Frank Aquila Quoted in Financial Times Article on Japanese M&A Market

October 18, 2012

Mr. Aquila was quoted in the article, “Yen Slide Raises Questions on M&A Hopes,” published in the October 18 issue of the Financial Times. The article discussed how the strength of the yen has prompted Japanese companies to pursue outbound acquisitions, which recently hit a record annual high. Mr. Aquila said, “Many Japanese companies have strong balance sheets, significant cash positions and access to cash at almost no cost. Taken together with a strong yen, Japanese companies are in a perfect position to make acquisitions around the world.” However, with signs pointing to a weakening yen in recent weeks, future M&A activity in Japan is uncertain. Despite this uncertainty, some argue the yen’s value is unlikely to affect a longer-term structural shift in Japanese companies that are seeking growth in overseas deals.