Expansion of the Business Succession and M&A Market Against a Backdrop of a Shortage of Successors
First written in FY2021. 8 of 15 entries say "Restated". Latest entry: 2026-06-25.
5 other companies' latest entry also says "Restated".
- 2026-06-25RestatedManagement planning
「Approximately half of companies have no successor. The number of domestic M&A transactions reached a record high in 2025.」
The lack of successors and expansion of the business-succession M&A market were reaffirmed as the background to business opportunities. - FY2026Business succession M&A market data updatedAnnual report
「The number of domestic M&A transactions increased from 3,050 in 2017 to 5,115 in 2025, a new record high. / Although the successor absence rate has improved to 50.1%, successors are still absent at approximately half of all companies.」
The number of domestic M&A transactions was updated to 5,115 in 2025, and the average age of business owners of 63.81, the proportion aged 70 or older of 34.7% and the successor absence rate of 50.1% were added as background to the business succession market. - 2026-05-14RaisedRevisions to earnings forecasts
「As the business succession issue facing mid-sized and small companies becomes more serious, demand for M&A as a means of succession—particularly seller-side demand—has increased further.」
The worsening business succession problem and further increase in demand for M&A sales were described. - FY2025-H1RestatedAnnual report
「As the business succession problem facing mid-sized and small and medium-sized enterprises became more serious, demand for M&A as a means of business succession, or demand to sell businesses, increased further.」
The successor problem facing mid-sized and small and medium-sized enterprises and growing demand to sell businesses through M&A continue to be described as business conditions. - FY2024Business succession M&A market data updatedAnnual report
「Against this backdrop, according to Recof Data, the number of domestic M&A transactions increased nationwide from 3,050 in 2017 to 4,015 in 2023.」
The number of domestic M&A transactions was updated to 4,015 in 2023, continuing to show the expansionary trend in the business succession and M&A market as a business condition. - FY2024-Q3RestatedAnnual report
「In the business succession investment business serving mid-sized and small and medium-sized enterprises, which is one of the Group's business areas, demand for M&A as a means of business succession, or demand to sell businesses, increased further as the business succession problem facing mid-sized and small and medium-sized enterprises became more serious, supported by the stagnation of economic and social activity caused by the spread of COVID-19.」
The worsening successor problem facing mid-sized and small and medium-sized enterprises and growing demand to sell businesses through M&A continue to be described as business conditions. - FY2024-Q2RestatedAnnual report
「In the business succession investment business serving mid-sized and small and medium-sized enterprises, which is one of the Group's business areas, demand for M&A as a means of business succession, or demand to sell businesses, increased further as the business succession problem facing mid-sized and small and medium-sized enterprises became more serious, supported by the stagnation of economic and social activity caused by the spread of COVID-19.」
The worsening successor problem facing mid-sized and small and medium-sized enterprises and growing demand to sell businesses through M&A continue to be described as business conditions. - FY2024-Q1RestatedAnnual report
「In the business succession investment business serving mid-sized and small and medium-sized enterprises, which is one of the Group's business areas, demand for M&A as a means of business succession, or demand to sell businesses, increased further as the business succession problem facing mid-sized and small and medium-sized enterprises became more serious, supported by the stagnation of economic and social activity caused by the spread of COVID-19.」
The worsening successor problem facing mid-sized and small and medium-sized enterprises and growing demand to sell businesses through M&A continue to be described as business conditions. - FY2023Business succession M&A market data updatedAnnual report
「Against this backdrop, according to Recof Data, the number of domestic M&A transactions increased nationwide from 3,050 in 2017 to a record high of 4,304 in 2022.」
Market data showing that the number of domestic M&A transactions reached a record high of 4,304 in 2022 was added, updating the expansionary trend in the business succession market. - FY2023-Q3RestatedAnnual report
「In the business succession investment business serving mid-sized and small and medium-sized enterprises, which is one of the Group's business areas, demand for M&A as a means of business succession, or demand to sell businesses, increased further as the business succession problem facing mid-sized and small and medium-sized enterprises became more serious, supported by the stagnation of economic and social activity caused by the spread of COVID-19.」
The worsening business succession problem facing mid-sized and small and medium-sized enterprises and growing demand to sell businesses through M&A continue to be described as business conditions. - FY2023-Q2RestatedAnnual report
「In the business succession investment business serving mid-sized and small and medium-sized enterprises, which is one of the Group's business areas, demand for M&A as a means of business succession, or demand to sell businesses, increased further as the business succession problem facing mid-sized and small and medium-sized enterprises became more serious, supported by the stagnation of economic and social activity caused by the spread of COVID-19.」
The worsening business succession problem facing mid-sized and small and medium-sized enterprises and growing demand to sell businesses through M&A continue to be described as business conditions. - FY2022Business succession M&A market data updatedAnnual report
「The number of M&A transactions centered on business succession increased from 3,050 in 2017 to a record high of 4,280 in 2021 nationwide.」
Market data showing that the number of M&A transactions centered on business succession reached 4,280 in 2021 was added to explain the market's expansionary trend. - FY2022-Q3RestatedAnnual report
「In the business succession investment business serving small and medium-sized enterprises, which is one of the Group's business areas, demand for M&A as a means of business succession, or demand to sell businesses, increased further as the business succession problem facing small and medium-sized enterprises became more serious, supported by the stagnation of economic and social activity caused by the spread of COVID-19.」
The worsening business succession problem facing small and medium-sized enterprises and growing demand to sell businesses through M&A continue to be described as business conditions. - FY2022-Q1Growing demand for business succession M&AAnnual report
「As the business succession problem facing small and medium-sized enterprises became more serious, demand for M&A as a means of business succession, or demand to sell businesses, increased further, supported by the stagnation of economic and social activity caused by the spread of COVID-19.」
The disclosure stated that, in addition to the worsening business succession problem, demand to sell businesses through M&A increased further against the backdrop of the spread of COVID-19. - FY2021First statedAnnual report
「It has been announced that more than 300,000 business owners will reach age 70 over the next 5 years, while 60% have no successor determined.」
The increase in companies without successors was described as a backdrop to the business opportunity. Market data was also provided, including approximately 600,000 companies for which third-party succession is expected to be encouraged by 2025.