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Tokyo Metro Co., Ltd. Completes ¥348.6 Billion Initial Public Offering

10.29.24

Simpson Thacher recently represented Tokyo Metro Co., Ltd. in connection with its ¥348.6 billion (approximately US$2.3 billion) initial public offering of shares, including an international offering to institutional investors outside Japan pursuant to Rule 144A and Regulation S under the Securities Act. This is the largest IPO in Japan since 2018. All of the shares in the international offering were sold by the selling shareholders, the Minister of Finance of Japan and the Tokyo Metropolitan Government.

Tokyo Metro Co., Ltd. is one of the largest passenger railway companies in Japan that operates a core part of the railway network in Tokyo, Japan, one of the largest economic centers of the world.

The international joint lead managers for the international offering were Goldman Sachs International, Mizuho International plc, Nomura International plc and Merrill Lynch International.

The Simpson Thacher team included Taki Saito and Yuriko Miyasaka (Capital Markets); Jeanne Annarumma (Executive Compensation and Employee Benefits); and Jonathan Cantor and Lina Pan (Tax).