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Makiko Harunari
 

Makiko Harunari

Partner
 
ICBC Tower – 35th Floor
3 Garden Road, Central
Hong Kong  
 
Email:
Fax: +852-2869-7694

Based in Simpson Thacher’s Hong Kong office, Makiko Harunari is the Head of the Firm’s Asia Banking and Credit Practice. Makiko concentrates on complex cross-border financing transactions throughout the Asia-Pacific region, representing prominent financial sponsors, corporate borrowers, international financial institutions and private credit funds. Her practice includes a broad mix of acquisition finance, real estate finance, fund finance, back-leverage, direct lending and other innovative financing products. Makiko regularly advises institutional clients such as KKR, Blackstone and SoftBank, and has extensive industry experience across real estate, infrastructure, pharmaceuticals, technology and industrials.

Named to China Business Law Journal’s “The A-List,” Makiko has also been recognized as a highly regarded lawyer and leader by recent editions of IFLR1000, a notable practitioner by Chambers Asia-Pacific, a leading individual by The Legal 500 Asia Pacific, and was previously named a “Rising Star” in Banking by Super Lawyers. Simpson Thacher’s Banking and Credit Practice was also honored as part of China Business Law Journal’s 2021 China Business Law Awards.

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Work Highlights
  • KKR (and its portfolio companies) in multiple financings, notably: KKR's announced tender offer of Hitachi Transport System; KKR’s acquisition of Yayoi from ORIX Corporation; KKR’s acquisition of a controlling stake in Vini Cosmetics (an Indian company); KKR’s acquisition of Seiyu (a Japanese company) from Walmart, in a joint venture with Rakuten and Walmart; KKR’s acquisition of five Indian solar energy assets from SP Infra; PHC Holdings Corporation’s (a Japanese company) acquisition of the Anatomical Pathology business of Thermo Fisher Scientific Inc.; Calsonic Kansei’s (a Japanese company) acquisition of Magneti Marelli (an Italian company); and KKR’s acquisition of Taiwan’s LCY Chemical Corp.;
  • Blackstone in multiple financings, including its approximately US$6.3 billion acquisition of Crown Resorts Limited; $2.8 billion acquisition of a controlling stake in India’s Mphasis; and its ¥242 billion (approximately US$2.3 billion) acquisition of Takeda Consumer Healthcare Company, a subsidiary of Japan’s largest pharmaceuticals company;  
  • Primavera Capital Group in its acquisition of the Greater China Business of Mead Johnson Nutrition Company; 
  • SoftBank in one of the largest-ever margin loan financings in Asia; 
  • Korean banks in term loan facilities totaling US$1 billion in connection with the acquisition of Momentive Performance Materials by a consortium; and 
  • Financing aspects in connection with the formation of pan-Asia funds, including: Advantage Partners VI (¥85 billion); Sunrise Capital IV (US$450 million); J-GIA II Fund Series (¥38 billion); NIC II Series Funds (¥51 billion); and TCAP VI Series Funds (¥81 billion) as well as fund financing in connection with certain of these funds. 
Accolades
  • Women in Business Law Awards Asia by Euromoney (2021)
  • IFLR1000 Women Leaders (2021-2022)
  • “The A-List” by China Business Law Journal (2020-2021)
  • Leading Individual The Legal 500 Asia Pacific (2022)
  • IFLR1000 (2020)
  • “Rising Star” in Banking by Super Lawyers (2016-2018)
Education
  • Georgetown University Law Center, 2007 J.D.
    cum laude
  • Yale University, 2001 B.A.
Associations
  • CFA (Chartered Financial Analyst) Charterholder
Admissions
  • New York 2008
  • Hong Kong 2019
Languages Spoken
  • Japanese

Based in Simpson Thacher’s Hong Kong office, Makiko Harunari is the Head of the Firm’s Asia Banking and Credit Practice. Makiko concentrates on complex cross-border financing transactions throughout the Asia-Pacific region, representing prominent financial sponsors, corporate borrowers, international financial institutions and private credit funds. Her practice includes a broad mix of acquisition finance, real estate finance, fund finance, back-leverage, direct lending and other innovative financing products. Makiko regularly advises institutional clients such as KKR, Blackstone and SoftBank, and has extensive industry experience across real estate, infrastructure, pharmaceuticals, technology and industrials.

Named to China Business Law Journal’s “The A-List,” Makiko has also been recognized as a highly regarded lawyer and leader by recent editions of IFLR1000, a notable practitioner by Chambers Asia-Pacific, a leading individual by The Legal 500 Asia Pacific, and was previously named a “Rising Star” in Banking by Super Lawyers. Simpson Thacher’s Banking and Credit Practice was also honored as part of China Business Law Journal’s 2021 China Business Law Awards.

Select keynote representations have included:

  • KKR (and its portfolio companies) in multiple financings, including its:
    • ¥670 billion (approximately US$4.6 billion) announced tender offer of Hitachi Transport System;
    • ¥240 billion (approximately US$2.1 billion) acquisition of Yayoi from ORIX Corporation;
    • ¥230 billion (approximately US$2 billion) acquisition of Mitsubishi Corp.-UBS Realty;
    • Acquisition of Japan’s Central Tank Terminal from an affiliate of Macquarie Infrastructure and Real Assets;
    • Approximately US$625 million acquisition of a controlling stake in Indian beauty products company Vini Cosmetics; 
    • ¥172.5 billion (approximately US$1.6 billion) acquisition of a 65% stake in Seiyu, a Japanese supermarket chain, from Walmart in a joint venture with Rakuten and Walmart; 
    • INR15.54 billion (approximately US$204 million) acquisition of five Indian solar energy assets from SP Infra;
    • PHC Holdings (f/k/a Panasonic Healthcare) in its approximately US$1.14 billion acquisition of the Anatomical Pathology business of Thermo Fisher Scientific Inc.; Panasonic’s Healthcare’s €1.02 billion (approximately US$1.1 billion) carve-out acquisition of Bayer AG’s Diabetes Care business division; and approximately ¥165 billion (US$1.67 billion) acquisition of Panasonic Healthcare of Japan;
    • ¥498.3 billion (approximately US$4.5 billion) acquisition of Japan’s Calsonic Kansei, and Calsonic Kansei in its approximately €6.2 billion (US$7.1 billion) acquisition of Magneti Marelli, an Italian company;
    • Approximately NT$47.8 billion (US$1.56 billion) acquisition of Taiwan’s LCY Chemical Corp., which was named a 2019 deal of the year by Asian-mena Counsel, FinanceAsia and IFLR; 
    • Approximately ¥257.1 billion (approximately US$2.3 billion) tender offer of Japan’s Hitachi Kokusai Electric; 
    • Approximately ¥147.1 billion (approximately US$1.28 billion) tender offer of Japan’s Koki Holdings (f/k/a Hitachi Koki Co);
    • Approximately ¥147.1 billion (approximately US$1.28 billion) tender off of Japan’s Koki Holdings (f/k/a Hitachi Koki Co); and
    • Investment in and the spinoff of Pioneer DJ (n/k/a AlphaTheta) and subsequent sale of its 85% stake in the Japanese company.
  • Blackstone (and its portfolio companies) in multiple financings, including its:
    • Approximately US$6.3 billion acquisition of Crown Resorts Limited;
    • Acquisition of a controlling stake in ASK Investment Managers, one of India’s largest asset and wealth management companies;
    • US$2.8 billion acquisition of a controlling stake in India’s Mphasis, which was named a 2021 deal of the year by India Business Law Journal
    • ¥242 billion (approximately US$2.3 billion) acquisition of Takeda Consumer Healthcare Company, a subsidiary of Japan’s largest pharmaceuticals company;
    • US$1.1 billion acquisition of a majority stake in the largest logistics park in China’s Greater Bay Area; and
    • HK$12 billion acquisition, as part of a consortium with Gaw Capital Partners and Goldman Sachs, of 12 shopping centers in Hong Kong from Link REIT.
  • Primavera Capital Group in its acquisition of the Greater China Business of Mead Johnson Nutrition Company;
  • SoftBank in a ¥500 billion (US$4.5 billion equivalent) margin loan financing;
  • Kookmin Bank Co., Ltd., The Korea Development Bank and The Export-Import Bank of Korea as lead arrangers in a US$839 million second lien term loan facility, and KEB Hana Bank, The Export-Import Bank of Korea and The Korea Development Bank as lead arrangers in a US$162 million additional term loan facility in connection with the acquisition of Momentive Performance Materials by a consortium;
  • ChemChina in its US$5.5 billion refinancing;
  • SK Holdings in its acquisition of AMPAC Fine Chemicals; and
  • Financing aspects in connection with the formation of pan-Asia funds, including: Advantage Partners VI (¥85 billion); Sunrise Capital IV (US$450 million); J-GIA II Fund Series (¥38 billion); NIC II Series Funds (¥51 billion); TCAP VI Series Funds (¥81 billion); and Seven Seas Japan Opportunity Fund (¥17 billion) as well as fund financing in connection with certain of these funds.

A recognized leader, Makiko serves as the Deputy Chair of the Asia Pacific Executive Committee of the Fund Finance Association. She is also a member of the Asia-Pacific Committee of Women in Fund Finance and served as a Co-Chair of the organization in 2018 through 2019. In 2017, she was a Fellow of the Leadership Council on Legal Diversity, an organization focused on building a more open and legal profession. Throughout her career, Makiko has been a speaker on topics related to the banking and credit sector, including most recently at the Fund Finance Association’s Asia-Pacific Fund Finance Market Update in June 2022.

Makiko joined Simpson Thacher after graduating from Georgetown University School of Law in 2007, where she received her J.D., cum laude. She received her B.A. from Yale University in 2001. Originally from Japan, Makiko grew up in Europe and was educated in the United States, and is fluent in Japanese. She is admitted to practice in New York and as a solicitor in Hong Kong, and is a CFA Charterholder. 

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