Adeka Corporation: Acquisition of majority stake in Nihon Nohyaku Co., Ltd.
Leading Japanese law firm Nishimura & Asahi has advised Adeka Corporation (“Adeka”) [TSE: 4401] on its signing of a strategic alliance agreement and the contemplated acquisition of a 51% stake in Tokyo-based agrochemical manufacturer Nihon Nohyaku Co., Ltd. [TSE: 4997], via a friendly tender offer valued at JPY 10.850bn and a third-party allocation of new shares.
Adeka, founded in 1917 and headquartered in Tokyo, Japan, manufactures various chemical and food products, including epoxy resin, polyurethane and margarine.
The Nishimura & Asahi team advising Adeka was led by partners Yo Ota and Daisuke Matsubara.
People
Daisuke Matsubara is a partner at Nishimura & Asahi. His practice covers a wide range of areas such as M&A, shareholder meetings, corporate-related litigation, corporate governance, and general corporate matters. Based on a wealth of knowledge and experience in these areas, he excels in large-scale and/or highly-complicated M&A/corporate transactions. Among other matters, he represented Japan Airlines Co., Ltd. in their filing for corporate reorganization proceedings, Suntory Holdings Limited in their acquisition of Beam Inc. and Sharp Corporation in their third party allotment of shares to Hon Hai Precision Industry Co., Ltd. Recently, he has advised on a number of hostile takeover defense cases and shareholder activism cases. He represented Toshiba Machine Co., Ltd. (currently Shibaura Machine Co., Ltd.) in their introduction of contingency takeover defense measures (the first case in Japan) against an unsolicited TOB for their shares, Invesco Office J-REIT, Inc. in their defense against an unsolicited TOB for their investment units and Tokyo Kikai Seisakusho, Ltd. in their introduction of contingency takeover defense measures against a rapid increase of shares in the market.
Mr. Ota has a breadth of practical international and domestic legal experience, focusing on the areas of hostile takeovers, shareholder activism, M&A transactions (including cross-border deals), corporate governance and other corporate matters, domestic / international Tax, personal information / data protection, and works on a wide range of corporate legal affairs. He was selected as the NIKKEI "Most Successful Lawyers in 2022" in the corporate law category (1st), the NIKKEI "Most Successful Lawyers in 2021" in the corporate law (excl. M&A) category (2nd), and also the NIKKEI "Most Successful Lawyers in 2020" in the M&A category (1st) and the corporate law category (3rd). In addition, he dedicates himself to research and writing activities that bridge academia and practice on cutting-edge issues related to the Companies Act, the Financial Instruments and Exchange Act, tax law, the Act on the Protection of Personal Information, etc. He has edited and authored many books and papers, such as “Schemes and Tax Issues of M&A and Corporate Restructuring, 4th Ed.”, “Corpus Juris M&A - Completely Revised Edition (first volume) (second volume)”, “Handbook on Share Options (Fifth Edition)”, “Corpus Juris Series - Personal Information Protection Legislation (Global)”, “Handbook on Class Shares”, “Nuts and Shell of the 2019 Amendment of the Companies Act and Practical Response”, “Legal Issues and Practices of Virtual Shareholders’ Meeting”, etc.