Survey on Business Succession: 'Assuming There is Still Time' Cited as Top Reason for Delay; Security Concerns Create Psychological Barriers

M&A Royal Advisory Co., Ltd. (Headquarters: Chiyoda-ku, Tokyo; CEO: Ryo Hashiba) conducted a survey on the current state and postponement factors of business succession among 1,200 business owners aged 50 to 75.

### Key Highlights * **60% Inactive:** About 60% of respondents reported doing 'nothing specifically' regarding succession. * **Delay Factor:** The most common reason for postponing consultation is the belief that 'there is still plenty of time.' * **Primary Motivation:** The leading reason for considering succession or M&A is the 'lack of a successor' (35.7%). * **Security Concerns:** Nearly 70% of owners who view succession as an issue are anxious about information leakage during consultation.

### Detailed Analysis When asked about priority, 'important but not urgent' was the most common response (23.8%), followed by 'never thought about it' (18.6%). This highlights a gap between recognizing the issue and taking action.

Regarding the timing to start planning, 26.9% believe they should start in their 60s, while 21.8% cite 'feeling uneasy about health or stamina' as a trigger. However, as succession involves complex processes like successor training or M&A negotiations, waiting for health issues to manifest can severely limit an owner's options.

In terms of actual steps taken, 59.6% have done nothing. Those who have acted mostly consulted tax accountants (16.3%) or family members (16.3%). Consultations with specialized agencies like M&A firms remain very low at 3.9%.

Succession is not just about personal retirement; it is a critical issue for job security and regional economic stability. Early planning, including exploring M&A options, is essential for owners facing successor shortages or future business uncertainty.