Simpson Thacher & Bartlett and Mori Hamada & Matsumoto have advised Japanese restaurant operator Skylark Co on its 75.3 billion yen ($698 million) initial public offering on the Tokyo Stock Exchange, while Sullivan & Cromwell and Anderson Mori & Tomotsune represented the international joint lead managers.

All of the shares in Skylark’s IPO, which debuted on Oct. 9, were sold by funds affiliated with private equity firm Bain Capital. The sale meant the firm, which bought Skylark in 2010, reduced its holding to around 66 percent, taking into account an overallotment option.

Tokyo partner Takahiro Saito led the Simpson Thacher team that advised Skylark on its IPO, while Mori Hamada acted as Japanese counsel to Skylark and Bain Capital.

A Sullivan & Cromwell team led by Tokyo partner Izumi Akai advised the international joint lead managers on the offering – Morgan Stanley, Nomura International, Merrill Lynch International, Goldman Sachs International, J.P. Morgan Securities and Mizuho International.

Anderson Mori acted as Japanese counsel to the banks.

Skylark expects a net profit of 12.9 billion yen on revenue of 337.9 billion yen for the current fiscal year.