The value of tender offers, i.e. public takeover bids to purchase a major portion or all of a companies outstanding stock, have risen to a record in Japan this year. According to some experts the surge has been caused by the COVID-19 crisis because companies are now rushing to consolidate amid the business slowdown. On NHK World TV, DIJ director Franz Waldenberger explains what the increase in tender offers means for the Japanese economy and how the surge is related to the digital transformation. The interview was broadcast on NHK World’s Newsroom Tokyo programme on July 14, 2020 and can be viewed for one month on NHK World’s website.