Reuters reported that Goldman Sachs has risen to the top spot of Japan's M&A league table so far in 2011 after securing an advisory role in a USD 22.5 billion steel industry merger, relegating perennial leader Nomura to second place for now.
Last week, the planned acquisition of Sumitomo Metal Industries Ltd by Nippon Steel Corp was added to the official tally after they announced the share swap ratio and other details of their mega deal.
The transaction is valued at JPY 1.7155 trillion, including debt, making it the biggest merger or acquisition involving a Japanese company so far this year.
Due to its role in advising Sumitomo Metal, Goldman now sits atop the closely watched M&A league table with a hand in JPY 4.03 trillion worth of deals so far in 2011. Nomura, which is not involved in the steel merger, ranks second at JPY 3.74 trillion.
Nomura has held been the leader in Japan M&A for four straight years from 2007, underscoring its strong position as the country's largest investment bank.
Goldman last led the pack on an annual basis in 2006 when it was credited for advising Britain's Gallaher on its takeover by Japan Tobacco, a deal valued at JPY 2.2 trillion.
Nippon Steel is being advised by Mitsubishi UFJ Morgan Stanley Securities, Mizuho Securities, Bank of America Merrill Lynch and JP Morgan. In addition to Goldman, SMBC Nikko Securities, Deutsche Securities and Daiwa Securities Capital Markets are advising Sumitomo Metal.
According to Thomson Reuters data, following is the league table for Japan M&A advisory so far in 2011.
| Rank | Firm | Value | Market Share | No of Deals |
| 1 | Goldman Sachs | 4.03 | 42.3 | 11 |
| 2 | Nomura | 3.74 | 38.5 | 88 |
| 3 | Deutsche | 3.62 | 38.3 | 17 |
| 4 | Morgan Stanley | 2.87 | 30.5 | 37 |
| 5 | BOA Merrill Lynch | 2.72 | 29.0 | 17 |
| 6 | Mizuho | 2.52 | 26.9 | 70 |
| 7 | JP Morgan | 2.34 | 25.1 | 11 |
| 8 | SMFG | 2.26 | 24.3 | 72 |
| 9 | Daiwa Securities | 1.96 | 21.3 | 40 |
| 10 | Credit Suisse | 1.70 | 17.5 | 12 |
(Sourced from www.reutgers.com)
