Nishimura & Asahi has advised Mitsubishi UFJ Financial Group, Japan's largest banking group, on its $393 million investment in Philippine fintech Mynt for an 8 percent stake.

Mynt, also known as Globe Fintech Innovations, operates the Philippine e-wallet brand and IPO-hopeful GCash.

According to Reuters, the Philippines is among the fastest-growing fintech markets in Southeast Asia, with a surge in adoption of digital services during the pandemic.

It added that Mynt is a joint venture between Alibaba's Ant Group, Philippine conglomerate Ayala, and communications firm Globe Telecom.

The Nishimura team was led by partners Yuji Shiga, Masataka Sato and Susumu Tanizawa.