Japan’s dealmakers are expecting a busier 2025 after more than ¥36.4 trillion ($230 billion) in mergers and acquisitions last year, underpinned by companies’ changing attitudes around business expansion.
Sitting on ample cash and trading at low valuations, firms in Japan are becoming more proactive to fend off global rivals and activist investors showing renewed interest in the country after decades of stagnant growth.
Some businesses are opting to expand quickly through high-profile global acquisitions — with Nippon Steel going so far as to sue U.S. officials to pursue a deal. Others including Honda are considering options once unthinkable: merging with rivals, or, in the case of Fuji Soft, working with private equity funds on a buyout.
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