Mori Hamada & Matsumoto (MHM) is one of Japan’s “Big 4” law firms. As a full-service law firm with headquarters in Tokyo, the root of the firm can be traced back to 1971 with the establishment of Mori Sogo. In December 2002, Mori Hamada & Matsumoto was established by the merger of Mori Sogo and Hamada & Matsumoto.
The firm now has more than 700 lawyers including 155 foreign lawyers in offices across major cities and regions such as Beijing, Shanghai and Singapore. The firm also offers broad local and international capability in ASEAN countries including Thailand (Chandler MHM), Myanmar (Myanmar Legal MHM), Vietnam (MHM Vietnam), and Indonesia (ATD Law in association with MHM). Apart from its Tokyo office, the firm also has branches in Osaka, Nagoya, Fukuoka and Takamatsu.
Focusses / specialisms
The firm is best known for almost all financial and corporate practices including banking and finance, capital markets, M&A, private equity and project development, often assisting domestic and overseas conglomerates, financial institutions and government organisations.
Key clients
Key clients of the firm include the Japanese Bankers Association (JBA), MUFG Bank, Sumitomo Mitsui Banking Corporation, Mizuho Bank, Mitsubishi UFJ Morgan Stanley, Daiwa Securities, SoftBank Group, KKR, SUMCO, Hitachi, NTT, Mitsubishi Motors, JERA Co. and Tokyo Gas Co.
Research period review: 33rd edition (2022/2023)
During the research period, the firm remains active across practice areas including banking and finance, capital markets, M&A, private equity and project development.
The firm’s banking and finance team was very busy advising clients in major transactions and related regulatory mandates on corporate loans, structured finance, real estate finance, acquisition finance and mezzanine finance. The firm was particularly active in transactions related to syndicated loan, LBO financing, real properties backed financing, project finance, sustainable finance and aviation finance and often advised both lenders and borrowers.
In capital markets, the firm kept busy with a number of debt offerings, including MTN programmes in the euro and Swiss franc markets and stand-alone issuances by Japanese and foreign issuers. In the
equity market, the firm was active in domestic and overseas IPOs, secondary share offerings and private placement of shares.
In the M&A and private equity areas, the firm was preoccupied in major domestic and cross-border mergers and acquisitions advising both buy and sell side. Active industry sectors include financial, high-tech, private equity, automobile, electronics, telecommunication, manufacturing and healthcare.
In the project space, the firm continues to lead transactions in energy sectors including offshore wind, biomass, photovoltaic, PFI/PPP/infrastructure, and represented several major utilities in domestic and foreign projects assisting sponsors, lenders and other stakeholders.
In 2022, the firm bolstered the team by hiring banking and finance partner Yuko Nihonmatsu, partner Mihoko Shima and senior counsel Hiroshi Maeda from Atsumi & Sakai.
Deal highlights: 33rd edition (2022/2023)
Japan Bank for International Cooperation’s issuance of €1 billion euro-denominated senior notes guaranteed by the government of Japan.
Japan Bank for International Cooperation’s issuance of $2.5 billion dollar-denominated senior notes guaranteed by the government of Japan.
KKR’s $4.63 billion take-private acquisition of Hitachi Transport System.
UBS Asset Management’s $2 billion sale of its stakes in Mitsubishi Corp-UBS Realty Inc. to KKR.
ENEOS Corporation’s $1.8 billion acquisition of Japan Renewable Energy.
Client feedback: 33rd edition (2022/2023)
Banking and finance
“They are extremely efficient in documentation and provided us with timely and appropriate advice (not merely delegating decisions to us but offering proper risk assessment and recommendations), which has been very helpful to us.”
“They have deep knowledge about syndicated loan documentation and arrangement.”
Capital markets
“Based on in-depth knowledge and experience, the firm provided appropriate advice in a timely manner.”
“Mori Hamada & Matsumoto's capital markets team has four leading partners. Each of them has their own strengths. As such, we as a client can select a partner or partners most suitable to a transaction.”
“Very strong local knowledge with pragmatic advice based on the latest status of our business.”
“Legal engineering related to trusts using advanced technology.”
“Strong team, depth of understanding of the product.”
“Courteous and client-focused advice.”
“They understand our business and characters pretty well so their response and advice is always quick and appropriate.”
Leveraged finance
“Quick response and response to many things.”
M&A
“Careful advice for those of us with little experience.”
“High-quality legal service, thinking about the client's situation.”
“The partner we deal with has been always hands-on. The partner understands all important facts and issues and can lead their associates properly. In addition, the partner tries to figure out how to achieve our company's goals, instead of thinking of obstacles to them.”
“Very high expertise, accuracy, quick response and proactivity.”
“Deep knowledge on regulations of renewable energy sector in Japan and quick and timely responses.”
“Problem-solving skills. Qualified advice.”
“Mori Hamada & Matsumoto, Japan provided us with various legal services with very high quality, not only the legal perspective but also considering business and practical perspective based on its deep understanding of our company group business.”
Project finance
“I received highly professional and situation-specific advice.”
“Offshore wind farming is at an early stage in Japan, MHM is developing the legal practice in the country.”
“Mori Hamada & Matsumoto demonstrated its strong performance from both legal and business perspectives. Particularly, its outstanding industry intelligence and engineering knowledge was essential to coordinate legal, commercial and technical issues. I was struck by MHM's down-to-earth advice, building its legal expertise on deep understanding about the project and offshore wind industry practice.
MHM stretched its capability to help us consider appropriate legal & technical risk allocation and explore new solutions to overcome economic turmoil after the Russian invasion. I highly appreciate MHM's moral and ethics, that the firm always seeks solutions to minimise our risks and to move the project forward.”
Project development
“They have strong expertise in Japanese renewable energy regulations.”
Investment funds
“Based on their extensive experience in the Japanese real estate transaction market and the local regulations, they provided detailed advice and English-translated documents for the relevant parties within a scheduled timeline.”
Akira Matsushita
“High-quality legal service.”
Hironobu Noma
“Mr. Noma played a leading role in the deal. He demonstrated strong leadership to push the project forward, taking complex and different interests of stakeholders into account. Leveraging significant legal, financial, commercial and technical knowledge, he helped us a lot by providing positive, creative and well-balanced advice. I found his in-depth understanding of the industry and the project was extraordinary. His professionalism, empathy and sense of humour are another thing which I would like to highlight. Mr. Noma is definitely the best lawyer with whom I have worked ever.”
Hiroki Aoyama
“HIs knowledge and experience of syndicated loans is excellent.”
“He has deep knowledge and a lot of experience of syndicated loan arrangement.”
Kenichi Sekiguchi
“Competent, hard-working, hands-on and keen to solve our problem.”
Katsumasa Suzuki
“Katsumasa can provide clear and precise advice and in addition to answering a question, he can raise other considerations relevant to the issue.”
Konosuke Seto
“Mr. Seto is the greatest contributor to the documentation. He leveraged his outstanding legal knowledge to make the project bankable.”
Masayuki Ishibashi
“Strong engagement/involvement as a partner lawyer.”
“He has extremely high expertise in trust, real estate, STO, DX, etc., and a high level of knowledge of domestic and foreign legal systems. In addition, he always consults me kindly and always adheres to the deadline. There is no better lawyer than him.”
Masahito Saeki
“Superior expertise, problem-solving skills and communication skills.”
“He understood the client’s request and situation well and provided practical solutions for each issue arising during our investment project.”
Masayuki Ishibashi
“Provides courteous and client-focused advice. Cooperative response and always meets deadline.”
Norihito Sato
“He communicates very carefully and frankly, so that I can ask advice and exchange opinions freely and in good time. I cannot imagine miscommunication with him.”
“Kind and precise advice to those of us who have little knowledge.”
Seijun Lee
“Quite high expertise, especially on tender offer and other schemes of M&A.”
Shigeki Okatani
“He has strong expertise in the Japanese renewable industry. He is accessible and easy to communicate with.”
“Excellent property (power plant) related knowledge and experience and able to provide thoughtful advice.”
Taro Omoto
“Always able to offer advice from the customer's point of view.”
“Knowledge and experience.”
“He has strong expertise in the Japanese REIT market.”
Takahiro Kobayashi
“Deep knowledge in the renewable energy sector in Japan and quick responses.”
Takeshi Okuyama
“He understands our business very well and is flexible on our ideas.”
Toshimitsu Nemoto
“Toshimitsu is approachable and provides us with his well-considered solutions. He has successfully expanded his territory which has become one of the revenue sources because we have more transactions. This is relatively new and requires higher risk management than a plain vanilla deal.”
“Mr. Nemoto has a good sense of balancing risk management and new initiatives. He does not give us his judgement just based on his past experience, but also trying new things while still considering aspects of legal risks. At the same time, he understands our business very well. He is a quick learner, and his advice is based on his deep understanding, which is very effective for our deal.”
Yuki Matsuda
“He is familiar with leveraged finance and has a lot of knowledge.”
