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Sullivan & Cromwell LLP

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Beijing, Brussels, Frankfurt, Hong Kong, London, Los Angeles and 7 more

Japan: Capital markets

Capital markets – International firms and joint ventures
Capital markets – International firms and joint ventures - ranked: tier 1

Sullivan & Cromwell LLP

Described as 'the number one US law firm in Tokyo' due to its 'deep understanding of US securities laws, the local capital markets space and the businesses of issuers and investment banks', Sullivan & Cromwell LLP's capital markets team is jointly led by Izumi Akai and Keiji Hatano; Akai 'is a legend in Japanese capital markets' and Hatano 'has a brilliant sense of finance and business'. In recent highlights, the pair were instructed by SG Holdings to oversee its IPO and listing on the Tokyo Stock Exchange, and Japan Post Holdings (issuer) and the Ministry of Finance (selling shareholder) appointed the team to handle the JPY1.3bn offering of common stock. SoftBank is also a key client and engaged the practice to assist with a $4.5bn multi-tranche US dollar-denominated perpetual subordinated hybrid note offering, as well as a $6bn offering of high-yield notes.

Leading individuals

Izumi Akai (Gaiben) - Sullivan & Cromwell LLP

Keiji Hatano (Gaiben) - Sullivan & Cromwell LLP

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Japan: Corporate and M&A

Corporate and M&A – International firms and joint ventures
Corporate and M&A – International firms and joint ventures - ranked: tier 3

Sullivan & Cromwell LLP

In two recent cross-border transactions, Sullivan & Cromwell LLP 's team acted in Terumo's acquisition of assets and liabilities from Abbott and St Jude Medical, as well as Panasonic's cash tender offer for shares of PanaHome. The two senior names to note are practice co-heads Izumi Akai and Keiji Hatano who represented Obayashi in its proposed acquisition of Obayashi Road. Other key clients include Centerview and Lazard, both of which acted as financial advisors to parties involved in M&A transactions.

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Further information on Sullivan & Cromwell LLP

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Legal Developments in Japan

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to
  • Taking control of a Japanese publicly listed company:

    Introductory notes for successfully completing an M&A
  • Yuasa and Hara Business Law News

    Contents of the Issue Law on liability for breach of contract Review on the amendment to the cabinet office order on Corporate Disclosure

    The Minister for Justice, Alan Shatter (“the Minister”), has published the Criminal Justice Bill 2011 (“the Bill”). The main purpose of the Bill is stated to be “…to amend the criminal law to improve certain procedural matters and strengthen Garda investigative powers. The intention is that such improvements will assist in reducing the delays associated with the investigation and prosecution of complex crime, in particular white collar crime.”
  • Japan: New legislative framework for Sukuk

    The new framework passed in May 2011 will provide a solid legal platform for issuing Sukuk Ijarah under Japanese law. NAOKI ISHIKAWA highlights key legal structures and tax treatment in respect of the anticipated Sukuk issuances in Japan.
  • Yakult Bottle Acquired Distinctiveness

    Do you know about Yakult's delicious lactic acid drink which is contained in a small bottle? Yakult's lactic acid drink (hereafter referred to as "Yakult drink") is the most famous lactic acid drink in Japan and today is also being sold in many countries around the world. When you are enjoying Yakult drink, please keep in mind the case mentioned below.
  • Tax: Japan: International Joint Ventures

    Tax on international joint ventures. Country Q&A (Japan).
  • Japan: Recent Developments in Practice and Law

    The successful closing of two Islamic fi nance transactions which was announced in July 2010 by Nomura Holdings have paved a concrete path for Japanese corporations to consider overseas Islamic fi nance markets for their fund raising activities. The fi rst transaction was in Asia for the issuance of Sukuk Ijarah and the second was in the Middle East for the establishment of a Commodity Murabahah facility (Nomura Deals).
  • Renewable energy takes off in Japan

    Like many other countries, Japan has decided to reform its renewable energy (RE) policy, to dramatically increase the use of renewable energy. The core policy mechanism is a feed-in tariff (FIT). This chapter summarises the contemplated Japanese FIT and its practical impact on existing and future investment in this sector, providing an overview of:
  • Licensing - 2010

    Q & A on Licensing in Japan 
  • Law on the Civil Jurisdiction of Japanese Courts over Foreign Countries, etc.

    The Law has been enacted to clarify the scope of application of the civil jurisdiction of Japanese courts over foreign countries, etc., and set exceptions to civil preocedings involving foreign countries, etc., based on the United Nations Convention on the Jurisdictional Immunities of States and their property (UN Convention on Immunities) (see Article 1).