For many in the industry, investment banking has gone back to the 1980s. It was an era where the top firms made money through their advice, rather than their trading operations or balance sheets.
And it was an era where Japan-related M&A was one of the most profitable businesses to be in.
More than 20 years of stagnation in the world’s second-biggest economy have followed. But now Japan is on a buying spree once again. And it’s fertile territory for investment banks looking to replicate the fee-based models of their past.
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