Abstract
In this chapter, Matsumoto provides an in-depth exploration of the reasons managers may pursue outbound acquisitions. He discusses the five benefits that Japanese managers expect from overseas M&As: buying time, capturing market share, generating synergies, acquiring local talent, and taking advantage of the strong yen. However, Matsumoto highlights that within each of these expected benefits there lie inherent pitfalls. He analyzes each of these benefits and their potential pitfalls using three case studies of acquisitions in the United States and the United Kingdom by Japanese firms: Bridgestone, Nippon Sheet Glass, and Furukawa.
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Notes
- 1.
Bridgestone company information, “The Bridgestone Story.”
- 2.
Nippon Sheet Glass press release, February 27, 2006.
- 3.
Nikkei Business, April 28, 2008.
- 4.
Nihon Keizai Shimbun, October 5, 2012.
- 5.
Nihon Keizai Shimbun, November 17, 2001.
- 6.
Nihon Keizai Shimbun, November 17, 2001.
- 7.
Nihon Keizai Shimbun, July 29, 2001.
- 8.
Bridgestone company information “The Bridgestone Story.”
Reference
Andrade, G, M. Mitchell, and E. Stafford. 2001. “New Evidence and Perspectives on Mergers.” Journal of Economic Perspectives (15) 2:103–120.
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Matsumoto, S. (2019). The Five Pitfalls. In: Japanese Outbound Acquisitions. Palgrave Macmillan, Singapore. https://doi.org/10.1007/978-981-13-1364-6_2
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DOI: https://doi.org/10.1007/978-981-13-1364-6_2
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