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Japan Today
29-06-2025
- Business
- Japan Today
Japan hits M&A record of $232 billion, driving Asia deals rebound
By Anton Bridge, Miho Uranaka and Kane Wu Japan is driving Asia's M&A rebound in 2025 with a record $232 billion worth of deals in the first half, and bankers expect the trend to sustain fueled by multi-billion dollar take-private arrangements, outbound investments and private equity activity. Management reforms to tackle chronic low valuations among Japanese firms are spurring a flurry of foreign and activist investor interest, while Japan's low interest rates - which support deals - mean the appetite for more deals remains strong, bankers say. The deals involving Japanese companies more than tripled in value in the first half, while in the same period Asia M&A value reached $650 billion, more than double the amount year-on-year, LSEG data showed. Bankers say government calls for better corporate governance, including the privatisation of listed subsidiaries, as well as outbound acquisitions by Japanese firms seeking new growth avenues will keep igniting mega deals. Moreover, Japan has been relatively insulated from global volatility despite the broader geopolitical and macroeconomic uncertainty, helping to underpin deals momentum, they say. A cohort of Toyota Motor group companies and telecoms giant Nippon Telegraph and Telephone took private listed subsidiaries in deals worth $34.6 billion and $16.5 billion respectively, among the largest transactions globally. "There are many other deals like these on the way and their number is increasing," said Kei Nitta, global head of M&A at Nomura Securities. SoftBank Group also led a new fundraising of up to $40 billion into ChatGPT maker OpenAI in the biggest private tech funding round in history. The long-standing trend of Japanese firms looking abroad for growth opportunities in the face of a shrinking home market has continued despite heightened uncertainty in the global economy. Japanese financial institutions, such as insurer Dai-ichi Life and Nomura Holdings, announced major deals and bankers say demand remains robust across industries. "Debates over tariffs and foreign conflicts mean that some investment decisions are taking longer than usual and some customers have become more cautious, but we consider appetite for investment itself to remain very strong," Nitta said. Japanese firms themselves have also become more attractive acquisition targets as global firms have reconsidered their supply chains and distribution of resources over the past two years, Nitta added. However, there are some hurdles that could slow dealmaking in Japan. Uncertainty around the global economic outlook has made assessing companies' future prospects more difficult, leading to a disconnect in valuation expectations between buyers and sellers. This has caused an increasing number of deals to fail, said Atsushi Tatsuguchi, head of the M&A advisory group at Mitsubishi UFJ Morgan Stanley Securities. As part of the corporate reform drive, firms are under rising pressure to offload non-core business units, with private equity funds increasingly the destination for the hived off parts. Convenience store operator Seven & I Holdings – itself the target of a buyout bid from Canadian rival Alimentation Couche-Tard – sold off a bundle of its superstores and other peripheral business units to Bain Capital for some $5.5 billion in March. "Carve-outs of operating companies' non-core assets will continue to be a trend in the near term," said senior deputy head of M&A advisory at SMBC Nikko Securities, Yusuke Ishimaru. Bankers say there is a strong pipeline of potential deals involving private equity firms. Potential deals to be announced in the second half include an acquisition of Japanese cybersecurity firm Trend Micro which has a market value of 1.32 trillion yen ($8.54 billion). Bidders included Bain Capital and EQT, Reuters reported earlier this year. "Private equity funds are also seen as promising buyers for taking listed companies private," Ishimaru said. © Thomson Reuters 2025
Business Times
26-06-2025
- Business
- Business Times
Japan hits M&A record of US$232 billion, driving Asia deals rebound
[TOKYO/HONG KONG] Japan is driving Asia's mergers and acquisitions (M&A) rebound in 2025 with a record US$232 billion worth of deals in the first half, and bankers expect the trend to sustain, fuelled by multi-billion dollar take-private arrangements, outbound investments and private equity activity. Management reforms to tackle chronic low valuations among Japanese firms are spurring a flurry of foreign and activist investor interest, while Japan's low interest rates, which support deals, mean the appetite for more deals remains strong, bankers say. The deals involving Japanese companies more than tripled in value in the first half, while in the same period Asia M&A value reached US$650 billion, more than double the amount year on year, LSEG data showed. Bankers say government calls for better corporate governance, including the privatisation of listed subsidiaries, as well as outbound acquisitions by Japanese firms seeking new growth avenues, will keep igniting mega deals. Moreover, Japan has been relatively insulated from global volatility despite the broader geopolitical and macroeconomic uncertainty, helping to underpin deals momentum, they say. A cohort of Toyota Motor group companies and telecoms giant Nippon Telegraph and Telephone took private listed subsidiaries in deals worth US$34.6 billion and US$16.5 billion respectively, among the largest transactions globally. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'There are many other deals like these on the way and their number is increasing,' said Kei Nitta, global head of M&A at Nomura Securities. SoftBank Group also led a new fundraising of up to US$40 billion into ChatGPT maker OpenAI in the biggest private tech funding round in history. The long-standing trend of Japanese firms looking abroad for growth opportunities in the face of a shrinking home market has continued despite heightened uncertainty in the global economy. Japanese financial institutions, such as insurer Dai-ichi Life and Nomura Holdings, announced major deals and bankers say demand remains robust across industries. 'Debates over tariffs and foreign conflicts mean that some investment decisions are taking longer than usual and some customers have become more cautious, but we consider the appetite for investment itself to remain very strong,' Nitta said. Japanese firms themselves have also become more attractive acquisition targets as global firms have reconsidered their supply chains and distribution of resources over the past two years, Nitta added. However, there are some hurdles that could slow dealmaking in Japan. Uncertainty around the global economic outlook has made assessing companies' future prospects more difficult, leading to a disconnect in valuation expectations between buyers and sellers. This has caused an increasing number of deals to fail, said Atsushi Tatsuguchi, head of the M&A advisory group at Mitsubishi UFJ Morgan Stanley Securities. As part of the corporate reform drive, firms are under rising pressure to offload non-core business units, with private equity funds increasingly the destination for the hived-off parts. Convenience store operator Seven & I Holdings – itself the target of a buyout bid from Canadian rival Alimentation Couche-Tard – sold off a bundle of its superstores and other peripheral business units to Bain Capital for some US$5.5 billion in March. 'Carve-outs of operating companies' non-core assets will continue to be a trend in the near term,' said senior deputy head of M&A advisory at SMBC Nikko Securities, Yusuke Ishimaru. Bankers say there is a strong pipeline of potential deals involving private equity firms. Potential deals to be announced in the second half include an acquisition of Japanese cybersecurity firm Trend Micro which has a market value of 1.3 trillion yen (S$811.5 billion). Bidders included Bain Capital and EQT, Reuters reported earlier this year. 'Private equity funds are also seen as promising buyers for taking listed companies private,' Ishimaru said. REUTERS
New Straits Times
26-06-2025
- Business
- New Straits Times
Japan hits M&A record of US$232bil, driving Asia deals rebound
TOKYO/HONG KONG: Japan is driving Asia's M&A rebound in 2025 with a record US$232 billion worth of deals in the first half, and bankers expect the trend to sustain fuelled by multi-billion dollar take-private arrangements, outbound investments and private equity activity. Management reforms to tackle chronic low valuations among Japanese firms are spurring a flurry of foreign and activist investor interest, while Japan's low interest rates - which support deals - mean the appetite for more deals remains strong, bankers say. The deals involving Japanese companies more than tripled in value in the first half, while in the same period Asia M&A value reached US$650 billion, more than double the amount year-on-year, LSEG data showed. Bankers say government calls for better corporate governance, including the privatisation of listed subsidiaries, as well as outbound acquisitions by Japanese firms seeking new growth avenues will keep igniting mega deals. Moreover, Japan has been relatively insulated from global volatility despite the broader geopolitical and macroeconomic uncertainty, helping to underpin deals momentum, they say. A cohort of Toyota Motor group companies and telecoms giant Nippon Telegraph and Telephone took private listed subsidiaries in deals worth US$34.6 billion and US$16.5 billion respectively, among the largest transactions globally. "There are many other deals like these on the way and their number is increasing," said Kei Nitta, global head of M&A at Nomura Securities. SoftBank Group also led a new fundraising of up to US$40 billion into ChatGPT maker OpenAI in the biggest private tech funding round in history. The long-standing trend of Japanese firms looking abroad for growth opportunities in the face of a shrinking home market has continued despite heightened uncertainty in the global economy. Japanese financial institutions, such as insurer Dai-ichi Life and Nomura Holdings, announced major deals and bankers say demand remains robust across industries. "Debates over tariffs and foreign conflicts mean that some investment decisions are taking longer than usual and some customers have become more cautious, but we consider appetite for investment itself to remain very strong," Nitta said. Japanese firms themselves have also become more attractive acquisition targets as global firms have reconsidered their supply chains and distribution of resources over the past two years, Nitta added. However, there are some hurdles that could slow dealmaking in Japan. Uncertainty around the global economic outlook has made assessing companies' future prospects more difficult, leading to a disconnect in valuation expectations between buyers and sellers. This has caused an increasing number of deals to fail, said Atsushi Tatsuguchi, head of the M&A advisory group at Mitsubishi UFJ Morgan Stanley Securities. As part of the corporate reform drive, firms are under rising pressure to offload non-core business units, with private equity funds increasingly the destination for the hived off parts. Convenience store operator Seven & I Holdings – itself the target of a buyout bid from Canadian rival Alimentation Couche-Tard – sold off a bundle of its superstores and other peripheral business units to Bain Capital for some US$5.5 billion in March. "Carve-outs of operating companies' non-core assets will continue to be a trend in the near term," said senior deputy head of M&A advisory at SMBC Nikko Securities, Yusuke Ishimaru. Bankers say there is a strong pipeline of potential deals involving private equity firms. Potential deals to be announced in the second half include an acquisition of Japanese cybersecurity firm Trend Micro which has a market value of 1.32 trillion yen (US$8.54 billion). Bidders included Bain Capital and EQT, Reuters reported earlier this year.
Japan Today
25-05-2025
- Business
- Japan Today
Toyama governor declares ambition to make prefecture sushi capital of Japan
By Masayoshi Sakamoto What comes to mind when you think of Japan's most iconic cuisine? For many, the answer is likely sushi. In a 2023 survey by Norinchukin Bank targeting inbound tourists, sushi was named the 'most delicious meal' visitors had during their stay in Japan. If Japan is sushi's global home, where within Japan does it truly belong? For many foreign visitors, few connect it with one specific place. After all, high-quality sushi can be enjoyed all over the country. Still, one local government is hoping to change that. As part of a bold regional branding project, Toyama Prefecture has declared itself Japan's new sushi capital. Toyama declares itself the sushi capital of Japan Governor Nitta announces the Sushi Capital project. Image: Toyama Prefecture Sushi — or more precisely nigiri-zushi (slices of raw fish atop seasoned rice) was born in Tokyo (then Edo) in the early 1800s. So it came as a surprise when, at the end of 2023, the Toyama Prefectural Government's Public Relations and Branding Promotion Office held a press conference to declare itself the new capital of the sushi world. At the time, I happened to be visiting a famous sushi restaurant in Tokyo. I asked the chef, 'Toyama is calling itself the capital of sushi now. What do you think?' He simply scoffed and said nothing more. Still, Toyama's claim isn't without merit. There's logic behind the bold move. One of the most crucial components of good sushi is the seafood. Governor Hachiro Nitta explains that Toyama Bay — often called 'a natural live fish tank' — is home to around 500 species of fish. This rich marine biodiversity, he says, is what makes Toyama's sushi so appealing. The sea floor of Toyama Bay plunges steeply close to shore, meaning fishing grounds are near the ports. This allows fish to be brought in fresh, sometimes caught just offshore using set nets, a traditional method well-suited to catching sushi-grade seafood. Toyama also ranks high in rice production. When measured by production per unit of suitable farmland, the prefecture ranks among Japan's best. Despite having limited arable land, its rice-growing output is top-class. Governor Nitta continues that the real appeal of Toyama sushi lies in the skill of chefs, who identify the perfect timing to capture both the crunchy texture of the seafood and the peak of its umami flavor. Toyama's sushi stands out not only for its ingredients but also for the craftsmanship that brings out the best in both. Nitta asserts that no other place offers quite the same experience. Inside Toyama's 10-year branding campaign Toyama sushi: A treasure trove of fresh seafood like firefly squid and glass shrimp. Image: Toyama Tourism Organization It's worth repeating: Toyama's self-declaration is part of a broader. long-term branding project. As the head of the Sushi Branding Promotion Headquarters, Governor Nitta is overseeing a 10-year project with two major goals: A 90% recognition rate outside Toyama associating the prefecture with sushi. A 90% rate of residents willing to recommend Toyama sushi to friends outside the prefecture. The initiative includes PR videos, promotional events, partnerships with local crafts and talent development in both sushi-making and aquaculture. In a playful twist, Toyama has incorporated sushi-themed designs into its official business cards. When handing them out, prefectural staff often share their favorite sushi toppings as an icebreaker. The campaign has already generated buzz. Nitta notes that more local restaurants are promoting sushi as their signature dish. Local companies have created items like sushi-themed pins, sake cups and other crafts using their project's logo. Also reportedly in development is the opening of a sushi chef training school led by the private sector. In February alone, media exposure was valued at over ¥50 million (approximately US$330,000), reinforcing the project's impact. The Toyama sushi challenge: aging chefs and rising rivals In Toyama, many sushi chefs are aging, and successors are in short supply. Image: shige hattori/Pixta Still, whether the campaign will achieve its goal remains uncertain. There were no universally accepted facts supporting Toyama's 'sushi capital of Japan' claim before this initiative. Toyama historically lags behind. According to Terutoshi Hibino's 'Sushi Dictionary,' nigiri sushi, which originated in Edo in the early 1800s, spread across Japan in the early to mid-1900s. The Toyama Prefectural Library estimates Toyama's sushi history is about 100 years behind Tokyo's. There are also demographic challenges, as well. In Toyama, many sushi chefs are aging, and successors are in short supply. A prefectural survey of local sushi restaurants found that about half of them had chefs aged 60 or older, and only about 20% had confirmed successors. Meanwhile, competition is emerging. Kitakyushu City began its own sushi-themed branding strategy in 2025. Regarding the key strength of fresh seafood, Japan is surrounded by excellent fishing grounds, and rival regions such as Hokkaido and neighboring Ishikawa Prefecture have competitive seafood products that make it difficult to claim superiority. This decade-long branding project also coincides with Governor Nitta's term in office. While the current administration appears stable, a change in leadership could jeopardize the project's continuity. Beyond sushi: Toyama's vision for regional revival Governor Nitta believes that recognitionof Toyama Prefecture will raise locals pride, revitalize the regional economy and enhance community life. Image: hiroko/Pixta While there are many points to consider, Nitta says he aims first to introduce Toyama's appeal through accessible sushi, then increase interest in the prefecture, and ultimately expand the number of people who return regularly and develop deep connections with the region. He believes that recognition and appreciation of Toyama will raise residents' sense of self-worth, contribute to the revitalization of the regional economy and enhance community life — ultimately improving well-being. Whether increased recognition through sushi can enrich local life remains to be seen, but the project is already underway. So far, reactions from residents have been mixed: some positive, some negative and some indifferent. Is Toyama worth the claim it's making? That's something that each visitor will have to decide for themselves. © Japan Today
Yahoo
07-04-2025
- Politics
- Yahoo
Hundreds gather to honor Mia Love during viewing at the Capitol
Hundreds gathered at the Utah State Capitol on Sunday evening to pay their respects during a memorial viewing for former Utah Congresswoman Mia Love. Love died on March 23 at 49 after fighting glioblastoma multiforme, a type of brain cancer she had battled for three years. She spent her last moments surrounded by family and friends at her home. Her public memorial service will be held Monday, April 7, at 10 a.m. at The Church of Jesus Christ of Latter-day Saints Institute of Religion on the University of Utah campus, 1780 S. Campus Dr., in Salt Lake City. Her viewing Sunday night demonstrated just how impactful Love was in her private life and as a civil servant. She held many titles, including wife, mother, mayor, member of Congress and media commentator. Her former campaign manager, Dave Hansen, said she was the best convention speaker he had ever seen, emphasizing that her efforts to memorize lines and inflections were unmatched. 'She moved people, and it was her words, and it was the way she delivered herself,' he told the Deseret News. Love entered the national political scene in 2012 with her speech at the Republican National Convention in Tampa, Florida. Her longtime friend Sarah Haley Nitta, Director of Education and Development at Prevent Child Abuse Utah, traveled to Tampa with Love back in 2012. She told the Deseret News that Love had 'democracy in her bones.' 'She really cared about responsible policy because she wanted to build a country that would last for generations,' Nitta said, emphasizing that Love wanted her children to experience the American Dream. 'Mia was always willing to fight for the things that she believed in, and she did that. Could do that in a very assertive way, but also in a very witty way. And I think she was just such a beautiful beacon of hope for democracy,' Nitta added. 'The legacy, principles and values of the Republican Party that voted for suffrage and that voted for civil rights. She was the product of that and she represented that party in such a powerful way, that's her legacy.' In her last open letter, she spoke about the need to give back. 'The America I know gives back. Americans, regardless of financial status, are the most giving people on the planet,' she wrote. 'On their own, without government requirement, our people give their money, their time and their attention to causes, communities and people in need whether it is across the street or around the world. I've experienced this generosity throughout my life and during my battle with cancer. I am so grateful.' Her friend of 15 years, DeLaina Tonks, Executive Director, Mountain Heights Academy, said giving back is an attribute Love exemplified. 'What her dad told her when she was growing up is 'you will give back,' and that is the same thing she taught her children. It's what she's taught my children. It's what she's taught her friends,' Tonks told the Deseret News. 'That we're here to make a difference in the world, to make the world better, to leave it better than we found it. And she has done that, and my expectation is that we will all follow in her footsteps and leave the world a little bit better than we found it based on her example of giving back.'
