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Morgan Stanley take top position in Japan M&A in 16 years - report

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November 28
9:42 PM 2013

A Bloomberg report said Morgan Stanley now leads mergers and acquisitions in Japan after 16 years. The bank was able to advise 41 takeovers in 2013 through its tie-up with Mitsubishi UFJ Financial Group Inc, the largest bank in Japan. Data gathered by Bloomberg revealed that the deals were worth USD 28.3 billion.

According to the report, Goldman Sachs Group Inc is in second place while Bank of America Corp is in third position. Nomura Holdings Inc which held the top spot since 2007 until last year ranked fourth.

The partnership of Morgan Stanley and Mitsubishi UFJ are getting more business advising clients on overseas deals than Nomura as more Japan-based firms look to expand abroad. The report added that the firms were reaping the fruits of their alliance as the economy and the stock market show signs of recovery.

Myojo Asset Management Japan Co Chief  Executive Officer Makoto Kikuchi told Bloomberg, "They're successfully sharing roles in Japan and overseas not only for M&A advice but also public offerings. They're demonstrating their strength in a positive market environment." Morgan Stanley and Mitsubishi UFJ rank third in 2013 among managers of Japan equity offerings. Data showed that they held the same position last year. The year before that, they only ranked fifth.

Mitsubishi UFJ Morgan Stanley Securities Co is also at the top as far as cross-border deals are concerned. They were part of the five largest Japanese takeovers for 2013. Of these was the USD 6.8 billion merger of Tokyo Electron Ltd with Applied Materials Inc, a company based in California.

Mitsubishi UFJ Morgan Stanley Deputy President and Chief Executive Officer for Investment Banking Haruo Nakamura told Bloomberg in an interview, "Japanese companies continue to make acquisitions abroad to secure a bridgehead or boost market share. They have ample cash and strong balance sheets, and large acquisitions will increase."

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