M&A for Value Creation in Japan

Available in our e-library on M&A at IMAA!

Authors: Yasuyoshi Kurokawa

Publisher: World Scientific Publishing

Year: 2009, December

ISBN: 978-981-4466-73-8

Content

The design or reorganization of a corporate organization should be discussed from the perspective of the supply and demand equilibrium in the market. But it is quite difficult to balance supply and demand by relying on the price mechanism of the market. The book investigates the impact of a takeover on a management’s incentives to increase reported earnings. The book also analyzes the type of effects reorganizations have on the laws and regulations, while weighing the company law, accounting standards for financial instruments, tax law, other accounting principles and international standards such as the Financial Accounting Standards Board (FASB) and International Financial Reporting System (IFRS).
Proposing a new institutional fundamentalism based on the merits of market competition, the book clarifies the features of public-to-private buyout in Japan, explaining the advantage of going-private transactions. The trend of public-to-private buyouts in Japan and the theoretical framework of public-to-private buyout deals are also dealt with in detail.

Table of Contents

FRONT MATTER

Accounting Problems Encountered in M&As

A Study of Goodwill and Intangible Fixed Asset on Business Combination: Pharmaceutical Companies in Japan

The Method of Payment in Takeovers and Earnings Management

Income Smoothing and the Just-in-Time System in the Japanese Automobile Industry

M&A and Its Incentive System for the Inter-Firm Organization

The Impact of Market Inefficiency on TOB in Japan

A Survey of Public-to-Private Buy-out Transactions in Japan

Do M&As in Japan Increase Shareholder Value?

BACK MATTER