観光産業におけるM＆Aの分析

抄録

The purpose of this study was to examine the major attributes of the M&A (Mergers and Acquisitions) activities in Japanese tourism market by exclusively analyzing M&A Review. In this study, all M&A activities in 1990s were sorted out into the type, sector and the purpose of M&A. The finding shows that the M&A activities in 1990s were more like partial consolidation between companies, and the domestic M&A activity (In-In M&A) was prominent compared with the foreign acquisitions. The finding also proves that the scale of transactions within the tourism industry was relatively bigger and wider than that of other industries, and the M&A activities mainly took place for the purpose of diversifying, spreading and restructuring of the companies.