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78.1% of Japanese firms see emerging countries buying Japanese firms as "threat" -- The most anticipated cause of industry reorganization is a "shrinking market," roughly 50% say -- Introduction Amidst a tough corporate earnings environment and sluggish personal spending, many industries are experiencing reorganization, such as business tieups in the auto industry as well as through management integration issues in the food and beverage industry. Teikoku Databank conducted a survey to study about corporate attitudes towards industry reorganization. Research Period: April 20 to 30, 2010 Research Subject: 21,431 corporations across the nation (Valid Responses: 10,772 corporations; response rate 50.3%) This is the third survey on industry reorganization, following one on April 2008 and another on September 2009. Results of the Research 78.1% see acquisition of Japanese firms by those of emerging nations as a "threat" to the Japanese economy 4,185 firms, accounting for 38.9% of all 10,772 valid responses, said they expected acquisition of Japanese companies led by those based in emerging nations (including business acquisitions and business alliances) would lead to an outflow of technologies and a decline in the competitiveness of Japanese firms’ ability to make things, and thus become a "major threat" to the Japanese economy. In addition, 39.2% said these factors would become a “minor threat” to the Japanese economy, indicating that nearly 80%, or 78.1%, thought they would be a threat to the Japanese economy. 20.8% see reorganization progresses in FY2009, more than 60% not 355 firms, accounting for 3.3% of all 10,772 valid responses, said that they thought reorganization in their industries (including mergers, business transfers and business alliances) progressed in fiscal 2009 (from April 2009 to March 2010). In addition, 17.5% said that they thought it progressed somewhat, indicating that 20.8%, or one out of every five firms, thought industry reorganization was progressing. Meanwhile, 21.3% said that they thought reorganization had not progressed at all and 39.0% said it had not progressed very much, indicating that more than 60%, or 60.4%, believed industry reorganization did not progress. Nearly 50% see reorganization as defensive 392 firms, accounting for 3.6% of all 10,772 valid responses and far fewer than 10% of the total, said that industry reorganization is based on aggressive intentions such as business expansion and business diversification. In contrast, 26.6%, or one out of every four companies, think it is based on defensive intentions that are inevitable to survive. 21.0% said it is based on both aggressive and defensive intentions, indicating that 47.6%, or nearly 50%, thought it is based on defensive intentions. 45.0% expect reorganization to progress 588 firms, accounting for 5.5% of all 10,772 valid responses, said that they expect reorganization to progress rapidly in their respective industries and 39.5% expect it to progress modestly, indicating that more than 40% expect it to progress. Meanwhile, 8.2% expect that reorganization will not progress at all and 26.8% that it would progress very little, indicating that 34.9% expect reorganization will not progress. 90.6% of the 2,244 companies that said reorganization had been progressing, or 2,032 companies, said that they expected it to continue to progress. In addition, 39.0% of the 6,503 companies that said it had not been progressing said that they expect it to progress. These numbers indicate that they expect it to progress further. Survey on corporate attitudes towards industry reorganization 
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