Simpson Thacher & Bartlett and Mori Hamada & Matusmoto has advised Japanese chipmaker Socionext on its $460 million IPO on the Tokyo Stock Exchange’s Prime market, with Skadden, Arps, Slate, Meagher & Flom representing the underwriters. This is the largest IPO in Japan so far this year.

The IPO has raised a more than expected value despite the current weak semiconductor industry in Japan, Reuters reported. Socionext designs, develops and delivers custom System-on-Chip products, with clients in the consumer, automotive and industrial sectors.

The Simpson Thacher team was led by partner Taki Saito, while the Mori Hamada team was led by partner Katsumasa Suzuki and senior associate Takafumi Goto. The Skadden team advising underwriters Nomura International and SMBC Nikko Securities was led by partner Kenji Taneda.