The Legal 500

These tables cover a firm’s overarching banking and finance capability. Reference will therefore be made to a practice’s capability in areas covered elsewhere in the chapter, for example, projects, capital markets, real estate and structured finance. As a caveat to that, however, most weight will be given to a firm’s ability to handle big-ticket corporate finance deals.

Nishimura & Asahi has unmatched capabilities and leading specialists in the most active areas of financing, together with relationships with many of the most significant domestic and international lenders. The talents of Toshihiro Maeda on the structured finance side and the ‘extremely sharp’ partner Katsu Sengoku’s expertise in asset finance augment the team’s ‘great credentials’. The practice ‘meets every expectation with efficiency and minimal fuss’ and has retained this approach while adapting to shifts in the market. Led by the ‘outstanding’ and ‘very well-respected’ partner Masahiro Ueno, the team advised Carlyle Group on the ¥138bn loan facility to enable its acquisition of a majority share in NH Techno Glass. The practice has also been well positioned to enjoy a notable share of the refinancing work that has been a prominent feature of the market, recently advising MBK Partners on refinancing Tasaki Shinju’s existing loan obligations. Takashi Ejiri benefits from a vast pool of experience accumulated during his 40 years of experience of the market, while Makoto Igarashi has a leading investment funds practice.

Domestic PFI work and cross-border regulatory issues remain the areas where Anderson Mori & Tomotsune has excelled and gained a reputation as ‘client-oriented, affordable and generally excellent’. The group has strong ties to international lenders, such as Citigroup, and recently acted on several major syndicated loans and mezzanine financings, as well as a flow of roles advising foreign sponsors on entry into the Japanese market. Masaakira Kitazawa is well known for his work in this area, as is Tatsu Katayama, who has ‘a great understanding of the law, as well as the ability to anticipate clients’ needs’. Takahashi Akahane is a leading light in the project finance and PFI field, while Isao Shindo has a strong reputation for his cross-border practice.

Mori Hamada & Matsumoto’s 14-partner team has the ‘depth of expertise’ to handle a broad range of banking and financing needs, and the critical mass to assemble strong cross-practice teams. Akira Marumo and Akiko Sueoka recently led on advice to Bank of Tokyo-Mitsubishi and Mizuho Corporate Bank on their financing of the Carlyle Group’s acquisition of a majority stake in NH Techno Glass, one of the outstanding deals of 2008. Masanori Sato is known as ‘undoubtedly one of the best lawyers available’ and Toru Ishiguro has a strong reputation for his financial regulatory work. Satoko Kuwabara is also recommended.

Excellent relationships with leading lenders in the project finance space has given Nagashima Ohno & Tsunematsu a noticeable edge, although its finance work also encompasses a much broader range of work. Satoshi Inoue’s practice is one of the key strengths of the group, providing ‘market-leading advice’ and ‘precise counsel and exceptional judgement’ on asset and structured finance deals. Shinichi Matsui is also recognised for his international trade finance expertise, while Masayuki Yoshida serves his banking clients with ‘great legal foresight’.

Atsumi & Partners has several of the market’s leading structured finance experts, and in name partner Hiroo Atsumi has ‘one of the pre-eminent names in Japanese finance law’. The group’s capabilities in project finance and acting on syndicated loans are key to its rising profile. Atsumi recently led on a role for a domestic bank in backing a high-value euro notes issue as part of a CLO transaction. Kazuya Yamamoto also had a strong year, acting for major domestic banks as lenders on large asset-backed loans. Ryuichi Nozaki is also recommended.

City-Yuwa Partners’ Eri Furukawa continues to be a prominent figure for an outfit with broad capabilities and a particular emphasis on structured finance and securitisation. ‘Definitely a practice to watch out for’, the team also includes banking specialist Izuru Goto and leading securities lawyer Junko Hirakawa.

TMI Associates takes advantage of ties to prominent lenders to act on a range of cross-border financing and syndicated loan transactions. The group is notably active in structured finance and banking regulatory work, while its joint ventures with foreign law firms have positioned it well to act for international as well as domestic lenders.