Roland Corporation Initial Public Offering

Davis Polk advised the international joint lead managers in connection with the initial public offering of 11,710,000 shares of common stock of Roland Corporation. The shares were sold by the private equity sponsor, Taiyo Jupiter Holdings, L.P., Cayman Islands limited partnership. The underwriters have an over-allotment option with respect to 585,500 shares. The global offering consisted of an offering in Japan and an international offering outside Japan pursuant to Rule 144A and Regulation S. The shares were listed on the Tokyo Stock Exchange. Assuming full exercise of the over-allotment option, the aggregate proceeds of the global offering will be approximately ¥36.3 billion (approximately $349.1 million).

Roland is a leading global manufacturer and distributor of electronic musical instruments and other audio and video-related equipment and devices. Headquartered in Hamamatsu, Shizuoka, Japan, Roland has been making trendsetting gear for hobbyists and professionals alike spanning multiple categories, from pianos, electronic keyboards, synthesizers, guitar products and electronic percussion to DJ controllers, audio/video solutions, livestreaming products and more, for nearly 50 years.

The Davis Polk corporate team included partner Jon Gray, counsel Christopher Kodama and associates Chihiro Sasaki and Mari Foster. Counsel Alon Gurfinkel and associate Veronica Davis provided tax advice. Members of the Davis Polk team are based in the Tokyo, New York and London offices.