Japanese banks less reluctant to finance hostile takeovers, lobby chief says

Barley Risotto and Kimchi: A Culinary Crossroads| SaltWire #food #cookingshorts #kimchiTOKYO - Japanese banks have become less reluctant to finance hostile acquisitions because the government's new takeover guidelines have shaken off the taboo on such deals, Japan's new banking lobby chief said.

Hostile bids, once shunned because they were seen as disruptive to Japan Inc's collaborative ethos, are still relatively rare, but the frequency is increasing. The non-binding guidelines have already prompted companies such as electric motors manufacturer Nidec and life insurer Dai-ichi Life Holdings to launch hostile takeover bids.

"The atmosphere for unsolicited bids is changing, and we've seen a rise in such deals in our pipeline," he added.

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