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Office Overview
The opening of Vinson & Elkins’ Tokyo office in September 2004 expands the firm’s Asian practice into one of the world’s major commercial and financial centers. V&E; is the only Texas-based law firm with a presence in Japan, the world’s second largest economy.
The Tokyo office was opened in response to increasing demands from U.S. and international clients who are active investors in the market for Asian distressed debt, real estate and other distressed financial assets, particularly in Japan. Our lawyers have been active in transactions in this market since the late 1990s, particularly in financing portfolios of distressed assets, and have completed transactions exceeding Y600 billion (U.S. $5.5 billion) since 2001. As a result of this experience, our lawyers have developed detailed knowledge of the Japanese and offshore structures used to efficiently acquire, manage, finance and dispose of these assets. Among other structures, our lawyers have extensive experience in the use of tokutei mokuteki kaishas (similar to real estate investment trusts) and tokumei kumiais (similar to limited partnerships), which can eliminate or substantially minimize double taxation on profits from investments in real property and financial assets. Our lawyers also have extensive experience in the use of real property trusts (fudosan kanri shobun shintaku), which allow the disposition of economic interests in real property at substantially reduced transfer taxes.
The Tokyo office also enables Vinson & Elkins and its clients to capitalize on the firm’s experience and reputation as one of the world’s leading international energy law firms. Due to Japan’s vast, industrialized economy, but limited domestic resources, Japan must satisfy its energy needs in the international market, and Japanese energy and trading companies are active investors in global oil, gas, power and infrastructure projects. Drawing on almost a century of worldwide leadership in the energy sector, V&E; assists clients with the increasingly complex issues emerging in the rapidly changing energy industry. In 2003, V&E; provided services in more than 1700 energy industry transactions, arbitrations, lawsuits, and regulatory proceedings with a collective value exceeding $150 billion. In recognition of our worldwide capabilities, extensive industry experience and value-added approach, major research publications, including Euromoney, Chambers USA, Chambers Global and Petroleum Economist have awarded V&E; their highest rankings in the energy field.
Vinson & Elkins has a long history working with Japanese participants in international energy and infrastructure projects, and the existence of the Tokyo office will enhance the firm’s ability to represent Japanese and international investors in these transactions.
V&E;’s Tokyo office is staffed with U.S.-trained lawyers who are experienced in real estate, finance and project finance. These lawyers work closely with the more than 700 other V&E; lawyers located in nine additional offices around the world. The firm’s global footprint coupled with the depth of experience of its lawyers, positions Vinson & Elkins as a firm uniquely suited to represent Japanese clients abroad, as well as international clients in their transactions within Japan.
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