Capital Markets: Domestic | Asia-Pacific

Anderson Mori & Tomotsune is a market-leading firm handling complex equity offerings, with a focus on underwriter representation on global IPOs. The firm is especially active in acting for power companies and other issuers of debt, with knowledge of a diverse range of yen-denominated bonds, including samurai and uridashi bonds. It is also highly experienced in structured finance and securitisation matters, such as loan receivables and project finance bonds. The team is very well placed in the market for J-REIT work. Its key clients include Japan International Cooperation Agency and Morgan Stanley International.

Mori Hamada & Matsumoto is a highly thought-of firm that acts for clients on a variety of debt and equity transactions, including convertible bonds, MTN programmes, J-REIT offerings and high-profile global IPOs. The firm works with top-tier issuers and underwriters. The team demonstrates impressive expertise in structured finance products and derivatives matters, including receivables, tokenised derivatives and non-recourse property finance lending. Its key clients include Japan Post Holdings, Fujitsu and Morgan Stanley.

Nagashima Ohno & Tsunematsu maintains its leading reputation for advising on large-cap debt issuances and is frequently relied upon by domestic issuers in innovative transactions, including convertible, green and blockchain bonds. The firm also has a noteworthy share of equity capital markets deals, including global IPOs. It is very highly regarded for its complex work in the securitisation space, including revenue and covered bond issuances, and wins praise for its work acting for listed J-REITs in public offerings and Japanese offerings by foreign issuers. Its key clients include East Japan Railway, Morgan Stanley and SMBC Nikko Securities.

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 well 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. Its key clients include Nippon Steel, Mitsubishi and Japan Finance Corporation.

Morrison Foerster is well known for advising a range of businesses and financial institutions, including issuers, sponsors and initial purchasers. The firm is sought out for its leading credentials in J-REIT IPOs, as well as its experience in traditional ECM and DCM matters, and its key areas of focus also include acting on transactions involving government entities. It offers cross-border expertise by working in close conjunction with offices in its global network. The firm is increasingly active on restructurings through tender offerings as well as SEC-registered debt offerings. Its key clients include SoftBank Group, Mitsubishi and Daiwa Securities.

Baker McKenzie is active in equity and debt transactions, with specific expertise in handling samurai bonds and stock option issuances. The firm counts subordinated debt and hybrid issuances in its repertoire. It is known for its representation of an array of clients including corporations in the life sciences sector as well as financial institutions. The team has further expertise in matters concerning tax regulation and insider trading. Its key clients include Universal Entertainment, Microsoft and Toyota.