The move earlier this month by U.S. hedge fund Steel Partners to acquire Sapporo Holdings Ltd. is again raising the specter in corporate Japan of foreign raiders taking over established Japanese companies to turn a quick profit.
But, by the same token, some analysts assert the practice also gives Japanese industries a much-needed push to realign.
In December, Steel Partners earned several billion yen when it sold its stake in instant-noodle maker Myojo Foods Co. to industry leader Nissin Food Products Co. after Myojo pursued a capital alliance with Nissin to ward off a hostile takeover by the U.S. investment fund.