Tim Burroughs Managing Editor ASIAN VENTURE CAPITAL JOURNAL

Tim Burroughs is managing editor of Asian Venture Capital Journal, having joined the publication in May 2011. He is responsible for all editorial content put out under the AVCJ brand, including Asian Venture Capital Journal, AVCJtv, AVCJ Awards and AVCJ.com. Tim previously spent five years at China Economic Review, serving as editor-in-chief and then editorial director. Located in Greater China since 2003, during which time he has lived in Beijing, Qingdao and Hong Kong, Tim has been a China-based contributor for publications including The Sunday Times, Sunday Telegraph, BBC and China Daily. Prior to moving to China, he trained and worked as a journalist in the UK. He was honored at the Society of Publishers in Asia awards in 2007, 2008 and 2010, and at the State Street Institutional Press Awards - Asia in 2012.

Ryuya Shiga Japan Bureau Chief - Mergermarket MERGERMARKET

Ryuya Shiga is Japan Bureau Chief of Mergermarket and has been leading the M&A coverage in Japan since 2022. He has provided actionable business intelligence involved in private equity buyouts and exits, domestic and cross-border M&A, including high-profile scoops on corporate carve -out. He joined Mergermarket in 2014 and has covered industrials & chemicals, logistics, consumer and leisure sectors.

Prior to Mergermarket, he worked in Tokyo-based TV stations where he covered corporate news, stock market, and international news as a reporter and field director.

Muneyuki Shirai Managing Director, Head of M&A Advisory Department SBI SECURITIES

Shirai-san started professional career at Mitsui Sumitomo Banking corporation, engaged in corporate finance and structured finance. He joined M&A team at Daiwa Securities and since then focused on M&A execution and origination in various sectors including industrials, chemicals, energy and consumer products.

In 2020, Shirai-san joined SBI securities, and led the M&A advisory team.

Takashi Niwa Executive Director, Strategic Growth & Investment FUJITSU

Joined Fujitsu in 2020, and since then, leading the M&A team of the group. Before joining Fujitsu, engaged in audit at Chuo Aoyama PricewaterhouseCoopers, then in M&A advisory / Investment Banking business at Nomura and Morgan Stanley

BA in Economics, Hitotsubashi University

Atsushi Tatsuguchi Managing Director, Head of M&A Advisory Group, Investment Banking Business Unit MITSUBISHI UFJ MORGAN STANLEY

• Atsushi Tatsuguchi is a Managing Director and Head of the Mergers & Acquisitions Advisory Group in Japan since March 2022
• 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
• MBK Partners' Sale of Accordia Next Golf to Fortress (2021)
• Bain Capital-Led Consortium’s Acquisition of Hitachi Metals Through a Tender Offer and Share Repurchase (2021) (Ongoing)
• 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)

Akihiro Kido Joint Head of Products Business Division, Head of Global Advisory MIZUHO SECURITIES CO.,LTD.

Kido has been engaged in advising M&A transactions since 2003 across a variety of industries including food & beverage, retail, paper, oil & gas, pharmaceutical, steel & metals, and leasing.

Selected Transactions:

Showa Shell on its share exchange by Idemitsu, Chubu Electric Power on its company split with Tokyo Electric Power of their thermal power generation business  to JERA, Maxvalu Kanto on its share transfer with Kasumi and Maruetsu to establish U.S.M.H, Universal Shipbuilding Corp on its merger with IHI Marine United, Nishimatsu Construction on its self-tender offer, Carlyle on its acquisition of Orion Beer with Nomura Capital Partners, Kobe Steel on its 50% share acquisition of Ulsan Aluminum (Korea) from Novelis,
Tokyo Century on its 50% share acquisition of leasing business of NTT Finance, its acquisition of CSI Leasing (USA) , its 20% share acquisition of Yoma Fleet(Myanmar) and 14.9% share acquisition of Advantage Partners(HK), JFE Shoji Trade America on its acquisition of Kelly Pipe (USA) , Lotte on its acquisitions of Guylian (Belgium) and E.Wedel (Poland), Aeon on its tender offers for the shares of Origin Toshu, Diamond City, and CFS, Fujitsu on its sale of Hard Disk Drive business to Toshiba, FX Prime on its sales through tender offer by GMO Internet, and Magaseek on its sales through tender offer by NTT Docomo.    

Kido received a B.A. in Economics from the University of Tokyo, an MBA from Oxford University, a Master in Finance from London Business School, a Management of Technology from the Tokyo University of Science.

Yoshinobu Agu Managing Director, Head of M&A Division CITIGROUP GLOBAL MARKETS

Yoshinobu Agu is the Head of M&A at Citigroup Global Markets Japan Inc. He also has senior coverage responsibilities for clients including financial sponsors, real estate companies, public sector clients, etc. He has worked on various M&A advisory roles in various sectors/industries, including both cross-border transactions in various geographies, as well as domestic transactions and restructuring deals. He joined Citi in 1998 after working for Nikko Securities. He holds a BA from the School of Commerce at Waseda University and MBA from Boston University.

Eri Yamaguchi Executive Director HOULIHAN LOKEY

Eri Yamaguchi is an Executive Director in Houlihan Lokey’s Corporate Finance business and is based in the firm’s Tokyo office. With more than 15 years of experience in M&A advisory and structured finance, she engages in executing a broad range of M&A transactions in liaison with global offices.

Previously, she was an Executive Director at GCA Corporation, which was acquired by Houlihan Lokey. Prior to joining GCA, she was with GE Capital as a Strategic Account Team Leader, where she focused on underwriting and credit decisions of structured finance, including LBOs and ABLs. Eri started her career at a Japanese megabank and moved on to M&A advisory at KPMG Corporate Finance, where she managed the entire process of M&A transactions, including deal structuring and negotiation, covering a wide range of industries for both domestic and cross-border transactions.

Eri holds a B.A. from the University of Tokyo and an MBA from INSEAD.

Masato Inuzuka Private Equity and M&A Services, Vice President MARSH JAPAN, INC.

Masato Inuzuka 

Marsh Japan, Inc.

Private Equity and M&A Services, Vice President

• Since he joined Marsh in January 2022, Masato has been engaged in risk advisory work, including arranging warranties and indemnity insurance for private equity and corporate clientele.
• Prior to joining Marsh, Masato has 11 years of sales experience for Tokio Marine Nichido Fire, including 2 years of experience in sales planning of both cross-border and domestic M&A insurance.

Hiroshi Shishikura Senior Vice President MARSH JAPAN, INC.

Senior Vice President
Marsh Japan, Inc.

Hiroshi Shishikura joined Nisshin Fire and Marine Insurance in 1986 and has built his career in the insurance/risk management business since then.  He was previously a division director at one of Japan's foreign insurance agencies, responsible for providing first-class services to large-sized global clients, which include large non-Japanese multinational companies operating in Japan. His responsibilities also involved the growth of overseas local, real estate, and private equity clients.

Masamichi Kono Senior Advisor, MUFG BANK Member of Global Advisory Board, MITSUBISHI UFJ FINANCIAL GROUP

Mr. Masamichi Kono is the Senior Advisor of MUFG Bank and a Member of the Global Advisory Board of Mitsubishi UFJ Financial Group (MUFG). He also serves as a trustee of the IFRS Foundation from July 2021.He served as the Deputy Secretary-General of the OECD from August 2017 until October 2021. 

His portfolio included navigating strategic direction of OECD policy on environment, tax, trade and agriculture, along with financial and organizational affairs. He oversaw the horizontal project on Climate and Economic Resilience and initiatives on Infrastructure and Sustainable Growth. Mr. Kono represented the OECD at the Financial Stability Board. 

Prior to joining the OECD, Mr. Kono was the Vice Minister for International Affairs, Financial Services Agency, Japan (JFSA) and the President of the Asian Financial Partnership Center of the JFSA.

In his capacity as the Vice Minister, he represented JFSA in various international bodies and was responsible for coordinating policies relating to international affairs for the JFSA.

During his term at JFSA, he served as the Chairman of the International Organization of Securities Commissions (IOSCO) Technical Committee from April 2011 until May 2012, and thereafter as the inaugural Chairman of the IOSCO Board until the end of his term in March 2013. He was also theCo-chair of the Financial Stability Board Regional Consultative Group for Asia from July 2013 to June 2015, and Chairman of the IFRS Foundation Monitoring Board from February 2013 to June 2016.

He has had a long career in financial supervision and the regulation of financial services, both in Japan and in the international arena, since joining the public service in 1978.

Before joining the Financial Services Agency, Mr Kono was Secretary to the WTO Trade in Financial Services Committee between 1994 and 1999, as Counsellor of the Trade in Services Division, World Trade Organization.

He also served for 4 years at the OECD Secretariat in the Economics Department, at the beginning of his career.

Mr Kono holds a B.A. in law from the University of Tokyo

Ayaka Fujiwara Climate Investment Specialist, Private Sector Facility GREEN CLIMATE FUND

Ayaka Fujiwara is a Climate Investment Specialist at the Green Climate Fund's (GCF) Private Sector Facility, where she has been responsible for the origination and appraisal of private sector climate projects and programs since 2018. With 13 years of experience in corporate, fixed income, and equity investments, Ayaka brings a wealth of expertise to her role.

Prior to joining GCF, she spent most of her career as an Associate Director in Daiwa Capital Markets' Tokyo headquarters and London office, where she provided fixed income investment strategy and managed transactions with institutional investors. Ayaka also worked as a corporate governance researcher in an M&A consulting firm in Myanmar.

Ayaka holds a bachelor’s degree in law from Keio University in Japan, an M.Sc. in Finance from London Business School in the UK, and is a Ph.D. candidate in Green Finance at Inha University in the Republic of Korea.

Yumiko Murakami General Partner MPOWER PARTNERS

Yumiko is the former head of the OECD Tokyo Centre. Prior to the OECD, she worked for 20 years in the global financial industry, mostly as a Managing Director at Goldman Sachs in New York, London and Tokyo. She is a leading authority on a wide range of economic policy issues such as corporate governance, tax guidelines, diversity, education, trade and innovation. She sits on several Government advisory panels, including Prime Minister Kishida’s panel on “the New Form of Capitalism”. Yumiko has an MBA from Harvard Business School, MA from Stanford University and BA from Sophia University.

Shoji Misawa Executive Director and Responsible Officer ORIX ASIA ASSET MANAGEMENT

Shoji Misawa serves as Executive Director and Responsible Officer at ORIX Asia Asset Management (OAAM) based in Hong Kong which is a wholly owned subsidiary of ORIX Corporation headquartered in Tokyo (ORIX). OAAM is HK SFC Type 1, 4 and 9 licensed asset management company established recently to provide professional investors with both debt and equity investment opportunities leveraging the resource of ORIX Group in Asia. Prior to OAAM, he has served as Managing Director of the climate fund management company in HK sponsored by ORIX Group and Asian Development Bank. Misawa has joined ORIX in 1988 and served a number of senior roles within ORIX Group in Japan, Hong Kong, United States and Canada. Misawa is known as the expert of structured finance and spoke at various industry events held in Japan, Hong Kong, Singapore, Thailand and France. Misawa has received his B.A. in Commerce from Doshisha University, Kyoto.

Kazuhiko Tahara Director, Corporate Governance & Sustainability - Japan MORROW SODALI

Kazuhiko is a global finance and investment expert, with particular expertise in ESG and sustainable finance.

Prior to joining Morrow Sodali, Kazuhiko was a principal advisor at S&P Global Market Intelligence (IHS Markit), providing insight and guidance on ESG to clients in APAC including Japan. Previous roles include promotion of ESG stewardship activities at Daiwa Asset Management. Earlier responsibilities in a long career include international primary markets, quants, corporate access and compliance at Daiwa Securities.

Kazuhiko has a Bachelor of Arts in Economics at Kyoto University and Master of Business Administration at the University of Chicago. He is a CFA Charterholder.

Joseph Fisher Partner HERBERT SMITH FREEHILLS GJBJ

Joe is a Partner within the Herbert Smith Freehills' Corporate team in Tokyo.

Joe has worked on a wide range of corporate matters for a number of major Japanese companies with a particular focus on M&A, joint ventures and general corporate and commercial transactions. He regularly advises on transactions in both developed and emerging markets and has worked on deals across numerous jurisdictions in the firm's London and Tokyo offices. Joe also has experience across a wide range of sectors including consumer products, manufacturing and industrials, TMT and energy.

Joe was named as an "Up and Coming" lawyer for Corporate and M&A in Japan by Chambers Asia-Pacific in 2023 and as a "Next Generation Partner" for Corporate and M&A in Japan by Legal 500's Asia Pacific 2023 rankings.

He is admitted to practice in New Zealand and in England and Wales and is a licensed Registered Foreign Lawyer (Gaikokuho Jimu Bengoshi) in Japan.

Sabrina Chia Partner and Head of Distribution FUSION

Sabrina Chia is a Partner and Head of Distribution at Fusion. She is a qualified M&A lawyer with over 15 years of M&A and corporate experience. She has previously worked in various in-house roles covering different industries in multinational companies in APAC. Sabrina graduated from the National University of Singapore and is based in Singapore. She is a 2022 Insurance Business Asia Elite Women award winner.

Ferdinando “Nani” Falco Beccalli Senior Founding Partner, Chairman FALCO GLOBAL PARTNERS

Ferdinando “Nani” Falco Beccalli is Chairman & CEO of Falco Holding, Senior Founding Partner & Chairman of Falco Global Partners, and President & CEO of Falco Enterprises. He serves as Senior Advisor to Quadrivio Group, as Chairman of ASK Chemicals and as a Member of the Board of Directors of the Centre for European Policy Studies (CEPS) in Brussels.

Prior to his current roles, he spent 40 years at GE. Having started his career in the United States in 1975, he served in leadership positions in the U.S., the Netherlands, Japan, Belgium and Germany, and left the company in 2014 as Senior Vice President and member of the Corporate Executive Council responsible for GE Europe.

He also served as Senior Advisor of Rhône Group; on the Science and Technology Advisory Council to European Commission President José Manuel Barroso; on the Supervisory Board of Covestro AG; as President of ENAV S.p.A and of GE Avio S.r.l; as Chairman of the Board of Wellbore Integrity Solutions; as Member of the Board of Neovia Logistics, of Zodiac Pool Systems, Inc., of INTER RAO, of the Foreign Policy Association in New York, of the John F. Kennedy Atlantic Forum in Berlin, of the GE Foundation,of the Junior Achievement Young Enterprise and of the Emmanuel Center Stiftung, and was Member of the Trilateral Commission, of the International Business Advisory Councils of the cities of Jerusalem, Rome and Rotterdam, and of the International Board of Overseers of the Sabancı University in Istanbul. He acted as a Senior Advisor to A.T. Kearney Italia andto the Steering Committee of the LUISS School of Government in Rome, and was International Advisor to the Bocconi University in Milan, to Prime Minister Raffarin of France and to the Polish Minister of Finance in 1995.

In 2007, President Napolitano appointed him Cavaliere del Lavoro (Knight of Merit for Labor). In 2008, President Sarkozy has granted him the Legion of Honor.

A native of Italy, Mr. Falco Beccalli earned a master's degree in chemical engineering from the Polytechnic of Torino in Italy.

Daimon Punjabi Managing Director UNISON CAPITAL

Daimon Punjabi joined Unison Capital in 2012. Prior to Unison Capital, he worked at the Investment Banking Division of SMBC Nikko Securities and Nikko Citigroup, where he was primarily engaged in corporate finance and M&A advisory for consumer and retail sectors. Mr. Punjabi holds a BBA in Finance and Investments from the Zicklin School of Business, Baruch College in New York.

Takashi Ohara Partner BAIN & COMPANY

Takashi Ohara is member of Bain & Company’s Technology, Telecommunications, Mergers & Acquisitions and Strategy practices.

He has more than 15 years of experience in advising clients across industries, including electronics, automotive, consumer products and services.

He holds deep expertise in such topics as corporate turnaround strategy, growth strategy, cost transformation, digital marketing, and M&A. He leads Tokyo office's M&A practice.

Hide Harada Chief Strategy Officer PANASONIC CONNECT CO., LTD.

Career History: 

1986 Matsushita Electric Industrial Co., Ltd. (Current Panasonic Holdings)

1991-1997 Stationing at Panasonic U.K. as PC Factory representative

1997-2005 Stationing at Panasonic Personal Computer Company in United States

2005-2008 Vice President, Panasonic Corporation of North America

2008-2011 General Manager, IT Products Business Unit, Panasonic Corporation.

2011-2013 Director, IT Products Business Unit 2013-2015 Director of IT Products Business Division

2015-2017 General Manager, Corporate Strategy Division, Corporate HQ

2017-2020 Vice President, Connected Solutions Company

2020-2022 Senior Vice President, Connected Solutions Company

2021- Board of Directors, Blue Yonder, Inc

2022- Senior Executive Vice President / Chief Strategy Officer, Panasonic Connect

Academic background:

 Mr. Harada graduated from the Kobe City University of Foreign Studies.

Reiji Yoshida Senior Reporter MERGERMARKET

Reiji Yoshida is a Tokyo-based reporter covering M&A deals and growth strategies of Japanese companies, mainly those in the industrials sector. He also regularly writes top executive interview stories of Japan-based startups.

Prior to joining Mergermarket in May 2021, he served as Senior Writer / Deputy Manager of the Domestic News Division of The Japan Times, the oldest and largest English-language newspaper of the country. Started his journalistic career in 1993, he has extensive experience of covering Japan-related topics as writer /editor.

Gen Tsuchikawa Chairman SONY VENTURES CORPORATION

Gen Tsuchikawa is the Chairman of Sony Ventures Corporation, where he supports the venture investment arm of Sony Group Corporation known as the Sony Innovation Fund. In this role, he is responsible for strengthening external relationships on behalf of the organization within the venture capital industry and globally through collaborative initiatives with prominent industry associations, corporate venture funds, and venture capitalists. Gen established Sony Innovation Fund on behalf of Sony in 2016. Under his leadership, Sony Innovation Fund greatly expanded its focus on early- to growth-stage emerging technology startups in the entertainment, healthtech, fintech, deeptech and environmental sectors. He also helped to increase the fund’s assets under management to more than $600 million in 2023.

Gen has spent nearly 20 years at Sony, where he also currently serves as a Corporate Vice President. Gen previously served in other various executive roles at Sony, leading Corporate Development, M&A, Business Development, and Investors Relations.

Prior to joining Sony, Gen spent 20 years in the finance industry at Merril Lynch and the Industrial Bank of Japan.

Gen holds a B.A. from Hitotsubashi University in Japan and an M.B.A. from Stanford Graduate School of Business.

Ryohei Nomoto Principal GLOBIS CAPITAL PARTNERS

After beginning his career as a lawyer supporting startups, Ryohei Nomoto joined the KDDI Group's Supership Holdings in 2015. As the Head of Corporate Development and a subsidiary executive, he has overseen the development of company-wide strategies, M&A, business development, and policy planning. In 2019, he joined Globis Capital Partners. He is the author of "Successful Alliances: Strategy and Practice" (published by Nihon Jitsugyo Publishing) and more.

Hidetaka Kojima Head of M&A and Strategic Planning, SHIFT INC. Director of the Board, SHIFT GROWTH CAPITAL INC.

Hidetaka Kojima started his career as a financial advisor at Daiwa Securities Co. Ltd. and then moved to GCA (Houlihan Lokey). After that, he joined Mitsubishi Corporation in 2011 upon the establishment of the Food Sciences Division and then SHIFT Inc. in 2020. He was also involved in the establishment of SHIFT Growth Capital Inc. and then appointed as a director of this company in March of 2022.

He has been responsible for the planning and execution of M&A/PMI strategy at these companies. Thus, he has over 15 years’ hands-on M&A/PMI experience both in industry and as an advisor. He is also a regular speaker at M&A conferences/seminars and frequently contribute to M&A journals.

Hidetaka Kojima completed PLD course (PLDA) at Harvard Business School. He also received an MBA from Hitotsubashi University and earned a BA from Tokyo University of Foreign Studies. He is a certified accountant.

Yohei Nakagawa Partner MORRISON FOERSTER

Yohei received his J.D. from the UCLA School of Law and received his B.S. in Sports Management from New York University.

Yohei is admitted to practice in New York and in Japan as a gaikokuho-jimu-bengoshi.

M&A

• NTT Limited, a global IT solutions and technology provider, in its $330 million sale of NTT Security AppSec Solutions Inc. (d/b/a WhiteHat Security), a leading provider of application security Software-as-a-Service (SaaS), to Synopsys, Inc.
• SoftBank Group Corp. and SoftBank Vision Fund in the proposed $65 billion sale of UK-headquartered multinational semiconductor and software design company Arm Limited to U.S. chip company NVIDIA (NASDAQ: NVDA).
• SoftBank in the sale of a majority of its stake in robotics company Boston Dynamics, Inc. to South Korean automaker Hyundai Motor Company.
• Divvy, a leader in spend management, in its $2.5 billion sale to Bill.com (NYSE: BILL), a provider of cloud-based software that simplifies, digitizes, and automates complex back-office financial operations for small and midsize businesses (SMBs).
• Uber on its acquisition of a majority stake in Cornershop, a grocery delivery start-up that is active in Chile, Mexico, Peru and Canada, to expand its food delivery business.
• Mitsubishi Heavy Industries in its US$550 million carve-out acquisition of the regional jet program from Bombardier Inc., a global leader in the transportation industry.
• Spark Networks SE (NYSE: LOV) on its combined cash and stock acquisition of Zoosk, Inc., which created the second largest dating company in North America.
• A leading Japanese insurance company in its strategic investments in innovative technology companies.
• Renesas Electronics Corporation in its $6.7 billion acquisition of NASDAQ-listed Integrated Device Technology (IDT), a market-leading analog mixed-signal company, to create market-leading embedded solution capabilities.
• Asahi Kasei Corporation in its approximately $1 billion acquisition of U.S.-based Sage Automotive Interiors, Inc., from Clearlake Capital Group.
• SoftBank in a series of transactions with Altaba Inc. in connection with Yahoo Japan Corporation, including a $2 billion tender offer by SoftBank Corp. for shares of Yahoo Japan held by Altaba and an approximately $2 billion (JPY 220 billion) self-tender offer by Yahoo Japan for its shares held by SoftBank.
• Sprint Corp. and SoftBank Group Corp., Sprint’s controlling shareholder, on the landmark merger of Sprint and T-Mobile US, Inc. The total implied enterprise value for Sprint is approximately $59 billion and the aggregate implied enterprise value for the combined company in the all-stock transaction is approximately $146 billion. The transaction is one of the largest telecommunications deals in history.
• Toshiba Corporation on the $18 billion sale of its wholly owned subsidiary Toshiba Memory Corporation to a consortium led by Bain Capital.
• Tanaka Kikinzoku Kogyo, a Japanese company specializing in precious metals refining and fabrication, in its acquisition of Metalor Technologies International, a Swiss-based competitor.
• FUJIFILM Holdings in its proposed $6.1 billion acquisition of control of Xerox Corporation.
• Tayca Corporation, a TSE-listed producer of industrial chemical products, in its acquisition of TRS Technologies, Inc., a privately held U.S. producer of piezoelectric and dielectric materials technology.
• Yamazaki Baking in its acquisition of Bakewise Brands, a privately owned U.S. manufacturer of premium baked products.
• Mizkan Holdings Co., Ltd. in its $2.2 billion acquisition from Unilever of the Ragú and Bertolli pasta sauce business.*
• Yamaha Corporation in its acquisition of Line 6, Inc.*
• Japan Bank for International Cooperation in its $620 million convertible preferred stock investment in Gavilon Agriculture Holdings, Co. in support of Marubeni Corporation’s $2.6 billion acquisition of Gavilon’s agricultural business.*
• Mizuho Bank, Ltd. in its acquisition of Banco WestLB do Brasil S.A.*

Capital Markets

• Underwriters’ counsel on Nippon Life Insurance Company’s $1.5 billion Rule 144A/Regulation S global offering of hybrid debt.
• Meiji Yasuda Life Insurance Company, as issuer’s counsel, in its $2.0 billion Rule 144A/Regulation S global offering of hybrid debt.
• Invincible Investment Corporation, as issuer’s counsel, in its Rule 144A/Regulation S global equity offering.
• NanoCarrier Co., Ltd., as issuer’s counsel, in its $115 million Rule 144A/Regulation S global offering of shares of common stock.*
• Olympus Corporation, as issuer’s counsel, in its $1.1 billion Rule 144A/Regulation S international offering of shares of common stock.*

 * Denote transactions prior to joining Morrison Foerster

Reiji Terasaka Managing Director, Carlyle Japan Buyout Advisory Team CARLYLE JAPAN

Reiji Terasaka is a Managing Director of the Carlyle Japan buyout advisory team, and the head of the Industrial sectors team. He is based in Tokyo. 

Mr. Terasaka first joined Carlyle Japan in 2003 and worked as a buyout professional for 10 years, after which he moved on to the corporate management serving several executive positions at Japan Display, Berlitz Corporation and Marelli Corporation. He returned to Carlyle in 2020.  Prior to joining Carlyle, Mr. Terasaka worked at the Japanese Ministry of Finance for six years.

Mr. Terasaka currently serves on the Board of Directors at Rigaku Corporation. He received his M.B.A from Stanford Graduate School of Business where he was an Arjay Miller Scholar.  He received his M.A.L.D from Fletcher School of Law and Diplomacy at Tufts University and a B.A from the University of Tokyo.

Atsushi Akaike Managing Partner, Co-Head of Japan CVC CAPITAL PARTNERS

Managing Partner, Co-Head of Japan, joined CVC in 2015. Atsushi is based in Tokyo and leads our private equity activities in Japan. He is a member of the Asia Private Equity Board and the Asia Executive Committee, a sub-committee of the APEB that oversees and drives our investment activity in the region. Prior to joining CVC, he spent over eleven years at Advantage Partners as a Senior Partner, he led Management and Leveraged BuyOut transactions. Prior to this, he worked for McKinsey & Co., Tokyo, and PricewaterhouseCoopers. Atsushi holds a Doctor of Philosophy from Colorado School of Mines, a Master of Science and a Bachelor of Engineering degree from The University of Tokyo.

Yusuke Ichikawa Partner ADVANTAGE PARTNERS

Yusuke Ichikawa joined Advantage Partners in March 2003.

He has executed 14 Private Equity and PIPES investments, including highly successful deals such as Nihonkaisui with its bold industry restructuring and Net Protections, a leading Japanese fintech growth stock that went public. He has led industry initiatives within the fund related to digital, B2B services, and healthcare. Currently, he is responsible for and serves on the boards of Nareru Group, Material Group, and Spiral, among other investments in the relevant industries.

Other notable investment angles include.

Turnarounds

Turnaround investments in the former Kanebo, Inc. and Megane Super, Inc. resulted in significant improvements in profitability by improving cost structures and renewing brands.

Owner business succession and roll-up

After taking over the business from the founders, Oishes and Nihon Meika Sohonpo incorporated M&A as a core part of their strategy to integrate and operate multiple B2C brands and achieve margin expansion.

Infrastructure and energy investments

Invested in Neo Corporation, an electricity-saving service provider, and Ecolocity, a leading parking lot operator, to expand its customer base and create value through marketing digitization.

Tetsuro Onitsuka Partner EQT PARTNERS

Tetsuro Onitsuka joined EQT Partners in October 2021 and is a partner in EQT’s Asian Private Capital Division, BPEA EQT.

Prior to joining EQT, Tetsu was a founding member and Managing Director of Japan Post Investment Corporation, which managed approximately USD 1 billion in private equity funds. Prior to Japan Post Investment, he worked at TPG Capital for over ten years, ultimately running TPG’s Japan business. He also previously worked as an investment banker at Morgan Stanley in Tokyo.

Tetsu received a Bachelor of Arts with High Distinction from Harvard College, and a Master of Business Administration with High Distinction (Baker Scholar) from Harvard Business School.