Lo strong yen, accused of undermining the profits of local car and electronic product manufacturers, has become a unique opportunity for other companies, especially services, which are engaging in unbridled shopping.
For example, Rakuten, Japan's leading online shopping site, has bought several foreign companies over the past year, taking advantage of a high yen. This has helped the group move up the international e-commerce hierarchy.
"The situation is ideal – comments Hiroshi Mikitani, chief executive of Rakuten – The manufacturing industry should also take advantage of it and buy rivals on emerging markets”. According to data from Recof Corp, M&A deals involving Japanese companies increased by 30 percent in the first eight months of the year. The growth was mostly involving marriages with companies from other Asian countries, setting a record in the region, although the most valuable deals were made with US companies.
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