Japan Inc is on an acquisitions march across Asia and around the world, new figures show, as firms armed with ever more valuable yen take strategic advantage of the currencys post-war highs.Western economies have been left in turmoil by the global financial crisis and eurozone sovereign debt woes.And in recent years Japans economy has been eclipsed by that of China, which has overtaken its neighbour to take second place in global GDP rankings on the back of rampant growth that has underpinned much of the global economy.But last year Japanese firms made 198 corporate purchases across the rest of Asia, mergers and acquisitions researchers Recof Data found, an all-time high and well above the previous record of 153 in 2005.
Read the rest of the story: Japans growing yen for acquisitions.
Nomura Holdings Inc. pulled ahead of Goldman Sachs Group Inc. to hold on to the top spot for mergers and acquisitions advisory work in Japan in 2011, after the two competed neck and neck during the last two months.
Nomura, the nation’s largest brokerage, this year advised companies on 134 transactions worth $65.4 billion, including Takeda Pharmaceutical Co.’s $13.7 billion acquisition of Swiss drugmaker Nycomed, data compiled by Bloomberg show. Goldman Sachs came in second after handling 24 deals worth $62.3 billion, according to the data.
Read the rest of the story: Nomura Narrowly Tops Goldman in Japan Merger Advice in 2011.
After hoarding $2.4 trillion in cash, corporate Japan is pursuing overseas takeovers like never before to boost returns. Sony Corp. and Fujifilm Holdings Corp. are among the companies with the biggest incentive to chase deals.
More than $25 billion of cross-border acquisitions have been struck by Japanese companies this year, on pace to exceed the record amount of deals announced in 2006, according to data compiled by Bloomberg. The buying spree comes as Japan’s currency climbed to its highest level since World War II versus the dollar and the world’s third-largest economy fell into its third recession in a decade after being rocked by the nation’s biggest earthquake on record.
Japanese companies are using their buying power on foreign takeovers after slumping demand at home destroyed almost half their equity value in the past five years.
Read the rest of the story: Sony Leads Japan Inc. Eyeing Deals With $2.4 Trillion: Real M&A.