安倍经济学与中国企业的对日并购

Abenomics and the M&A by Chinese Companies in Japan

安倍经济学"第三支箭"提出了日本吸引海外投资的具体数量目标,对于正在"走出去"的中国企业而言,通过并购投资日本企业可以获得更多技术与经营资源,同时部分日本企业可获得市场与资金,这符合两国企业发展和产业升级的需要。但安倍经济学能否确实推进中国企业的对日投资并购尚存在诸多不确定因素。日本对来自海外的直接投资长期持谨慎态度,虽然相关限制政策被取消,但仍存在诸多行政障碍。加之传统日本企业对并购有较强戒备心理,日本至今仍是发达经济体中接受海外投资最少的国家。安倍经济学的实施有利于中国企业"走出去",在日本进行投资,但日本市场的特殊性、高额的商务成本以及中日企业文化差异等因素成为对日投资并购的障碍。

The third arrow＇of Abenomics puts forward a specific quantitative target for attracting foreign invest- ment into Japan. To Chinese companies which are going global, it is possible to obtain more technology and business resources from Japan by FDI or M＆A, while part of the Japanese enterprises can get market and cap- This conforms to the need of enterprise development and industrial upgrading in both countries. But there are still many uncertain factors if Abenomics can really increase the M＆A cases from China. Japan has been treating direct out - in investments in cautiousness. Though some restrictions against foreign capital acceptance were eased or cancelled, there are still many administrative obstacles. Some Traditional Japanese companies are still in high psychological alert to M＆A from foreign countries. Now among developed countries, Japan is the one that accept the least overseas investment. The implementation of Abenomics is conducive to attract China investments into Japan. Yet, on the other side, the particularity of the Japanese market, high business cost and the gap of Sino -Japanese enterprise culture will lay obstacles to attracting foreign capitals.