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The COVID-19 pandemic might have posed challenges for the legal industry, but across the Asian region there are firms that have successfully overcome these challenges and continued to grow, either through headcount, or through revenue, or by continuing to add clients. The inaugural ALB Fast 30 list celebrates the tenacity and ambition of these firms. The list is in alphabetical order, and a few firms have been profiled.
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Latham & Watkins is advising Charoen Pokphand Foods (CP Foods) on the proposed privatisation of its Hong Kong-listed arm, CP Pokphand (CPP), with Ashurst advising a shareholder, Japan’s Itochu.
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The use of legal technology has been growing rapidly among both law firms and in-house teams in Japan, and the COVID-19 pandemic appears to have accelerated the process. While lawyers appreciate the efficiencies that legal tech brings, they also acknowledge its limitations.
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Japan’s hostility towards crypto assets is unlikely to change anytime soon, as the new head of the financial industry watchdog recently reiterated the country’s tough regulatory stance.
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While law firms weren’t caught completely off-guard by the COVID-19 pandemic, its extended duration has caused many to rethink how they are delivering services to clients, in addition to making the most of their remote workforce. While the past 18 months have brought both challenges as well as more pleasant discoveries, lawyers can agree that how they work has changed permanently.
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U.S. firm White & Case has hired M&A and private equity expert Naoya Shiota as a partner in Tokyo from Mori Hamada & Matsumoto.
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Sullivan & Cromwell has represented Japan’s Mitsubishi UFJ Financial Group (MUFG) on its $8 billion sale of MUFG Union Bank (MUB) to U.S. Bancorp, which was counselled by Simpson Thacher & Bartlett.
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White & Case has advised U.S. payments giant PayPal Holdings on its $2.7 billion agreement to acquire Japanese buy now, pay later (BNPL) firm Paidy, which was represented by Cooley and Mori Hamada & Matsumoto.
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King & Wood Mallesons (KWM) has advised Australia’s Westpac Banking Corp on the A$900 million ($660 million) sale of its domestic life insurance unit to Japan's Dai-ichi Life Holdings.
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Latham & Watkins has advised U.S. investment bank Houlihan Lokey on its 65-billion-yen ($591 million) offer to buy Tokyo-based M&A advisory firm GCA Corp, which was counselled by Morrison & Foerster.