Davis Polk & Wardwell and Nagashima Ohno & Tsunematsu have represented Sushiro Global Holdings on its $615 million initial public offering on the Tokyo Stock Exchange, serving as U.S. and Japan counsel, respectively.
Meanwhile, Simpson Thacher & Bartlett and Anderson Mori & Tomotsune acted for the IPO’s underwriters, led by joint global coordinators Nomura Securities, Morgan Stanley and UBS.
Sushiro runs Japan’s largest chain of conveyor-belt sushi restaurants and was purchased by European buyout firm Permira in 2012 from Tokyo-based private equity firm Unison Capital for around 80 billion yen. Since then, Permira boosted the value of Sushiro by slashing costs and capitalising on its global network to reduce spending on fresh tuna, reported Reuters.
Partner Alan Cannon led the STB team.