Simpson Thacher Represents Int’l Managers in ¥1.4T (US$11.6B) Concurrent IPOs of Japan Post

Simpson Thacher recently represented the international joint lead managers, Goldman Sachs International, J.P. Morgan Securities plc, Morgan Stanley & Co. International plc and Nomura International plc, in connection with the initial public offerings of Japan Post Holdings Co., Ltd. (“JP Holdings”) and subsidiaries Japan Post Bank Co., Ltd. (“JP Bank”) and Japan Post Insurance Co., Ltd. (“JP Insurance”) on the Tokyo Stock Exchange. Each IPO included international offerings to institutional investors in reliance on Rule 144A and Regulation S. The combined ¥1.4 trillion (approximately US$11.6 billion) offering was the largest initial public offering globally to date this year.

JP Holdings is a holding company principally engaged in offering mail and parcel, banking and life insurance services through its principal operating subsidiaries: Japan Post Co., Ltd., JP Bank and JP Insurance. Prior to the offering, JP Holdings was wholly owned by the Japanese government.

JP Bank is one of the largest financial institutions in Japan, offering financial services primarily for retail customers in Japan through an extensive nationwide network of post offices operated or contracted by JP Post.

JP Insurance is the largest life insurance company in Japan, offering a range of life insurance products, with a focus on individual life insurance, such as endowment insurance and whole life insurance and annuity products.

The Simpson Thacher team for the transaction included Alan Cannon, Nirav Mehta, Jonathan Stradling and Yui Hirohashi (Corporate – Tokyo); Jonathan Cantor and Jordan Tamchin (Tax – New York); and Jennie Getsin (Blue Sky – New York).

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