Atsumi & Sakai
Atsumi & Sakai was formed in 1994 as Atsumi & Usui before adopting its current name in 2010 following the acquisition of a practice group from TMI Associates. The firm has close to 150 lawyers and offices in Tokyo, London and Frankfurt. It was the first Japanese law firm to register as a joint venture between Japanese and foreign lawyers in 2005, and in 2013 it formed a joint venture with the German law practice of Markus Janssen. In 2021, the firm launched an affiliate office in New York, Atsumi & Sakai New York.
Focusses / specialisms
The firm is best known for its structured finance and securitization work, but also has a strong project development and finance practice.
Key clients
Key clients of the firm include Anchor Ship Partners Co., Oasis Management Company, Rays Company (Hong Kong), Yamato Industry, Mitsubishi Research Institute (MRI), the Japan Research Institute and EY Strategy and Consulting.
Research period review: 33rd edition (2022/2023)
During the research cycle, the firm was active in banking, capital markets, M&A and project development sectors.
The firm’s banking team was busy assisting clients in energy, banking, government bodies, financial services, fintech, tech, shipping, aviation and real estate. The firm has bolstered its banking team by hiring partner Daniel Jarrett from Ashurst, partner Nobuhiko Shimose from Mori Hamada & Matsumoto, and of counsel David Tan from Eversheds Sutherland.
In the capital markets, the firm advises originators, arrangers, trustees and institutional investors on issues relating to structuring, regulatory issues and formation of SPACs. The firm also advised on securitizations of monetary receivables, covered bonds, CAT bonds as well as structuring and documentation of all kinds of derivative instruments. Partner Madoka Hashimoto joined the capital market team from King & Wood Mallesons.
In the M&A sector, the firm continued to be active in advising on complex cross-border and domestic mergers and acquisitions including public and private acquisitions and real estate acquisitions.
In the project space, the team was active representing clients in the project financing of domestic and overseas projects including thermal, solar, onshore and offshore wind, hydro, geothermal, biomass and nuclear project generation as well as Infrastructure development, natural resource development, and plant construction. Apart from project finance, the firm was also involved in public-private partnership (PPP) and private finance initiative (PFI) businesses.
Deal highlights: 33rd edition (2022/2023)
Anchor Ship Partners Co.’s $562 million structured ship financing.
The Rays Company (Hong Kong)’s ¥31.2 billion tender offer to acquire Raysum Co.
The development of the site for the 20th Asian Games, Aichi-Nagoya 2026.
Client feedback: 33rd edition (2022/2023)
Project development
“They worked professionally and provided useful suggestions.”
“They are very diligent and responsive as well as solution-orientated.”
“Very knowledgeable, helpful and responsive.”
Project finance
“They are very responsive and solution-orientated with in-depth knowledge.”
Mayumi Hongo
“She worked diligently.”
Takafumi Uematsu
“He is a very good lawyer, solution-orientated with in-depth knowledge.”
“He is a really good listener and solution-orientated, providing sophisticated advice with a deep knowledge.”
“Great knowledge, very helpful and responsive.”
City-Yuwa Partners
City-Yuwa Partners was formed in 2003 as a result of a merger between Yuwa Partners and the law department of Tokyo City Law & Tax Partners. The firm is a full-service law firm based in Tokyo with a composition of 123 lawyers.
Focusses / specialisms
The firm originally specialised in litigation, insolvency and real estate law but has since grown further to offer transactional services across capital markets, banking, investment funds and project development.
Research period review: 33rd edition (2022/2023)
During the research period, the firm was very active handling transactions in the banking, project finance and project development sectors.
The firm’s banking team kept busy providing legal advice to Japanese mega banks, trust banks, regional banks, international banks, securities firms and finance companies as well as structured finance related to real estate, securitization of various assets including receivables, trade finance and property loans.
In the project space, the firm was occupied by advising project finance for renewable energy projects and LBO financing. Apart from that, the firm was also busy advising on offshore wind projects.
Client feedback: 33rd edition (2022/2023)
Asset finance
“They are very professional and very thorough in their work.”
“Responsive, technically sound, friendly.”
Project Development
“City Yuwa offers effective and flexible legal services, coupled with an international perspective and extensive experience in cross-border transactions. Their team is highly skilled and committed to self-development, providing exceptional services to clients. They also possess advanced communication skills, making it easy for them to interact with various parties, including our bank's customers, while delivering detailed and convenient legal solutions.”
Project finance
“Competent, reliable and prompt service.”
“Fast, efficient and reliable.”
Reiko Yoshida
“She is swift in her replies and is a true professional. She is thorough with her work and is a joy to work with.”
“Responsive, technically sound, friendly.”
Masamichi Sakamoto
“Mr. Sakamoto has primarily been involved through our bank's financing transactions, and we have been highly impressed with him in several aspects. Firstly, he provides accurate legal knowledge and insight, and makes appropriate decisions on the direction of legal services for our bank. Additionally, with his extensive legal support experience, he is able to provide innovative, advanced and flexible legal support to his clients. He has also been able to convey effectively our bank's requirements into loan and financial documents, even with difficulties in converging on existing structures and contractual clauses. In addition to supporting his clients, Mr. Sakamoto has been an excellent leader within his organization, demonstrating effective coordination and collaboration internally among his office. He provides gentle and effective guidance to associate lawyers in the firm and has a wide network of connections both in Japan and overseas, allowing him to introduce appropriate collaboration offices and/or lawyers on a case-by-case basis. Moreover, Mr. Sakamoto has remarkable time-management skills for prompt response to meet our bank's requirements, even within limited timelines. He completes tasks in a timely manner, ensuring that everything is completed before the financial closing, regardless of any obstacles or problems he encounters.”
“Prompt reply and open discussions, making feedback possible.”
“Fast and reliable feedback. In situations where he is not a specialist, he will promptly delegate the task to the right legal adviser in his team.”
Yusuke Sugihara
“Mr. Sugihara's involvement in our bank's financing transactions is similar to that of Mr. Sakamoto. He collaborates with the team to improve the organisation and compatibility of the firm. His role is to provide effective advice on the interpretation of various laws, regulations, government ordinances and other legal provisions that are directly or indirectly related to our transactions. In addition, Mr. Sugihara is responsible for ensuring that the loan documents contain appropriate legal terms and wording that align with the credit conditions negotiated with our counterparties. He works closely with associate lawyers to enhance their experience and capabilities, thus improving their compatibility within the firm.”
