Japan Display Inc. - Capital alliance with Ichigo Trust and refinancing of debt with INCJ, Ltd.
Leading Japanese law firm Nishimura & Asahi has advised Japan Display Inc. (“JDI”) [TSE: 6740], a leading manufacturer of small- and medium-sized display devices, on (i) its capital raising from Ichigo Trust (“Ichigo”), a Japanese investment management company, of a maximum of JPY 100.8 billion (approx. USD 900 million) through third-party allotment of class shares to Ichigo, and (ii) the refinancing of existing debt of approx. JPY 200 billion (approx. USD 1.8 billion) with INCJ, Ltd., a Japanese public-private investment fund. Through these transactions, JDI will increase its stated capital by a maximum of approx. JPY 200 billion (approx. USD 1.8 billion).
The Nishimura & Asahi team advising JDI is led by partners Yuki Oi and Yusuke Motoyanagi.
People
Yusuke has a wealth of experience in the areas of capital raising by corporations, the formation of investment funds, and investments in investment funds, in transactions of all sizes, both domestically and internationally. In the field of capital raising, he has an extensive and excellent track record in the issuance of shares by financially distressed listed companies. In regard to fund formation and fund investment, he is constantly involved in numerous transactions, and advises not only on the legal aspects of those transactions, but also on market standards. He also provides advice on a wide range of financial regulations, including those in new fields such as fintech. His advice includes providing guidance on registering or filing notifications required for conducting finance-related business, analyzing new finance-related businesses, and establishing/reviewing the internal compliance rules/systems of his clients. Recently, he has become more involved in blockchain- and token-related matters, including not only those in the finance sector, such as fundraising by issuing crypto assets, listing crypto assets on domestic and foreign exchanges, and other crypto asset-related transactions, but also those in areas outside the finance sector.
Yuki Oi is a partner in our M&A/Corporate practice group. He advises domestic and international corporations and financial institutions on their cross-border and domestic M&A transactions. He also handles corporate governance matters and general corporate issues, as well as corporate crisis management matters and commercial litigation.
Some of the major cases he has advised on include representing UFJ Holdings on its integration with Mitsubishi Tokyo Financial Group (2006), Bulldog Sauce on its famous defense against a hostile takeover attempt initiated by Steel Partners (2007), the Osaka Securities Exchange on its integration with the Tokyo Stock Exchange (2011), Idemitsu Kosan on its integration with Showa Shell Sekiyu (2015-19), Toshiba on its divestiture of Toshiba Memory Corporation (2018), and Honda on its strategic alliance with Sony Group in mobility sector (2022).
He was awarded the Young Lawyer of the Year Award at the ALB Japan Law Awards 2019, and the Innovative Practitioners Award at the FT Innovative Lawyers Awards Asia-Pacific 2020. He was also selected as one of Asia’s top 40 lawyers under 40 by Asian Legal Business in 2017.
He has also served as a lecturer at the University of Tokyo, Faculty of Law (2012-13), and Graduate Schools for Law and Politics (2014-present).