KKR and Bain & Company are engaged in a $4 billion takeover battle that is expected to stimulate mergers and acquisitions (M&A) activity in Japan. This development comes amid a broader trend of increasing overseas interest in Japanese businesses, with a notable rise in acquisition bids this year. Additionally, private equity firms are actively pursuing opportunities in the U.S. accounting sector, exemplified by Investcorp's recent acquisition of PKF O'Connor Davies and Centerbridge's investment in Carr Riggs. The surge in M&A activity is also reflected in Japan, where listed companies have offered buyouts to nearly 10,000 employees in 2024, a figure that is approximately three times higher than the previous year, driven by weak earnings and the need for businesses to downsize.