3 reasons New Japan would benefit from a relationship with Impact and 2 reasons they would not

2. Bad Blood is apparently still high between Impact and New Japan

Kazuchika Okada was reduced to a parody as "Okato" while in TNA.

This would be a difficult hurdle to overcome. With the right people talking for both sides, however, it's possible to mend any fence. It could be a slow process, and to make things more difficult, it appears that Impact has a growing relationship with Pro Wrestling NOAH, another company that New Japan has recently had a falling out with. Both NOAH and Impact have new people running the show, so the bad blood may be able to be brought to a simmer instead of a boil, and an in-road can be made.

With TNA's mishandling of some of New Japan's current hottest stars (Tetsuya Naito, Kazuchika Okada, and to a lesser extent, SANADA), New Japan is holding a grudge that may be impossible to break. There are very few connections to the old TNA to Impact's current regime, with Scott D'Amore being one of the biggest, as he was a fixture in TNA, both on-screen and backstage when some of NJPW's bright future stars were in their care, as it were. That's not going to be easy to move past, even though D'Amore wasn't in nearly as powerful a role then as he is now.