Hunt for foreign assets pits Japan Inc vs China

Well, the Chinese still have a domestic econ that is pretty massive, even if it is slowing. Japan's is shrinking, if I ran a Japanese company, I would spend a considerable amount of of free cash flow on M&A outside of Japan. I don't care if I was a small bank or grocery chain. I would buy, or buy equity stakes in other companies. This is survival for many Japanese companies, while for China it is a luxury

Although China does in fact face the same demographic changes that are happening in Japan now - it's just a decade or so behind. They didn't scrap the one child policy out of concern for human rights! (And scrapping it isn't going to save them from a shrinking population). So Chinese companies would be absolutely right to start doing this now, as it will in due course be necessary for them too.

Chinese buyers are normally state-linked, and their aims often involve Beijing’s industrial policy objectives, so profitability is not always the top priority

State companies can always write the cheques off the taxpayers, of course

Japanese companies hoarding $3 trillion in cash but can't give a decent raise to it's employees?? Shame on them.

As for size who is up?

and the sellers are laughing all the way to the bank