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A member of rail staff waits for the arrival of a subway train at Shibuya station in Tokyo, Japan, July 21, 2021. REUTERS/Kai Pfaffenbach

 

Nagashima Ohno & Tsunematsu and Simpson Thacher & Bartlett have advised Tokyo Metro on its 348.6 billion yen ($2.3 billion) initial public offering, Japan's largest in six years.

Anderson Mori & Tomotsune and Davis Polk & Wardwell have represented the international managers.

Reuters reported that Tokyo Metro, one of the Japanese capital's two major subway operators, operates nine subway lines and carried an average of 6.5 million passengers daily during the last fiscal year.

It added that the IPO is Japan’s largest since SoftBank Group listed its telecoms unit in late 2018 for $21 billion.

 

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