Sushiro TSE IPO

Value:

¥ 82.4 billion

Dollar value:

$ 730 million

Status:

Announced

Date:

18/4/2017

Overview:

Sushiro Global Holdings—who run Japan's biggest chain of conveyor-belt sushi restaurants—has raised ¥82.4 billion ($730 million) in an IPO on the Tokyo Stock Exchange (TSE).
Sushiro was previously bought by European buyout firm Permira in 2012 from Tokyo-based private equity firm Unison Capital for ¥80 billion.
In the interim, Permira boosted the value of Sushiro by cutting costs and capitalising on its global network to reduce spending on fresh tuna.

Adam Majeed - Regional editor

Jurisdiction:

Japan

Deal type:

IPO

Practice area:

Capital markets : Equity

Industry sector:

Food and beverage

Firms:

Anderson Mori & Tomotsune

Party: Nomura Securities (Joint global coordinator)

Party: UBS (Joint global coordinator)

Party: Mizuho Bank (Underwriter)

Party: Mitsubishi UFJ Morgan Stanley Securities (Joint global coordinator)

Party: SMBC (Underwriter)

Party: Daiwa (Underwriter)

Party: Merrill Lynch Japan Securities (Underwriter)

Party: IwaiCosmo Securities (Underwriter)

Party: Monex (Underwriter)

Party: SBI Securities (Underwriter)

Party: Marusan (Underwriter)

Party: Matsui (Underwriter)

Party: SMBC Friend (Underwriter)

Party: Tokai Tokyo (Underwriter)

Davis Polk & Wardwell

Party: Sushiro Global Holdings (Issuer)

Nagashima Ohno & Tsunematsu