TOKYO -- Japan's corporate leaders are increasingly keen to expand through mergers and acquisitions, a Nikkei survey shows.
In the quarterly survey of top executives, 46.6% of the 148 respondents said they are actively looking for M&A targets. Of these, 72.5% said they are motivated by a desire to enter new markets and fields of business; 63.8% said they want to acquire personnel and technologies.
The ratio of companies in an acquisitive mood was up 4 percentage points from a year ago.
Asked which countries and regions they are scouting, 60.9% of the executives said the U.S. and Europe, followed by 52.2% for China and other emerging markets.
In addition, 58% of the respondents said they are considering or will consider domestic industry reorganization if it will bolster their international competitiveness.
Japanese businesses also appear confident that an economic recovery can be sustained, with stronger consumer spending and improving conditions in the U.S.
In the survey, 29.1% said they will put their cash reserves toward M&A deals.