[June M&A Summary] 111 deals, exceeding 100 for 11 consecutive months; large-scale transactions including JSB's privatization

In June 2026, the number of M&A deals (based on timely disclosures) reached 111, marking the 11th consecutive month to surpass the 100-deal threshold. This is the same number as the same month last year.

The total transaction value was approximately 860 billion yen, driven by large-scale deals exceeding 100 billion yen, such as the privatization of Japan Student Services Organization (JSB) and Mitsui Chemicals' acquisition of an overseas company. M&A Online editorial department compiled data on M&A involving the transfer of management control (excluding intra-group reorganizations) from the timely disclosure information of listed companies.

M&A Deal Count and Value Trends

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Transaction Trends

The number of M&A deals in 2026 is on track to surpass the record high of 1,344 deals in 2025.

The cumulative total from January to June is 733 deals, an increase of 72 deals compared to the same period last year. With a tendency to increase towards the end of the year, exceeding 1,500 deals annually is within sight. The M&A market continues to be active, with companies pursuing improvements in capital efficiency and focusing on core businesses.

On the other hand, the total transaction value decreased by approximately 86% compared to the same month last year, partly due to the rebound from the privatization deal of Toyota Industries Corporation (5.9209 trillion yen) in the same month last year.

Top 3 Companies by Transaction Value

1st Place: Warburg Pincus (USA) Transaction Value: Approx. 191.8 billion yen

Warburg Pincus is conducting a tender offer (TOB) for JSB, which plans, develops, and operates student housing, to take it private. The aim is to strategically execute medium- to long-term growth strategies, including expanding the number of managed units through new property development in Tokyo and the metropolitan area, responding to increasing demand from international students, and developing student housing businesses overseas.

2nd Place: Mitsui Chemicals Transaction Value: Approx. 144.3 billion yen

Mitsui Chemicals will acquire Ultradent, a US dental materials manufacturer, as a subsidiary. Mitsui Chemicals positions the healthcare field as a core business driving future growth, and through this acquisition, aims to further expand its presence in the global dental materials market and strengthen its business foundation.

3rd Place: LINE Yahoo Transaction Value: Approx. 134.3 billion yen

Through its consolidated subsidiary PayPay, LINE Yahoo will acquire and make T&D Financial Life Insurance, a subsidiary of T&D Holdings, its own subsidiary. Leveraging its robust payment platform, the company aims to strengthen service integration in the financial and insurance sectors, driving further business expansion and synergy creation. M&A Online

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Strike Group Corporation

Operating Company: Strike Group Corporation

Name: Strike Group Corporation

(Listed on TOKYO PRO MARKET, Securities Code 6196)

Location: 15F, Mitsui Bussan Building, 1-2-1 Otemachi, Chiyoda-ku, Tokyo

Representative: Kunihiko Arai, President and Representative Director

Established: July 1997

Business Activities: M&A Support

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