Japan is witnessing a surge in mergers and acquisitions, particularly among small and medium-sized enterprises, driven by an ageing population and a lack of successors. However, rising complaints about dubious buyers and contract breaches have prompted authorities to revise M&A guidelines, urging thorough vetting of buyers and increased transparency from intermediaries. The case of Lucian Holdings, which allegedly misappropriated funds after acquiring a confectionery company, highlights the urgent need for protective measures in the sector.
