Home /  Tokyo

    Tokyo

    Sullivan & Cromwell LLP
    Otemachi First Square East Tower 17F
    5-1, Otemachi 1-chome
    Chiyoda-ku, Tokyo 100-0004, Japan
    T: +81-3-3213-6140
    F: +81-3-3213-6470
    Directions

    Related Lawyers

    Sullivan & Cromwell was one of the first U.S. law firms to open a Tokyo office in 1987, promptly after Japan allowed non-Japanese lawyers to establish offices there. Through the years, the office has expanded as S&C’s Asia practice has grown.

    The Firm has worked on a number of prominent transactions involving major Japanese corporations, including registered U.S. public offerings and Rule 144A/Regulation S offerings from Japan. S&C is also a perennial leader in Japanese domestic and cross-border mergers and acquisitions.

    In addition, the Tokyo office is active in financial regulatory, litigation/investigation, project finance and FCPA and other compliance matters.

    Spotlight

    S&C Advises SoftBank Corp. on PayPay’s $880 Million U.S. IPO

    Read More

    S&C Advises Nippon Steel on ¥600 Billion Convertible Bond Offering

    Read More

    Keiji Hatano Named to Asian Legal Business’ ‘Dealmakers of Asia’ 2025 List

    Read More

    Keiji Hatano Recognized by ALB as one of the ‘Dealmakers of Asia’

    Read more
    hatano_483-x180

    Nine S&C Lawyers Recognized in IFLR1000 2023 Asia-Pacific

    Read More

    Experience

    Capital Markets

    • The underwriters in Activia Properties’ $212.5 million global equity offering in 2021 and $287.1 million global equity offering in 2018
    • The underwriters in ARUHI’s $240.2 million global equity offering in 2019
    • The underwriters in GLP J-REIT’s $534 million global equity offering and $199 million global equity offering in 2020, $416 million global equity offering and $563 million global equity offering in 2018
    • Honda Motor in its $3 billion senior notes offering in 2025, $513.4 million equity offering in 2024 and $2.75 billion global green notes offering in 2022

    • Industrial & Infrastructure Fund in its $324 million global equity offering in 2024, $123 million global equity offering in 2019 and $124 million global equity offering in 2018
    • Integral Corporation in its $140.1 million global IPO in 2023
    • Japan Post Bank in its $4.0 billion global equity offering in 2025 and $9.2 billion global equity offering in 2023
    • Japan Post Holdings in its $7.4 billion global equity offering in 2021
    • Japan Post Insurance in its $2.9 billion global equity offering in 2019
    • The underwriters in Mitsui Fudosan’s $300 million senior unsecured notes offering in 2022, $300 million senior notes offering in 2019 and $300 million senior notes offering in 2018
    • Nippon Prologis REIT in its $298.4 million global equity offering in 2020, $325.6 million global equity offering in 2019 and $258.3 million global equity offering in 2018
    • Nippon Steel Corporation in its ¥600.0 billion zero coupon convertible bonds offering in 2026 and ¥300.0 billion zero coupon convertible bonds offering in 2021 
      The 2026 issuance was the largest ever convertible bond issuance by a Japanese company, and, following the issuance, Nippon Steel was named “Equity Issuer of the Year” by LSEG DealWatch.
    • Nomura Holdings in its $750 million global Tier 2 Capital and TLAC securities offering, $1.0 billion global AT1 securities offering and $1.25 billion global TLAC notes offering in 2025, $2.0 billion global TLAC notes offering in 2024, $1.5 billion global TLAC notes offering and $1.9 billion global TLAC notes offering in 2023, $1.9 billion global TLAC notes offering and $2.5 billion global TLAC notes offering in 2022, $3.25 billion global TLAC notes offering in 2021 and $2.5 billion global TLAC notes offering and $3.0 billion global TLAC notes offering in 2020
    • The underwriters in Nomura Real Estate Master Fund’s $303.7 million global equity offering in 2019
    • The underwriters in Rakuten’s €1 billion undated subordinated hybrid notes offering and $1.75 billion multi-tranche undated subordinated hybrid notes offering in 2021 and $800 million senior notes offering in 2019
    • Rakuten Bank in its $666.7 million global IPO in 2023
    • Rakuten Group in its $550 million undated subordinated notes offering, ¥50.0 billion senior notes private placement, $2.0 billion senior notes offering and $1.8 billion senior notes offering in 2024 and tender offers to purchase up to $1 billion aggregate principal amount of certain of its outstanding securities in 2024, $1.9 billion global equity offering in 2023, $450 million “tap” senior notes offering in 2023 and $500 million senior notes offering in 2022
    • The underwriters in Renesas Electronics’ $2.6 billion global equity offering in 2018
    • The underwriters in Recruit Holdings’ $3.3 billion global equity offering in 2019
    • The underwriters in Sekisui House REIT’s $371.3 million global equity offering in 2019
    • The underwriters in Skylark Holdings’ $369.2 million global equity offering in 2021
    • The underwriters in SoftBank Corp.’s $1 billion senior notes offering in 2025
    • SoftBank Corp. as major shareholder in the Nasdaq listing and $1 billion IPO of PayPay Corporation in 2026 and as issuer in its ¥120 billion issuance of Series 1 Bond-Type Class Shares in 2023. S&C also represented SoftBank Corp. and SoftBank Group Corp. in SoftBank Corp.’s $11.8 billion global equity offering in 2020 and $23.55 billion global IPO in 2018
      The SoftBank Corp. IPO was the largest IPO in Japan of all time and the second largest IPO ever globally at the time. Named “Technology, Media and Telecommunications Deal of the Year” and “Equity Deal of the Year” by the Asian Legal Business. The Nasdaq listing and IPO of PayPay was named “Innovative Equity Deal of the Year” by LSEG DealWatch.
    • SoftBank Group Corp. in Arm Holdings’ $5.2 billion IPO in 2023
    • The underwriters in SUMCO CORPORATION’s $1.1 billion global equity offering in 2021
    • Takeda Pharmaceutical in its $2.4 billion global guaranteed notes offering, issued by its financing subsidiary, in 2025, $3.0 billion global notes offering and the concurrent tender offers by certain of its subsidiaries to purchase up to $1.5 billion aggregate principal amount of their outstanding securities in 2024, €3.6 billion global notes offering and $7.0 billion global notes offering in 2020 and €7.5 billion global notes offering and $5.5 billion global notes offering in 2018
      The 2018 dollar-denominated notes offering was the largest dollar-denominated bond offering by a Japanese issuer in history and the 2018 euro-denominated notes offering was the largest debut euro-denominated unsecured bond offering in history. The offerings were named “Debt Market Deal of the Year” by the Asian Legal Business.
    • Toshiba Corporation in Kioxia Holdings Corporation’s $783.0 million global IPO in 2024
      Named “Equity Market Deal of the Year” by the Asian Legal Business.
    • The underwriters in WingArc1st’s $154.8 million global IPO in 2021

    M&A

    • Aoki Shoten (Japan) in its acquisition of Aoki Super (Japan) in 2024
    • Bakkt Holdings (U.S.) in its investment in Marushohotta (Japan) in 2025
    • CarUX (Singapore) in its acquisition of Pioneer (Japan) in 2025
    • DMC Inc. (Japan) in its cash tender offer to acquire certain ordinary shares of I-PEX Inc. (Japan) in 2025
    • Goldman Sachs Japan (Japan) in its acquisition of Nihon Housing in 2024
    • Honda Motor (Japan) in acquisition of Yachiyo Industry and partial sale to SMRC Automotive Holdings in 2024 and its acquisitions of Keihin (Japan), Showa (Japan) and Nissin Kogyo (Japan) and their combination with Hitachi Automotive Systems (Japan) to establish a joint venture with Hitachi (Japan) in 2020
    • ITOCHU (Japan) in its acquisition of additional shares of Descente (Japan) in 2019
      The first successful hostile tender in Japan involving major public companies
    • J. Front Retailing (Japan) in its acquisition of Parco (Japan) in 2020
    • Lazard in its capacity as financial advisor to Showa Shell (Japan) in its business combination with Idemitsu Kosan (Japan) in 2019
    • The Longreach Group (Japan) in its acquisition of Japan Systems (Japan) in 2021
    • Makino Milling Machine (Japan) in the unsolicited tender offer by Nidec Corporation (Japan) (later withdrawn) and the proposed acquisition by MBK Partners (South Korea) in 2025
    • Marubeni (Japan) in its lease financing joint venture with IBJ Leasing (Japan) in 2019
    • Mitsubishi UFJ Financial Group (Japan) in its divestiture of MUFG Union Bank (U.S.) to U.S. Bancorp in 2022
    • Mitsui O.S.K. Lines (Japan) in its acquisition of DAIBIRU CORPORATION (Japan) in 2022 and in its acquisition of Utoc Corporation (Japan) in 2022
    • MUFG Bank, Ltd. (Japan) in its $936 million acquisition of additional shares of U.S. Bancorp in 2023
    • Nippon Express (Japan) in its establishment of a holding company in 2022
    • Nippon Steel (Japan) in its acquisition of Krosaki Harima (Japan), acquisition of Sanyo Special Steel (Japan) in 2025, Nippon Steel Trading (Japan) in 2022 and in its acquisition of Nisshin Steel (Japan) in 2019
    • Polaris Capital Group (Japan) in its acquisition of Space Value Holdings (Japan) in 2022
    • Raymond James (U.S.) in its pending acquisition of GreensLedge (U.S.)
    • Recruit Holdings (Japan) in its acquisition of Glassdoor (U.S.) in 2018
    • SBI Holdings in its acquisition of SBI Shinsei Bank in 2023
    • Sumitomo Pharma (Japan) and Sumitovant Biopharma (U.S.) in their “going-private” acquisition of Myovant Sciences (Bermuda) in 2023
    • Takara Leben (Japan) in its establishment of a holding company
    • Takeda Pharmaceutical (Japan) in its acquisition of Shire (Ireland) in 2018
      The biggest-ever acquisition of a foreign firm by a Japanese company
    • Tokio Marine Holdings (Japan) in its divestiture of Tokio Millennium Re AG (Switzerland) and Tokio Millennium Re (U.K.) Limited to RenaissanceRe Holdings (Bermuda) in 2019
    • Toyo Construction in its dealing with Yamauchi Family Office in 2023

    Rankings and Recognitions

    Read More

    News

    Read More

    Office Contacts

    Related Practices