Citi to Add Japan Dealmakers as M&A Boom Rolls On

Japan M&A boom momentum is prompting Citigroup to expand its investment banking team in the country by 30% by the first half of 2026, aiming to capture deal activity involving Japanese companies that has reached about USD350bn this year, the highest since records began in 1998.

Japan vice-chair Masuo Fukuda said governance reforms have made corporate boards more shareholder-focused, driving divestments of non-core assets and overseas expansion, while hostile bids, private equity and activist investors play a larger role.

Citigroup currently ranks 10th in Japanese M&A advisory and 11th in underwriting equity and equity-linked deals, as rivals including Goldman Sachs, UBS and Jefferies also add bankers.

Citi’s Japan securities unit employs around 900 staff, underscoring confidence that the Japan M&A boom will persist.