Research On Overseas M&A Of Auto Parts Enterprises

With the increasing globalization of automobile industry,vehicle manufacturing and automobile products are more and more dependent on global cooperation.However,the development of China's auto parts industry is slow,and the main products are also concentrated in the middle and lower reaches of the low-end industry,with low economic benefits.In recent years,Chinese auto parts enterprises expect to acquire advanced technology,valuable brand value and rich overseas market management experience of the acquired enterprises through overseas mergers and acquisitions.They are trying to seek new profit growth,gain new market share and become global competitive leaders in the industry through overseas mergers and acquisitions.However,the success rate of Chinese automobile enterprises in overseas mergers and acquisitions is not high,and there are still many risks in political,economic,cultural and other aspects,so it is particularly important to learn from the existing successful cases and summarize the experience.This article selects JOYSON Electronics to acquire Japan's TAKATA as an analysis case.After sorting out the research objectives and background,the relevant theoretical research and literature on the motives,performance evaluation systems,and risks faced by overseas M & A companies of Chinese auto parts companies are reviewed and summarized.Secondly,after a comprehensive investigation to understand the overall situation of the companies on both sides of the merger and acquisition and the reasons for the merger and acquisition,the M & A performance is comprehensively analyzed from the aspects of event research method measurement analysis,financial indicator measurement analysis,Tobin ‘Q value measurement analysis and economic value added(EVA)measurement analysis measure.Through the analysis results,it is found that after the completion of the merger,whether it is from corporate financial indicators or non-financial indicators,JOYSON Electronics has a good positive performance,and this merger is more successful.Combined with M & A analysis and the entire M & A process,this article also summarizes the difficulties and risk prevention in M & A.By horizontally comparing the continuous M & A behavior of JOYSON Electronics in the early stage,and longitudinally comparing with the financial indicators of Chinese auto parts related companies,and combining the analysis of the previous part of M & A performance,we reached the conclusion of JOYSON Electronics' M & A of TAKATA,and in On this basis,put forward suggestions for overseas mergers and acquisitions of auto parts companies.Firstly,any company's overseas M & A need to combine industry characteristics and rational strategic layout.Secondly,we should pay attention to the integration of culture and enterprise resources.Finally,in the process of overseas mergers and acquisitions to pay attention to the enterprise indicators and risk changes.There are many uncertainties and risks in overseas mergers and acquisitions,but there are also huge opportunities for enterprises.Only by making full preparations and grasping as much information as possible,can enterprises obtain positive benefits from overseas mergers and acquisitions.In general,successful overseas mergers and acquisitions help to enhance the overall value of enterprises and broaden the global industrial layout.