Significant Rise in M&A Transactions: June Report Reveals Record Numbers

M&A Activities Surge in June 2025

In June 2025, Japan experienced a remarkable increase in M&A activities, with a total of 112 transactions reported—an increase of 23 from the previous year. This figure represents the highest number of M&A deals ever recorded for the month of June, and the total transaction value reached a staggering 5.3582 trillion yen, which is approximately 7.5 times greater than the same month last year, marking it as the second-highest total since 2008.

M&A Online, the authority in tracking timely disclosed corporate transactions involving the transfer of management rights (excluding internal reorganizations), compiled these data. The notable surge in activity was primarily driven by the landmark Tender Offer Bid (TOB) made by the Toyota Group, aimed at taking Toyota Industries private at a remarkable valuation of 4.684 trillion yen.

The Dominance of Toyota Industries' TOB

The total transaction amount reported in June was second only to the colossal 7.7313 trillion yen deal when Takeda Pharmaceutical announced its acquisition of Shire in May 2018. The ambitious TOB by the Toyota Group, one of Japan's most illustrious conglomerates, propelled the numbers significantly. The move is part of a corporate strategy to enhance capital efficiency by divesting cross-shareholdings within its group. Toyota Industries has a storied history and is considered the founding cornerstone of the Toyota Group.

The TOB trend has been on the rise in recent years, and June saw them particularly dominate the landscape, with nine out of the top ten largest deals being TOBs. The top three transactions in June included:

1. Toyota Industries: The TOB by the Toyota Group to take Toyota Industries private for 4.684 trillion yen.
2. Makino Milling Machine: This company accepted a TOB from MBK Partners, avoiding a coercive bid by Nidec, resulting in a privatization deal worth 274.8 billion yen.
3. Triton: The U.S.-based Carlyle Group aims to acquire Triton, which operates in the medical and welfare staffing sector, valued at 87.4 billion yen, amid ongoing labor shortages in healthcare and senior care due to Japan's aging population.

Carlyle Group's strategic acquisition of Triton underscores the growth potential in the staffing industry, which is expected to expand in response to chronic labor shortages in healthcare and welfare services.

M&A Online Celebrates 10 Years

M&A Online is dedicated to making M&A more accessible and understandable to everyone, providing information that encourages individuals and businesses to engage with M&A activities. The platform celebrates its 10th anniversary as of July 2025, having served as a vital resource for insights into corporate mergers and acquisitions. It aims to address social issues, including succession crises, and foster innovation within the Japanese economy.

In celebration of this milestone, M&A Online will host an event titled “What Makes M&A Successful? Insights from GENDA and SHIFT” on July 15. This event promises to be an invaluable opportunity for those involved in or interested in M&A to gain actionable insights from industry leaders.

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