Nippon Life Insurance Co. - Acquisition of additional shares in Australia’s MLC Ltd.

Leading Japanese law firm Nishimura & Asahi advised Nippon Life Insurance Co. (“Nippon Life”) on its subscription, together with National Australia Bank Ltd., for additional shares through third-party allotment in MLC Ltd. (“MLC”), a life-insurance consolidated subsidiary of Nippon Life. This share purchase follows Nippon Life’s capital injection of last December and is aimed at enhancing the financial soundness of MLC. Upon completion, Nippon Life will continue to hold an 80% stake in MLC.

The Nishimura & Asahi team advising Nippon Life was led by partners Tatsuya Tanigawa, Masaki Noda and Tatsuya Nakayama.