Simpson Thacher recently represented SBI Shinsei Bank, Limited in connection with its ¥322 billion (approximately US$2 billion) initial public offering on the Tokyo Stock Exchange, including an offering to institutional investors outside Japan pursuant to Rule 144A, and to institutional investors outside Japan and the United States pursuant to Regulation S. The shares in the international offering consisted of existing shares sold by the selling shareholder, SBI Holdings, Inc., whom Simpson Thacher also advised. The offering was the second-largest Japanese IPO of 2025.
SBI Shinsei Bank, Limited is a diversified Japanese financial institution providing a range of financial products and services to both individual and institutional customers. It is a key constituent entity of the SBI Group.
The international joint lead managers for the international offering were Nomura International plc, SBI International Limited, Goldman Sachs International, Merrill Lynch International, Mizuho International plc and SMBC Bank International plc.
The Simpson Thacher team included Taki Saito, Yuriko Miyasaka and Andrew Weiss (Capital Markets); Jon Cantor and TK Lee (Tax); and Jeanne Annarumma (Executive Compensation and Employee Benefits).