Analysis:7-Eleven battle shows resilience of Japan Inc's family ties

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Analysis:7-Eleven battle shows resilience of Japan Inc's family ties - Channel News Asia

Quick Summary:

TOKYO : A rise in shareholder activism in Japan is poised to fuel a new wave of management buyouts by founding families, after the battle for 7-Eleven's parent company prompted a $58 billion takeover offer from the Ito dynasty that built the retail giant.

Some 10 per cent to 30 per cent of listed Japanese companies from the 1960s to 2010 were managed by founding family heirs with "little ownership to report", Morten Bennedsen, Vikas Mehrotra and their co-authors found.

MBOs are becoming an attractive option because the governance overhaul has created bigger burdens for listed firms, while being a public company no longer confers the status it once did, said Ulrike Schaede, a professor of Japanese business at the University of California San Diego.