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Japanese banks warm up to financing hostile takeovers

Japanese banks are now more open to financing hostile acquisitions, influenced by new government takeover guidelines that challenge the traditional taboo against such deals, according to Akihiro Fukutome, head of the Japanese Bankers Association. This shift marks a significant change in Japan’s business culture, aligning it more with Western dealmaking practices. The Ministry of Economy, Trade and Industry’s (METI) guidelines, introduced last year, aim to discourage excessive defence tactics and encourage corporate takeovers, thereby increasing the occurrence of unsolicited bids. Companies like Nidec and Dai-ichi Life Holdings have since launched hostile bids, signalling a growing acceptance. Fukutome notes an uptick in such deals, suggesting a changing atmosphere around unsolicited proposals.


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