| 01/05 | Other | Hong Kong | Professional Services | Kosaido HD <7868> announces results of treasury-share repurchase via ToSTNeT-3; Hong Kong’s PA ACE IV (HK) sells part of its holdings |
| 01/06 | Investment | Hong Kong | Logistics | MLC Innovation No. 1 Investment LP invests in Hong Kong’s Buyandship Holdings, a cross-border e-commerce support platform |
| 01/07 | Acquisition | Thailand | Healthcare | Rohto Pharmaceutical <4527> acquires wellness-related company Thann Oryza of Thailand |
| 01/07 | Acquisition | Thailand | Consumer & Retail | INFORICH <9338> makes CHARGESPOT (THAILAND) COMPANY, its Thai franchise operator, a subsidiary by acquiring a 49% stake |
| 01/07 | Acquisition | Singapore | Industrial Services | Ando Hazama <1719> acquires Singapore construction-works firm QXY Resources |
| 01/07 | Capital Alliance | India | Financials | Terra Motors, a mobility-ecosystem player, enters a capital alliance with India’s major microfinance institution AROHAN |
| 01/09 | Sale | Thailand | Other Manufacturing | Uchinuki (perforated metal-mesh manufacturing) transfers the Thai operations of affiliate Uchinuki Industry Thailand to THAI IKEDA |
| 01/13 | Investment | Singapore | Transportation Equipment | MOL PLUS, the CVC of Mitsui O.S.K. Lines <9104>, invests in Singapore’s Pyxis Maritime, a developer/manufacturer of small EV vessels |
| 01/13 | Investment | India | Logistics | A fund operated by ENRISSION INDIA CAPITAL invests in India-born logistics-tech start-up Hexalog Technologies |
| 01/14 | Acquisition | India | Financials | Fintech start-up the Alpaca Group to acquire Zincmoney IFSC, a brokerage based in India’s GIFT City international financial center |
| 01/14 | Merger | Taiwan | Electronics | FDK <6955> merges its Taiwanese subsidiaries FUCHI ELECTRONICS and FDK TAIWAN |
| 01/14 | Joint Venture | South Korea | Media & Entertainment | Pasona Group <2168> establishes joint venture ‘PASONA VIV JAPAN’ with South Korea’s VIVE STUDIOS (video production) |
| 01/16 | Investment | China | Information & Communications | Mitsubishi Electric <6503> invests in Chinese software firm ADT Technology Service (Suzhou) |
| 01/21 | Joint Venture | Hong Kong | Electronics | Sony establishes a joint venture with Hong Kong’s TCL Electronics Holdings Limited, transferring its home-entertainment business to it |
| 01/22 | Acquisition | South Korea | Consumer & Retail | Axel Mark <3624> acquires Wellness Mores Laboratories, an importer/seller of inner-beauty products from South Korea and elsewhere |
| 01/23 | Investment | Singapore | Professional Services | A Global Brain–operated fund invests in Singapore’s FLEXII, a spot-work platform provider across Asia |
| 01/26 | Investment | Singapore | Information & Communications | Japan Org. for Int’l Cooperation in Telecom/Broadcasting/Postal Services, with Sumitomo Corp <8053> and others, provides debt/equity financing to Intra-Asia Marine Networks (Japan–Malaysia–Singapore submarine cable) |
| 01/26 | Sale | Vietnam | Logistics | Cool Japan Fund transfers its equity in Vietnam’s CLK COLD STORAGE (cold-storage warehousing) to JV partners Nippon Logitem <9060> and Kawasaki Kisen <9107> |
| 01/26 | Acquisition | Vietnam | Healthcare | NISSHA <7915> acquires Vietnamese medical-device maker USM Healthcare (60% stake) |
| 01/26 | Investment | Malaysia | Information & Communications | Japan Org. for Int’l Cooperation in Telecom/Broadcasting/Postal Services, with Sumitomo Corp <8053> and others, provides debt/equity financing to Intra-Asia Marine Networks (Japan–Malaysia–Singapore submarine cable) |
| 01/27 | Acquisition | Vietnam | Professional Services | Hakuhodo acquires a majority stake in Vietnam’s BCM Venture Integrated, an independent integrated digital agency |
| 01/28 | Capital Alliance | Singapore | Information & Communications | SKY Perfect JSAT enters a capital/business alliance with Singapore’s SpeQtral (satellite quantum-encryption communication) |
| 01/29 | Sale | Thailand | Chemicals & Materials | Bridgestone <5108> transfers the operations of its Thai/Chinese steel-cord subsidiaries to a Belgian company |
| 01/29 | Acquisition | Thailand | Consumer & Retail | Nichirei <2871> subsidiary Nichirei Foods acquires Thailand’s Surapon Supreme Foods (frozen-chicken processing), taking a 99.9% stake |
| 01/29 | Investment | Malaysia | Industrial Services | Sanki Engineering <1961> acquires a 40% stake in Malaysia’s ES Matrix (electrical/telecom/interior works), making it an equity-method affiliate |
| 01/29 | Sale | China | Chemicals & Materials | Yodogawa Steel Works <5451> signs a basic agreement to transfer its stake in Chinese subsidiary (Hefei high-tech steel plate) |
| 01/29 | Merger | Hong Kong | Electronics | Rhythm <7769> merges its Hong Kong subsidiaries RHYTHM HONG KONG and RHYTHM INDUSTRIAL (H.K.) |
| 01/29 | Capital Alliance | Taiwan | Energy & Resources | J Holdings <2721> enters a capital/business alliance with Taiwan’s Recharge Power (grid-scale storage batteries) |
| 01/30 | Acquisition | Australia | Transportation Equipment | Toyota Tsusho <8015> acquires, via a local entity, MCT Automotive Group, a used-vehicle buyer/seller in Australia |
| 02/02 | Acquisition | Malaysia | Professional Services | Greenhouse acquires Malaysia’s SHF Services and one other contract-food-services firm |
| 02/02 | Acquisition | Hong Kong | Financials | RS Holdings (renewable-energy generation) acquires a majority stake in Digital Climate Japan, the Japanese arm of Hong Kong investment bank Digital Climate Group |
| 02/03 | Acquisition | India | Chemicals & Materials | Horiba <6856> group’s Horiba India acquires synthetic-diamond R&D firm Pristine Deeptech of India |
| 02/03 | Capital Alliance | Taiwan | Information & Communications | Itochu <8001> enters a capital/business alliance with Taiwan’s Systex (enterprise IT services) |
| 02/04 | Investment | Singapore | Financials | United <2497> invests in Singapore’s Penguin Securities Holdings (comprehensive wealth management for HNW clients) |
| 02/04 | Sale | China | Electronics | Maxell <6810> transfers its entire stake in Chinese subsidiary Wuxi Maxell Energy to a local company |
| 02/04 | Investment | Pakistan | Logistics | NIPPON EXPRESS Holdings <9147> acquires shares in TCS Logistics, a domestic-logistics operator in Pakistan |
| 02/05 | Acquisition | Vietnam | Electronics | Switchgear maker Kawamura Electric acquires Vietnamese switchboard maker ANH THY JOINT STOCK COMPANY |
| 02/06 | Acquisition | Singapore | Electronics | Hakuto <7433> acquires Singapore’s Rabyte (electronics-product wholesale/distribution), taking a 76% stake |
| 02/06 | Acquisition | Singapore | Financials | Jaccs <8584> acquires a 49% stake in CAR TIMES CAPITAL, an auto-loan operator in Singapore |
| 02/06 | Acquisition | Indonesia | Professional Services | Yamazen <8051> to acquire Indonesia’s PT. Somagede Indonesia (wholesale of industrial goods such as cutting tools and adhesives) |
| 02/06 | Acquisition | India | Electronics | Hakuto <7433> acquires India’s Rabyte Edge (electronics-product wholesale/distribution), taking a 76% stake |
| 02/06 | Investment | India | Consumer & Retail | DG Daiwa Ventures invests in First Coffee, a Gen-Z specialty-coffee provider in India |
| 02/06 | Other | China | Transportation Equipment | Topy Industries <7231> unit Lintec cancels the planned stake transfer of Chinese subsidiary Lintec Guangzhou |
| 02/10 | Acquisition | Thailand | Media & Entertainment | tripla <5136> acquires the ‘booking2hotels.com’ hotel online-reservation-engine business from Thailand’s The TPM GROUP |
| 02/10 | Investment | India | Consumer & Retail | ENRISSION INDIA CAPITAL invests in India’s GoDesi (traditional-confectionery manufacturing/sales) |
| 02/12 | Acquisition | Singapore | Consumer & Retail | OIC Group (operator of the ‘Lopia’ supermarket chain) brings GO TO MIRAI, a Japanese-food specialty operator in Singapore, into its group |
| 02/12 | Sale | China | Electronics | RS Technologies <3445> sells a 1% stake in Chinese subsidiary YouYan Semiconductor Silicon Materials for approx. ¥3.494 billion |
| 02/16 | Acquisition | Singapore | Financials | SBI Holdings <8473> to acquire Singapore’s Coinhako, a major crypto-asset platform operator |
| 02/16 | Investment | Singapore | Financials | Sumitomo Mitsui Trust Bank invests in ‘AIGF III’, a fund operated by a Singapore subsidiary of Mitsubishi Corporation <8058> |
| 02/16 | Sale | South Korea | Financials | J Trust <8508> transfers its entire stake in South Korean subsidiary TA Asset Management & Lending |
| 02/19 | Partial Transfer | Taiwan | Chemicals & Materials | SUMCO <3436> sells part of its stake in subsidiary FORMOSA SUMCO TECHNOLOGY CORPORATION (Taiwan) on the market, making it an equity-method affiliate |
| 02/20 | Other | Taiwan | Information & Communications | GreenBee <3913> dissolves its capital/business alliance with Taiwan’s Kiwi Technology (product design and information-software services) |
| 02/24 | Sale | China | Chemicals & Materials | Taiheiyo Cement <5233> transfers its entire stake in Chinese subsidiary Jiangnan-Onoda Cement to Nanjing Yida Zongheng Building Materials |
| 02/25 | Capital Alliance | South Korea | Electronics | Stella Chemifa <4109> enters a capital/business alliance with South Korea’s Soulbrain Holdings (semiconductor materials) |
| 02/26 | Acquisition | Malaysia | Media & Entertainment | GENDA <9166> acquires Malaysia’s Ottotree Entertainment (karaoke-facility operations) |
| 02/26 | Acquisition | China | Chemicals & Materials | Chugoku Marine Paints <4617> acquires Diante Coatings (Zhejiang), a Chinese paint subsidiary of Dai Nippon Toryo <4611> |
| 02/27 | Sale | China | Machinery | Oriental Chain Mfg. <6380> transfers its entire stake in Chinese subsidiary Deqing Aoximu Chain to a local company |
| 02/27 | Investment | Taiwan | Chemicals & Materials | Shingi HD invests in Taiwan’s Minima Technology, a biodegradable-plastics maker |
| 03/02 | Partial Transfer | Thailand | Other Manufacturing | Toyo Seikan Group HD <5901> transfers a 25.9% stake in its Thai sub-subsidiary Bangkok Can Manufacturing to BG Container Glass of Thailand |
| 03/02 | Sale | Singapore | Real Estate | Architects Studio Japan <6085> transfers all of its holdings in Singapore subsidiary SUPASPACE |
| 03/02 | Acquisition | Singapore | Machinery | Longreach Group acquires Singapore’s RAM Lifting Technologies (spreader and lifting technology) |
| 03/02 | Acquisition | China | Information & Communications | Media Do <3678> acquires U.S.-based Seven Seas Entertainment (Japanese/Chinese/Korean manga and light-novel translation publishing) |
| 03/02 | Sale | China | Transportation Equipment | Futaba Industrial <7241> transfers its entire stake in Chinese subsidiary Tianjin Shuangxie Machinery to Chuangzaoshe Trading of China |
| 03/02 | Acquisition | South Korea | Transportation Equipment | NITTAN <6493> additionally acquires shares in equity-method affiliate Shinhwa Precision (South Korea), making it a subsidiary at a 51% stake |
| 03/02 | Joint Venture | South Korea | Media & Entertainment | U-NEXT HOLDINGS <9418> establishes a joint venture with South Korea’s CJ ENM and TBS Holdings <9401> |
| 03/02 | Acquisition | South Korea | Media & Entertainment | Media Do <3678> acquires U.S.-based Seven Seas Entertainment (Japanese/Chinese/Korean manga and light-novel translation publishing) |
| 03/03 | Acquisition | Taiwan | Consumer & Retail | IP mixer, a subsidiary of MicroAd <9553>, acquires Taiwan’s PAL FILLER (physical-store operation support for Japanese companies) |
| 03/05 | Acquisition | China | Consumer & Retail | Asahi Group’s Asied HD <9959> acquires Nitto Vending China (vending-machine operations) |
| 03/09 | Investment | Singapore | Financials | Toyo Seikan Group HD <5901> and others join the fund-of-funds ‘Cross Capital I Limited Partnership’ operated by Singapore’s Cross Capital |
| 03/10 | Investment | Malaysia | Chemicals & Materials | Nippon Steel <5401> subsidiary Nippon Steel Trading invests in Malaysia’s Leform Berhad (steel-pipe and guardrail manufacturing) |
| 03/12 | Investment | Singapore | Financials | Omusubi Venture Fund I, operated by Singapore’s Omusubi Capital VCC, completes its first close, with backers including Striders <9816> |
| 03/13 | Other | Singapore | Industrial Services | ASNOVA <9223> establishes subsidiary ‘ASNOVA Singapore’ in Singapore to drive M&A across the ASEAN region |
| 03/13 | Acquisition | Philippines | Consumer & Retail | Nissin Foods HD <2897> makes equity-method affiliate Nissin-Universal Robina Corporation (Philippines) a subsidiary, raising its stake to 70% |
| 03/13 | Investment | China | Machinery | Mitsubishi Electric <6503> invests in China’s Lumos Robotics Technology (humanoid-robot development) |
| 03/16 | Acquisition | Singapore | Financials | Uzabase acquires Singapore’s Alternatives.pe, a private-markets database provider |
| 03/17 | Merger | Indonesia | Logistics | NIPPON EXPRESS Holdings <9147> merges group companies NX Indonesia Logistics and NX Indonesia |
| 03/17 | Fundraising | South Korea | Media & Entertainment | grafto, operator of South Korean trend media ‘mylo magazine’, raises a seed round |
| 03/23 | Sale | Singapore | Real Estate | Park24 <4666> transfers all shares in sub-subsidiary TIMES24 SINGAPORE (parking operations) to Re Sustainability Solutions |
| 03/24 | Acquisition | Philippines | Energy & Resources | TOKAI Holdings <3167> subsidiary TOKAI makes Philippine hydropower operator Taft Hydroenergy a subsidiary |
| 03/25 | Acquisition | Thailand | Chemicals & Materials | Showa Packs <3954> additionally acquires shares in subsidiary Showa Packs Thailand, raising its stake to 99.8% |
| 03/25 | Sale | Malaysia | Information & Communications | Actbe <439A> transfers all shares in Malaysian subsidiary ACTBE SOUTHEAST ASIA to Office Navi |
| 03/26 | Sale | Thailand | Financials | GMO Internet <4784> announces its exit from the digital-asset business in Thailand |
| 03/26 | Acquisition | Vietnam | Machinery | Hoshizaki <6465> additionally acquires shares in Vietnamese sub-subsidiary ARICO (commercial/industrial freezer manufacturing), raising its stake to 99.616% |
| 03/26 | Investment | Malaysia | Chemicals & Materials | JOGMEC invests in Taiyo Koko Malaysia, the Malaysian unit of Taiyo Koko engaged in vanadium refining |
| 03/26 | Sale | Malaysia | Chemicals & Materials | Nisshin Kagaku (contract manufacturer of liquid cosmetics) takes over Malaysia’s Bodibasixs Manufacturing (OEM skincare manufacturing) |
| 03/26 | Investment | Taiwan | Electronics | Kioxia HD <285A> invests approx. ¥77.4 billion in Taiwan’s Nanya Technology Corporation (DRAM development/design) |
| 03/27 | Investment | India | Consumer & Retail | ENRISSION WI25 India Investment Partnership invests in India’s Smartz Wear Technology (manufacturing/sales of children’s apparel using sustainable textile materials) |
| 03/27 | Partial Transfer | Hong Kong | Other Manufacturing | Yamato Mobility & Mfg. <7886> transfers a 21% stake in equity-method affiliate Hong Kong Daiwa Kobo, lowering its stake to 19% |
| 03/27 | Investment | Taiwan | Electronics | A Global Brain–operated fund invests in Taiwan’s AuthenX (silicon-photonics products) |
| 03/31 | Acquisition | Thailand | Transportation Equipment | Zero <9028> acquires Auto Carrier (Thailand), an automobile-transport operator in the Mitsui O.S.K. Lines <9104> group, taking a 74% stake |
| 03/31 | Acquisition | Philippines | Information & Communications | Clyde, a subsidiary of FreeBit <3843>, announces the acquisition of Philippine software developer Fullspeed Technologies and related matters |