We are acclaimed in the Japanese market for our ability to create the innovative, cutting-edge structures required for today’s rapidly evolving domestic and multi-jurisdictional transactions – a key competitive advantage for our clients in the current climate.
Over the last 30 years, Linklaters has advised on many of Japan’s most significant transactions in the areas of mergers & acquisitions (including acquisition finance and general corporate advice); private equity, banking, projects/energy & infrastructure, restructuring & insolvency, financial markets regulation, investment funds, capital markets (including derivatives & structured products, equity & debt capital markets and structured finance); and real estate (including real estate finance and securitisation of assets).
Recent significant transactions include advising:
- Korea Trade Insurance Corporation and Nippon Export and Investment Insurance on the approx. US$3bn (NT$90bn) project financing of the 589MW Changfang and Xidao offshore wind project in Taiwan. This project was awarded amongst many others for the following: “Asia-Pacific Renewables Deal of the Year” by PFI Awards 2020, “Asia Pacific Export Finance & Project Finance deal of the year” by Infrastructure Journal Global 2020 and “Asia Export Credit Agency Deal of the Year” by TXF Deals of the Year Awards in 2020.
- The arranger group on the establishment of the €5bn Sumitomo Mitsui Trust Bank covered bond programme and the issuance of the first series of €850mn covered bonds off the programme in October 2020.
- ORIX Corporation on its US$963m investment into the Greenko Group, one of India's leading renewable energy companies, and on the sale of its Indian wind assets to the Greenko Group for US$342m.
- Macquarie Infrastructure Debt Investment Solutions in completing fundraising of US$645m for its Global Infrastructure Debt Fund.
- ISDA on the implementation of the ISDA IBOR Fallbacks Protocol and Supplement (supplement no. 70) and Japanese translations thereof. We have continued to work for ISDA to lead the LIBOR reform project in Japan which is one of the most pressing matters affecting not only the derivatives market, but all LIBOR-referencing financial instruments.
- Marubeni Corporation on their ¥100bn (approx. US$920m) plan to build approximately 140MW capacity offshore wind farms at Akita Port and Noshiro Port in northern Japan. This is the first commercial scale offshore wind project in Japan and was awarded the following: “Asia-Pacific Renewables Deal of the Year” by PFI Awards 2020, “Asia Pacific Export Finance & Project Finance deal of the year” by Infrastructure Journal Global 2020 and “Asia Export Credit Agency Deal of the Year” by TXF Deals of the Year Awards in 2020.
- A consortium of 16 financial institutions, as original lenders on a ¥500bn margin loan to Hinode 1 GK (a wholly owned subsidiary of SoftBank Group). This is the largest margin loan ever to be secured over Japanese listed shares and is one of the largest ever in Asia.
- Takeda Pharmaceutical Company on its £46bn recommended offer for Shire – the largest ever outbound M&A deal by a Japanese company.
- SoftBank Group on the US$93bn launch of the SoftBank Vision Fund – the world's largest ever private equity fund.
Our renowned experience is recognised by the market:
“As a magic circle firm, it has easy access to the highest level of knowledge on various type of international legal matters.”
Band 1 - Chambers Asia-Pacific 2021, Capital Markets: International: Securitisation & Derivatives
The team's cutting-edge market knowledge is highlighted by clients, who state that it "always provides valuable advice in relation to developing new structures and fostering product innovation."
Band 1 - Chambers Asia-Pacific 2021, Capital Markets: Domestic: Securitisation & Derivatives
“They’re highly experienced and well-known bench entrusted by clients with bond offerings and MTN drawdowns. Their advice is well explained, practical and they give responses in a timely manner.”
Band 1 - Chambers Asia-Pacific 2021, Capital Markets: International: Asia and Euro Markets
"The team has in-depth knowledge of fund establishment and strong communication skills, in both Japanese and English. With its global network, they tackle a range of cross-border matters.”
Band 1 - Chambers Asia-Pacific 2021, Investment Funds
Best Law Firm – FinanceAsia Japan Achievement Awards (received seven of the 10 issued)
Asia Law Firm of the Year – PFI Awards 2019Linklaters Tokyo is the business name of Gaikokuho Kyodo-Jigyo Horitsu Jimusho Linklaters, a firm organised under the Japanese Civil Code, which is affiliated to Linklaters LLP.