M&A In Japan In 2024

FW discusses M&A in Japan in 2024 with Ryuichi Shiomi, Masatsugu Nakajima, Jun Fukuda and Risa Fukumoto at Anderson Mōri & Tomotsune.

FW: Could you provide an overview of the key factors driving M&A activity in Japan? How would you characterise the impact of macroeconomic developments?

Shiomi: One of the most notable M&A trends in Japan is the increase in shareholder activism. Over the past 10 years, activist campaigns directed at Japanese companies have increased dramatically, and an increasing number of companies have started taking into consideration issues such as return on equity and price to earnings ratio in order to accommodate shareholder interests. Carve out deals are also on the increase in order to improve shareholder profits and the outlooks of portfolios held by large listed companies, and also to take into account factors such as zero-carbon goals and sustainable development goals requirements. Other factors affecting recent M&A trends include an