Friday's headlines: Goldman edges out Nomura on M&A deals in Japan

Goldman Sachs is on its way to taking the top spot among advisers on Japanese takeovers for the first time in five years, supplanting Nomura, according to Bloomberg.

Japanese companies hired Goldman to oversee $54.1 billion of acquisitions so far this year compared with Nomura's $47.2 billion, followed by Deutsche Bank with $47 billion. In 2010, Nomura lead the pack with $47.6 billion in deals, followed by J.P. Morgan with $27 billion, while Goldman trailed at No. 7 with about $10 billion. Local investment banks were lower in the rankings even as the number of transactions jumped.

Goldman has an edge in Japan with local clients because more than 90 percent of its 1,000 staff in that country is Japanese. About 100 employees work on M&A.

The article quotes Koji Hirai, CEO of M&A advisory firm Kachitas: "Foreign banks are increasingly advising on domestic deals because Japanese corporates are merging to compete overseas, and they need their global expertise. Goldman's brand has value because of its history and track record."

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