Department profile
Nishimura & Asahi

Capital Markets: Domestic

Global Guide 2026 : Japan

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Nishimura & Asahi

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About

Provided by Nishimura & Asahi

Nishimura & Asahi covers in depth all capital market transactions, including debt (Euro bonds, global bonds and Samurai bonds), equity (IPOs, follow-on offerings and PIPEs), hybrid securities (convertible bonds and subordinated bonds) and J-REITs as well as securitization transactions and derivative transactions.

The team has a large share of the market and its track record include transactions with difficult legal issues and attracted public attention, such as the demutualization of Dai-ichi Life Insurance, dual-listing IPO of LINE Corporation, follow-on offering by Idemitsu and PIPE by Toshiba.
In the securitization market, Nishimura & Asahi represents a wide variety of clients such as arrangers, originators and trustees in various asset-type transactions. The team is active in securitization transactions involving public financial institutions.

Chambers Review

Provided by Chambers

Capital Markets: Domestic - Japan

Band 2

What the Team is Known For

Nishimura & Asahi has a greatly accomplished team providing the full spectrum of debt and equity services, as well as giving strong advice on hybrid products such as convertible bonds. The firm possesses a wide-ranging set of capabilities on REIT offerings. It is also respected for its deep understanding of securitisation deals involving asset-backed securities and receivables. The team represents a range of clients, including trustors, arrangers and originators, as well as public financial institutions with regard to securitisation.

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Work Highlights

Provided by Chambers

  • Nishimura & Asahi advised JX Advanced Metals on its IPO on the Tokyo Stock Exchange.

  • Nishimura & Asahi advised SMBC Nikko Securities as arranger for a financing transaction in which Rakuten Mobile raised JPY170 billion for the sale and leaseback of a portion of its mobile network assets.

Strengths

Provided by Chambers

  • They have a high level of expertise and insight into the special field of securitisation, so they have a very high level of understanding.

    Capital Markets: Domestic respondentGlobal

  • N&A can provide advice that is not formulaic but is based on the client's perspective.

    Capital Markets: Domestic respondentGlobal

Notable Practitioners

Provided by Chambers

  • Kohei Koikawa
    Kohei Koikawa

    Kohei Koikawa

    Kohei Koikawa remains a go-to counsel for capital markets deals and is extremely proficient in both debt and equity offerings, as well as REITs.

    • He has a wide range of knowledge and provides accurate advice.

      Capital Markets: Domestic respondentGlobal

    • Kohei Koikawa offers high-quality services backed by his extensive experience and proven track record.

      Capital Markets: Domestic respondentGlobal
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  • Naoya Ariyoshi
    Naoya Ariyoshi

    Naoya Ariyoshi

    Naoya Ariyoshi receives praise from sources for his widespread activity in the securitisation field, as well as his knowledge of derivatives, such as credit default swaps.

    • He is the first to consult with when it comes to highly novel and complex transactions.

      Capital Markets: Domestic respondentGlobal

    • A well-known lawyer in the market who provides quality responses.

      Capital Markets: Domestic respondentGlobal
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  • Kentaro Sugimoto
    Kentaro Sugimoto

    Kentaro Sugimoto

    Kentaro Sugimoto is a well-regarded lawyer for capital markets, active in a diverse range of debt issuances and global equity offerings. His recent activity includes advising several major Japanese clients in their capacity as issuers.

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Ranked Individuals at Nishimura & Asahi (3)

Japan

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