Comprehensive analysis of major M&A cases conducted from September 2024 to early October 2025.
Detailed descriptions of trends in acquisitions, divestitures, and restructurings by domestic and foreign companies are provided based on primary information.

Increase in TOB (takeover bids) by foreign capital
Aggressive approaches to Japanese suppliers by foreign companies are conspicuous, such as the acquisition of Shibaura Electronics by Yageo of Taiwan and friendly TOB by MBK Partners of Korea for Makino Milling Machine Manufacturing Co.

Progress of TOBs by domestic group restructuring companies
Competitiveness is being strengthened through capital integration within the group, such as Toyota Group’s privatization of Toyota Industries Corporation (TIA) and Nippon Steel Corporation’s wholly owned subsidiary of Kurosaki Harima Corporation.

Large acquisitions in the materials and chemical fields
Strategic investments with an eye on the global market are gaining momentum, such as Nippon Steel’s acquisition of US Steel (worth approximately 2 trillion yen) and UBE’s acquisition of Lanxess’ urethane business.

Restructuring of automotive business by electric and electronic component companies
Panasonic, Mitsubishi Electric, Murata Manufacturing, and other companies are proceeding with the selection and concentration of their automotive businesses, with a clear shift toward AI and electrification technologies.

Rise of India’s Motherson Group
The group has acquired Honda-affiliated suppliers Atsumitech and Utah Giken one after the other, strengthening its presence in the powertrain area.

Profitability improvement and risk avoidance through business transfers
Against the backdrop of sluggish sales in the Chinese market and business losses in Europe and the U.S., several companies have transferred their local bases.
A review of the business portfolio is underway.