Japanese companies step up buy-outs of foreign companies. In 2011, Japanese companies significantly stepped up their rate of acquisitions of foreign companies. This is a consequence of the historic increase in the value of the yen since 2008. Japanese companies have recently taken over part or all of the capital of 455 companies based outside the Japanese archipelago. This trend has not been witnessed at such a rate since 1990, according to the statistics of the Recof Data consultants company, when they took over 463 firms. In terms of value, these operations in 2011 accounted for 6,300 billion yen or around €63 billion at current exchange rates. This is 67% higher than last year and the third highest ever recorded by Recof Data since it began compiling this data in 1985. Some 43% of the companies were based in Asia, the area for potential business, formerly concentrated in the US and Europe, having now been extended to China, India and other countries in Asia. These trends were confirmed by the Business Development Asia firm, which specialises in mergers and acquisitions. The biggest buy-out in 2011 was made by the Takeda pharmaceutical group, which took over the Swiss laboratory, Nycomed, for almost €10 billion. (IL/transl.fl)