Japanese corporations bought up 222 companies in the US in 2023
Business
In 2023, major Japanese companies spent about 5.348 trillion yen (roughly $36bn) to buy US companies, up 30% from the previous year. This caused political problems due to the acquisition of 222 US companies of various sizes.
The announcement by Japanese steel giant Nippon Steel to acquire steelmaker U.S. Steel for $14.1bn was a major sensation in this direction in December 2023. In addition, the Japanese side agreed to repay debts of the U.S. company worth about $742 million. In the same year, prefabricated homes manufacturer Sekisui House and cosmetics giant Shiseido also made major acquisitions in the U.S.
Japanese companies are forced to seek investment abroad because of the shrinking domestic market caused by an ageing population. However, their activity is provoking some resistance in the US. The steelworkers' union USW has opposed the acquisition of U.S. Steel, and former President Donald Trump has promised to stop the deal if he returns to power. The White House's National Economic Council also called for a review of the situation surrounding the Japanese corporation's attempt to acquire U.S. Steel.
Japanese companies are forced to seek investment abroad because of the shrinking domestic market caused by an ageing population. However, their activity is provoking some resistance in the US. The steelworkers' union USW has opposed the acquisition of U.S. Steel, and former President Donald Trump has promised to stop the deal if he returns to power. The White House's National Economic Council also called for a review of the situation surrounding the Japanese corporation's attempt to acquire U.S. Steel.
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