Looking at sellers by geography, 43% of the target companies were based in Japan, followed by India with 25% and 12% in Singapore. Additionally, China was home to 9% of sellers, followed by South Korea with 7%.

 Pivoting to buyers by geography, 41% of acquirers were from Japan followed by the US with 17% and India with 14%. Singapore was home to 6% of buyers and both China and South Korea at 5%. Dealmaking remained international with 28% of transactions being cross-border.