Jul
23
Behind FT Deal, a Long History of Money-Losers for Japan Inc.
ByHere we go again?
Nikkei Inc.’s purchase of Pearson Plc’s FT Group raises once more the question of whether Japanese companies pay too much for overseas acquisitions. Since the 1990s, Japanese acquirers have purchased a series of assets — from Pebble Beach golf course to wireless carrier Sprint Corp. — that often proved financially disastrous, leaving their mark in history as some of the worst dealmakers.
In the latest case, Nikkei is paying 844 million pounds ($1.3 billion), a lofty price for a newspaper company. It’s five times what the Washington Post fetched in its 2013 sale…
Behind FT Deal, a Long History of Money-Losers for Japan Inc.
