Japanese companies made fewer acquisitions during the calendar first half than they have in a decade as buying interest was cooled by the yen's volatility.
The number of deals announced in the first six months of 2013 was 997, with a total value of $45.7 billion, according to data compiled by Bloomberg. That's the lowest number of deals and value since the first six months of 2004. The value was 47 percent lower from the first half of 2012.
Since Prime Minister Shinzo Abe swept into power in December on promises to resurrect the economy by expanding stimulus measures and weakening the yen, the currency has whipsawed between ¥82.36 and ¥103.21 to the dollar. The yen's 100-day volatility rose to 14.81 points in July, the highest since August 2009, and more than double the 6.97 figure at the start of the year.