The Legal 500

Anderson Mori & Tomotsune has a leading reputation for PFI projects beginning with its involvement in the very first PFI in Japan. The firm specialises in advising on the public sector side of PFI deals, but it also has experience acting for lenders and contractors. Lawyers demonstrate a ‘market-leading breadth of knowledge’ and regularly handle projects in the telecoms, health, prisons and energy sectors. Takashi Akahane and Reiji Takahashi are the main contacts and are well-known in the market.

At Nagashima Ohno & Tsunematsu, team head and corporate finance partner Minoru Ota is recommended for his ‘ability to keep ahead of market trends’ and for his ‘prompt and efficient service’. The firm’s practice spans both project finance and transactional energy work and clients include both sponsors and lenders. Among the firm’s recent highlights, it advised General Electric on the establishment of a smart-meter joint venture company with Fuji Electric Holdings. The firm also advised Nippon Export and Investment Insurance on the project financing of LNG project in Indonesia.

Nishimura & Asahi fields a ‘leading PFI and infrastructure lawyer’ in Hiroshi Maeda, but clients also single out Nagahide Sato for her ‘specialist knowledge’ in this area. The firm has experience in acting for both lenders and borrowers on project financings and PFI deals and scores points for its ability to ‘always see the transaction from the client’s point of view’. Energy, transport and infrastructure are all areas of expertise, and the firm recently advised JBIC on the financing of various infrastructure projects.

Atsumi & Sakai is particularly strong on the infrastructure side, leveraging off its strong finance practice to advise both banks and sponsors on the funding of major projects. Finance head Hiroo Atsumi is the main contact and projects specialist Miho Niunoya is also recommended. Highlight transactions in 2010 included advising on a ¥20bn hospital financing.

Mori Hamada & Matsumoto’s projects capability sits within its finance practice and specialises in advising on the lender side of project finance mandates. The firm receives a steady flow of both infrastructure and power project instructions, with a notable strength on the PFI side. Takeshi Mukawa is recommended.

PFI is the mainstay of TMI Associates’ projects practice and the firm retains a focus on infrastructure deals. Hideyuki Okada is highly-regarded and specialises in advising on the lender side of project finance transactions.

Allen & Overy Gaikokuho Kyodo Jigyo Horitsu Jimusho’s ‘overall performance is brilliant’. The firm has a breathtakingly impressive project finance practice. It recently advised Bank of Tokyo-Mitsubishi UFJ on its acquisition of a portfolio of project finance assets, comprising loans and related assets of approximately £3.3bn from the Royal Bank of Scotland Group; acted on a $1.2bn acquisition of power assets in Mexico; advised on the financing of a $3.7bn second-stage oil refinery complex in Egypt; and assisted on the financing of the Donggi Senoko Lang liquefaction project. Clients include JBIC, The Export-Import Bank of Korea and NEXI. Office managing partner Aled Davies has ‘extensive knowledge and experience’, as too does his highly regarded finance partner Adam Moncrieff. Ashley Young has relocated to Hong Kong.

Ashurst is a is a one-stop-shop for legal advice on projects, acting for both sponsors and lenders and covering all aspects of the project finance and project development spectrum. Highlights included advising KOGAS on the Gladstone LNG project - the largest investment in Australia by a Korean company; advising JBIC, KEXIM and other commercial lenders on the Donggi Senoro LNG Project in Indonesia; acting for KOGAS, GAIL, OVL and Daewoo International Corporation on the Shwe Field Pipeline Project; advising JBIC on the Vung Ang 2 2x600MW supercritical thermal power plant; and acting for Mitsui & Co on the Nghi Son 2x600MW supercritical thermal power plant. The team is large and includes projects partners John McClenahan, Rupert Burrows and Harvey Weaver, and counsels Dan LeFort, Shri Maski and Matthew O’Connor.

Herbert Smith has an impressive depth of experience within the energy, infrastructure and mining sectors and the capability to advise clients, on the ground in Tokyo, through the lifecycle of major transactions and projects. It recently advised Mitsubishi Corporation on the $240m acquisition of a 20% stake in the Senoro Toili oil and gas field, Indonesia, from Medco; advised on upstream oil and gas acquisitions in the Middle East; and assisted two separate LNG projects in Australia and a shale gas investment in Europe. James Watson specialises in infrastructure projects, and Rebecca Major focuses on mining projects, particularly in emerging markets. Both also have extensive experience in advising on upstream and downstream oil and gas and LNG projects, as well as power and renewables projects. In 2011, David Clinch relocated to London.

Milbank, Tweed, Hadley & McCloy ‘provides a high level of service’. Mark Plenderleith focuses on project development, acquisitions and financings in the energy, mining and infrastructure sectors. He has particular experience representing financial institutions, energy companies, developers, private equity funds and agencies on multi-source cash-flow based financings. Gary Wigmore focuses mainly on project mergers and acquisitions, project development and project finance. He works in many industry sectors, including power, oil & gas, mining, telecoms and infrastructure. The firm has recently advised clients on power projects in Southeast Asia, on petrochemical projects in the Middle East region, a light rail project in Southeast Asia, and an aluminium smelter financing in Africa. Further highlights included acting on nuclear power projects in the US and Jordan for a Japanese technology provider, and acting on the Cirebon power project in Indonesia for the lenders.

White & Case LLP- White & Case Law Offices (Registered Association)’s ‘overall level of service is extremely high - response times are quick and precise and the firm has great knowledge’. The group acts for sponsors, lenders, developers and contractors on large energy project developments, acquisitions and financings across a broad geographical spread and is highly regarded for its LNG expertise. Key highlights included acting for JBIC in its equity investment in one of the world’s largest solar projects in California; advising the acquirers on a proposed gas project in Canada making it the first time Japanese utilities are investing in North American gas resources; and representing the lenders in the financing of a chemical alumina plant in Indonesia. ‘The team is well-supervised by Hendrik Gordenker ’. Toshio Dokei is recommended. In 2011, Mark Goodrich relocated to London.

Baker & McKenzie GJBJ Tokyo Aoyama Aoki Koma Law Office has one of the largest mining and resources teams in Tokyo, and has particular strength in oil and gas projects. The firm recently advised Sumitomo Metal Mining Co on a project to produce nickel/cobalt mixed sulphide in Mindanao Island in the Philippines. Paul Davis co-chairs the energy mining and infrastructure group and ‘provides practical solutions’. Fellow co-chair of the group Anne Hung, who has specialist knowledge of Kyoto Protocol-based projects, ‘quickly understands and precisely analyses the issues with deep insight’. Ian Gordon was promoted to partner in 2010.

Hogan Lovells Horitsu Jimusho Gaikokuho Kyodo Jigyo’s ‘lawyers are smart, knowledgeable and responsive’. Projects and energy group head Anthony Raven is ‘first rate. He has an excellent grasp of the law and industry practice and his advice is always pitched at just the right level’. The firm assists Japanese banks, contractors and sponsors on oil & gas, LNG, power, renewables, petrochemicals and other infrastructure projects around the world, and has advised on transactions in the past year with a deal value in the region of $50bn. The group represented JBIC on the project financing of the Van Phong I BOT power project in Vietnam; acted for Sojitz Corporation on its investment in, and the project financing of, a marine chemicals project in India; and advised Metal One Corporation in respect of a project for the supply of metal pipes to customers in South America. Tony Marshall, who splits his time between London and Tokyo, is also recommended.

Latham & Watkins Gaikokuho Joint Enterprise’s new office managing partner Joseph Bevash relocated to Tokyo from Hong Kong bolstering the projects and energy team, which already included the mining and power-related project expertise of Michael Yoshii and Hiroki Kobayashi, who adds his experience in cross-border transactions to the group. Highlight work included advising Denham Capital Management in the project financing for GNPower’s 600-MW Mariveles coal-fired power facility, including a private port facility and associated facilities in the Philippines; and advising Jurong Aromatics Corporation Pte in connection with the development and financing of the Jurong Aromatics petrochemicals project.

Linklaters’ Christopher Bradley heads up the projects team which includes partners Hiroya Yamazaki and Hideo Norikoshi. The group recently advised on the $14bn Jubail refinery project in Saudi Arabia; acted for Sharp Corporation’s establishment of two joint ventures in the solar sector with Enel Green Power and STMicroelectronics; and advised on Royal Bank of Scotland’s £3.9n sale of project finance assets to BTMU.

Morrison & Foerster Ito & Mitomi assists clients in all aspects of the development, construction, financing, restructuring, and purchase and sale of infrastructure projects around the world. The firm acted for Mitsui & Co and Tokyo Gas Co in their $1.2bn acquisition from Gas Natural SDG of five gas-fired combined cycle power stations in Mexico and a related gas pipeline company; and advised Sumitomo Corporation in its $1.9bn acquisition of a 30% stake in a recently created iron ore unit of Brazilian steelmaker Usiminas Siderurgicas de Minas Gerais. Head of the firm’s project finance and development group Michael Graffagna, Dale Caldwell and of counsel Christian Petersen are all highly praised by clients.

DLA Piper Tokyo Partnership recently represented JBIC, NEXI and commercial bank lenders on a $1.5bn advance pay structured financing facility to Venezuela’s national oil company, Petroleos de Venezuela; and advised the Government of Vietnam in respect of the concession to a private sponsor for the construction and financing of the 1200 MW Mong Duong II Power Project. Other clients include ITOCHU Corporation and Mizuho Corporate Bank. David Robbins is head of the firm’s Asia energy sector group. Also recommended are office managing partner Lance Miller and newly promoted partner and head of the Korea practice Daniel Lee.

Norton Rose Gaikokuho Jimu Bengoshi Jimusho is recommended for its ‘wide range of knowledge’, and it recently bolstered its Tokyo practice with the arrival of Michael Joyce, whose ‘strength is in energy projects in Australia’, from Brisbane. The firm recently advised JBIC and the commercial lenders in the bid by a Japanese consortium in respect of the $2.5bn Shuweihat S3 independent power project in Abu Dhabi; and acted for ITOCHU in its sale to Nippon Steel Corporation of the whole of ITOCHU’s 10% interests in the Foxleigh Coal Mine joint venture. Chris Viner, George Gibson and Jeremy Gibb are also recommended.

Orrick, Herrington & Sutcliffe LLP continues to strengthen its reputation in renewable energy projects and cleantech financing. The firm represented Eurus Energy Japan Corporation and Korea East-West Power Co in an initiative with a Philippine partner to create Asia’s first large scale renewable energy investment joint venture. It also acted for Eurus Energy America Corporation on the development and $240m project financing of the 45MW Avenal solar power project in California. Practice head Yoichi Katayama and of counsel Minako Wakabayashi are highly regarded. Sergey Milanov has left the firm to join K&L Gates.

Joseph Kim is an impressive projects and finance force at Paul Hastings LLP. The firm advised Korea East-West Power on its acquisition of Jamaica Public Service Company from Marubeni Corporation; and acted for the Export-Import Bank of Korea, Asian Development Bank, Sumitomo Mitsui Banking Corporation, Crédit Agricole Corporate and Investment Bank and ING Bank in relation to thefinancing of a 200MW coal-fired power project in Cebu.

Blake Dawson’s Japanese team specialises in high-value outbound project and energy work, particularly in Australia, Indonesia and Papua New Guinea, and recently advised Marubeni in relation to its bid for major gas infrastructure assets owned by Alinta. Natsuko Ogawa is the key contact in Tokyo. Japanese practice co-chair Rupert Lewi, who splits his time between Tokyo and Perth, is praised by clients.

Clients are ‘very satisfied’ with the level of service received from Shearman & Sterling LLP. Etienne Gelencsér is the key contact for projects and energy at the firm. His experience includes advising Qalhat LNG in its investment in Senboku Natural Power Company, a wholly owned subsidiary of Osaka Gas.

Vinson & Elkins L.L.P. is ‘simply one of the best in the industry’, with team head James Atkin recommended for providing ‘out of the box practical solutions to complex legal and commercial issues’. Of particular note, it represented GLNG Operations Pty, the marketing representative for the Gladstone LNG Project; and acted for Apache Corporation and its subsidiaries as the operator and lead sponsor in connection with developing a Canada’s first LNG liquefaction facility and export terminal.