Next Generation Partners: Bengoshi

Capital markets: Independent local firms in Japan

Anderson Mori & Tomotsune

The team at Anderson Mori & Tomotsune is highly regarded for its expertise advising on IPOs, global share offerings by listed companies, Samurai bonds, Uridashi offerings, J-REITs and convertible bonds. The group frequently handles complex cross-border capital markets transactions across key jurisdictions, offering specialised support in derivatives, securitisation and real estate finance. Hironori Shibata concentrates primarily on cross-border capital markets deals involving both Japanese and international issuers, with an emphasis on IPOs. Kagayaki Funakoshi brings extensive experience in equity and debt offerings, including convertible bonds and unit offerings by major J-REITs. Clients go to Satomi Umezu when seeking guidance on public real estate security token offerings, as well as regulatory compliance and legal developments in this space.

Autres avocats clés:

Hironori Shibata; Kagayaki Funakoshi; Satomi Umezu; Hiroto Ando; Koichi Saito; Takahiro Hayase; Takehisa Sato; Daisuke Tanimoto; Etsuko Yamazaki


Les références

‘The team has a deep and experienced capital markets team with strong bench strength across all seniority levels. Their documentation is consistently reliable and of high quality, which brings a strong sense of stability to transactions.’

‘Particularly in the convertible bond space, they handle a large volume of deals and have established significant expertise. While historically more active on the underwriter side for global IPOs and follow-ons, they have increasingly been representing issuers in recent years as well.’

‘Hiroto Ando is incredibly diligent. He is highly receptive to feedback and always demonstrates a proactive attitude toward improvement and growth. ’

Mori Hamada

Mori Hamada's team advises both domestic and international issuers and underwriters on significant and complex securities offerings, including IPOs, global equity offerings, and mutual fund issuances. The team is highly experienced across a broad spectrum of capital markets matters, including debt offerings, J-REIT formations and offerings, as well as compliance and regulatory issues. Taro Omoto brings deep expertise handling sophisticated financial instruments such as equity-linked debt and listed infrastructure funds, while Katsumasa Suzuki focuses on M&A and capital markets dispute resolution. The pair co-head the practice alongside Masanori Sato who is well-versed in structured finance, banking, and capital markets, and Akira Ehira who has specialist knowledge in financial regulatory cases. Other notable practitioners include Toshimitsu Nemoto and Katsuyuki Tainaka.

Responsables de la pratique:

Katsumasa Suzuki; Taro Omoto; Masanori Sato; Akira Ehira


Autres avocats clés:

Toshimitsu Nemoto; Katsuyuki Tainaka; Masayuki Ishibashi


Les références

‘The team are highly skilled in not only sorting out the issues related to the issuance of CBs and stock acquisition rights, but also in providing practical support for issuance. They also provide high-quality advice on risk management, not only at the time of issuance, but also after issuance, such as dealing with litigation and managing insider information.’

‘In particular, the quality of the professional legal advice provided by partners Katsumasa Suzuki and Masayuki Ishibashi is exceptional, and the practical support provided by the team of associates is also superior to other firms.’

‘The team has significant strength in depth and is ably led by Masayuki Ishibashi, who is well-respected and an industry leader. They boast premium clients that engage them for the most innovative and cutting-edge projects.’

Principaux clients

Asahi Group Holdings, Ltd.


JFE Holdings, Inc.


TRYT Inc.


Astroscale Holdings Inc.


Yokohama Capital Co. Ltd.


SRE Holdings Corporation


Kubota Corporation and


Kubota Credit Corporation, U.S.A.


Hitachi, Ltd.


TOEI ANIMATION CO., LTD.


SBI Shinsei Bank, Limited


Goldman Sachs International


Goldman Sachs Japan Co., Ltd.


J.P. Morgan Securities Plc


Merrill Lynch International


Merrill Lynch & Co., Inc.


Morgan Stanley & Co. International Plc.


Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.


Morgan Stanley MUFG Securities Co., Ltd.


UBS AG, London Branch


Daiwa Securities Co. Ltd.


Mizuho Securities Co., Ltd.,


Nomura Securities Co., Ltd.


SMBC Nikko Capital Markets Limited


SMBC Nikko Securities Inc.


Japan Bankers Association


MUFG Bank, Ltd.


Mizuho Bank, Ltd.


Sumitomo Mitsui Banking Corporation


Sumitomo Mitsui Trust Bank, Limited


Mitsubishi UFJ Trust and Banking Corporation


Japan Bank for International Cooperation


Canadian Solar Infrastructure Fund, Inc.


Enex Infrastructure Investment Corporation


Takara Leben Infrastructure Fund


JAPAN POST HOLDINGS Co., Ltd.


SoftBank Group Corp.


Marubeni Corporation


Nippon Life Insurance Company


Recruit Holdings Co., Ltd.


Toyota Industries Corporation


Daiwa House REIT Investment Corporation


Mori Hills REIT Investment Corporation


PGIM Real Estate Finance, LLC


Tosei Asset Advisors, Inc.


SUMCO Corporation


Nippon Paint Holdings Co., Ltd.


SKYLARK HOLDINGS CO., LTD.


VisasQ Inc.


SBI SECURITIES Co., Ltd.


Japan Post Bank Co., Ltd.


SBI Sumishin Net Bank, Ltd.


Socionext Inc.


NTT Finance Corporation


Nippon Prologis REIT, Inc.


Daiwa House Logistics Trust


Enex Infrastructure Investment Corporation


Principaux dossiers


  • Advising the client on its global IPO in the manner of S-1 method, comprising the first case of its type in Japan.
  • Advising JAPAN POST BANK Co., Ltd. and JAPAN POST HOLDINGS Co., Ltd. on the secondary offering of shares of those companies.
  • Advising Astroscale Holdings Inc. on its global IPO. The client is a deep tech company and thus numerous discussions were needed to conduct appropriate disclosure and marketing.

Nagashima Ohno & Tsunematsu

Nagashima Ohno & Tsunematsu's team advises clients across a broad range of industries on global equity and debt offerings by Japanese issuers, both domestic and international IPOs, J-REIT transactions, security token offerings, and Japanese offerings by foreign issuers. The team is led by Fumihide Sugimoto who brings significant experience in asset finance, securities law, and banking regulation, including advising financial institutions on capital adequacy requirements. Miyuki Ishiguro is a standout practitioner known for her work on both domestic and international debt and equity offerings, IPOs and share-based compensation structures. Shinichi Araki is frequently sought after for his in-depth knowledge of Samurai bonds and financial regulatory matters. Motohiro Yanagawa has developed a strong niche in securitisation, while Yuichi Miyashita handles a diverse mix of capital markets transactions, including block trades, convertible bonds, and class share issuances.

Responsables de la pratique:

Fumihide Sugimoto


Autres avocats clés:

Miyuki Ishiguro; Shinichi Araki; Motohiro Yanagawa; Yuichi Miyashita; Sosuke Kimura


Les références

‘They are a variety of professionals from diverse backgrounds.’

‘They are ready to support clients and keen to understand clients’ businesses.’

‘The team have the creativity to solve complicated situations and the structures to tackle a new issue coming out from a new product in the market.’

Principaux clients

Mitsubishi UFJ Financial Group, Inc.


Mizuho Financial Group, Inc.


Sumitomo Mitsui Financial Group


Sumitomo Mitsui Trust Group, Inc.


Morgan Stanley


Bank of America


Nomura Securities Co., Ltd.


JP Morgan


Daiwa Securities Co. Ltd.


Development Bank of Japan


East Japan Railway Company


Norinchukin Bank


Japan Finance Organization for Municipalities


Japan Bank for International Cooperation


BNP Paribas


Resona Bank Limited


Principaux dossiers


  • Advised the shareholders on a global IPO of Tokyo Metro.
  • Advised the client and the shareholder on a global IPO of Rigaku Holdings Corporation.
  • Advised the client on its $500m Senior Notes 144A/Reg S offering.

Nishimura & Asahi

Nishimura & Asahi's team advises clients across the full spectrum of capital markets matters, with particular strengths in Samurai bonds, J-REITs, and both equity and debt offerings. The team is known for its ability to handle complex transactions involving Japanese and international issuers. Kohei Koikawa leads the team and is widely recognised for his experience in IPOs, follow-on offerings, hybrid securities, Euro bonds, and global bonds. Kentaro Sugimoto brings substantial expertise advising issuers and underwriters on cross-border offerings, including Euro and global bonds, convertible bonds and equity deals. Naoya Ariyoshi has experience advising on securitisation transactions backed by the Japanese government, especially those involving the Japan Finance Corporation.

Responsables de la pratique:

Kohei Koikawa


Autres avocats clés:

Kentaro Sugimoto; Naoya Ariyoshi


Principaux clients

Timee, Inc.


JX Advanced Metals Corporation


KOKUSAI ELECTRIC CORPORATION


GA technologies Co. Ltd.


The Dai-ichi Life Insurance Company, Limited


Rakuten Group Inc.


Orient Corporation


Crédit Agricole Securities Asia B.V.


Daiwa Securities Co. Ltd.


Mizuho Securities Co., Ltd.


SMBC Nikko Securities Inc.


ROHM Co., Ltd.


Comforia Residential REIT, Inc


Honda Motor Co., Ltd.


Nomura Securities Co., Ltd.


Nomura International plc


Aisin Corporation


SMBC Nikko Securities Inc.


Japan Finance Corporation


Orient Corporation


Principaux dossiers


  • Advised on Timee’s IPO on the Tokyo Stock Exchange.
  • Advised on JX Advanced Metals’ IPO on the Tokyo Stock Exchange.
  • Advised Kokusai Electric’s public follow-on offering, and on the successful resolution of KKR’s buyout of a semiconductor equipment company.

TMI Associates

TMI Associates‘ group advises clients across various financial matters, including corporate and structured finance, REITs, derivatives, securities regulation, project finance, liquidation and trust-related cases. The team is led by Yoshiyasu Yamaguchi who brings deep expertise in IPO support, real estate investment and M&A cases. Hiroyoshi Kuromaru advises a broad client base, ranging from government-linked to private corporations, both domestic and international, on public offerings such as Samurai bonds and secondary distributions of bonds and notes. Tomoya Kainuma is well-regarded for his work on complex, cross-border capital markets transactions.

Responsables de la pratique:

Yoshiyasu Yamaguchi


Autres avocats clés:

Hiroyoshi Kuromaru; Tomoya Kainuma


Principaux clients

Nomura Securities Co., Ltd.


Daiwa Securities Co. Ltd.


Crédit Agricole Securities Asia B.V.


SMBC Nikko Securities Inc.


Monex Corporation


Hash DasH Co., Ltd.


FRUTAFRUTA, Inc.


BNP Paribas Securities (Japan) Limited


HSBC Securities (Japan) Limited


Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.


Principaux dossiers


  • Advised the client on the issue and public offering of Samurai bonds.
  • Advised the issuer for the sale of its shares held by certain financial institutions and sold to Japanese and foreign (other than the US) investors.

Atsumi & Sakai

Atsumi & Sakai‘s Tokyo practice is experienced assisting its clientele with contentious and non-contentious banking matters, in both domestic and cross-jurisdictional contexts. Fumiko Oikawa, Toyoki Emoto and Kazuya Sato are structured finance, securitisation and trust specialists, while Madoka Hashimoto, Shintaro Hamasu, Eiichiro Hata and Takasuke Mizukami harness expertise in private equity, capital markets and M&A finance matters, in particular; the seven oversee the group.

Responsables de la pratique:

Fumiko Oikawa; Toyoki Emoto; Kazuya Sato; Madoka Hashimoto; Shintaro Hamasu; Eiichiro Hata; Takasuke Mizukami


Principaux dossiers