Shidax Corporation - Sale of stake in Shidax Community Corporation and issuance of preferred stock
Leading Japanese law firm Nishimura & Asahi has advised Shidax Corporation [4837] (“Shidax”) on the sale of an 81% stake in Shidax Community Corporation (“Shidax Community”), its Japan-based business that operates large-scale entertainment restaurants and karaoke boxes, to B&V Corporation (“B&V”), a karaoke box, net cafe and fitness center operator. Shidax also agreed to accept a preferred stock investment of 5 billion yen from a fund that the Development Bank of Japan is in charge of as general partner.
The transaction will allow Shidax and B&V to strengthen their respective restaurant and karaoke businesses. Shidax Community’s turnover for the year ended 31 March 2018 was JPY 18.21bn (USD 171.19m).
The Nishimura & Asahi team advising Shidax was led by partners Kohei Koikawa and Takuya Matsuo.
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He has an extensive track record representing issuers, managers, and selling shareholders in various capital market transactions, including global IPOs, global follow-on offerings, convertible bond offerings, debt offerings, private investments in public companies (PIPEs), and J-REIT offerings. He has also been active in finance transactions by venture companies.