Small M&A in Japan: individual buyers and succession
Kojin M&A (individual M&A) refers to individuals and small buyers acquiring businesses in Japan, typically for hundreds of thousands to tens of millions of yen. Small Start records domestic deals closed on marketplaces such as Batonz, TRANBI and Rakko M&A: the price, the multiple on monthly profit, and how the handover went.
The price alone tells you little. The same ¥2M buys a nail salon with 1,500 clients in one deal and a YouTube channel in another. Each case breaks down what was handed over, for how much, and how.
- Case studies
- 45
- Sale price
- 10億円
Small M&A and succession cases in Japan
1–24 of 45
Tenshoku Antenna: A One-Person Media Site, ¥700M Plus a ¥300M Earnout from Listed Company Logly
Tenshoku Antenna, a Japanese job-change media site run by moto (Shunsuke Totsuka) as a one-person company, became a 100% subsidiary of listed adtech firm Logly in April 2021. The founder disclosed the price himself: ¥700M plus an earnout of up to ¥300M. Negotiations took about six months, and his director compensation exceeded ¥100M a year — one of the largest disclosed exits for an individual-run media site in Japan.
Skeb: The "Personal Hobby Service" That Sold All Its Shares for ¥1 Billion — Settling the Risk of One Person Holding ¥200 Million a Month in Transactions
Skeb, which its founder called a "personal hobby service," reached 1 million registered users and roughly ¥200 million in monthly transaction volume in just over two years, then became a subsidiary of Jitsugyo no Nihon Sha in February 2021 for ¥1 billion. The top reason for selling was not stalled growth but payment-settlement risk.
Abbey Road: He Sold His Own Assets to Take Over a 20-Year Rakuten Watchband Store
Katsuhito Saiki, who worked at a seafood trading company, took over "Abbey Road," a watchband shop that had run for 20+ years on Rakuten Market. He'd once passed on the listing because it exceeded his budget, but returned to it; when a loan from the Japan Finance Corporation was rejected, he sold off his own assets to raise funds. Negotiations spanned about 1 year and 8 months.
A 30-year-old tutoring school in Fukuoka was handed over in about 7 months — every online marketing push after COVID missed
A tutoring school founded in Fukuoka in 1995 as a home-tutor agency, once employing about 100 instructors at its peak, was handed to a company employee in his 40s over about 7 months. Instagram, LINE, landing pages, and video campaigns run after COVID reportedly showed no felt effect.
Ten-plus firms raised their hands, seven made it to top-level talks — the pharmacist who won a Sendai dispensing pharmacy, on his second M&A
The transfer of Sendai-based dispensing pharmacy KSI Ltd., founded about 30 years ago, drew inquiries from over ten companies, and seven advanced to top-level meetings. The winner was Kentaro Ishii, a pharmacist who had taken over his first store two years earlier. Exclusive negotiations began within a month of the first meeting, and closing came in about 3 months. The deciding factor wasn't price, but his attitude toward employees.
A 48-year-old took over a hypochlorous-water dealership from an 84-year-old founder. Under a year into the job, sales were up ~150% year over year
Kenji Matsuki (48), who spent over 20 years at a major private railway company, took over "Oak Sales Ltd.," a hypochlorous acid water dealer in Nagano Prefecture, in April 2024. The previous owner was 84 and had spent 4 years searching for a successor. Under a year into the role, sales were up roughly 150% year over year.
About 4 Months From Decision to Taking Over a Fukuoka Tutoring School — a Corporate Manager Who Brought a Proposal to the First Meeting
Mr. Suzuki (a pseudonym), who worked as a manager in a major manufacturer's overseas business division, decided in January 2024 to go independent through M&A. About four months after starting his search on Batonz, he had resigned, signed the M&A contract, and become president, taking over a Fukuoka-based individualized tutoring school in August of the same year. The decisive factor was bringing a proposal to the first meeting and pitching improvement ideas.
A senior-care info site earning ¥17,200/month in profit sold for ¥1.4 million — inside a valuation of 81 months of profit
From Rakko M&A's analysis of 1,050 completed site sales, one deal stands out: a nursing-home info site earning ¥17,200/month in profit and roughly 30,000 PV sold for ¥1.4M — a multiple of ~81 months, 4.6x the survey average of 17.8 months.
Cooking YouTube Channel (1.1M Listed / 110K Subscribers) Sells for ¥3,500,000 (About 30.3 Months of Monthly Revenue)
From Rakko M&A's public closed deals (batch 2). A cooking YouTube channel (110K subscribers) sold for ¥3,500,000, 61 days after listing. We record the going rates of Japan's individual-scale M&A market from the listed data.
Apparel EC Business (Fully Outsourced) Sells for ¥2,160,000 (About 6.3 Months of Monthly Revenue)
From Rakko M&A's public closed deals (batch 2). An apparel EC business with outsourced operations sold for ¥2,160,000, 4 days after listing. We record the going rates of Japan's individual-scale M&A market from the listed data.
A nail salon with 1,500 customers and 10 staff was taken over for 2 million yen. What an administrative scrivener prioritized above all
An administrative scrivener (gyoseishoshi) who went independent handling subsidy application proxy work acquired a nail salon in Mie Prefecture for 2 million yen. With over 1,500 customers and 10 staff, the top priority for the takeover was "retaining the employees." After visiting the site 3 times to interview every staff member individually, the business turned profitable by the third month.
Amazon Seller Account (10 Years of Operation) Sells for ¥1,380,000
From Rakko M&A's public closed deals (batch 2). An Amazon seller account with 10 years of operation sold for ¥1,380,000, 13 days after listing. We record the going rates of Japan's individual-scale M&A market from the listed data.
Warary!: A Comedy Live Show Search Service Built Solo for 2.5 Years, Then Sold to a Company
A case where the comedy live show search service "Warary!" was run solo for two and a half years and sold to a company in 2020. The sale price is undisclosed, but the developer has published his rule of thumb — "monthly profit x 24 months + goodwill" — along with his criteria for deciding whether to sell or keep going.
Spiritual YouTube Channel Sells for ¥1,200,000 (About 6.9 Months of Monthly Revenue)
From Rakko M&A's public list of closed deals. A spiritual YouTube channel sold for ¥1,200,000, about 6.9 months of monthly revenue. We record the going rates in Japan's individual-scale M&A market based on the listed data.
A dance school with ~1,500 members was handed off after screening dozens of candidates. The turning point was "the results of a cancer screening"
Ayaka Saito founded the adult-beginner dance school "Carnelian" at 25 with 500,000 yen in capital. A 2020 cancer screening that found high-grade dysplasia pushed her to decide on succession, and after negotiating with dozens of candidates she handed the business to an inexperienced individual.
Psychology & Trivia YouTube Channel Sells for ¥4,800,000 (About 8.6 Months of Monthly Revenue)
From Rakko M&A's public list of closed deals. A psychology & trivia YouTube channel sold for ¥4,800,000, about 8.6 months of monthly revenue. We record the going rates in Japan's individual-scale M&A market based on the listed data.
RPG Game App Sells for ¥1,750,000 (About 7 Months of Monthly Revenue)
From Rakko M&A's public list of closed deals. An RPG game app sold for ¥1,750,000, about 7 months of monthly revenue. We record the going rates in Japan's individual-scale M&A market based on the listed data.
In a city with a 29.9% child poverty rate — an individual takes over a night nursery in Naha, 2024
Milky Nursery, a night-shift nursery in a Naha entertainment district, was transferred in April 2024 to a newly established individual-owned company. The price was undisclosed, but the process from near-collapse to signing is on record.
Compilation-Style YouTube Channel Sells for ¥3,000,000 (About 10.8 Months of Monthly Revenue)
From Rakko M&A's public list of closed deals. A compilation-style YouTube channel sold for ¥3,000,000, about 10.8 months of monthly revenue. We record the going rates in Japan's individual-scale M&A market based on the listed data.
A sole-proprietor apparel wholesaler turned away by a brokerage got 30+ inquiries right after listing. Succession completed in under 2 months
A sole proprietor dealing in design-registered women's apparel goods was turned down by a major M&A brokerage over scale and fees, then registered on TRANBI on the recommendation of a business handover support center. Inquiries came in immediately, eventually reaching 30+, and a multi-million-yen transfer closed in under 2 months with 3 meetings.
A 51-year-old company employee took over a Saitama salon for 2 million yen. The conditions that made remote management from Nagoya work
A 51-year-old company employee living in Nagoya acquired a women-only salon in Urawa, Saitama for 2 million yen. Monthly rent was about 120,000 yen with 2 female staff. For six months he did nothing but browse listings, but a shift came after his first offer, on a cram school, fell through — the second deal closed in about two months.
A 64-year-old mirror factory with 7 employees found a third-party successor: local outreach fell flat, a nationwide listing matched instantly
Ozaki Mirror Industries, a 7-employee aluminum mirror processor in Osaka founded in 1960, was sold to MARUJOU Co. in Aichi in September 2024. Local referrals drew little response, but an inquiry came in right after listing on Batonz nationwide. The transfer price wasn't disclosed.
In a market where 32 dealers shrank to 12, a 35-year-old took over a wholesale business after six months of unpaid on-site training
A 35-year-old former employee of a major-affiliated company took over "Ogura Shoten," a fish wholesaler at Okayama Central Wholesale Market. Wholesale dealers had fallen from 32 companies to 12, with revenue down to a quarter or a third of peak. The buyer spent about half a year in unpaid on-site training after leaving his job.
A 30-year appointment-only eyewear shop changes hands: across the sudden death of the intermediary, 3 years and 8 months from first inquiry to closing
An appointment-only eyewear shop in Tajimi City, Gifu Prefecture, that had run for 30 years, was transferred to Mimoto Co., Ltd., which operates three stores in Ueda City, Nagano Prefecture. After the initial inquiry in November 2020, three candidates found through a no-name database fell through, and in 2022 the intermediary staffer suddenly passed away. After switching to Batonz, the deal closed in July 2024. The transfer price is undisclosed.
FAQ
- Can an individual buy a business in Japan?
- Documented cases include a 51-year-old employee who acquired a Saitama salon for ¥2M via TRANBI and runs it remotely from Nagoya, and a licensed administrative scrivener who took over a nail salon with 1,500 clients and 10 staff for ¥2M.
- What do these deals cost?
- Disclosed marketplace deals here cluster between ¥1.2M and ¥4.8M, roughly 6 to 30 months of monthly earnings. One content site with ¥17K monthly profit sold at 81 months of profit; each article records what justified the multiple.