Toshiyuki Arai
Paul Hastings LLP
Corporate
Partner
Paul Hastings Foreign Law Joint Enterprise
Ark Hills Sengokuyama Mori Tower
Fortieth Floor 1-9-10
Roppongi Minato-ku
Tokyo 106-0032 Japan
Contact
toshiyukiarai@paulhastings.com
81-3-6229-6010
vCard
Main Practice Area

Corporate

Education
  • Cornell Law School, LL.M., 1988
  • The Institute of Legal Training and Research of The Supreme Court of Japan, diploma, 1985
  • University of Tokyo, B.A., 1982
  • University of Tokyo, B.A., 1980
Biography

Toshiyuki Arai is a partner in the Corporate practice of Paul Hastings and is chair of the firm’s Tokyo office. His clients include international manufacturing companies, private equity funds, technology companies, investment banks, commercial banks, and trading companies, primarily from the U.S. and Japan. Mr. Arai has extensive experience in the area of U.S.-Japan and U.S.-China corporate acquisitions since 1991 when he joined the firm’s Los Angeles Office. He led several landmark acquisitions of Japanese financial institutions (Japan Leasing Co., Ltd. – the largest acquisition in Japan, Toho Mutual Life Insurance Company and a consumer finance company) by GE Capital. In the most recent 8 years, he has been involved in global acquisitions and alliances for U.S. and Japanese businesses involving U.S., Europe, China and other Asian countries. In particular, he is active in cross-border acquisitions and joint ventures involving technology aspects (e.g. Internet-related industries and TV screen products) and distress assets/insolvency procedures (in financial, insurance and entertainment industries). Mr. Arai is a globally-trained transactional lawyer with Japanese legal insight.

Experience

  • AEON Co., Ltd., a leading retail company in Japan, in its buyout of Warner Bros. Entertainment Inc.’s 50% equity interest in Warner Mycal Corporation, which currently operates 60 movie theaters across Japan;
  • SOFTBANK Corp., in its acquisition of a majority interest in Alibaba.com Japan Co. Ltd; 
  • Misumi Group, Inc. in its acquisition of all shares in Dayton Progress Corporation and the components business of The Anchor Danley Company in US, Japan and globally;
  • ABC-MART, Inc., in its acquisition of La Cross, Inc., a NASDAQ listed company by tender offer;
  • GE Capital, in its acquisition of Japan Leasing Co., Ltd. out of corporate reorganization procedure in Japan;
  • GE Capital, in its acquisition of Toho Mutual Life Insurance Company out of distress in Japan;
  • Hitachi Plasma Display Limited, in connection with its assets sale and technology transfer to a Chinese state-owned company in Anhui, China;
  • Sansei Technologies, Inc., in connection with acquisition of S&S Worldwide, Inc. in Utah, U.S.A.;
  • Paramount Pictures, in connection with the civil rehabilitation proceedings of Movie Television, Inc., a distributor in Japan of Hollywood studios’ content, including the filing of over US$100 million in Paramount claims against Movie Television and negotiation of a settlement with MTI’s civil rehabilitation sponsor, a Softbank acquisition vehicle;
  • Mitsui Venture Capital (Mitsui & Co. group), in its investment in China Mingyang Wind Power Group Ltd.;
  • Merrill Lynch, in connection with its acquisition of 50% equity interest in a Taiwanese company that holds a real estate project in Ningbo;
  • Mitsui & Co., Ltd., in connection with the restructuring of the assets owned by a PRC logistics company in Shenzhen followed by the restructuring and acquisition of the offshore equity interest in the company;
  • Bank of Tokyo Mitsubishi UFJ (China), Ltd., on the conversion of its six existing Chinese branches into a newly-established banking subsidiary in China, including: the asset acquisition of Bank of Tokyo Mitsubishi UFJ's six China branches; the transfer of the assets and liabilities to the new entity; communication of these transfers to the existing customer base and the authorities of multiple jurisdictions; and advising on other establishment matters such as the explanation of the establishment of its new banking subsidiary in China to the Japanese regulatory authorities and the re-location of the expatriates to the new China bank;
  • JCB Co., Ltd., in connection with its collaboration with AMEX to open both companies' worldwide merchant networks, creating the first worldwide affiliation of two credit card brands to share their client networks and service;
  • Merrill Lynch, in its US$70 million investment in a West Samoan company, which indirectly owns a project company that develops a mixed-use office and retail building in Jing'an, Shanghai;
  • Sumitomo Mitsui Banking Corporation, in a series of transactions leading to the establishment and consolidation of its current operating subsidiary in China;
  • The Bank of Tokyo-Mitsubishi, Ltd., on its merger with UFJ Bank Limited and subsequently acting as their regulatory and transactional counsel, upgrading the entire suite of transaction documents for the banks;
  • Daikin Industries, Ltd., in its post-merger integration of 130 subsidiaries previously owned by OYL Industries (Malaysia). These operations are located in Malaysia, South-east Asia and Mainland China. This project included an extensive amount of due diligence, documentation and also advice on related employment matters;
  • Sumitomo Corporation, in its ground-breaking onshore acquisition of PRC state-owned non-tradable shares in Henan Topfond Pharmaceutical Co. Ltd., one of China's largest state-owned pharmaceutical companies. This was the first time a foreign strategic investor has acquired shares in a PRC state-owned listed company using an onshore structure and involving share reform (the requirement to convert illiquid shares into tradable shares); and
  • Sansei Technologies, Inc., an Osaka-based company engaged in the design, manufacture, repair and maintenance of amusement rides, stage equipment and elevators, on its 100% acquisition of leading global roller coaster manufacturer Vekoma Rides.

Accolades and Recognition

  • Recognized as M&A Firm of the Year at The American Lawyer’s Asia Legal Awards
Speaking Engagements and Publications

Publications
  • Nikkei Biz Plus “How to negotiate with Chinese companies” – September 2009 - March 2010
  • The Lawyers “Practices on Multinationals’ Acquisitions in China” - May 2010

Speeches

  • “US Anti-trust threats on Foreign Companies” – October 2012 by The Association of Corporate Legal Departments
  • “Offshore Acquisitions in China and Challenges” – May 2010 by FN Communications
  • “Issues involving Multinationals’ Acquisition in China” – June 2010 by Japan Institute for Overseas Investment
  • “Post-Merger Integration – China M&A” - 2008 by Japan Institute for Overseas Investment

Professional and Community Involvement

  • He is admitted to practice in Japan and California.

Languages

  • Japanese

Admissions

  • California Bar
  • Japan
Practice Areas
  • Private Equity
  • Internet of Things
  • Technology
  • Bank Regulatory
  • Asia
  • Fintech and Payments
  • Payment Systems
  • Mergers and Acquisitions
Client News