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Japan Inc’s appetite for cross-border deals appears to be returning as vaccination programs roll out globally. Which regions and/or sectors will be first to see deal interest from Japanese corporates as travel bans are lifted and in-person due diligence can be conducted? And in a post-COVID world, what are the key issues dealmakers need to be mindful of?
Meanwhile, at home, deal activity continues to heat up with MBOs, corporate carve-outs, and founder-backed businesses seeking buyers. Japan is also seeing heightened interest from activists, in line with the increase in take-privates and merger activity. What can dealmakers do to prepare before becoming the target of activist campaigns?
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11:00
Live Virtual Briefing starts
In this live panel, we take stock of M&A activity in Japan and consider the outlook for the rest of the year, including:
- Overview of Q1 2021 M&A activity and insight
- What cross-border opportunities will open up as global vaccination campaigns are rolled out?
- Which sectors will witness the most deal activity, and why?
- As activist presence in Japan deepens, what can dealmakers do to prepare before becoming the target of campaigns?
- How are M&A transactions being conducted and what are the essential tools while travel remains curtailed?
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11:50
Live Q&A
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12:00
Closing remarks
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Yasuhiro Hirabayashi has more than 20 years of experience in M&A and business recovery, with particularly strong records in the Telecommunications, Media, Technology, Industrial Products, logistics, and Retail & Consumer sectors. He also assisted with many inspections, civil rehabilitation, and bankruptcy court proceedings.
He served as CEO of PwC AdvisoryLLC (Deals Leader in PwC Japan) from July 2016 to June 2019.
He relocated to Singapore and is leading the Japanese Services in South East Asia-Deals and Japan BusinessDevelopment in Singapore with effect from 1st January 2020.
- Atsushi Tatsuguchi is a Managing Director in Mergers and Acquisitions Advisory Group in the Investment Banking Business Unit of Mitsubishi UFJ Morgan Stanley Securities Co., Ltd.
- Since he joined Morgan Stanley in January 2006, Atsushi Tatsuguchi has been engaged in M&A advisory services and capital markets transactions in the Investment Banking Business Unit
- Graduated from the Faculty of Environment and Information Studies, Keio University in March 1998
Representative Transactions Include
- M&A Advisory
• Blackstone’s Acquisition of Takeda Consumer Healthcare Company (2020)
• Merger between Z Holdings and LINE (2019)
• Bain Capital’s Acquisition of HR Management Software Business from Works Applications (2019)
• TMC Holdings‘s Issuance of JPY300.0Bn Non-Convertible Preferred Shares to Development Bank of Japan through a third-party allotment (2019)
• PHCHD's Acquisition of LSI Medience in Stock-for-stock Transaction (2019)
• Yahoo Japan’s Issuance of New Shares Through a TPA to SBKK and Acquisition of its Shares by Self-Tender Offer (2019)
• Yahoo Japan’s repurchase of its 10.7% shares from SoftBank Group Japan (a wholly owned subsidiary of SoftBank Group) through a self-tender offer and SoftBank Corporation’s acquisition of 10.8% shares in Yahoo Japan from Altaba through a tender offer (2018)
• Bain Capital’s acquisition of Asatsu-DK (2017)
• Bain Capital and SK hynix Consortium’s acquisition of Toshiba Memory (2017)
• KKR’s acquisition of Hitachi Koki (2017)
• Mitsubishi UFJ Trust and Banking Corporation’s acquisition of UBS Global Asset Management alternative fund services business (2015)
• Advisor of Deposit Insurance Corporation of Japan on Resona’s formulation of Public Funds Full Repayment Plan (2013)
• ORIX’s acquisition of 90.01% stake in Robeco Groep N.V (EUR1,935 MM) (February 2013)
• BTMU and MUS Holdings’ buy-out of 49% stakes in Mitsubishi UFJ Merrill Lynch PB Securities (USD478 MM) (2012)
• Merger between Tokyo Stock Exchange Group and Osaka Securities Exchange (2011)
• Establishment of Mitsubishi UFJ Morgan Stanley Securities and Morgan Stanley MUFG (2010)
• MUFG’s USD9.0 Bn investment in Morgan Stanley (MS side) (2008)
• Transaction by BTMU to make UnionBanCal Corp its wholly-owned subsidiary (2008)
• Transaction by Mitsubishi UFJ Financial Group to make Mitsubishi UFJ Securities a wholly-owned subsidiary (2007) - Capital Markets
• Joint bookrunner for Mitsubishi UFJ Trust Bank’s senior debt offering (USD1.25 Bn) (October 2015)
• Joint bookrunner for Mitsubishi UFJ Trust Bank’s senior debt offering (USD1.5 Bn) (October 2014)
• Issuance of Series 1 Class A / B Specified Bonds by Meiji Yasuda Life 2012 Fund Special Purpose Company (JPY100 Bn) (2012)
• Meiji Yasuda Life’s issuance of JPY50.0 Bn of Series 1 specified bonds (secured) for Meiji Yasuda Life 2011 Fund Special Purpose Company (2011)
• MUFG’s global offering of common stock (JPY417.0 Bn) (2009)
• IPO by Seven Bank (2008)
• Sumitomo Mitsui Financial Group’s global offering of USD / GBP-denominated preferred securities (approx. JPY300.0 Bn) (2006)
• Principal investment in convertible preferred stock issued by Bank of the Ryukyus (JPY3.0 Bn) (2006)
Yusuke Sahashi has a broad practice in M&A (public, private, domestic and cross-boarder) and Corporate Governance.
Background
Mar 2006 The University of Tokyo (LL.B.)
Sep 2008 The Legal Training and Research Institute of the Supreme Court of Japan
Apr 2012 - Mar 2013 Worked for M&A Advisory Department of a Major Domestic Securities Firm
Aug 2014 - May 2015 University of Southern California (LL.M., Certificate in Business Law)
Sep 2015 - Jun 2016 Associated with McDermott Will & Emery, Paris
Publications
Introduction to Japanese Business Law & Practice Fourth Edition Anderson Mori & Tomotsune Sep 2019
Guidebook of English Language Contracts around the World Shojihomu Co., Ltd. Apr 2019
Alliance Agreements - Practice and Clauses Seirin Shoin Co., Ltd. Oct 2016
The case which denied the exercise of the right of avoidance of a bank transfer designated by the Civil Rehabilitation Act in case a
rehabilitation debtor accidentally transferred money to its bank account and the bank offset a loan to the rehabilitation debtor with
such deposit liability Business Homu (September 2011)
Lectures
Practical Issues on Business Transfer Japan In-House Lawyers Association (JILA) Tokai Branch Jan 25, 2021
Practical Issues on Business Transfer - Solution for Business Restructuring, Business Revitalization and Business Succession -
Anderson Mori & Tomotsune Nagoya Office
Oct 8, 2020
Workshop on English Contracts (Issues on License Agreement) Aichi Bar Association
Professional Admissions
Japan (2008)
New York (2016)
Certified Member Analyst of the Securities Analysts Association of Japan
Professional and Academic Associations
Aichi Bar Association
Japan In-House Lawyers Association
The Securities Analysts Association of Japan
Nobuki Watanabe
Executive Officer
Responsible for CEO’s Office
Responsible for New Business Development Department
Profile
| Apr 1998 | Joined Daiwa Securities Co. Ltd. |
|---|---|
| Aug 2001 | Joined ORIX Corporation |
| Jan 2015 | General Manager of New Business Development Department II |
| Apr 2017 | General Manager of New Business Development Department |
| Jan 2018 | Senior Advisor Assistant to Responsible for Group Strategy Business Unit |
| Jan 2019 | Group Strategy Business Unit Responsible for CEO’s Office Responsible for New Business Development Department |
| Jan 2020 | Executive Officer (Present) Responsible for CEO’s Office (Present) Responsible for New Business Development Department (Present) |
Yoichiro Shimizu is responsible for Datasite’s business development strategies and growth in Japan, as well as management of the local team.
He has more than 20 years’ experience in IT solution sales with major IT consulting firms and system integrators (SI). Shimizu began his career as a sales and marketing executive in New York to develop new opportunities for finance, high tech, automotive, manufacturing, and other verticals where he built strong and long-term relationships with channel accounts, SI partners, and C-level executives.
With extensive knowledge of country risk management and macroeconomics, Shimizu has worked with German, UK and US companies based in Japan. He also managed a startup company as CEO for more than 9 years and lead it to profitability.
About Datasite
Datasite, formerly known as Merrill Corporation, is a leading SaaS provider for the M&A industry, empowering dealmakers around the world with the tools they need to succeed across the entire deal lifecycle. For more information, visit www.datasite.com