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M&As by Japanese firms hit record high in 2017

  • January 4, 2018
  • , Jiji Press , 6:39 p.m.
  • English Press

Tokyo, Jan. 4 (Jiji Press)–The number of mergers and acquisitions involving Japanese firms in 2017 grew 15.0 pct from the previous year to 3,050, rewriting a record high for the first time in 11 years, an industry survey showed Thursday.

The figure topped the previous record of 2,775, marked in 2006, according to Tokyo-based M&A advisory firm Recof Corp.

The 2017 growth reflected brisk investment in startups for acquiring new technologies, including artificial intelligence.

The overall value of the deals, however, fell 21.0 pct to 13,343.7 billion yen as there were many small and midsize M&A cases.

Large-scale deals targeting domestic firms included the purchase of Toshiba Corp.’s <6502> Toshiba Memory Corp. unit by a Japanese-U.S.-South Korean consortium led by U.S. private equity fund Bain Capital.

 

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