Davis Polk advised Sushiro Global Holdings Ltd. in connection with the initial public offering of 19,123,100 shares of common stock of Sushiro Global Holdings Ltd.

The shares were sold by Consumer Equity Investments Limited (CEIL), an Irish company, and certain shareholders of Sushiro. In addition, the underwriters have an over-allotment option with respect to 2,011,600 shares. The global offering consisted of an offering in Japan and an international offering outside Japan pursuant to Rule 144A and Regulation S. The shares are listed on the Tokyo Stock Exchange. Assuming full exercise of the over-allotment option, the aggregate proceeds of the global offering will be approximately ¥76.1 billion (approximately $678.9 million).

Sushiro owns and operates Akindo Sushiro, a leading brand of value kaiten (conveyor belt) sushi restaurants in Japan. In April 2009, Sushiro was acquired by Unison Capital Group and delisted from the Tokyo Stock Exchange. After initiating several strategic initiatives, Unison Capital Group sold its interest in Sushiro to a subsidiary of CEIL in 2012. Under CEIL, Sushiro strengthened its procurement and technology abilities and expanded its number of stores including, opening several stores in Korea.

The Davis Polk corporate team included partner Jon Gray, counsel Christopher J. Kodama, associates Mari Foster and Shinya Fujiwara and senior transaction manager Chihiro Sasaki. Associate Veronica Orecharova provided tax advice. Members of the Davis Polk team are based in the Tokyo and London offices.

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