Structured Finance and Derivatives Partner, Tokyo
“I have extensive experience of advising on the most complex structured finance/product transactions and OTC transactions of derivatives, repos and securities lending. I can cover not only contractual aspects of but also regulatory or substantive bankruptcy law aspects of such transactions. I am the Japanese law netting opinion counsel to various industry organizations for derivatives, repos or security lending. I make a point to offer clients solutions to their problems and to deliver practical, responsive, clear advice.”
Education and qualifications
Motoyasu has advised clients on regulations (including the Basel regulations) in connection with derivatives, repos, securities lending, repackagings and other synthetic transactions. Most recently, he has advised on margin regulations in connection with structured covered bonds issued by Japanese banks and transactions tied to the reduction of risk assets, where banks synthetically transfer bonds or loans governed by non-Japanese laws and/or insured or guaranteed by Japanese export credit agencies.
Motoyasu is the Japanese law netting opinion counsel to the International Swaps and Derivatives Associations (ISDA), the International Capital Markets Association (ICMA), the International Securities Lending Association (ISLA) and the Japan Securities Clearing Corporation (JSCC) and has expertise in regulations on derivatives and other market transactions, netting law and bankruptcy law.
Motoyasu's recent notable experience includes advising:
- Netting opinion counsel to ISDA, ICMA, ISLA and JSCC.
- The arranger group on the establishment of the €20bn Sumitomo Mitsui Banking Corporation covered bond programme and issuance of the first series of €1bn covered bonds off the programme in November 2018.
- 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.
- ISDA on the implementation of the ISDA IBOR Fallbacks Protocol and Supplement (supplement no. 70) and Japanese translations thereof.
- 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.
- ISDA on supporting the Japanese FSA to draft the bill for the 2020 amendment of the Netting Act, which is core legislation in the derivatives, repos and securities lending netting field, as well as related subordinate legislation.
Motoyasu was based in the firm’s New York office between 2007 and 2008.
His other deals include advising:
- ISDA on preparing template credit support documents for collateral exchanges required under the margin regulations globally introduced in 2016.
- Sumitomo Mitsui Banking Corporation as its trustee capacity on its repackaging transaction where investors extend loans to SMBC as trustee and SMBC as trustee enters into a guaranty agreement with JBIC as originator.
- the leading arrangers on a number of repackaging transactions for leading arrangers, including Aozora, Bank of New York Mellon, Barclays, BNP Paribas, BofA Securities, Citibank, Credit Agricole, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Mizuho Bank, Mizuho Securities, Morgan Stanley, MUFG Bank, Mitsubishi UFJ Morgan Stanley Securities, Nomura, SMBC Nikko, Societe Generale, Sumitomo Mitsui Banking Corporation, Shinsei, Sumitomo Mitsui Trust Bank, and UBS.
Education and qualifications
He speaks English and Japanese.