Dining Out: Japan Takes its Appetite for M&A Overseas
The Japan Society Corporate Program presents Dining Out: Japan Takes its Appetite for M&A Overseas with Michael Braun, Partner, Morrison & Foerster LLP; Richard S. Kelly Jr., Senior Managing Director, The Bridgeford Group, Inc.; and Nobuhiko Masuto, Managing Director, GCA Savvian Advisors, LLC. Moderated by, Herbert Lash, Global Markets Correspondent, Reuters, the luncheon panel discussion takes place Tuesday, April 14, Noon, at Japan Society.
Recently, the mention of Japanese M&A activity conjured up images of Steel Partners, Ripplewood and Cerberus feeding on undervalued Japanese assets, often to the consternation of the target firms directors. Thanks to the credit crisis, the tables have turned swiftly and dramatically. A strong yen and limited access to capital now deter would-be U.S. and European buyers from targeting Japanese firms, and depressed foreign share values have cleared the way for cash-rich Japanese firms to make major strategic and opportunistic acquisitions. While domestic and out-in M&A figures involving Japan are down, in-out M&As have hit record volumes, notably in the healthcare and financial sectors. In Dining Out: Japan Takes its Appetite for M&A Overseas, experts examine the current trend and future outlook for Japanese M&A, and contrast present activity with previous ill-fated real estate and technology buying sprees in the 80s and 90s.