Vector Inc. (TSE:6058) is looking for M&A. Keiji Nishie, Chairman and Representative Director said, "We are now going to do M&A with a fair amount of importance. In addition, most of our clients have been large companies, but as startups are booming in Japan, we are going to get PR businesses for startup clients. It's a VC x PR campaign that involves investment.

We are planning to use the keyword "PR Capital". M&A has been mostly successful in the areas including PR, so we are more interested in taking on digital marketing area. We recently did an M&A of a company called TERMINAL inc. We also consider simple digital advertising companies, but our approach is to pick companies that are good at affiliate, listing, SEM, or display.

I am thinking of doing M&A about five companies in this area, and as long as the market is right, I think it would be totally fine to do about 10 companies. We aim for an EBITDA of about five to seven times through M&As. We are considering cash on hand or bank loans.

As I mentioned earlier, we have clients, so we probably buy with an EBITDA of seven, but it can be around five in the first year; therefore, basically our strategy is to do M&As that do not lose goodwill".