Japan’s PE market is thriving, with potential for exits to follow | White & Case LLP

Stronger stock market performance bodes well for exit conditions in Japan’s rapidly maturing PE spac

Interested observers have long anticipated the “arrival” of Japan’s private equity market. As the world’s fourth-largest economy after the US, China and Germany, the country has no shortage of companies. Almost 4,000 businesses are currently listed on the Tokyo Stock Exchange—for comparison, the New York Stock Exchange carries around 2,400—not to mention the millions of privately owned businesses that dot Japan.

Add to that prolonged deflation, which the government is only now considering ending, after more than two…