Reforms to Japan’s corporate governance mean that listed firms can no longer simply dismiss takeover attempts out of hand. That has fuelled a surge in dealmaking https://t.co/WwTq124DMN 👇
For years, Japan Inc. sat on real estate worth billions of dollars more than they paid for it. Now signs are growing that more companies, big and small, are looking to tap their property wealth. https://t.co/cFUqMtGt0h https://t.co/uBnzCzEyqw
Japan Inc's governance reforms have been hugely impressive, illustrated by a surge in M&A, activism and buybacks. But there's still a huge amount of room to improve! When it comes to capital efficiency, Japan Inc. is still almost as bad as ever. By me. https://t.co/ighadyTLgD
Japan's corporate governance landscape is undergoing significant changes. Historically known for their hostility to takeovers and lack of responsiveness to shareholders, Japan's listed firms are now showing signs of reform. This shift has been marked by an increase in mergers and acquisitions (M&A), shareholder activism, and share buybacks. Despite these impressive improvements, experts argue that there is still considerable room for progress, particularly in terms of capital efficiency. Additionally, more companies are beginning to leverage their property wealth, which are often worth billions more than their purchase price. The corporate-governance crusade in Japan still has a long way to go.