Like thousands of other Japanese business owners, Kisshokichi founder Kiyomi Akagi, who built one of the world's largest certified Kobe beef chains, faced the challenge of succession. To ensure his company's future, he sold a majority stake in the business.
Search funds, private equity firms and M&A brokers are redefining what succession means in a country where businesses traditionally pass down within families. Many business owners' children choose different careers instead of taking over the family business. With fewer willing heirs, Japan's aging owners are increasingly turning to M&A to preserve their companies.
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