The volume is a collection of papers on "M&A in Japan - a new instrument for corporate policy", with a special emphasis on small and medium firms, presented at a workshop in December 1999. The first contribution gives an overview of international M&A in recent years. Next, preliminery results of a survey among German enterprises with business interests in Japan are discussed. The third paper concentrates on the current M&A boom on the Japanese enterprise system and on corporate governance. Finally, legal options and other implementation issues faced by foreign investors undertaking M&A in Japan are discussed.