Corporate acquisition can be an effective strategic activity for companies to accomplish growth. Given the economic conditions of the past few years, it is not uncommon for the acquiring firm to implement a turnaround strategy of the target company post acquisition. Therefore, uncovering the factors which lead to a successful corporate turnaround is significant both for practical and research domains. However, despite over three decades of effort in turnaround strategy research, our

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... g of the phenomenon is incomplete. This paper investigates four cases in which NIDEC corporation executed turnarounds after acquiring distressed firms. The analysis will introduce a capability perspective in light of prior corporate turnaround research. The purpose of the paper is to deepen understanding of corporate turnaround success factors post acquisition and establish an analytic view as basis for further corporate turnaround strategic research.