A number of major Japanese firms recently announced overseas expansion plans. While some were bolstering their existing presence in the ASEAN region, others were looking further afield - in Europe and the United States, for example – with the aim of becoming global players. ALB speaks to some of the firms about the strategic considerations underpinning their decisions, and their game plans going forward. 

Davis Polk & Wardwell and TMI Associates are advising a consortium led by private equity firm Japan Industrial Partners on its $15.2 billion buyout of Toshiba, with Nishimura & Asahi and Nagashima Ohno & Tsunematsu are acting for Toshiba.

Japanese Big Five firm Nagashima Ohno & Tsunematsu (NO&T) has entered into an association in Indonesia with newly established local firm IM & Partners.

Withers KhattarWong has set up a Japan desk after hiring corporate expert Yutaka Sakashita as a partner from Japanese Big Five firm Nagashima Ohno & Tsunematsu.

Simpson Thacher & Bartlett and Mori Hamada & Matsumoto have advised Japanese waste management company Daiei Kankyo on its 43.3 billion yen ($325 million) IPO on the Tokyo Stock Exchange with Skadden, Arps, Slate, Meagher & Flom and Nagashima Ohno & Tsunematsu advising the underwriters.

Japanese Big Four Nagashima Ohno & Tsunematsu has hired disputes lawyer Justin Ee as a partner in Singapore from TSMP Law Corporation, where he was a director.

Japanese Big Four law firm Nagashima Ohno & Tsunematsu has advised Hong Kong investment firm PAG on its $720 million purchase of theme park Huis Ten Bosch from Japanese travel booking service provider HIS, which was represented by Midosuji Attorneys.

Mori Hamada & Matsumoto and Davis Polk have advised Japanese beauty company Shiseido on the 160 billion yen ($1.5 billion) sale of its personal care business to private equity firm CVC, which was represented by Nagashima Ohno & Tsunematsu and White & Case.

In April 2022, the Tokyo Stock Exchange (the “TSE”) will change its current existing market segments to “Standard”, “Prime” and “Growth” markets.

SoftBank Corp has announced plans to merge internet subsidiary Yahoo Japan with Korean messaging app operator Line Corp to create a $30 billion tech group, as it strives to compete more effectively with local rival Rakuten and U.S. tech powerhouses.