Davis Polk is advising NEC Corporation on its $449 million acquisition of Convergys Corporation’s Information Management (IM) business. Following the acquisition, the IM business will be integrated into NetCracker Technology Corporation, a subsidiary of NEC and the leading provider of telecom operations and management systems to communications service providers worldwide. The acquisition is expected to close by late second quarter of 2012.

Simpson Thacher’s Tokyo office recently represented the underwriters, led by Morgan Stanley, Deutsche Bank Securities and BofA Merrill Lynch in a shelf takedown of $500 million 3.75% Senior Notes due 2017 of ORIX Corporation.

Davis Polk is advising Elpida Memory, Inc., a debtor in a corporate reorganization proceeding filed in Japan, in connection with obtaining provisional relief and recognition under Chapter 15 of the U.S. Bankruptcy Code of its Japanese proceeding.

Today, Pillsbury is pleased to welcome Hideki Akiyama as the newest partner in its Tokyo office. Akiyama, who comes to the firm from Atsumi & Sakai where he was a partner, will join Pillsbury’s Corporate & Securities practice.

The Tokyo office of the Firm recently represented the initial purchasers, led by Goldman Sachs International, J.P. Morgan Securities LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Nomura Securities International, Inc. in an offering of $1,300,000,000 7.00% Step-up Callable Subordinated Notes due 2072 by Mitsui Sumitomo Insurance Company, Limited.  The notes were sold to international investors outside of Japan in reliance on Rule 144A and Regulation S. The notes are listed on the Singapore Stock Exchange.

Simpson Thacher’s Tokyo office recently represented the initial purchasers, led by Barclays Bank PLC, UBS Limited, Citigroup Global Markets Limited and Goldman Sachs International in an offering of $1.5 billion 4.85% Subordinated Bonds due 2022 of Sumitomo Mitsui Banking Corporation (“SMBC”).  The offering was conducted pursuant to Regulation S.  The bonds are listed on the Singapore Stock Exchange.

Davis Polk advised BNP Paribas Securities Corp., Citigroup Global Markets Inc., Deutsche Bank AG, Singapore Branch, The Hongkong and Shanghai Banking Corporation Limited, J.P. Morgan Securities LLC, KDB Asia Limited and The Royal Bank of Scotland plc as underwriters in connection with a Schedule B debt offering by The Korea Development Bank of $750 million in aggregate principal amount of its 3.5% notes due 2017.

Simpson Thacher’s Tokyo office recently represented the managers, led by Morgan Stanley & Co. LLC, Mitsubishi UFJ Securities (USA), Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated in an offering of $1 billion 2.35% Senior Notes due 2017 of The Bank of Tokyo-Mitsubishi UFJ, Ltd (“BTMU”). The offering was conducted pursuant to Rule 144A and Regulation S. The bonds are listed on the Singapore Stock Exchange.

Squire Sanders recently advised Tokyo Gas Co., Ltd., Japan’s largest natural gas utility, on an equity sales and purchase agreement with INPEX Corp. and Total SA to acquire a participating interest in the estimated US$34 billion Ichthys Liquefied Natural Gas (LNG) Project in Western Australia.

Leading international law firm Clifford Chance has advised a seller formed by funds advised by CVC Asia Pacific (CVC) on its sale of Minit Asia Pacfic Co. Ltd (Minit Asia) to a purchaser formed by the private equity fund, Unison Capital I, L.P.