Japan to promote foreign takeovers of heirless companies

Rising numbers of businesses at risk of closure due to lack of successors

The number of Japanese small companies facing closure due to a lack of successors is increasing. (Photo by Makoto Kawakami)

Nikkei staff writers

October 16, 2018 18:45 JST

TOKYO -- The Japanese government is set to launch a service aimed at helping foreign companies take over small businesses in the country that are struggling to find successors to aging leaders.

The service, planned by the Ministry of Economy, Trade and Industry and provided through the Japan External Trade Organization, is designed to save companies with viable products and services from going out of business by encouraging foreign entities to take over their operation through mergers and acquisitions.