It will not be too long before the term "Abenomics" will join "Cool Britannia", "the end of history" and "Brics" in the cupboard of cast-offs: ideas that once had thrilling, zeitgeisty chic, but are now too threadbare to be worn in public. Abenomics — encapsulating the now-sputtering economic revival programme of Japanese Prime Minister Shinzo Abe — may well deserve that fate. But it will at least depart having catalysed a defining shift in the country’s corporate thinking and the creation of a new generation of outward-looking deal makers. Abenomics is nearly five years old. So, too, is the country’s record run of more than $350bn in overseas acquisitions — the first time, say JPMorgan bankers, that the outbound grab has been "meaningful". According to Mergermarket, Japan’s outbound deal count of 145 in the first half of 2017 was only a handful short of the record set in 2015, and mergers and acquisitions (M&A) bankers are already hinting at big deals in the insurance, pharmaceutic...

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