Japan’s Corporate Reform Enters a New Phase

Japan’s governance reforms are increasingly shifting toward corporate control, creating new opportunities for value creation while raising questions over how much reaches minority shareholders.

• The market is moving toward greater consolidation as policymakers push companies to improve capital efficiency, scale and competitiveness. 
• National-security considerations are increasingly influencing takeovers, potentially narrowing the pool of buyers and limiting premiums available to minority shareholders. 
• The medium- to long-term outlook remains constructive, with governance reform, shareholder engagement and corporate restructuring creating a growing opportunity set beyond large-cap companies. 

Explore the full report for a deeper look at Japan’s evolving market for corporate control.