What is the content of the guidebook published by Protostar?

The guidebook covers over 70 pages of practical knowledge, including an overview of startup M&A, methods to resolve information asymmetry, practical workflow, and decision-making checklists.

Why is a startup M&A guidebook needed now?

While the Japanese startup M&A market is expanding, the complexity of the process and information asymmetry cause anxiety among business leaders. The guidebook aims to provide accurate knowledge and facilitate smoother M&A transactions.

Who is the target audience for this guidebook?

The guidebook targets a wide range of people, including startup executives, companies considering M&A, and practitioners involved in M&A processes.

[Over 70 Pages] From 'IPO Alternative' to 'Growth Strategy' for Japanese M&A. Protostar Releases Practical Guidebook for Startup M&A Implementation

Published Mar 30, 2026 10:00 PM ・ Updated Jun 28, 2026 5:50 PM ・ 4 min read ・ Source: PR TIMES

Protostar Inc. has released a practical 'Startup M&A Implementation Guidebook (over 70 pages)' that systematizes the knowledge accumulated through its 'STARTUP M&A Circulation' support program. This aims to shift Japanese M&A from being merely an IPO alternative to a strategic growth driver.

Protostar Inc. (Headquarters: Chuo-ku, Tokyo; Representative Director: Hidemaro Maekawa), whose mission is to support challengers, has released a practical 'Startup M&A Implementation Guidebook (over 70 pages)' that systematizes the knowledge accumulated over approximately one and a half years through its startup M&A support program 'STARTUP M&A Circulation'.

■ Background: Current State of Startup M&A The Japanese startup environment is undergoing a major transformation. Since 2021, a series of large-scale M&A cases worth tens to hundreds of billions of yen have occurred domestically, and the government's 'Five-Year Startup Development Plan' also lists M&A activation as a key priority. This accelerates the shift from an 'IPO-only' approach to an 'exit and growth strategy through M&A'.

However, while market expectations are rising, a significant gap still exists in practical implementation. The M&A process is extremely complex, and unique business practices and know-how are 'black-boxed,' causing many executives to feel anxious due to a lack of decision-making information.

Our company has released this guidebook to remove the barrier of 'information asymmetry' and create an environment where challengers can take the next step with correct knowledge.

■ Contents of This Guidebook (Partial Excerpt) This guidebook focuses not just on theory but on the 'first step' based on practical on-site experience. - Overview of startup M&A and latest trends - Solutions for 'information asymmetry' faced by both sellers and buyers - Practical flow visualizing complex processes - Checklist to overcome 'invisibility' that hinders decision-making

【Author's Comment】 ### Rui Ikeda Head of Startup M&A Business Division

Over approximately one and a half years since October 2024, while promoting the M&A support program 'STARTUP M&A Circulation', we have engaged in discussions with many sellers, buyers, and experts.

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Source: PR TIMES
Category: News
Products / services: STARTUP M&A Circulation

[Over 70 Pages] From 'IPO Alternative' to 'Growth Strategy' for Japanese M&A. Protostar Releases Practical Guidebook for Startup M&A Implementation

⚡ Key Points

【Author's Comment】 ### Rui Ikeda Head of Startup M&A Business Division

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