Atlantic Economic Journal

, Volume 24, Issue 3, pp 244–256 | Cite as

Japanese mergers and acquisitions: Overcoming obstacles to improved systemic efficiency

  • Philippe Debroux
Northeast Asian Economic Development


Foreign companies have shown a great interest in penetrating the Japanese market through the means of the acquisition of a Japanese firm. However, as of yet the number and size of deals remain very limited. A number of residual regulatory obstacles can partially explain the situation, but it seems that the main obstacle comes from the inherent characteristics of the Japanese environment (i.e., the labor market and employment practices, corporate governance, and general societal organizing principles). Japanese business is currently undergoing dramatic changes and there is a level of convergence of management practices with the West. Therefore, an increase in foreign acquisition activities can be expected in the forthcoming years. Nevertheless, if the overall business environment will be reformed and offer more opportunities, it is unlikely that those developments will follow the exact same patterns as in Western countries.


Labor Market Management Practice Western Country Corporate Governance International Economic 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.


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Copyright information

© Atlantic Economic Society 1996

Authors and Affiliations

  • Philippe Debroux
    • 1
  1. 1.Hiroshima City UniversityJapan

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