Pointed out that a rare Japanese companies which realized the growth in the M & A, Horiba is strong in the high evaluation

Horiba is strong.”Buy”, Merrill Lynch (ML) the target strain evaluation of the company’s investment
And that you are starting a new coverage as the 3100 yen value is in the support material

In ML, sales of major companies to evaluate the deployment force of M & A, it has acquired in the past doubled in a little over 10 years,
And growth, a rare and Japanese companies that achieve growth through M & A in up to 30 percent of company sales
I have pointed out.Pattern that expect further growth by M & A in the future.