Japan Display Inc. - Transfer of idled plant to INCJ and tie-up with JOLED Inc.
Leading Japanese law firm Nishimura & Asahi has advised Japan Display Inc. (“JDI”) on the transfer of its idled Nomi Plant in northwest Japan to Innovation Network Corporation of Japan ("INCJ") in exchange for USD 181 million, on the redemption of its 1st Series Unsecured Convertible Bonds with Stock Acquisition Rights (subordinated) issued to INCJ for the face value of USD 181 million, and on the procurement of USD 181 million in loans from INCJ.
In addition, Nishimura & Asahi has advised JDI on its capital and business tie-up with its equity-method affiliate JOLED Inc., a developer, maker and seller of organic light-emitting diode (OLED) displays using printing technology.
JDI was formed in 2012 through the government-sponsored merger of parts of Sony Corporation, Hitachi Ltd., and Toshiba Corporation.
The Nishimura & Asahi team advising JDI was led by partner Yuki Oi.
Yuki Oi is a partner in our M&A/Corporate practice group. He advises domestic and international corporations and financial institutions on their cross-border and domestic M&A transactions. He also handles corporate governance matters and general corporate issues, as well as corporate crisis management matters and commercial litigation.
Some of the major cases he has advised on include representing UFJ Holdings on its integration with Mitsubishi Tokyo Financial Group (2006), Bulldog Sauce on its famous defense against a hostile takeover attempt initiated by Steel Partners (2007), the Osaka Securities Exchange on its integration with the Tokyo Stock Exchange (2011), Idemitsu Kosan on its integration with Showa Shell Sekiyu (2015-19), Toshiba on its divestiture of Toshiba Memory Corporation (2018), and Honda on its strategic alliance with Sony Group in mobility sector (2022).
He was awarded the Young Lawyer of the Year Award at the ALB Japan Law Awards 2019, and the Innovative Practitioners Award at the FT Innovative Lawyers Awards Asia-Pacific 2020. He was also selected as one of Asia’s top 40 lawyers under 40 by Asian Legal Business in 2017.
He has also served as a lecturer at the University of Tokyo, Faculty of Law (2012-13), and Graduate Schools for Law and Politics (2014-present).