Davis Polk’s Tokyo office, which opened in 1987, was among the first Asian offices established by the top Wall Street firms. The Tokyo office is staffed by two partners qualified in Japan as Foreign Special Members (Gaikuho-Jimu-Bengoshi) of the Daiichi Tokyo Bar Association and seven other professionals under their direct supervision.
The principal focus in our Tokyo office is on capital markets transactions and mergers and acquisitions/joint ventures involving Japanese and foreign enterprises. We also work on high-yield debt and acquisition finance, structured and project finance and credit and leveraged finance transactions as well as compliance and internal investigations, and a broad range of other corporate and advisory projects. We play a central role in the flow of major cross-border transactions involving many sectors of the Japanese economy with a particular concentration in technology and financial institutions.
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Davis Polk has been active in Japan for over 90 years. Today, we are among the leading U.S. legal advisers on complex transactions involving Japanese companies and the Japanese marketplace. Our Tokyo office is staffed by two partners, a counsel and six associates. We also draw support from our colleagues in our Hong Kong, Beijing, New York, London and Menlo Park offices as needed to ensure successful execution of transactions.
Together with our Hong Kong and Beijing office lawyers, we are also actively engaged in advising on private equity transactions and international securities offerings involving companies in China, Korea, India, Taiwan and Southeast Asia.
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- Chuo Mitsui Trust/Sumitomo Trust and Banking. We advised Chuo Mitsui Trust Holdings on its management integration with Sumitomo Trust and Banking. The transaction created Japan’s fifth-largest banking group by assets and an entity with an initial market capitalization of $14.7 billion.
- Sumitomo Mitsui Financial Group. We advised Sumitomo Mitsui Financial Group on its registration with the Securities and Exchange Commission and listing on the New York Stock Exchange. With a market capitalization of approximately $41 billion, this was the largest NYSE listing since 2002 and the largest ever NYSE listing by a Japanese company.
- Emerson/Nidec. We advised Emerson, a global technology company, in connection with the sale of its Motors and Appliance Controls businesses to Nidec, a Kyoto, Japan-based manufacturer of small precision motors.
- Japan Single-Residence REIT/Crescendo Investment. We advised Japan Single-Residence REIT in connection with its $389 million merger with Crescendo Investment. The newly formed entity has approximately $1.5 billion in assets under management.
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- Toyo Seikan/Stolle Machinery. We advised Toyo Seikan, one of the largest beverage and food can manufacturers in Japan, in connection with its acquisition of Stolle Machinery. Based in Colorado, Stolle Machinery is one of the major canning and end-making machinery manufacturers.
- Sumitomo Mitsui Financial Group/Promise. We advised Sumitomo Mitsui Financial Group in connection with its tender offer to purchase outstanding shares of Promise, a Japanese consumer finance company.
- Sumitomo Mitsui Banking Corporation. We regularly advise Sumitomo Mitsui Banking Corporation, one of the largest banks in the world by assets, in connection with its Rule 144A/Regulation S debt offerings.
- ORIX Corporation. We regularly advise ORIX Corporation, a Japanese provider of a broad range of commercial and consumer finance products and services, on SEC-registered debt shelf takedowns.
- Morgan Stanley/MUFG. We advised Morgan Stanley in connection with a $7.8 billion investment by Mitsubishi UFJ Financial Group, a Tokyo-based international financial services provider, in Morgan Stanley.
- Morgan Stanley/MUFG. We are advising Morgan Stanley on the conversion by Mitsubishi UFJ Financial Group of convertible preferred stock into common stock of Morgan Stanley.
- Nippon Mining/Nippon Oil. We advised Nippon Mining Holdings, a Japanese oil and gas refiner and marketer, in connection with its merger of equals with Nippon Oil, a Japanese oil and gas refiner and marketer. The transaction created JX Holdings, one of the world’s largest private sector oil companies and Japan’s third-largest company based on revenues. On its first day of trading, JX Holdings had a market capitalization of $12.4 billion.
- Sumitomo Mitsui Financial Group. We advised Sumitomo Mitsui Financial Group on its $3.8 billion cash tender offers for two series of perpetual subordinated bonds and two series of perpetual preferred securities issued by its finance subsidiaries.
- Sumitomo Mitsui Financial Group. We advised Sumitomo Mitsui Financial Group on its ¥1 trillion ($11.1 billion) Rule 144A/Regulation S global offering of common stock.
- Hitachi. We advised Hitachi, a leading global technological and industrial company based in Japan, on a ¥265 billion ($3 billion) Regulation S offering of common stock and a concurrent ¥100 billion ($1.1 billion) Regulation S offering of convertible bonds.
- NEC. We advised the joint lead managers on a $1.3 billion Regulation S offering of common stock of NEC, one of the world’s leading providers of Internet, broadband network and enterprise business solutions.
- Nikko Asset Management/Sumitomo Trust & Banking. We advised Nikko Asset Management, a Japanese investment management company, on its ¥112.4 billion acquisition by Sumitomo Trust and Banking, a Japanese trust bank.
- Sumitomo Mitsui Financial Group. We advised Sumitomo Mitsui Financial Group on its ¥885 billion ($9.2 billion) Rule 144A/Regulation S global offering of common stock.
- Shionogi/Sciele Pharma. We advised Shionogi, a pharmaceutical firm headquartered in Osaka, Japan, on its $1.1 billion acquisition of Sciele Pharma, an Atlanta, Georgia-based midsize pharmaceutical company.
- Bertelsmann/Sony. We advised Bertelsmann, a German international media conglomerate, on the sale of its 50% interest in Sony BMG, a global recorded music joint venture created by Sony Corporation and Bertelsmann in 2004, to Sony Corporation, a consumer electronics manufacturer.
Read the
Tokyo Office Brochure for additional transactions.
Tokyo office lawyers not identified as Gaikokuho Jimu Bengoshi are qualified under the laws of New York or other jurisdictions outside Japan and working in Japan under the supervision and direction of Gaikokuho Jimu Bengoshi resident in the firm's Tokyo office.
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