UNIDGE has published a proprietary report analyzing a total of 371 domestic startup M&A deals. The analysis covers 177 deals in FY2024 and 194 in FY2025, and uses data to show that small-scale M&A is a realistic option within the budget for new business development.
UNIDGE has published a report analyzing 371 domestic startup M&A deals, showing that small-scale M&A is a realistic option that can be pursued within the budget range for business development. Using Speeda data, the analysis extracts deals in which the period from founding to exit was no more than 10 years.
Startups are said to account for 63.9% of buyers and large companies for 30.1%. While unlisted companies and companies listed on the Growth Market are common buyers, large companies are said to still have room to increase their acquisitions. The data is said to show that the median deal value was approximately ¥410 million in FY2024 and approximately ¥280 million in FY2025, with deals below ¥500 million accounting for approximately 70% of the total.
Companies established within the past 3–8 years account for 65.4% of M&A deals, and the data is said to indicate a tendency for startups to consider M&A during this period in view of fund redemption periods. Representative examples include Mitsubishi Estate, PKSHA Technology, Oisix ra daichi and Ezaki Glico, with many cases reportedly proceeding to acquisitions after phased collaboration and capital investment.
Against this backdrop, UNIDGE highlights the importance of restructuring collaboration, capital investment and M&A as an integrated business development process in the practice of new business development and open innovation. The data from the full survey is said to be available for download at the URL below.