Toshiba woe holds lessons for Japanese buyers

As Japan’s cross-border M&A boom continues, buyers should learn from Toshiba, Kirin, and Japan Post’s mistakes, which are creating new inbound M&A opportunities.

Toshiba woe holds lessons for Japanese buyers

The recent boom in overseas acquisitions by Japanese companies has led to predictable regrets and recriminations.

Among those ruing their international boldness is Toshiba. Having written off some $6.3 billion after overstating earnings at US nuclear unit Westinghouse Electric, which it bought in 2006, the marquee Japanese company said on Wednesday that it has chosen a preferred bidder for its chip business as it rushes to raise shareholder equity and avoid a humiliating delisting...

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