year to ¥10,912.7 billion, extending the record-setting streak to a third year, an industry survey showed Wednesday.
According to M&A advisory firm Recof Corp., the number of deals went up 5.7% to 627, also a record high.
The results showed that Japanese companies in a wider range of sectors, including telecommunications, insurance and manufacturing, have been seeking business opportunities abroad amid continued shrinkage of domestic markets.
The most expensive deal was the acquisition of British chip design house ARM Holdings PLC by Softbank Group Corp., worth ¥3.3 trillion, accounting for about one third of the total value for fiscal 2016.
Other large-scale deals included the acquisition of Eastern European beer businesses by Asahi Group Holdings Ltd., worth some ¥890 billion, the purchase of a US insurance company by Sompo Japan Nipponkoa Insurance Inc., worth around ¥640 billion, and the takeover of a US drug maker by Takeda Pharmaceutical Co. worth some ¥630 billion.[Copyright The Jiji Press, Ltd.]