East Asia - Japan

Clifford Chance

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The well-renowned capital markets team at Clifford Chance is lauded by clients as 'one of the best UK law firms in Japan', and complimented for its 'practical advice' on real estate asset acquisitions, innovative asset backed financing, and public convertible bonds. Leng-Fong Lai, who is dual qualified in England and Wales and Singapore, leads the team, regularly advising hedging providers, trustees, sponsors, and banks. The group is known for assisting clients with international debt cases, medium-term notes, and equity capital markets products, areas in which Reiko Sakimura has a great deal of knowledge. Key members within the practice also include Eiichi Kanda and of counsels Chihiro Ashizawa, Hajime Saito, and Matthew Ball.

Legal 500 Editorial commentary

Testimonials

Collated independently by Legal 500 research team.

  • ‘Reiko Sakimura and Matthew Ball have great experience in the Japanese public sector. They always give us practical advice in a timely manner as they understand the market and our business very well.’
  • ‘The team in CC has strong knowledge and plenty of experience in the market and is able to produce practical advice very quickly.’
  • ‘Chihiro Ashizawa is outstanding, with her practical knowledge and experience.’
  • ‘The Clifford Chance capital markets team led by Reiko Sakimura is highly reputable because of the team's commitments to transactions, providing legal yet commercial advice. The team has developed its capability and quality of service.’
  • ‘Matthew Ball is one of the most reliable transaction lawyers in capital markets.’
  • ‘One of the best UK law firms in Japan. Excels in capital markets both of debt and equity. Especially good at debt financings.’
  • ‘Reiko Sakimura is very good and a business-oriented lawyer, and especially excels in debt offerings.’

Key clients

  • Accenture plc
  • Bank of America Merrill Lynch
  • Barclays
  • Commerzbank AG
  • Daiwa
  • HSBC
  • Japan Bank for International Cooperation
  • J.P. Morgan
  • Lloyds Banking Group
  • Mitsubishi UFJ
  • Mizuho
  • Morgan Stanley
  • Nomura
  • Nordea
  • SMBC Nikko
  • Standard Chartered
  • Vena Energy

Work highlights

  • Acted as English and US legal advisers to the joint lead managers on the issue of Rule 144A/Reg S USD-denominated bonds by the Metropolis of Tokyo, listed on the London Main Market and the Tokyo Pro-Bond Market.
  • Acted as Japanese and English legal advisers to HSBC Holdings on its issue of Samurai Bonds comprising of 3 tranches of TLAC-compliant and 1 tranche of subordinated bonds (the first subordinated bond offering by a UK bank in Japan).
  • Advised Vena Energy on the issuance of a green project bond to a global investment group, to finance a solar project in Fukushima Prefecture, Japan.

Lawyers

Hall of Fame

The lawyers at the very top of the profession, widely known and respected by peers and clients for their longstanding involvement in market-leading work.

Reiko Sakimura

Reiko Sakimura

Hall of fameClifford Chance LLP

Reiko Sakimura specialises in international capital markets, including international debt and equity offerings, convertible bonds and other equity-linked securities, medium term note programmes, euro-commercial paper programmes, samurai bonds, regulatory capital, and corporate hybrid securities. Reiko acts for underwriter and issuer clients in respect of a wide variety of capital market transactions for Japanese issuers accessing international markets through Regulation S and Rule 144A offerings, as well as foreign issuers accessing the Japanese markets.

Rising stars: Bengoshi

Leading individuals: Gaiben

Leng-Fong Lai

Leng-Fong Lai

Clifford Chance LLP

Leng-Fong Lai is the firm's Co-Managing Partner and the Head of Capital Markets Group in Tokyo and specialises in all forms of capital markets and structured finance instruments including receivables and other asset-backed securities, commercial mortgage-backed financings, structured MTNs, equity-linked and convertible securities, securities repackaging and other forms of securitised derivatives, hybrid securities, project bonds and other infrastructure financings. Leng-Fong also advises banks and sponsors on project and real estate finance and investments in Japan.

Practice head

The lawyer(s) leading their teams.

Leng-Fong Lai

Other key lawyers

Reiko Sakimura, Eiichi Kanda, Chihiro Ashizawa, Hajime Saito, Matthew Ball