Pursuits

Japan Inc.’s $2 Trillion Cash Fuels Overseas Purchases

After years of building up cash to a record 233 trillion yen ($2 trillion) as of the end of September, Japanese companies are looking to convert those stockpiles into future growth by investing overseas.
Photographer: SeongJoon Cho/Bloomberg

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By Monami Yui, Shigeru Sato and Angus Whitley

February 24, 2015 at 4:18 PM UTC

Updated on

February 25, 2015 at 5:02 AM UTC

This article is for subscribers only.

Japanese companies are on an overseas buying spree.

Canon Inc., Japan Post Holdings Co. and Itochu Corp. have led $28 billion of purchases abroad so far this year, the fastest start on record for Japanese acquirers, according to data compiled by Bloomberg going back to at least 2006. They’re paying up, too, with takeover premiums that are about double the global average, the data show. The trend is set to continue.