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Chambers Asia-Pacific

Experience

We represented SoftBank in its £24.3 billion ($31.4 billion) acquisition of UK-based semiconductor and software design company ARM Holdings. The transaction was the largest ever cross-border acquisition by a Japanese company (and the largest ever cash acquisition of a UK company). Named M&A Deal of the Year 2017 by The Asian Lawyer’s Asia Legal Awards and by Asian Legal Business’ (ALB) Japan Law Awards.

We represented SoftBank in its $21.6 billion acquisition of a 78% interest in U.S. wireless operator Sprint. The transaction was the largest U.S. M&A transaction of 2013 and, when announced, the largest cross-border acquisition by a Japanese company (now second to SoftBank’s acquisition of ARM Holdings, a transaction that we handled for SoftBank in 2016).

We represented Toshiba Corporation on the $18 billion sale of its wholly owned subsidiary Toshiba Memory Corporation to a consortium led by Bain Capital. The transaction is the largest Japanese inbound M&A deal since 2011, as well as both the largest private equity and leveraged finance deal ever in Asia. Named M&A Deal of the Year, TMT Deal of the Year, and Japan Deal of the Year by Asian Legal Business (ALB) Japan Law Awards 2018.

Following our 2017 representation of SoftBank in its $5 billion investment in Xiaoju Kuaizhi Inc. (Didi), China’s leading ride-hailing and mobile transportation platform – reported as the largest ever venture financing and largest ever foreign technology investment in the PRC – in 2018 we represented SoftBank in connection with further $3.6 billion primary and $1 billion secondary purchases of Didi shares.

We represented SoftBank in its $7.7 billion primary and secondary investment as part of a $9.3 billion sale of stock by Uber. This is the largest ever private secondary transaction in the technology space.

We represented Renesas Electronics Corporation in its $6.7 billion acquisition of NASDAQ-listed Integrated Device Technology (IDT), a market-leading analog mixed-signal company, to create market-leading embedded solution capabilities.

We represented Renesas Electronics Corporation in its $3.2 billion acquisition of 100% of U.S. semiconductor developer Intersil Corporation, a leading supplier of semiconductors to the automotive industry.

We Represented FUJIFILM Holdings and Fuji Xerox, a 75%-25% joint venture between Fujifilm and Xerox, in connection with the acquisition by Fujifilm of Xerox’s 25% stake in Fuji Xerox for an aggregate purchase price of $2.3 billion.

We represented Taisho Pharmaceutical in its agreement to purchase French-based pharmaceutical products manufacturer UPSA from Bristol-Myers Squibb for $1.6 billion. The transaction consisted of a share purchase of the UPSA entity and separate asset purchases related to the UPSA business in 10 other jurisdictions, including trademarks, marketing authorizations, other intellectual property, and inventory.

We are representing Yahoo Japan Corporation in its $3.7 billion tender offer for a majority interest in ZOZO, Inc., a Japanese E-commerce company that operates Internet shopping websites including ZOZOTOWN, a leading online fashion retailer in Japan.

We represented TDK in the formation of its $3 billion joint venture with Qualcomm to provide industry leading radio frequency front-end (RFFE) modules and RF filters for mobile devices, drones, robotics, and automotive applications.

We represented Nissan Motor in the sale of its electric battery operations and production facilities to Envision Group, a Chinese renewable energy firm. The transaction included the sale of Nissan’s lithium-ion battery joint venture with NEC Corporation, Automotive Energy Supply Corporation, along with Nissan’s battery manufacturing operations in Japan, the U.S. and the UK.

We advised Toshiba and Innovation Network Corporation of Japan (INCJ) on their $2.4 billion, dual-track divestiture of energy management solutions provider Landis+Gyr Group AG. The deal was completed through an IPO of Landis+Gyr’s shares in Switzerland and concurrent unregistered offerings to institutional investors in the U.S. and other jurisdictions.

We represented Hitachi, Ltd., in its $1.245 billion acquisition of the Sullair brand air compressor manufacture and sale business from Accudyne Industries.

We represented Hitachi in its formation of a global air conditioning joint venture with Johnson Controls, integrating the companies’ market leading HVAC businesses. Johnson Controls obtained a 60 percent ownership stake in Hitachi’s $2.6 billion air conditioning business. The deal was named one of Asian-MENA Counsel’s Deals of the Year.
We represented Hitachi in the sale of its hard disk drive subsidiary, Hitachi Global Storage Technologies to Western Digital for $4.8 billion. At the time of sale, HGST had over 40,000 employees worldwide and was one of the world’s leading HDD manufacturers. We also represented Hitachi in acquiring IBM’s HDD business in 2005, and in combining that business with Hitachi’s existing operations to form HGST. The deal was named one of Asian-MENA Counsel’s Deals of the Year.