FA: Financial Advisor LA: Legal Advisor
JAPAN TOP 10 M&A DEALS
July 2015 - June 2016
DATE DEAL VALUE
USD
(MILLIONS)TARGET
COMPANYDEAL
DOMINANT
INDUSTRYBIDDER BIDDER
ADVISORSSELLER SELLER
ADVISORS17/03/2016 5 916 Toshiba Medical
SystemsMedical Canon FA: Morgan Stanley
LA: Mori Hamada & MatsumotoToshiba Corpo-
rationFA: Nomura Holdings
LA: Blake, Cassels & Graydon;
Nishimura & Asahi29/09/2015 5 000Natural American
Spirit (ex-US
business)Consumer Japan TobaccoLA: Freshfields Bruckhaus
Deringer; PwC legalReynolds Ame-
ricanFA: Citi; JPMorgan; Lazard
LA: Jones Day28/09/2015 4 839 USJ Co (51% stake) LeisureNBC Universal
MediaLA: Clifford Chance; Davis Polk
& WardwellGS Capital
Partners; MBK
Partners; Owl
Creek Asset
Management; P
Capital; Glenn
GumpelFA: Goldman Sachs
LA: Freshfields Bruckhaus
Deringer; Mori Hamada &
Matsumoto; Nagashima Ohno
& Tsunematsu; Sidley Austin;
Skadden Arps Slate Meagher
& Flom15/12/2015 4 773General Electric
Company (Leasing
Business in Japan)Financial
ServicesSumitomo Mitsui
Finance and
LeasingFA: Goldman Sachs; Sumitomo
Mitsui Financial Group
LA: Baker & McKenzieGeneral Electric
CompanyFA: J.P.Morgan; Morgan
Stanley
LA: Nagashima Ohno &
Tsunematsu15/10/2015 3 889 UNY Group
HoldingsConsumer:
RetailFamilyMartFA: Citi; KPMG; Sumitomo
Mitsui Financial Group
LA: Mori Hamada & MatsumotoUNY Group
HoldingsFA: Morgan Stanley; Nomura
Holdings
LA: Jones Day; TMI Associates17/09/2015 3 560Suzuki Motor
Corporation (19.9%
stake)AutomotiveSuzuki Motor
CorporationFA: Mizuho Financial Group;
Nomura Holdings Volkswagen FA: Goldman Sachs; Rothschild29/01/2016 3 259Daihatsu Motor Cor-
poration (48.81%
stake)Automotive Toyota Motor
CorporationFA: Nomura Holdings
LA: Shearman & Sterling; TMI
AssociatesDaihatsu Motor
CompanyFA: Sumitomo Mitsui Financial
Group
LA: Mori Hamada & Matsumoto13/05/2016 2 981Nisshin Steel
(42.78% stake)Industrial
products and
servicesNippon Steel &
Sumitomo Metal
CorporationFA: Nomura Holdings
LA: Nishimura & Asahi; Sulli-
van & CromwellNisshin SteelFA: Mizuho Financial Group;
Morgan Stanley
LA: Nomura & Partners06/11/2015 2 743Mitsui Life Insu-
ranceFinancial
ServicesNippon Life Insu-
rance CompanyFA: Citi; Morgan Stanley; Sumi-
tomo Mitsui Financial Group
LA: Nagashima Ohno &
TsunematsuMitsui & Co;
Sumitomo Mitsui
Trust Bank; Me-
talmark Capital;
Sumitomo Mitsui
Banking Corpo-
ration; Mitsui
Fudosan; Citibank
Singapore; Mitsui
Sumitomo Insu-
rance; Daiwa PI
Partners; Nomura
Financial PartnersFA: Daiwa Securities Group;
Nomura Holdings
LA: Allens; Mori Hamada &
Matsumoto30/03/2016 2 542 Sharp Corporation
(66% stake)ConsumerHon Hai Precision
Industry; Foxconn
Technology; SIO
International
HoldingsFA: J.P. Morgan
LA: Baker & McKenzieSharp CorporationFA: Morgan Stanley
LA: Nishimura & Asahi