Deals
Goldman Sachs Is Getting More Bang From Japan's M&A Spree
- Top three merger advisers in Japan last year were foreign
- Proportion of overseas deals by Japanese companies jumped
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Japan Inc.’s record acquisition spree is proving to be better news for overseas investment banks than for their home-grown rivals.
Foreign firms led by Goldman Sachs Group Inc. grabbed the first three places in Japan’s merger advisory rankings last year, handling deals worth a combined 44.6 trillion yen ($403 billion), according to data compiled by Bloomberg. Nomura Holdings Inc., Japan’s largest investment bank, slipped out of the top three for the first time since 2016.