Optimism about Japan's recovery, concerns about its sustainability
11/04/2007. It was a tiny increase, from zero to just 0.25 per cent, says Knowledge Wharton, but when the Bank of Japan raised interest rates this summer for the first time in six years, the little bump heralded the end of 15 years of a deflationary spiral and painful economic restructuring that has forever altered the Japanese way of life. Japan seems to be back on track economically, but Wharton faculty and analysts warn that the country may still hit some potholes down the road.

Japan’s cleantech industry offers high potential
10/01/2007. Japan has risen to the forefront of countries developing environmental technologies, says the IVCJ. In this article, Harel-Hertz Investment House’s Manager of Business Development, Liron Neugarten, and Market Research Specialist, Reut Harari, examine the moves being made in Japan toward growing the clean technology market.

Big is beautiful
04/10/2006. Softbank’s acquisition of Vodafone Japan had made a mark in Asian leverage buy-out, says the Asia Private Equity Review.

Greeting growth
05/07/2006. For more than four years, private equity in Japan has been synonymous with buy-outs, says the Asia Private Equity Review. But now buy-outs are taking a back seat as Japan greets welcome signs of an economic rebound.

New corporations law in the pipeline
02/11/2005. On 22 March 2005, the Japanese Ministry of Justice submitted a new Bill to the Diet which, when enacted, will establish for the first time an independent and consolidated code of company law in Japan, says Baker & McKenzie. The new Bill contains just short of 1,000 clauses and is regarded as introducing the most sweeping changes to corporate law in Japan in the last half century.

M&A in Japan
31/05/2005. M&A growth in Japan will continue, says PricewaterhouseCoopers, led by Japanese investment overseas. The total value of announced transactions in 2004 was $103.7 billion, which surged to 44 per cent higher than the previous year.

Japanese Buyout Fund Boom
19/01/2005. Establishment of buyout funds in Japan started with fund raising by Advantage Partners in 1997. The successive establishment of buyout funds after that is one of the phenomena that symbolize the historic turning point for the Japanese financial industry and stock markets that came about as a result of financial system "Big Bang" in that same year, says Chikusei Partners. In order to understand the situation in which Japanese buyout funds were established in and after 1997, it is important to gain an understanding of the changes in the financial and economic environments at the time.

Breaking down the keiretsu
15/03/2004. Over the last four years Japan has advanced to become home to Asia's largest pool of buy-out capital with close to $5bn in 40 funds. It also boasts an aggregate transaction total of $4.97bn, according to the Asia Private Equity Review.

White paper on small and medium enterprises in Japan: The age of the local entrepreneur - birth, growth and revitalization of the national economy
23/04/2003. The importance of entrepreneurialism to the recovery of the Japanese economy is recognised by the Japanese government, which supports the Japan Small Business Research Institute. This report, first published in September 2002, highlights recent trends among small and medium-sized companies in the continuing recession.

Enhancing the Value of Japanese Companies: Some Practical Advice for Private Equity Investors
19/02/2003. Japan continues to suffer from slow growth due to the poor domestic economic situation and a world economy that continues to teeter on the brink of recession. As the Japanese economy continues to sputter, many of the companies that were on a worldwide buying spree in the 1980s are now struggling simply to maintain profitability, say Mark A Guidi and Russell J Taylor of PricewaterhouseCoopers. This situation has had a tremendous impact on many Japanese companies' value and their ability to compete in the global economy.

Revitalisation pills
14/01/2003. Restructuring funds are becoming more popular in Japan. With loan defaulting on the increase, the Development Bank of Japan is seeking to ensure that the economy is not hit harder than necessary by allocating capital to both local and foreign institutions willing to acquire Japanese assets, points out the Asia Private Equity Review.

White paper on small and medium enterprises in Japan: a wake-up call to small business - building a self-sustaining enterprise
26/11/2002. Japan may not strike investors as particularly innovative at first glance. On top of the business culture, which is perceived to be unfriendly to start-ups and new businesses, the stagnant economy and apparent inability of the Japanese government to initiate reforms, have all put off foreign investors for some years. But in January 2001 a new ministry, the Ministry of Economy, Trade and Industry, was set up. This White Paper, the first to be published by the new ministry and written by Japan Small Business Research Institute, finds that conditions for small businesses and start-ups are gradually improving.

Recent Trends in Private Equity
05/11/2002. The Japanese MBO market has grown rapidly in the past 18 months. As many Japanese companies are forced to undergo drastic restructuring and are spinning off non-core businesses, deal flow is extremely robust. Ross Kerley and Russell Taylor of PricewaterhouseCoopers give an overview of recent developments in Japan, which appear positive for the future of the private equity industry.

M&A in Japan
10/07/2002. M&A activity in Japan has increased dramatically in recent months. Management buy-outs, the foreign acquisition of ailing Japanese companies and hostile take-overs have all seen their numbers rise although Japanese companies, often backed by private equity firms, show a strong preference for MBOs above hostile take-overs, Freshfields Bruckhaus Deringer discusses.

A better environment for start-ups and venture capital
10/05/2002. Japan is becoming a more inviting place for start-ups and venture capitalists. The reforms currently in progress represent some of the most significant changes in Japanese corporate law in the last 50 years. However, there is still some way to go before many investors feel fully comfortable with committing to Japanese private equity firms. Hajime Tanahashi of Mori Sogo looks at the challenges ahead.

Private equity in Japan
08/05/2002. As the pace of Japan's corporate restructuring gathers momentum, there is a growing awareness of the positive role that foreign private equity funds can play in this process. On 20 March 2002, the Japan External Trade Organisation (JETRO) held a conference in New York to discuss the evolution of the industry in the region. The following is a summary of the presentations given.

Japan's economic outlook remains gloomy but opportunities exist for investors
30/10/2001. The outlook for Japan's economy looks dismal, says Knowledge Wharton. Structural reforms are needed if things are to improve. This article considers the problems that need to be addressed if Japan intends to play a dominant role in future markets.

Foreign mergers, acquisitions and investments surge in Japan
29/10/2001. After struggling for the past ten years, Japan has finally succeeded in kick-starting its economy. This has been demonstrated by a rising level of M&A and inward investment, according to this article by Peter Woods OBE for Trade Partners.

Making M&A work in Japan
24/08/2001. Although mergers and acquisitions are on the rise in Japan, they are still fraught with complications. Even so, this article from the McKinsey Quarterly shows how multinationals that master the local business culture can succeed in crafting deals.

Reviving Japan's economy
22/08/2001. Since 1990 Japanese GDP has grown by only 0.6 per cent compared with 1.7 per cent in the United States. This article from McKinsey Quarterly offers a detailed understanding and unique insights into the causes of Japan's decline and offers suggestions as to how to reverse this.

Private equity heads for Japan
29/05/2001. Now that corporate restructuring in Japan is underway, there are plenty of opportunities for private equity firms and their investors. This McKinsey article looks at why western firms are moving into the market and how they must learn to understand the prevailing management style to be successful.