Morgan Stanley top for 1st time in 16 years

Sunset in Tokyo, Japan

Morgan Stanley is set to take the top spot in Japanese mergers and acquisitions for the first time in 16 years, a sign the U.S. firm’s three-year-old tie-up with the bank is paying off.

Bloomberg reports that through its venture with Mitsubishi UFJ Financial Group, Morgan Stanley advised on 41 takeovers this year, valued at $28.3bn, data compiled by Bloomberg show.

Goldman Sachs is second, followed by Bank of America. Nomura Holdings, which last year lost the No. 1 position for the first time since 2007, is fourth.

Morgan Stanley and Mitsubishi UFJ, which bought a $9bn stake in the Wall Street firm in 2008 and is its biggest shareholder, are beating Nomura to business advising clients on deals abroad as Japanese companies look overseas for growth. Their partnership is bearing fruit at a time when the economy and stock market are recovering amid Prime Minister Shinzo Abe’s efforts to stimulate growth.

'They’re successfully sharing roles in Japan and overseas not only for M&A advice but also public offerings', said Makoto Kikuchi, Tokyo-based chief executive officer at Myojo Asset Management Japan Co. 'They’re demonstrating their strength in a positive market environment'.

Among managers of Japan equity offerings, Morgan Stanley and Mitsubishi UFJ are ranked third this year, the same position they held in 2012 and up from fifth in 2011, the data show.

Mitsubishi UFJ Morgan Stanley Securities Co. was involved in the five biggest Japanese takeovers for the year, including Tokyo Electron’s $6.8bn merger with Santa Clara, California-based Applied Materials, the data show. The firm leads the ranks for cross-border deals, which at $57.5bn make up more than half the value of total transactions.

To access the complete Bloomberg article hit the link below:

Morgan Stanley Leads Japan M&A for First Time Since 1997

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