Mizuho Financial Group Inc. subsidiary Mizuho Bank Ltd. launched a business partnership with M&A Capital Partners Co.Ltd. to promote outside acquisitions of family-run businesses that do not have successors.
Mizuho Financial said the alliance addresses the growing need for takeover-mediation services in the ailing midsize business sector.
As Japan's population ages and declines, many Japanese medium-sized businesses are struggling to survive because of a lack of family members to take them over. Under the partnership, Mizuho will leverage its massive corporate client base to introduce prospective buyers to M&A Capital Partners, which would then attempt to mediate a takeover, The Nikkei reported.
The partnership will primarily target companies with net assets of roughly ¥500 million.
As of Aug. 7, US$1 was equivalent to ¥105.70.