Japanese companies’ mergers with and acquisitions of Southeast Asian firms hit a record high of 99 in 2013, up 26.9% from the previous year, Tokyo-based M&A adviser Recof Corp said Monday.
Their M&A investment in Southeast Asia also hit a new high of 953.4 billion yen, up 4.4-fold, pushed up by large deals including the acquisition by the Bank of Tokyo-Mitsubishi UFJ of Bank of Ayudhya.
Japanese companies expanded investment in the fast-growing region while reducing their overall overseas M&A investment by 32.1% to 5.17 trillion yen due to the yen’s depreciation, which made overseas investment more expensive.
While the overall number of Japanese companies’ overseas M&A deals also dropped 3.1% to 499, they still hit the second highest annual level, after 515 in 2012.
The number of M&A deals between Japanese companies in 2013 grew 14.7% to 1,400.
Source : Bangkok Post | January 7, 2014