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The Firm recently represented Mitsui Trust Holdings, Inc. and The Resolution and Collection Corporation of Japan (RCC), a subsidiary of The Deposit Insurance Corporation of Japan and a government agency, in the RCC’s sale of 80,930,000 shares of common stock of Mitsui Trust Holdings. The offering included a public offering in Japan and offerings to institutional investors in Europe and the United States under Regulation S and Rule 144A. The RCC received gross proceeds of ¥97.9 billion, or approximately $850 million, in the offering.

The RCC converted a portion of its preferred stock in Mitsui Trust Holdings into common stock and sold that common stock in the global secondary offering. Following similar offerings by the RCC of the common stock of The Bank of Yokohama in July 2004 and the common stock of Mitsubishi UFJ Financial Group, Inc. in June 2006, the Mitsui Trust Holdings offering marks the third time that the RCC has obtained repayment of public funds provided to a Japanese financial institution through a secondary offering to the public.

The Simpson Thacher attorneys who worked on the transaction include David Sneider, Alan Cannon, Robert Laplante and Mohan Nadig in Tokyo and Hallie Grainer in New York.