TOKYO -- Corporate Japan is reining in investment as the coronavirus spreads worldwide, driving first quarter merger and acquisition deals to decline for the first time in three years.
The value of deals struck by Japanese companies fell 42% in in the three months through to the end of March compared with the same period a year ago, according to data from Tokyo-based M&A consultancy Recof. The number of deals fell 4.5% to 978 year-on-year.
