We advised Nippon Paint on the stock offering

Davis Polk advised Nippon Paint Holdings Co., Ltd. in connection with the offering of 140,133,800 shares of its common stock. The underwriters have an over-allotment option with respect to additional 17,632,500 shares. The shares are listed on the Tokyo Stock Exchange and were offered outside Japan pursuant to Rule 144A and Regulation S. Assuming full exercise of the over-allotment option, the aggregate proceeds of the offering will be approximately ¥145.4 billion (approximately $1.2 billion).

Nippon Paint is global manufacturer and distributor of paints, coatings and paint-related materials. Based in Japan, Nippon Paint conducts business through its global network of operations spanning 28 countries and regions.

The Davis Polk corporate team included partner Jon Gray, counsel Christopher Kodama and associates Chihiro Sasaki and Alexander Coley. Counsel Alon Gurfinkel and associate Omer Harel provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.