Yuzo Otsuka, UBS’s head of mergers and acquisitions in Japan, talks to FinanceAsia about why Japanese outbound MA volumes have dropped from 2011’s jumbo level, his expectations of whether deals will pick up again and Japanese companies' attitude towards leverage.
Edited excerpts follow from an interview conducted in UBS’s Tokyo office
Why are Japanese companies making acquisitions overseas
Japanese companies are trying to expand outside of Japan for lots of reasons such as little domestic growth, a stringent labour market and a very high corporate tax rate, second only to that in the US.
Why...
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