M&As by Japanese Firms Hit Record High in 2017 (News)
Tokyo, Jan. 4 (Jiji Press)—The number of mergers and acquisitions involving Japanese firms in 2017 grew 15.0% from the previous year to 3,050, rewriting a record high for the first time in 11 years, an industry survey showed Thursday.
The figure topped the previous record of 2,775, marked in 2006, according to Tokyo-based M&A advisory firm Recof Corp.
The 2017 growth reflected brisk investment in startups for acquiring new technologies, including artificial intelligence.
The overall value of the deals, however, fell 21.0% to ¥13,343.7 billion as there were many small and midsize M&A cases.
Large-scale deals targeting domestic firms included the purchase of Toshiba Corp.'s Toshiba Memory Corp. unit by a Japanese-US-South Korean consortium led by US private equity fund Bain Capital.[Copyright The Jiji Press, Ltd.]