Japan investment in financial services peaks
Japan's investment in the financial services sector reached its highest deal value in 2015 since 2010, with the sector attracting 34 deals worth US$13.7 billion last year, according to Mergermarket group.
Data for global and regional merger and acquisition for 2015 showed the top 15 deals in Japan within the sector were struck either by Japan-based or listed companies.
Japanese outbound activity into the sector reached the highest on record, with 27 deals at US$34.8 billion), as the trend to look for assets abroad continued.
Outbound merger and activity continued unabated in 2015, attracting 295 deals at US$89 billion, which was a 67.4 per cent increase from 2014.
Japan also seemed more confident to invest in expensive assets abroad, with the average deal size increasing from US$312.8 million to US$482 million year-on-year.
Japan's second largest life insurance company, Nippon Life, partnered with National Australia Bank last year, which confirmed it was selling 80 per cent of its life insurance business to Nippon Life, with the transaction, valued at $2.4 billion, set to be completed in the second half of 2016.
In 2010, Dai-ichi Life Insurance took full control of Australian life insurer, TAL for $1.2 billion in cash. Last year, Dai-chi Life announced it was setting up regional headquarters in both North America and the Asia Pacific region.
The move came as part of the group's global expansion strategy in Japan, North America, and the Asia Pacific.
AUTHOR
Malavika Santhebennur
Recommended for you
Record flows into iShares ETFs helped BlackRock’s assets under management reach US$13.5 trillion in the third quarter, but it reported outflows from the APAC region.
Regal Partners has passed $20 billion in funds under management, helped by $723 million in net inflows during the last three months.
Global investment manager Fidante has formed a strategic partnership with a London-based asset manager to secure exclusive distribution rights across the APAC region.
Blackwattle Investment Partners has hired a management trio from First Sentier Investors – who departed amid the closure of four investment teams last year – to run its first equity income offering.
