A fund investing in Japanese companies that are expected to be in the crosshairs of takeover bids will launch on Friday in a reflection of the impact of the country’s corporate governance reforms.
Fivestar Asset Management will start an equity investment trust that invests in firms that may be taken over by their parent or other companies due to the dissolution of parent-subsidiary listings.
Japan has already seen 24 takeover bids, or TOBs, so far in 2025, according to data compiled by Bloomberg as of Tuesday. If that pace is sustained, they may exceed 100 this year for the first time ever. In 2024, there were already 94 such deals, the most since at least 1998.
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