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.