In Aichi Prefecture, where our office is located, there are a large number of small and medium sized enterprises ("SMEs") with advanced technological capabilities particularly relating to the automotive industry. In Mie and Gifu prefectures, which are neighboring prefectures to Aichi Prefecture, there are many SMEs with a long history of manufacturing. On the other hand, many business owners of SMEs are concerned about business continuity and future prospects, such as the aging of management and the deterioration of facilities.
Business succession is often directly linked to inheritance, so while recognizing its importance, business owners tend to delay starting business succession. Also, it is difficult for people around business owners to advise that specific consideration should be given to business succession. However, avoiding considering and taking measures for business succession may have a material adverse impact not only on disputes between interested parties but also on the continuation and performance of the business itself.
Business succession is one aspect of management strategy. How will businesses that have been developed over many years be succeeded to and developed, and will they be consolidated? The management team needs to identify the future direction of the business and the right people in the right positions, and appoint lawyers, tax accountants, and financial accountants to use their respective expertise to consider measures to prevent disputes.
We can support the planning and implementation of business succession based on our experience in dealing with many business successions.
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