A significant takeover battle is emerging for the Japanese owner of 7-Eleven, valued at $45 billion. This competition is set against a backdrop of increasing merger and acquisition (M&A) activity involving foreign bidders. Analysts suggest that the current environment, characterized by a weak yen and low corporate valuations, is encouraging foreign interest in Japanese companies. The City of Tokyo's vice-chairman has indicated that potential relaxations of antitrust laws under the Trump administration could further enhance M&A activity involving Japanese firms. The outcome of this battle could serve as a pivotal moment for the future of Japanese M&A, potentially leading to a broader wave of deal-making in the region.