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:
- Morgan Stanley & Co. International plc on the issue by Asahi Refining USA Inc., a US gold refining company, of zero coupon guaranteed convertible bonds due 2026. This transaction was named "Innovative Equity Deal of the Year" by Refinitiv Japan for its DEALWATCH AWARDS 2020
- Carrier Global Corporation, a world leader in heating, air-conditioning and refrigeration solutions, on the acquisition of Toshiba's 55% stake in their joint venture, Toshiba Carrier Corporation
- the sponsors on the financing of the 1GW+ Hai Long 2 and 3 offshore wind farm projects in Taiwan
- 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.
- Macquarie’s Green Investment Group on the formation of a joint venture with a global energy leader, Iberdrola, on the co-development of a 3.3GW portfolio of six offshore wind projects in Japan
- 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.
- 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:
“The service level is very strong and stable across the firm," remarks a further client, praising the team's expertise regarding "convertible bonds, equity offerings, ISDA and CSA derivative transactions."
Band 1 - Chambers Asia-Pacific 2022, Capital Markets: International: Securitisation & Derivatives
Band 1 - Chambers Asia-Pacific 2022, Capital Markets: International: Asia and Euro Markets
The team's performance is "excellent," adding: "They are the most longstanding foreign firm in the capital markets space, providing excellent service in cross-border trades."
Band 1 - Chambers Asia-Pacific 2022, Capital Markets: Domestic: Securitisation & Derivatives
"They provide a high level of service because they can provide very quick and accurate advice, including on issues involving complicated circumstance."
Band 1 - Chambers Asia-Pacific 2022, Investment Funds
Best Law Firm – FinanceAsia Japan Achievement Awards (received seven of the 10 issued)
Asia Law Firm of the Year – PFI Awards 2019
Linklaters 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.