Our story
Why SMART was created
In the late 1990s, M&A activity in Japan was largely limited to major corporations and a small circle of specialists. Many owners of small and midsize businesses had no successor—and no clear place to turn.
Strike founder Kunihiko Arai, a certified public accountant with experience in auditing, IPO support, and financial due diligence, was driven by a strong conviction:
It is a profound loss to society when companies with outstanding technology and a strong sense of purpose disappear simply because they have no successor.
1998 — SMART launches
Arai saw the internet as a way to break down barriers to M&A without compromising confidentiality. After studying several pioneering U.S. websites and teaching himself HTML, he built SMART's first website.
SMART launched in October 1998, the year after Strike was founded. It was originally called “M&A Marketplace SMART,” with SMART standing for Strike M&A Rapid Trading System.
English translation of the original 1998 launch message
On Establishing the M&A Information Brokerage Market (SMART)
◆ Introduction ◆
In recent years, the business environment has become extremely challenging, marked by a succession of bankruptcies among listed companies, tighter lending by financial institutions, and workforce reductions carried out in the name of restructuring. In response, a growing number of companies are using M&A as a management strategy to restructure diversified operations, strengthen their financial and business foundations, address succession issues, expand existing businesses, or reduce the risks of entering new lines of business.
In Japan, however, M&A information remains fragmented. As a result, there is currently no system for efficiently matching companies looking to sell with those looking to buy and bringing transactions to completion.
Moreover, because companies must search for prospective counterparties through limited channels, even when a transaction is completed, they cannot be certain that the counterparty was the best possible match.
To address this issue, we established SMART - Japan's first privately operated marketplace for M&A information.
The original SMART website and launch message (1998). Source: Internet Archive Wayback Machine
SMART's first deal
About six months after SMART launched, a business owner who was seriously ill and had no successor contacted Strike through the platform. It took another 18 months to complete the transaction.
For Strike, the owner's relief affirmed SMART's purpose: handing a company over to a new owner is about more than completing a transaction. It also means carrying forward the business its owner built, along with the relationships it sustains among employees, business partners, and the local community.
From a succession solution to a growth strategy
As M&A became more widely accepted in Japan, its role expanded from addressing succession challenges to supporting growth. Strike went public in 2016, and inquiries through SMART became increasingly common.
SMART evolved alongside this shift, continuing to connect owners facing succession challenges with companies seeking opportunities for growth.
SMART today
Today, SMART gives buyers worldwide access to information about businesses for sale across Japan. Visitors can search opportunities, review key details, and contact Strike—a leading M&A intermediary in Japan—about a specific listing.
The technology has changed, but SMART's purpose remains the same: to bring the right businesses and buyers together and help valuable companies continue under new ownership.
