IFLR 1000
The Guide to the World's Leading Financial Law Firms

Jones Day advised Amber Energy on its public offering and share placing on the main board of the Hong Kong Stock Exchange. The firm also advised joint underwriters Morgan Stanley, Credit Suisse and CCB International in China Shanshui Cement Group's $269 million Hong Kong IPO.

Jones Day advised Citic International Financial Holdings (subsidiary of Citic Group) in its $1.5 billion sale of a further stake to Spanish bank BBVA by scheme arrangement.

Jones Day leading insolvency litigator Simon Powell is a market favourite. "He's meticulous and a great negotiator," says one client.

Jones Day is eager to raise its profile in the Japanese finance market. This year it experienced a surge of growth by poaching two leading specialists: David Deck from Baker & McKenzie and Kaoru Umino from JPMorgan Securities Japan. In addition, the team brought in more reinforcements with the hire of an associate from noted local finance firm Atsumi & Partners. Commentators have noted this expansion and say it is one to watch in the near future, with its deeper bench and commitment to the market.

Jones Day retains a respectable standing in a fiercely competitive M&A space in Tokyo. It boasts strong capacities in local and foreign law, which clients appreciate. "They have a lot of experience in the M&A market, provide high quality service and advice, and have prompt reactions to our requests," says one financial client of the firm.

The corporate team, led by Nobutoshi Yamanouchi, has undergone a wave of expansion this year with the hiring of 12 new associates and two senior finance partners. David Deck joins from Baker & McKenzie and Kaoru Umino who was formerly an associate general counsel at JPMorgan Securities.

This boost demonstrates the firm's strategy to gain a bigger market share of outbound public and private work. A recently highlight for the team had it advising Schott AG-Moritex, acting through its holding vehicle Schott Nippon Holdings, in acquiring a controlling interest in Moritex Corporation through a tender offer.

Partner Toru Yamada wins praise from a client: "Yamada sensei is experienced and has a profound knowledge of the law. He has a deep insight on clients' needs and is always quick to respond to their requests. He never fails to provide excellent and correct advice despite time constraints."

"Jones Day's service quality impressed in response times, business knowledge, appropriateness of advice and strength-in-depth of its team. Their fees may be higher than its peers but is worth it," a client comments.

Traditionally known for solid expertise in corporate and M&A advice, the firm has also given strong performances in capital markets and financing deals, with talents such as William Bryson, Chung-Ping Liu, and Raymond Wang recommended as client's favourite counsels.

This year saw several local companies hire the firm on their Taiwanese IPOs, such as Neo Solar Power's NT$155 million ($4.7 million) offering and CSBC Corporation's IPO that raised NT$4.8 billion ($146.4 million) at the end of 2008. Recently, Chung-Ping Liu led the teams that assisted two offshore companies in the winery and plastics industries on their proposed Taiwanese IPOs. "They provided good explanations with details for each item in the market," says a client.

Teaming up with William Bryson, Liu is also working for a US private-equity fund in connection with its participation loan to a local asset management company for the purchase of NT$1.5 billion ($45.8 million) in non-performing loans (NPL). In January 2009 Capmark Financial Group retained the two partners to advise on the disposal of its $70 million remaining NPL and real-estate portfolios.

In another lending deal, the team is acting for a Hong Kong mining company on the Rmb260 million ($35 million) loan facility for the onshore and offshore coal purchase of its coal blending business in China.

Clients turn to the firm's M&A advice for its "high level of expertise in financial regulatory environment and foreign investment procedures", adding: "They have an excellent M&A deal team."

This year's deal list exhibited the region's most high-profile and sizeable transactions. Examples come with Fubon Financial Holding's $600 million acquisition of ING Group's Taiwan life insurance unit, where department head Jack Huang acted for the buyer. Micron Technology employed the firm on transactions including the establishment of a joint venture for MeiYa Technology with NanYa Technology Corporation and Qimonda's acquisition of a $400 million, 36.5% stake in Inotera Memories.

Again retained in the technology sector, the firm provided advice on Lite-On Technology Corporation's sale and transfer of its cathode ray tube and liquid-crystal display monitor division to Wistron, worth $300 million.

In the banking sector, Jones Day advised Shinsei Bank on its $280 million takeover of Jih Sun Financial Holdings, jointly acquired through its joint venture with Capital Target. HSBC is also consulting the firm on the asset purchases from Chinese Commercial Bank.