[March 2026 M&A Statistics] 150 Deals (Up 19), Setting a Record High for a Single Month Since Statistics Began in 2008
M&A Online reported that the number of M&A transactions in March 2026 hit a record high of 150 for a single month. Despite a drop in total value, the market remains active, led by fund-driven privatizations.
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- 📰 Published: April 3, 2026 at 00:30
- 🔍 Collected: April 2, 2026 at 19:36
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The number of M&A transactions in March 2026 (based on timely disclosure, provisional figures) was 150, an increase of 19 from 131 in the same month last year. Since statistics began in 2008, it has recorded the highest number ever for a single month. On the other hand, the total transaction value was 1.3017 trillion yen, a decrease of 61.4% from the same month last year (3.3701 trillion yen). This is a reaction to the mega-deal (SoftBank Group's acquisition of US-based Ampere Computing as a subsidiary) that occurred in the same month last year. However, it remains the third highest level for the month of March historically, indicating the M&A market continues to be booming.
M&A Online aggregated M&A transactions involving a transfer of management rights (excluding intra-group reorganizations) from among the timely disclosure information mandated for listed companies.
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## Transaction Trends
The M&A market in March was notable for large-scale deals led by global investment funds, including those from the US. The top deals by value were dominated by privatizations of listed companies via TOB (Takeover Bids) and cases where investment funds acted as buyers. This can be seen as an alignment of interests between corporate management teams wanting to distance themselves from shareholders' short-term profit return demands in order to pursue management reform and business investment from a medium-to-long-term perspective, and investment funds aiming for returns through enhancing the potential value of companies. Furthermore, both "outbound" deals, where Japanese companies acquire foreign companies, and "inbound" deals, where foreign companies acquire Japanese companies, were active, showing that cross-border M&A continues to drive economic globalization.
## Top 3 Deals by Transaction Value
### 1st Place: Taiyo Holdings - Transaction Value: Approx. 490.7 Billion Yen
Taiyo Holdings, a global manufacturer of chemical products for printed circuit boards used in smartphones and PCs, will accept a TOB by major US investment fund KKR and take its shares private. By going private, the aim is to further strengthen its competitiveness in the global market under agile and flexible management decisions.
### 2nd Place: Nippon Sheet Glass - Transaction Value: Approx. 165 Billion Yen
Nippon Sheet Glass, a global company in architectural and automotive glass, will raise approximately 165 billion yen through a third-party allotment of new shares to companies under the US investment fund Apollo Global Management. This will result in the company going private, strengthening its financial foundation and accelerating management restructuring.
### 3rd Place: Otsuka Holdings - Transaction Value: Approx. 111.7 Billion Yen
Otsuka Pharmaceutical, a subsidiary of Otsuka Holdings, will acquire US-based drug development company Transient Therapeutics as a subsidiary. The goal is to expand the development pipeline in the psychiatric and neurological fields, and as part of a strategy to achieve sustainable growth by incorporating promising overseas technologies and products amidst slowing growth in the domestic market.
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## What is M&A Online?
M&A Online aggregated M&A transactions involving a transfer of management rights (excluding intra-group reorganizations) from among the timely disclosure information mandated for listed companies.
[Click here for the full article]
## Transaction Trends
The M&A market in March was notable for large-scale deals led by global investment funds, including those from the US. The top deals by value were dominated by privatizations of listed companies via TOB (Takeover Bids) and cases where investment funds acted as buyers. This can be seen as an alignment of interests between corporate management teams wanting to distance themselves from shareholders' short-term profit return demands in order to pursue management reform and business investment from a medium-to-long-term perspective, and investment funds aiming for returns through enhancing the potential value of companies. Furthermore, both "outbound" deals, where Japanese companies acquire foreign companies, and "inbound" deals, where foreign companies acquire Japanese companies, were active, showing that cross-border M&A continues to drive economic globalization.
## Top 3 Deals by Transaction Value
### 1st Place: Taiyo Holdings - Transaction Value: Approx. 490.7 Billion Yen
Taiyo Holdings, a global manufacturer of chemical products for printed circuit boards used in smartphones and PCs, will accept a TOB by major US investment fund KKR and take its shares private. By going private, the aim is to further strengthen its competitiveness in the global market under agile and flexible management decisions.
### 2nd Place: Nippon Sheet Glass - Transaction Value: Approx. 165 Billion Yen
Nippon Sheet Glass, a global company in architectural and automotive glass, will raise approximately 165 billion yen through a third-party allotment of new shares to companies under the US investment fund Apollo Global Management. This will result in the company going private, strengthening its financial foundation and accelerating management restructuring.
### 3rd Place: Otsuka Holdings - Transaction Value: Approx. 111.7 Billion Yen
Otsuka Pharmaceutical, a subsidiary of Otsuka Holdings, will acquire US-based drug development company Transient Therapeutics as a subsidiary. The goal is to expand the development pipeline in the psychiatric and neurological fields, and as part of a strategy to achieve sustainable growth by incorporating promising overseas technologies and products amidst slowing growth in the domestic market.
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## What is M&A Online?