Two major insights were drawn from these case studies.
First, the HQ cannot achieve synergy by focusing solely on financial aspects and ignoring other potential sources of
synergy (such as customer and operations- driven synergies) as illustrated by Ricoh’s case.
Second, Sharp and Mitsubishi Tokyo UFJ cases demonstrate that synergy creation, and anergy
inhibition cannot be successful unless the HQ and its business units are deeply involved in the
process of devising various business strategies.