Transaction volume for deals involving Japanese companies approached $350 billion by the end of 2025, marking a record year. Corporate governance reforms aimed at improving shareholder returns have fueled this surge. Next year is expected to be even busier.
It's been a record year for deals involving Japanese companies, with transaction volume approaching $350 billion as December 2025 draws to a close. Corporate governance reforms aimed at improving shareholder returns are transforming Japan from a market once seen as slow with occasional megadeals into a hub of activity.
"Dealmaking in Japan is incredibly busy," said Chris Laskowski, head of Asia investment banking at Jefferies Financial Group. "I spend a lot more time talking to our colleagues there now than any time before."
These changes signal a shift in the Japanese economy, with expectations that 2026 will see even greater volumes of mergers and acquisitions.