Izumi Akai is a partner* of the Firm and co-head of S&C’s Japan practice, and is a member of the bar of the State of New York and Japan. Mr. Akai is a Japanese citizen and is fluent in both English and Japanese.
Mr. Akai started his career as a lawyer in 1982 at a law firm in Tokyo. He practiced in S&C’s New York office from 1987 to 1992. In 1996, he rejoined S&C and since then has been based in the Firm’s Tokyo office. He actively participates in the U.S. law practice of the Firm and is also available to render advice on certain matters of Japanese law. Throughout his career, Mr. Akai’s practice has involved capital markets, mergers and acquisitions, real estate and other corporate work for a number of Japanese and non-Japanese clients. Mr. Akai has actively participated in securities offerings and listings in the United States by a number of Japanese issuers. He also has been involved in acquisitions and joint ventures in and outside Japan involving Japanese companies.
Recent Representations
Capital Markets
In the capital markets area, Mr. Akai has extensive experience in advising securities offerings and listings in the United States of a number of Japanese companies. His experience includes:
- U.S. counsel to Sompo Japan Insurance Inc. in its pending notes offering in 2013
- U.S. counsel to Japan Tobacco Inc. (“JT”) and the Minister of Finance of Japan in JT’s $7.8 billion global equity offering in 2013
- U.S. counsel to Nippon Prologis REIT, Inc., in its $1.08 billion global IPO in 2013
- U.S. counsel to Industrial & Infrastructure Fund Investment Corporation in its $120 million global equity offering in 2013
- U.S. counsel to the underwriters in a $1.32 billion global IPO of GLP J-REIT in 2012
- U.S. counsel to Daiwa House REIT Investment Corporation in its $626 million IPO in 2012
- U.S. counsel to the underwriters in $2 billion “hybrid” notes offering of Nippon Life Insurance Company in 2012
- U.S. counsel to Japan Retail Fund Investment Corporation in its $352 million global equity offering in 2012 and $252 million global equity offering in 2011
- U.S. counsel to Japan Airlines Co., Ltd. (JAL) in its $8.5 billion global IPO in 2012. S&C represented JAL and Enterprise Turnaround Initiative of Japan (ETIC), a government-sponsored entity tasked with supporting financially distressed companies, on the international offering
- U.S. counsel to Takeda Pharmaceutical Co., Ltd. in its $3 billion notes offering in 2012
- U.S. counsel to the underwriters in $1.2 billion global IPO of Activia Properties, Inc. in 2012
- U.S. counsel to Mitsui Sumitomo Insurance Company, Ltd. in its $1.3 billion “hybrid” notes offering in 2012
- U.S. counsel to Industrial & Infrastructure Fund Investment Corporation in its $250 million follow-on global offering of its investment units in 2012
- U.S. counsel to the underwriters in $1.2 billion global IPO of Nexon Co., Ltd. in 2011
- U.S. counsel to the underwriters in Elpida Memory Inc.’s $553 million global equity offering in 2011, $630 million global equity offering in 2009, $1.2 billion global equity offering in 2006, and $962 million global IPO in 2004
- U.S. counsel to the underwriters in $1.3 billion “hybrid” notes offering of Dai-ichi Life Insurance Company, Limited in 2011
- U.S. counsel to the underwriters in $2.25 billion global IPO of Otsuka Holdings, Inc. in 2010
- U.S. counsel to Nippon Sheet Glass Co., Ltd. in its $498 million global equity offering in 2010
- U.S. counsel to INPEX Corporation in its $6.0 billion global equity offering in 2010
- U.S. counsel to Nomura Holdings, Inc. in $1.25 billion SEC registered notes offering in 2011, $3.0 billion SEC-registered notes offering in 2010, and $5 billion and $2.8 billion global equity offerings in 2009
- U.S. counsel to the underwriters in Mizuho Financial Group Inc.’s $8.0 billion global equity offering in 2010, $4.8 billion global equity offering in 2009, and $4.2 billion global equity offering in 2005
- U.S. counsel to the underwriters in $11.2 billion global IPO of Dai ichi Life Insurance Company, Limited in 2010
- U.S. counsel to the underwriters in $2.8 billion global equity offering of Hitachi, Ltd. in 2009
- U.S. counsel to the underwriters in $1.5 billion global equity offering of All Nippon Airways Co., Ltd. in 2009
- U.S. counsel to the underwriters in the $471 million global IPO of Seven Bank, Ltd. in 2008
- Other significant capital market transactions including, among many others, global equity offerings by Sony Financial Holdings, Universal Studios Japan, Idemitsu Kosan and Aeon Co., Ltd. and privatizations by J-Power, Japan Tobacco, NTT, Central Japan Railway Company and West Japan Railway Company
Acquisitions
In the acquisitions area, Mr. Akai has actively participated in acquisitions and joint ventures in and outside Japan involving Japanese companies. Highlights of his M&A work include:
- Advising Hitachi Metals, Ltd. in its pending acquisition of Hitachi Cable, Ltd.
- Advised Osaka Securities Exchange Co., Ltd. in its pending merger with Tokyo Stock Exchange Group, Inc.
- Advised Hitachi Metals, Ltd. in its $146 million acquisition of Hitachi Tool Engineering Ltd. in 2012
- Advised Nippon Steel Corporation in its $22 billion merger with Sumitomo Metal Industries, Ltd. in 2012
- Advised Tokio Marine Holdings, Inc. in its $2.7 billion acquisition of Delphi Financial Group, Inc. in 2012
- Advised Kubota Corporation in its $280 million acquisition of Kverneland ASA (Norway) in 2012
- Advised FC Residential Investment Corporation in its $793 million acquisition of Ichigo Real Estate Investment Corporation in 2011
- Advised Panasonic Corporation in its $9.7 billion acquisition of the outstanding minority interests in its subsidiaries SANYO Electric Co., Ltd. and Panasonic Electric Works Co., Ltd. in 2011
- Advised Sumitomo Trust & Banking Co., Ltd. in its $9.1 billion consolidation with Chuo Mitsui Trust Holdings Inc. in 2011
- Advised Crescendo Investment Corp. in its $392 million acquisition of Japan Single-residence REIT Inc. in 2010
- Advised Unicharm Corporation in its $473 million acquisition of Unicharm PetCare Corporation in 2010
- Advised Mitsui Sumitomo Insurance Group Holdings in $5.8 billion acquisition of Aioi Insurance and Nissay Dowa General Insurance in 2010
- Advised Sompo Japan Insurance and NipponKoa Insurance in its $4.6 billion merger in 2010
- Advised Japan Retail Fund Investment Corp. in its $816 million acquisition of LaSalle Japan REIT in 2009
- Advised Nomura Trust & Banking Co., Ltd. in its $197 million acquisition of NikkoCiti Trust and Banking Corp. in 2009
- Advised Tokio Marine Holdings in its $4.7 billion acquisition of Philadelphia Consolidated Holding in 2008
- Advised Advantage Partners LLP in its $2.2 billion acquisition of Tokyo Star Bank Ltd. in 2008
- Advised Eisai Co., Ltd. in its $3.9 billion acquisition of MGI Pharma, Inc. in 2008
- Advised Amgen in its $300 million Sale of Amgen KK to Takeda in 2008
- Advised Nippon Steel in its joint venture with ArcelorMittal in 2008
- Advised Mitsukoshi Ltd. and Isetan Co., Ltd. in their $3.8 billion merger in 2008
- Advised Hoya Corporation in its $765 million acquisition of Pentax Corporation in 2007
- Advised Mitsui & Co. (U.S.A.), Inc. in its $533 million acquisition of Steel Technologies, Inc. in 2007
- Advised Mitsubishi Tokyo Financial Group, Inc. in its $29 billion merger with UFJ Holdings in 2005
- Other significant mergers and acquisitions, including, among many others, Nippon Oil/Nippon Mining, Daimaru/Matsuzakaya, Eisai Corp. of America/Morphotek and Sumitomo Mitsui Financial Group/SMBC Friend Securities
Recognitions
Mr. Akai has been recognized for his expertise by numerous publications, including:
- “Izumi Akai is a top-class lawyer who leads the firm's Japan capital markets practice. One source said: ‘He is one of the few lawyers based in Japan who can give real strategic legal advice.’” Chambers Asia 2013
- “Izumi Akai is co-head of the Tokyo M&A practice, and his knowledge of US law is said to put him in ‘a category all by himself.’” Chambers Asia 2013
Capital Markets
- Client Choice International (2013)
- International Dealmaker of the Year at ALB Japan Law Awards (2008, 2010)
- Asialaw Leading Lawyers (2003, 2005, 2006, 2008, 2009, 2010, 2011, 2012, 2013) in Capital Markets and Corporate Finance
- Asian Legal Business (2006, 2007, 2008, 2010) among the ALB Hot 100
- The Best Lawyers in Japan (2009, 2010, 2011, 2012, 2013)
- Chambers Global (2000-2001, 2001-2002, 2002-2003, 2003, 2004-2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013)
- Chambers Asia and Pacific Region (2008, 2009, 2010, 2011, 2012, 2013)
- Euromoney’s Guide to the World’s Leading Capital Markets Lawyers (2002, 2003, 2005, 2007, 2006, 2009, 2011, 2012)
- IFLR1000 (2008, 2010, 2011, 2012, 2013)
- The International Who’s Who of Capital Markets Lawyers (2005, 2006, 2007, 2009, 2010, 2011, 2012)
- The International Who’s Who of Business Lawyers (2006, 2007, 2010, 2011, 2012)
- Lawyer Monthly Capital Markets Advisor of the Year, Japan (2011)
- Legal 500 Asia Pacific (2009-2010, 2010-2011, 2011-2012, 2012, 2013)
- PLC Capital Markets multi-jurisdictional guide (2012)
- PLC Cross-border Capital Markets Handbook (2008, 2009, 2011, 2012)
- PLC Global Counsel Equity Capital Markets Handbook (2004-2005)
- PLC Which Lawyer? Yearbook (2001-2002, 2002-2003, 2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012)
Corporate/M&A
- Chambers Global (2004-2005, 2006, 2007, 2008, 2009, 2010, 2011, 2012, 2013)
- Chambers Asia and Pacific Region (2008, 2009, 2010, 2011, 2012, 2013)
- IFLR1000 (2008, 2010, 2011, 2012, 2013)
- PLC Cross-border Mergers and Acquisitions Handbook/PLC Global Counsel Mergers & Acquisitions Handbook (2004-2005, 2005, 2006-2007, 2007-2008, 2008-2009, 2009-2010, 2010 2011, 2011-2012)
- PLC Which Lawyer? Yearbook/Global Counsel 3000 (2003-2004, 2005, 2006, 2007, 2008, 2009, 2011, 2012)
Banking & Finance
- Asialaw Leading Lawyers (2012) in Banking
- Chambers Global (2001-2002, 2002-2003)
- Euromoney’s Guide to the World’s Leading Banking Lawyers (2005, 2007, 2009, 2011, 2012)
* Treated as a partner under a joint enterprise arrangement as permitted under Japanese bar rules.
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Education
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Languages Spoken
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