A recent nationwide survey by our Member Teikoku Databank reveals a notable shift in corporate sentiment toward mergers and acquisitions (M&A) in Japan. Only 29.2% of companies anticipate involvement in M&A over the next five years—a 6.7-point drop from 2019—while over half express no intention to engage, signaling growing caution across industries and company sizes.
The study, based on responses from over 10,000 companies, highlights that just 11.1% participated in M&A between 2019 and 2024, with large firms significantly more active than SMEs. Buyers prioritize price and financial health, while sellers emphasize employee treatment, underscoring differing strategic concerns.
Importantly, nearly 60% of respondents advocate for stricter regulations to curb predatory M&A practices, reflecting rising distrust toward intermediaries and unethical buyers. As regulatory pressure mounts, the future of M&A in Japan may hinge on transparency, fairness, and responsible advisory practices.
Read the full survey here:
Source: Teikoku Databank
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