REPRESENTATIVE MATTERS

We have represented buyers or sellers in over 150 M&A transactions since our founding in 2016. Approximately half of these deals have been cross-border, with the remainder being domestic Japanese transactions. Transaction sizes range from under $5 million to $400 million. Despite our small size, we have been repeatedly ranked in the top 10 M&A law firms in Japan in terms of deal count.

Below is a list of certain representative matters we have handled.

Cross-border M&A deals

• Representation of one of the largest companies in Japan in its acquisition of a European technology company in a deal valued at hundreds of millions of euros.
• Representation of a leading Japanese medical equipment manufacturer in its acquisition of multiple overseas targets, with deal values up to USD 175 million.
• Representation of a Japanese listed company in its acquisition of a South American company in the first ever stock-for-stock deal between a Japanese buyer and an overseas target to use the Japanese Act on Facilitating Industrial Competitiveness.
• Representation of one of the world’s largest VC funds in secondaries involving shares of a Japanese startup sold to a foreign buyer for over JPY 40 billion.
• Representation of a Japanese energy company in its acquisition of a 30% stake in a listed overseas renewable resources company.
• Representation of a Japanese PE fund in its purchase of interests in Space X in the US secondaries market and the subsequent sale of part of its stake to a US-based fund for USD 35 million.
• Representation of a Japanese fashion distributor in its acquisition of a well known European luxury brand from a European PE fund for over EUR 100 million.
• Representation of Japanese holding company in sale of renowned luxury brand to European PE fund.
• Representation of a Japanese technology company in its sale to one of largest technology companies in the world.
• Representation of one of largest companies in Japan in a sale of its subsidiary to one of the largest Indian technology conglomerates.

Domestic M&A deals

• Representation of Japan’s largest listed pharmacy chain operator in its JPY 50 billion acquisition of a Japanese major interior and home accessories chain.
• Representation of a Japanese listed company operating in the jewelry business in a tender offer to acquire a majority stake in the company.
• Representation of founder and major shareholder in an over-JPY 50 billion tender offer buyout to a Japanese PE fund.
• Served as chair of the special committee to a Japanese industrial company in its JPY 15 billion plus sale via tender offer to a Japanese corporate.
• Representation of a Japanese broadcasting company in multiple acquisitions of Japanese animation studios and gaming companies.
• Representation of the CEO of a listed Japanese company in its management buyout valued at JPY 24 billion.
• Representation of the CEO of a listed Japanese company in its privatization through a tender offer by PE fund at JPY 6.7 billion.
• Representation of the founders of a Japanese technology startup in the company’s sale to one of largest companies in Japan for over JPY 10 billion.
• Representation of a family-owned Japanese consulting firm to PE fund for over JPY 30 billion.
• Representation of the founder of a Japanese digital media startup in the company’s sale to one of Japan’s leading company in the online media industry for over JPY 10 billion.
• Representation of foreign founders in their sales of a family-owned construction company to a listed Japanese company for over JPY 10 billion.

We represent entrepreneurs from the earliest stages to some of the most prominent CVC and VC funds in Japan and the world.

• We have handled over 150 financings in Japan, representing both founders and domestic and overseas investors.
• We have represented startups or lead investors in some of the largest financing rounds of Japanese startups, including LegalOn Technologies’ JPY 13.7 billion Series D financing round and Shizen Energy’s JPY 70 billion growth equity financing.
• We regularly represent VC funds that focus on all stages, from pre-seed incubators, such as Techstars, to very large late-stage funds, such as the Softbank Vision Fund.
• We have represented Japanese companies and funds in close to 200 investments in startups outside Japan. About half of these investments have been in the United States and the others have been in countries such as Australia, Belgium, Canada, Cayman Islands, China, Denmark, Finland, France, Germany, Great Britain, Hong Kong, Indonesia, Israel, Korea, Netherlands, New Zealand, Poland, Singapore, Spain, Taiwan, Thailand, and Vietnam.
• We have represented Japanese investors in secondary purchases of over 30 pre-IPO companies (mainly in the US), including 23andMe, Airbnb, Axiom, Bird, Calm, Carbon 3D, Dataminr, Discord, Epic Games, Global Thermostat, Impossible Foods, Just Eats, Neuralink, Niantic, Open AI, Oxford Quantum, Palantir, Redwood Materials, Princeton Review, SoFi, Space X, Standard AI, Triller, and xAI.