Cases

Nippon Life: Conversion of Nissay Asset to wholly-owned subsidiary

Leading Japanese law firm Nishimura & Asahi has advised Nippon Life Insurance Company (“Nippon Life”) on its agreement with Putnam Investments (“Putnam”), a U.S. asset management subsidiary of Power Financial Corporation of Canada, to unwind cross shareholdings in Nissay Asset Management Corporation (“Nissay Asset”) and PanAgora Asset Management, Inc. (“PanAgora”). This will result in Nissay Asset and PanAgora becoming wholly-owned subsidiaries of Nippon Life and Putnam, respectively.

The Nishimura & Asahi team advising Nissay Life was led by partners Tatsuya Tanigawa, Tatsuya Nakayama and Shingo Yamada.