Strategy& Foresight vol.2 2015 Winter M&A M&A M&A 10

vol.2 2015 WINTER Strategy& Foresight Contents 特集 M&A 巻頭言 M&A 3 4 M&A 11 10 18 23 Strategy& Foresight Vol.2 2015 Winter 1

2 Strategy& Foresight Vol.2 2015 Winter

M&A yosihyuki.kishimoto@ strategyand.pwc.com Strategy& 20 M&A M&A M&A M&A M&A M&A M&A M&A M&A M&A 5 5 4 M&A M&A M&A Strategy& Foresight Vol.2 2015 Winter 3

M&A M&A 1990 Strategy& IT 4 Strategy& Foresight Vol.2 2015 Winter

t-hubbard@ kellogg.northwestern.edu paul.leinwand@ strategyand.pwc.com cesare.mainardi@ strategyand.pwc.com Strategy& Strategy& CEO The Essential Advantage: How to Win with a Capabilities- Driven Strategy Harvard Business Review Press, 2011 1 PC M&A B2B IKEA IKEA strategyand.pwc.com/cds Strategy& Capable Company Research Project Strategy& Foresight Vol.2 2015 Winter 5

ken.aoi@ strategyand.pwc.com Strategy& 2013 750 4 1 IKEA 1 2 3 6 IKEA 1 M&A M&A 6 Strategy& Foresight Vol.2 2015 Winter

12 M&A Vol.20 (2012 Summer) M&A M&A 1990 P&G M&A P&G 2000 IT The Big Bite of Small Brands strategy+business 2013 Autumn Strategy& Foresight Vol.2 2015 Winter 7

2005 19972013 15 4.3 3.1 P&G 89 112 25 1 2 1 IT Sunk Costs and Market Structure: Price Competition, Advertising, and the Evolution of Concentration MIT Press 1991 2 8 Strategy& Foresight Vol.2 2015 Winter

1. 10 2. Strategy& Foresight Vol.2 2015 Winter 9

strategyand. pwc.com/cds-way-to-play 35 3. 4. The New Super Competitors by Thomas N. Hubbard, Paul Leinwand, Cesare Mainardi, strategy+business, Issue 76 Autumn 2014 10 Strategy& Foresight Vol.2 2015 Winter

M&A M&A 4 4 1 M&A 1 M&A Strategy& Foresight Vol.2 2015 Winter 11

12 Strategy& Foresight Vol.2 2015 Winter 2 2 2 1 2 2 1 2 2 1 2 Strategy& M&A strategy+business 15 gerald.adolph@ strategyand.pwc.com Strategy& 20 yosihyuki.kishimoto@ strategyand.pwc.com

1 M&A 1 1 10 10 24% 76% 63% 37% 49% 51% =213 =128 =87 Strategy& 2 3 Strategy& Foresight Vol.2 2015 Winter 13

2 M&A 69 65 62 50 46 0 10 20 30 40 50 60 70 80 % Strategy& 2 3 1 10 M&A 2 M&A 32 14 Strategy& Foresight Vol.2 2015 Winter

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16 Strategy& Foresight Vol.2 2015 Winter M&A M&A 4 4 3 IT

IT M&A M&A Gerald Adolph and Justin Pettit, with Michael Sisk, Merge Ahead, Chapter 8, McGrow-Hill, 2009 Strategy& Foresight Vol.2 2015 Winter 17

M&A 10 M&A M&A M&A M&A M&A 2 M&A 5 M&A 1. M&A M&A M&A CEO M&A M&A 3 1 2 CFO 18 Strategy& Foresight Vol.2 2015 Winter

19 Strategy& Foresight Vol.2 2015 Winter 3 CEO 6 20022008 50 M&A 90 M&A 2. M&A M&A M&A 3. M&A 2 2 2 B2B Strategy& Strategy& M&A barry.jaruzelski@ strategyand.pwc.com marian.mueller@ strategyand.pwc.com Strategy& M&A peter.conway@ strategyand.pwc.com

takayuki.inoue@ strategyand.pwc.com Strategy& IT PMI ryota.baba@ strategyand.pwc.com Strategy& 4. M&A M&A NDA M&A NDA M&A 5. M&A 6. M&A M&A CEO 20 Strategy& Foresight Vol.2 2015 Winter

21 Strategy& Foresight Vol.2 2015 Winter M&A M&A M&A 7. M&A 8. M&A Strategy& M&A M&A M&A

9. M&A M&A 10. M&A M&A M&A Top M&A Fallacies and Self Deceptions, by Barry Jaruzelski, Marian Mueller, and Peter Conway, strategy + business, online November 23, 2011 22 Strategy& Foresight Vol.2 2015 Winter

M&A PMI 1 Strategy& PMI PMI 1 1. 2. 3. 4. 5. 6. 7. 8. 9. Strategy& Strategy& Foresight Vol.2 2015 Winter 23

takayuki.inoue@ strategyand.pwc.com Strategy& IT PMI 1. Dos Don ts 2. 24 Strategy& Foresight Vol.2 2015 Winter

2 2 Strategy& Strategy& Foresight Vol.2 2015 Winter 25

3. 2 1 1 3 Strategy& 26 Strategy& Foresight Vol.2 2015 Winter

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Media highlights 10 Strategy& 2014 11 1,000 10 R&D 7171,000 190R&D 2014R&D 5 R&D 10 1 13.5 2 13.4 3 10.6 4 10.4 5 10.0 7 9.1 17 6.3 12 2 E Strategy& について Strategy& 100PwC 157195,000 PwC 経営課題に関するご相談はこちらまで info.japan@strategyand.pwc.com 106-6127 6-10-1 27 03-6757-8600 Fax 03-6757-8667 http://www.strategyand.pwc.com/jp 32 Strategy& Foresight Vol.2 2015 Winter

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