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    ITOCHU Corporation - Acquisition of shares in ITOCHU Techno-Solutions Corporation

Leading Japanese law firm Nishimura & Asahi advised ITOCHU Corporation [TSE: 8001] on its subsidiary, Digital Value Chain Partners GK, taking-private ITOCHU Techno-Solutions Corporation [TSE: 4739], by way of a tender offer, followed by a reverse stock split.

The Nishimura & Asahi team advising ITOCHU Corporation was led by partners Asa Shinkawa, Takuya Matsuo and Satoru Yoshikawa of our corporate/M&A practices, and Junko Wakabayashi of our antitrust practice.


新川 麻


  • Partner
  • Tokyo

Asa Shinkawa has been a partner in the M&A/corporate group at Nishimura & Asahi since 2001. She has a long and successful history of advising Japanese and international corporations and private equity firms. Ms. Shinkawa has advised on mergers and acquisitions, tender offers, cross border transactions, domestic acquisitions and divestitures and going private transactions, restructurings and spin offs, joint ventures, and numerous other kinds of transactions and commercial arrangements. Ms. Shinkawa has been recognized as one of the world's leading lawyers in the field of Corporate/Mergers and Acquisitions in Chambers Global - The World's Leading Lawyers for Business, since 2009, and is ranked as one of the top practitioners in Japan in the field of Corporate/M&A. She was awarded "Dealmaker of the Year" at the ALB Japan Law Awards 2022,  "Dealmaker of the Year, North Asia" at the ALB Women in Law Awards 2021 and "Woman Lawyer of the Year" at the ALB Japan Law Awards 2020, "M&A Deal of the Year” at the IFLR Asia-Pacific Awards 2022, "Private Equity Deal of the Year” at The Asia Legal Awards 2021 and "Legal Expertise: Creating a New Standard” at the Financial Times Asia-Pacific Innovative Lawyer Awards 2019, and has received many other accolades. In addition, she has advised on M&A transactions and integrations/business combinations between public corporations in which merger control considerations were a critical prerequisite for the consummation of the transactions. Ms. Shinkawa has also advised extensively on the application of antitrust law in relation to joint ventures, business alliances and other types of cooperative arrangements between competitors, sole-distributorship arrangements, distribution agreements, dealer agreements and license arrangements. She was engaged in the reform of the electricity system in Japan, as an expert member of governmental committees under the Electricity and Gas Market Surveillance Commission  and various committees of the Advisory committees for Natural resourse and Energy of the METI from 2015 to 2021.

若林 順子

Junko Wakabayashi specializes in antitrust and competition law. She has extensive experience with various antitrust matters and issues, including merger filings, cartels, transactional matters, and compliance, in both domestic and cross-border cases. She regularly engages with global clients and negotiates with competition authorities on their behalf. Due to her prior experience at the Ministry Land, Infrastructure, Transport, and Tourism, where she engaged in policy and rule making, as well as operations, and built a network of connections in government offices, Junko has a deep knowledge and understanding of regulations and government affairs, particularly those that impact transportation industries (e.g., aviation, automotive). She was seconded to a major energy company, where she acquired familiarity with the energy industry. Her wide range of experience enables her to provide precise, tailored advice that accurately addresses and responds to each client’s needs and business operations.

吉川 悟

Satoru has been engaged in M&A transactions, business alliance/collaboration deals including cross-border transactions since 2010. Also, Satoru was seconded to a legal department and a new business office of listed companies in Japan for 4 years in total, and he dealt with many transactions, such as investment and business alliance/collaboration from the sourcing of the transactions through to the negotiation of the agreement, implementation of the necessary procedures and PMI, and assessing the alliance effect after the closing. Based on this experience, Satoru provides multifaceted legal advice in a timely and flexible manner in accordance with the size and nature of the individual transaction.