M&A

We have one of the largest teams in Japan to offer sophisticated advisory services. By drawing on our abundant track record and expertise, we offer advice in developing M&A, business alliances, and capital participation strategies, in addition to group/industry restructurings, management buyouts and distressed securities.
Our coverage is divided as follows to provide industry focused advice:
- - Electronics/Machinery/Heavy industries/Transportation equipment/ Telecommunications
- - Foods/Restaurants/Apparel/Services/Retail/IT
- - Financials/Construction/Real estate/Transportation and Logistics
- - Chemicals/Pharmaceuticals/Materials
We conduct our M&A advisory service in the following area. In April 2007, we executed a capital and business alliance with Sagent Advisors Inc., the independent U.S. investment bank. In July 2009, we acquired Close Brothers Corporate Finance, the European M&A advisory firm, and rebranded as DC Advisory Partners in May 2010. We will further strengthen our organization to provide solutions for cross-border M&A transactions.

Other Services Relating to M&As
Takeover Defense Measures
Although there are various take-over defense measures available, the effectiveness, necessary legal procedure and shareholder responses vary depending on the method employed.
We will propose appropriate methods given the prevailing market conditions by drawing on our track record of deal flows in Japan and knowledge of investor needs as well as of the existing Japanese legal framework.
Furthermore, we have a vast amount of experience in assisting takeover defense.
On MBO
Management buyout (MBO) is the practice of delisting shares from the standpoint of corporate strategy/business management. MBO is typically conducted when management pursues management strategy by completely removing the risk of a hostile takeover. This could be due to a temporary deterioration in earnings or depressed share prices brought about by major changes being made in corporate strategies, etc.
As the financial adviser, we provide full support in formulating the strategy best suited to the client from a specialist perspective. That includes explanations with regard to the strategic significance of MBO and matters to be born in mind with respect to the legal framework, the examination of specific communications to the shareholders and the stock market, financial modeling/simulation, as well as the establishment of the overall scheme.