KPMG FAS Newsletter "Driver" Vol.06

KPMG FAS Newsletter "Driver" Vol.06

Explain the market characteristics that should be understood in order to link M&A to subsequent value creation, as well as points to be mindful of ...

Explain the market characteristics that should be understood in order to link M&A to ...

KPMG FAS Newsletter "Driver"

Vol.06 - February 2020

As Japan's domestic market shrinks, Japanese companies are continuing to pursue opportunities in new markets by acquiring overseas businesses aiming for future growth. However, as buyers, they continue to face a range of post-acquisition challenges associated with management, human resources, corporate systems and corporate culture. Key to successful overseas M&A is to ensure an individual understanding of the local characteristics in the country or region of the acquisition. How do you balance the risks and benefits associated with successful overseas market entry? Over the course of three consecutive issues, we will cover eight major global markets and explain the market characteristics that should be understood in order to link M&A to subsequent value creation, as well as points to be mindful of at the execution stage of investment.

 

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Navigating the U.S. M&A market

Navigating the U.S. M&A market

Navigating the U.S. M&A market

The U.S. is clearly an important market for the future growth of Japanese companies seeking to expand globally, and while the history of Japanese M&A activity in the U.S. dates back to the 1980s, it remains to be a market with inherent challenges that require careful attention. In recent years there are signs of a shift in the reputation of Japanese companies as buyers in the U.S. We uncover some of the unique characteristics and challenges of M&A in the U.S., as well as offering some advice for achieving success.
 
M&A in India - Current challenges and possibilities

M&A in India - Current challenges and possibilities

M&A in India - Current challenges and possibilities

While it has long been said that the keys to success in India are favorable relationships with local partners, thorough localization efforts, proper delegation of authority and quick decision-making systems, the fact is that many Japanese companies continue to struggle there. We consider ways for Japanese companies to succeed at M&A in the Indian market - where it can take up to five years to turn a profit.
 
Graph analysis

Market Check! - EV/EBITDA multiple trends by sector

Looking at six sectors ranging from hardware centric to software centric, this section provides fixed-point observation data for the market multiples of major markets in Japan, the US, and China.
 
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