M&A activity across the Asia region was mixed in 2025, with
strong pockets of deal activity in certain areas offsetting global
uncertainty.
However, there were reasons for optimism, as deal values rose by
one third compared to 2024, with Japan and India being key drivers
of this growth.
Despite geopolitical and economic headwinds, investor appetite
remained strong, particularly in the digital infrastructure,
financial services, energy transition, industrials and healthcare
sectors, which provides cautious optimism as we begin 2026.
Southeast Asia
Southeast Asia made a significant contribution to overall deal
activity across Asia – albeit with fewer mega-deals and more
small or mid-sized deals leading the way.