Amid the Japanese government’s tireless efforts to jumpstart the economy, the country’s law firms have begun to strengthen their presence around the world. This trend has been happening as foreign direct investment (FDI) pours into the country and Japanese companies seek more investment opportunities abroad.
Heading the charge towards this direction are Japan’s largest law firms, such as Mori, Hamada & Matsumoto (MHM), Nishimura & Asahi, Anderson, Mori & Tomotsune (AMT), Atsumi & Sakai and Nagashima Ohno & Tsunematsu (NO&T).
Mori, Hamada & Matsumoto was formed in 2002 at a time of dramatic economic changes. Around the world, corporate giants were forming mergers and local businesses were being bought, deals that needed the expert advise of lawyers knowledgeable of laws in different countries.
MHM nurtured its strength in international practice, having assisted several Japanese and foreign companies in finding available funds and growing their businesses abroad. It guarantees that its advice is based on the latest information on the business and legal landscape.
“One unique element we have is that we give advice after concentrated internal discussions and analysis and, based on that, come up with the best client-specific solutions and proposals,” says Partner Toru Ishiguro.
Another strength of MHM is tax advisory services. As more Japanese businesses deal with proposals for strategic acquisitions or foreign participation, tax matters will inevitably come into play.
“From a client’s perspective, it is better to have a one-stop shop for all areas of transaction,” says Ishiguro.
Atsumi & Sakai, also a full-service firm whose expertise is in financial and corporate law, has widened its scope of expertise to include information technology and innovation for them to expand their client base.
With several offices overseas, including those in London and Frankfurt, Atsumi & Sakai caters to Japanese companies expanding abroad, as well as foreign companies wanting to enter Japan. And through a joint venture, Tricor, it also provides office and administrative services to employees in English.
Atsumi & Sakai supports mainly companies wanting to do business in the United States and the EU, seeing more opportunities there. Its organizational set up provides more transparency and its partners include expats and women in top positions, a rarity in Japan.
“Our motto is ‘A compass to guide your ways’. We spend a lot of time to learn the rules so we can better assist companies in establishing themselves locally and internationally,” Managing Partner Hiroo Atsumi says.
Fully formed in 2007, Nishimura & Asahi has offices in Japan and across Asia and is planning to open another in Dubai. The firm has maintained its independent status, which means it is not affiliated with any international firm. But, it has fostered close ties with many firms abroad.
A large majority of its clientele is Japanese, a reflection of its expansion and in anticipation of a growth in Japanese companies investing overseas. Nishimura & Asahi believes the Middle East is the next step for Japanese companies after Southeast Asia.
“Japanese companies won’t get that faraway feeling and we will be able to get information and learn the legal atmosphere directly and more easily expand networks,” says Managing Partner Masaki Hosaka.
Meanwhile, Anderson, Mori & Tomotsune has different origins from its Japanese counterparts. The firm was set up in the 1950s by two American lawyers dedicated to helping foreign companies coming to Japan. Following the post-war rebuilding, it catered mostly to Japanese companies expanding abroad.
AMT’s strategy is to increase its international presence by assisting Japanese businesses abroad or those seeking overseas operations. Having American founders meant that the firm had already strong relationships and networks with Western firms.
For Partners Akihito Nakamachi and Hiroshi Ishihara: “Helping foreign clients into Japan and grow their business has been the firm’s bread and butter since it
began. And with the country’s aging population, Japan will be an important ‘lab’ for these new services because the same thing is going to happen everywhere. We hope this will create new opportunities for lawyers.”
For Nagashima Ohno & Tsunematsu (NO&T), the first integrated full service law firm in Japan, its strength lies in strong teamwork across its domestic and international offices in Asia and the U.S. NO&T also has a deep bench of tax experts, a clear asset for businesses in Japan.
NO&T maintains strong relationships and networks with its “friends” in different parts of the globe, also in places where it has no branchoffices. These strong bonds allow the firm to provide better and well-rounded services to all of its clients, mainly Japanese companies.
“We have many friends in various jurisdictions. We refer our clients to them and they know our capabilities so they recommend clients to us too. It goes both ways and that’s the usual way to obtain clients,” says Managing Partner Fumihide Sugimoto.
