diff --git a/aerich/ddl/__init__.py b/aerich/ddl/__init__.py
index 2818955..f4686ec 100644
--- a/aerich/ddl/__init__.py
+++ b/aerich/ddl/__init__.py
@@ -23,7 +23,12 @@ class BaseDDL:
     _DROP_INDEX_TEMPLATE = 'ALTER TABLE "{table_name}" DROP INDEX "{index_name}"'
     _ADD_FK_TEMPLATE = 'ALTER TABLE "{table_name}" ADD CONSTRAINT "{fk_name}" FOREIGN KEY ("{db_column}") REFERENCES "{table}" ("{field}") ON DELETE {on_delete}'
     _DROP_FK_TEMPLATE = 'ALTER TABLE "{table_name}" DROP FOREIGN KEY "{fk_name}"'
-    _M2M_TABLE_TEMPLATE = 'CREATE TABLE "{table_name}" ("{backward_key}" {backward_type} NOT NULL REFERENCES "{backward_table}" ("{backward_field}") ON DELETE CASCADE,"{forward_key}" {forward_type} NOT NULL REFERENCES "{forward_table}" ("{forward_field}") ON DELETE {on_delete}){extra}{comment}'
+    _M2M_TABLE_TEMPLATE = (
+        'CREATE TABLE "{table_name}" ('
+        '   "{backward_key}" {backward_type} NOT NULL REFERENCES "{backward_table}" ("{backward_field}") ON DELETE CASCADE,\n'
+        '   "{forward_key}" {forward_type} NOT NULL REFERENCES "{forward_table}" ("{forward_field}") ON DELETE {on_delete}\n'
+        "){extra}{comment}"
+    )
     _MODIFY_COLUMN_TEMPLATE = 'ALTER TABLE "{table_name}" MODIFY COLUMN {column}'
     _CHANGE_COLUMN_TEMPLATE = (
         'ALTER TABLE "{table_name}" CHANGE {old_column_name} {new_column_name} {new_column_type}'
diff --git a/aerich/ddl/mysql/__init__.py b/aerich/ddl/mysql/__init__.py
index 0cce776..0c603ec 100644
--- a/aerich/ddl/mysql/__init__.py
+++ b/aerich/ddl/mysql/__init__.py
@@ -22,6 +22,11 @@ class MysqlDDL(BaseDDL):
     _DROP_INDEX_TEMPLATE = "ALTER TABLE `{table_name}` DROP INDEX `{index_name}`"
     _ADD_FK_TEMPLATE = "ALTER TABLE `{table_name}` ADD CONSTRAINT `{fk_name}` FOREIGN KEY (`{db_column}`) REFERENCES `{table}` (`{field}`) ON DELETE {on_delete}"
     _DROP_FK_TEMPLATE = "ALTER TABLE `{table_name}` DROP FOREIGN KEY `{fk_name}`"
-    _M2M_TABLE_TEMPLATE = "CREATE TABLE `{table_name}` (`{backward_key}` {backward_type} NOT NULL REFERENCES `{backward_table}` (`{backward_field}`) ON DELETE CASCADE,`{forward_key}` {forward_type} NOT NULL REFERENCES `{forward_table}` (`{forward_field}`) ON DELETE CASCADE){extra}{comment}"
+    _M2M_TABLE_TEMPLATE = (
+        "CREATE TABLE `{table_name}` (\n"
+        "   `{backward_key}` {backward_type} NOT NULL REFERENCES `{backward_table}` (`{backward_field}`) ON DELETE CASCADE,\n"
+        "   `{forward_key}` {forward_type} NOT NULL REFERENCES `{forward_table}` (`{forward_field}`) ON DELETE CASCADE\n"
+        "){extra}{comment}"
+    )
     _MODIFY_COLUMN_TEMPLATE = "ALTER TABLE `{table_name}` MODIFY COLUMN {column}"
     _RENAME_TABLE_TEMPLATE = "ALTER TABLE `{old_table_name}` RENAME TO `{new_table_name}`"
diff --git a/tests/test_migrate.py b/tests/test_migrate.py
index 76b7c3e..c666eae 100644
--- a/tests/test_migrate.py
+++ b/tests/test_migrate.py
@@ -807,7 +807,7 @@ def test_migrate(mocker: MockerFixture):
                 "ALTER TABLE `user` MODIFY COLUMN `password` VARCHAR(100) NOT NULL",
                 "CREATE TABLE IF NOT EXISTS `newmodel` (\n    `id` INT NOT NULL PRIMARY KEY AUTO_INCREMENT,\n    `name` VARCHAR(50) NOT NULL\n) CHARACTER SET utf8mb4;",
                 "ALTER TABLE `user` ADD UNIQUE INDEX `uid_user_usernam_9987ab` (`username`)",
-                "CREATE TABLE `email_user` (`email_id` INT NOT NULL REFERENCES `email` (`email_id`) ON DELETE CASCADE,`user_id` INT NOT NULL REFERENCES `user` (`id`) ON DELETE CASCADE) CHARACTER SET utf8mb4",
+                "CREATE TABLE `email_user` (\n    `email_id` INT NOT NULL REFERENCES `email` (`email_id`) ON DELETE CASCADE,\n    `user_id` INT NOT NULL REFERENCES `user` (`id`) ON DELETE CASCADE\n) CHARACTER SET utf8mb4",
             ]
         )
 
@@ -853,7 +853,7 @@ def test_migrate(mocker: MockerFixture):
                 'ALTER TABLE "user" DROP COLUMN "avatar"',
                 'CREATE INDEX "idx_product_name_869427" ON "product" ("name", "type_db_alias")',
                 'CREATE INDEX "idx_email_email_4a1a33" ON "email" ("email")',
-                'CREATE TABLE "email_user" ("email_id" INT NOT NULL REFERENCES "email" ("email_id") ON DELETE CASCADE,"user_id" INT NOT NULL REFERENCES "user" ("id") ON DELETE CASCADE)',
+                'CREATE TABLE "email_user" (\n    "email_id" INT NOT NULL REFERENCES "email" ("email_id") ON DELETE CASCADE,\n    "user_id" INT NOT NULL REFERENCES "user" ("id") ON DELETE CASCADE\n)',
                 'CREATE TABLE IF NOT EXISTS "newmodel" (\n    "id" SERIAL NOT NULL PRIMARY KEY,\n    "name" VARCHAR(50) NOT NULL\n);\nCOMMENT ON COLUMN "config"."user_id" IS \'User\';',
                 'CREATE UNIQUE INDEX "uid_product_name_869427" ON "product" ("name", "type_db_alias")',
                 'CREATE UNIQUE INDEX "uid_user_usernam_9987ab" ON "user" ("username")',