KDDI Corporation - Subscription for shares in Jibun Bank Corporation and planned commencement of tender offer for shares in Securities Co., Ltd.

Leading Japanese law firm Nishimura & Asahi advised KDDI Corporation (“KDDI”) [TSE: 9433] on its decision to make Jibun Bank Corporation (“Jibun Bank”) its subsidiary by subscribing through third-party allocation for all of its newly issued shares, and on KDDI’s planned commencement of a tender offer for shares in Securities Co., Ltd. (“ Securities”).

KDDI will establish an intermediate financial holding company, au Financial Holdings Corporation (“au Financial Holdings”) in order to strengthen its settlement and financial business and to commence its “Smart Money Concept”, which allows settlements and financial transactions through smartphones.

KDDI will also transfer five companies, namely Jibun Bank, which will become KDDI’s subsidiary, KDDI Financial Service Inc., WebMoney Corporation, KDDI Asset Management Company, Limited, and KDDI Reinsurance Corporation, which are KDDI’s subsidiaries, to the control of au Financial Holdings on April 1, 2019 (tentative date). In addition, KDDI plans to standardize the names of the five companies under the control of au Financial Holdings, and au Insurance Company, Limited and Securities, which are members of the KDDI group, by changing them to names that include the au brand, within FY2019.

The Nishimura & Asahi team advising KDDI was led by finance regulatory partners Yasutaka Nishikori and Susumu Tanizawa, corporate partners Takuya Matsuo and Yoshito Wakabayashi, and competition law partner Kazumaro Kobayashi.