A Study On The Experience And Lessons Of Japan 's Large - Scale Overseas Direct Investment M & A And Integration

In recent years, with the rapid growth of China’s economy, China’s transnationalM&A (mergers and acquisitions) has gained rapid development. Especially since the2008financial crisis, China’s transnational M&A has gained great momentum both inscale and quantity. By2012, cross-border M&A has become the main way of China’sFDI (foreign direct investment) when its contribution to China’s FDI exceeded50%.Coincidentally, there has been a surge of transnational M&A boom in Japan in thelate1980s followed by a range of issues like trade friction, currency appreciation,cultural differences, etc. Therefore, in-depth study in Japan’s transnational M&A inthe late1980s, summarization of its successful experience and digestion of itsunsuccessful lesson is of far-reaching significance to resolve the problems faced byChinese enterprises in their transnational M&A.Above all, this article studied the economic background of Japan’s transnationalM&A in last1980s comprehensively. On that basis and ombined with large amountsof data, this article performed an in-depth empirical quantitative analysis of Japan’slarge-scale transnational M&A in four aspects: acquisition profiles, characteristics,motivation and results. Then, it summarized successful experience and unsuccessfullesson in both macro-perspective and micro-perspective on the basis of data analysis.After that, the article displayed the history of China’s transnational M&A since1949and the characteristics during this process. Through the integrated research andcomparative study of transnational M&A in Japan and China, we will find thesimilarities and also the differences between these two nations.Finally, this article summarized current problems existing in China transnationalM&A, and proposed appropriate specific policy recommendations from both macroand micro perspectives on the basis of Japan transnational M&A analysis earlier, thecharacteristics of China transnational M&A and the integrated research andcomparative study of transnational M&A in these two countries.