Energy &Infrastructure
Practice

Energy andInfrastructure Practice
The energy industry is going through a period of dramatic change asmeasures are undertaken toward achieving energy security and a carbonneutral society. Public-private partnerships (PPPs) and Private FinanceInitiatives (PFIs) are expected to provide solutions for various social issues.
Our outstanding Practice Group has a broad range of expertise to assist
our clients in the cross-border energy and infrastructure field, including
adv isi ng on cross-border i nvest ment project s a nd ex por t i ng of
infrastructure systems by Japanese companies. Our Practice Group's close
relationships with regulatory authorities, quasi-governmental agencies,
industrial associations and major players in the industry enable us to help
our clients navigate the most recent regulatory reforms and draw upon themost current trends in the industry.

Energy-Related andInfrastructure-Related Services
In assisting clients in a wide array of energy-related and infrastructurerelated businesses, the firm's Energy and Infrastructure Practice Group
works with MHM lawyers who have expertise in other relevant practiceareas, such as finance, mergers and acquisitions, competition, tax, andlitigation, depending on the specific nature of each matter. We are therefore
able to tailor our legal services to the specific needs of our clients andprovide them with a "one-stop" solution. Our various practice groups
continually meet to share recent information, knowledge, and experience ina variety of matters in order to position us to deal effectively with any
matter that we are called upon to handle for our clients.

ESG/SDGs PG

Energy & Infrastructure

Banking and Finance PG

Environmental Law PG

Practice
Structured Finance PG

International Trade PG

Energy & Infrastructure PG

M&A PG

Litigation PG

Competition/Antitrust PG

Close connections
through seconded lawyers

Tax PGMHM
Tax Advisory Services

Agency of Natural Resources and Energy,
Ministry of Economy, Trade and Industry (“METI”)

Cabinet Office/Ministry of Land,
Infrastructure, Transport and Tourism

Electricity and Gas Market
Surveillance Commission (EGSC)

Organization for Cross-regional Coordinationof Transmission Operators (“OCCTO”)

Electricity business operators

Developers

Construction companies/
generator manufacturers

Banks and major financial institutions

M ORI H AMADA & M ATSUMOTO- 2 -One-stop Law Firm
In order to navigate today's highly complex business world, lawyers needhighly specialized knowledge and a depth of experience. However, acombination of knowledge and expertise in a number of specialized areas
is required when working on projects, and this is especially true in thearea of energy and infrastructure.

Mori Hamada & Matsumoto ("MHM") has a broad range of practice groups
which allow us to draw on our collective strength as a firm. Within thesepractice groups, which consist of a number of lawyers sharing a common
area of expertise, our lawyers are able to continually enhance theirexpertise by sharing and building on their knowledge and experience. Bycollaborating across multiple practice groups, and through joint study
sessions and working together with other practice groups, our lawyers are

Energy & Infrastructure
Practiceable to share information on revisions to relevant laws and regulations,industry trends, and important issues concerning individual matters.

When handling energy-related matters, the core members of our Energy
and Infrastructure Practice Group regularly work together with membersof the Structured Finance, the Mergers and Acquisitions, Competition/
Antitrust and ESG/SDGs Practice Groups. Depending on the particular
status of a project, members of the Tax, the International Trade, and theEnvironmental Law Practice Groups are also able to smoothly collaborate
with the Energy and Infrastructure Practice Group when required.
Recently there has been greater collaboration with members of the
Litigation Practice Group due to an increase in the number of energyrelated disputes.

Through these structures we are able to form teams with the mostappropriate team members from among our various practice groups
according to the specific nature and status of each matter, which enables
us to provide optimal advice covering all areas of law that relate to aparticular matter.

M ORI H AMADA & M ATSUMOTO- 3 -Relationship with
Governmental Authorities
By seconding our lawyers to a wide range of governmental agencies,
including the Agency of Natural Resources and Energy, the Ministry of
Economy, Trade and Industry ("METI"), and the Ministry of Justice, andother related organizations such as the Electricity and Gas Market
Surveillance Commission, and the Organization for Cross-regional
Coordination of Transmission Operators ("OCCTO"), and through theservice of our lawyers as members of research committees at the Ministryof Environment, METI, the Ministry of Land, Infrastructure, Transport andTourism, and the Cabinet Office, the firm has been deeply involved in
discussions on the system design of various legal structures, legislation anddevelopment of regulations, and the development of practical operations
concerning the energy and infrastructure industries. Through these

Energy & Infrastructure
Practice

relationships, we have acquired a wealth of knowledge in areas such as
the background of legal systems and practical operations, and have thelatest information concerning discussions on those matters. In addition,exchanges of personnel through secondment arrangements with various
companies have allowed us to connect and cooperate closely with leading
players at the forefront of the energy and infrastructure industries.

Through these relationships MHM is well positioned to provide our clientswith the most reliable legal services based on the most up-to-date
information and knowledge.

M ORI H AMADA & M ATSUMOTO- 4 -Energy-Related Services
A period of major change in the energy industry
Against the backdrop of global issues such as climate change caused by
global warming, and uncertainties concerning stable energy supplies,
the energy industry is undergoing a period of major change as measures
are undertaken toward achieving a carbon-neutral society and ensuring
energy security.

Renewable energy sources, which have experienced continued rapid
growth following the introduction of the feed-in tariﬀ (FIT) mechanism, areexpected to become the main sources of power and to be introduced to the
maximum extent possible in response to the government's FY2030 target of
reducing greenhouse gases by 46%, and its 2050 carbon neutral declaration.
At the same time, however, there are questions on how to appropriately

Energy & Infrastructure
Practice

introduce and manage the systems in order to minimize the burden on the
public and ensure coexistence with local communities and the environment.
This will require regulator y and institutional refor ms to promote
disciplined and appropriate development, as well as the strengthening andimprovement of power transmission and distribution systems. Furthermore,with the rapid progress of decarbonization initiatives at the private-sector
level and a growing awareness of environmental values, there has been
a rapid increase in corporate PPAs and trading of electricity derived fromrenewable energy and environmental values through non-fossil value
trading markets, etc., as well as development of renewable energy power
plants, establishment of listed funds and secondary market transactions ofexisting operating power plants. The introduction of storage batteries anddistributed energy resources with demand response and the developmentof aggregators are also progressing following the introduction of the feed-in
premium (FIP) mechanism in 2022.

In addition to renewable energ y initiatives, ot her initiatives for
decarbonization include specific support and legislative development aimed
at creating demand for hydrogen and ammonia, and the establishment of

M ORI H AMADA & M ATSUMOTO- 5 -large-scale supply chains, as well as the examination of legal systems forthe commercialization of CCS. The implementation of emissions trading
and introduction of a carbon tax are also being discussed.

Meanwhile, the energy industry has entered an era of unprecedentedcompetition due to factors such as soaring energy prices, and has attracted
many new business operators into the industry following liberalizationof electricity and gas retail markets. Industry players have been actively
forming business alliances and partnerships that transcend industry sectors,
leading to further industry restructuring, including large-scale mergers andacquisitions. The capacity market system is also undergoing reviews in
response to the urgent need to address the tight supply-demand crunch.

Power plant construction projects
We have extensive experience handling a variety of power plant
construction projects, including those for renewable energy (solar power,

Energy & Infrastructure
Practicewind power (onshore and oﬀshore), geothermal power (ﬂash and binary),
biomass, and medium to small scale hydropower) and most-advanced coaland LNG thermal power generation, from a variety of perspectives, suchas those of power plant businesses and sponsors, financial institutions, andrelated service providers.

The legal services that we provide for power plant construction projects
include the following:●

Advice concerning transaction structure formulation (from legal andtaxation perspectives), securing sites, authorizations and permits, andenvironmental regulations●

Legal due diligence●

Assistance in preparation and negotiation of project-related agreements(including PPA, EPC agreements, turbine supply agreements, O&M
agreements, long-term service agreements, and fuel supply agreements)●

Assistance in preparation and negotiation of project fi nancing
agreements (including loan agreements, security agreements, sponsor
support agreements, and direct agreements)

M ORI H AMADA & M ATSUMOTO- 6 -Secondary market transactions and establishment of(listed and privately offered) energy funds
In addition to possessing formidable experience in the establishment andlisting of listed infrastructure funds, we are also well-versed in the saleand acquisition of power plants and the financing and establishment ofprivate funds related to such projects. We assist our clients in establishingand managing new and innovative funds in the energy sector by also
drawing upon our participation in the Tokyo Stock Exchange's "Study
Group on the Listed Infrastructure Market." Our services include:●

Support for formulation of transaction structures (from legal and taxation
perspectives)●

Legal due diligence●

Assistance in establishment and listing of funds●

Establishment of investment management companies and acquisition oflicenses, permits, and approvals from authorities

Energy & Infrastructure
Practice●

Support at various stages of investment management (assistance inpreparation and negotiation of agreements related to acquisition of
investment targets)

Corporate PPA and Non-Fossil Value Transactions
The trend towards decarbonization has resulted in a growing need forcompanies, as electricity consumers, to procure carbon-free electricity.
There has been an increase in both onsite/offsite and physical/virtual
corporate PPAs, under which electricity generated from renewable energy
sources is supplied according to agreements between power producers andcustomers. Non-fossil value trading markets are also being developed in
response to increasing needs for non-fossil value trading, which will allow
direct purchases by some consumers and expand the scope of tracking,while improving convenience.

MHM continually keeps abreast of Japanese regulatory trends and has
assisted with the establishment of trading mechanisms through corporate
PPAs from an early stage, while also following developments overseas.
Our lawyers, who are well versed in complex regulatory and power trading

M ORI H AMADA & M ATSUMOTO- 7 -mechanisms, will continue to support our clients in examining increasingly
diverse transactions.

Support for decarbonization initiatives
We have an active environmental law practice and were involved very
early in the various measures taken to address climate change, such as
emissions trading. We have handled a number of leading projects in thisfield, such as emissions trading, carbon offsetting and the creation ofemission trading related financial instruments. We will make the mostof our wealth of experience in handling these advanced initiatives toadvise our clients and establish systems in response to deliberations on
the introduction of emissions trading and carbon taxes to be implemented
through various markets that are being considered and developed in Japanand overseas.

In addition, we actively provide support for legislative and institutional

Energy & Infrastructure
Practice

activities through secondment of our lawyers to government and publicorganizations, and through our participation as members of councils.
Through these activities, we not only serve the public interest but also
reﬂect opinions from private business in legislation and systems, providing
legal services to our clients based on the most current legal information in
the field. Recently, through secondment of our lawyers to the Agency for
Natural Resources and Energy and through participation in councils wehave accumulated a wealth of up-to-the minute and specialized knowledge
in the areas of hydrogen, ammonia, and CCS.

M&A and alliances involving energy-related businesses
There has been a dramatic increase in partnerships and alliances between
companies from within energy-related industries, as well as between thosefrom within and outside those industries. The firm has been involvedin the handling of numerous M&A and joint venture transactions withinenergy-related industries, and we offer advice using that extensive
experience as well as knowledge regarding the latest trends in energyrelated industries. Our services in this area include:

M ORI H AMADA & M ATSUMOTO
- 8 -

●

Support in developing transaction structures (from legal and taxation
perspectives)●

Legal due diligence●

Advice concerning the Electricity Business Act and related industry
laws●

Advice concerning antitrust laws and competition laws●

Support with inquiries, negotiations, preparation and fi ling of
notification documents, etc. with respect to regulatory authorities●

Preparation and negotiation of share purchase agreements and othertransaction documents●

Support for fi nancing●

Support with closing procedures, etc.

Providing legal assistance for energy-related business
The liberalization of entry into energy-related businesses as a result ofelectricity and gas system reforms continues to progress, and players fromEnergy & Infrastructure
Practicea variety of industries are entering into energy-related businesses.

In the electricity business sector, reviews are undertaken from time to timeof system designs for capacity markets, non-fossil value markets, and othernew markets. Staying abreast of prevailing trends in the sector is essential
for conducting the electric power retail business. Such electricity andother energy-related business sectors demand a high level of expertise, andbusiness operators entering these fields from other industries face a varietyof legal issues, including dealing with relevant legal regulations, theinternal rules of regulatory authorities, and the internal regulations ofelectricity companies.

Our firm's lawyers use their experience and expertise to oﬀer eﬀective andrelevant legal services at various phases, including the deliberative phaseof new entry into energy-related businesses, and incorporating all of thefollowing:●

Support in analyzing industry entry structures

M ORI H AMADA & M ATSUMOTO
- 9 -

●

Advice concerning the Electricity Business Act of Japan and otherrelated industry laws●

Assistance with inquiries and negotiations with relevant regulatory
authorities●

Assistance in preparation and negotiation of agreements, corporate
organizational documents, etc.

Infrastructure-Related Services
Diversifying Infrastructure Businesses
The maintenance and renovation of deteriorating infrastructure is anational issue of concern in Japan. While national and local governments
face an increasingly severe fiscal situation, it is expected that the
declining population will lead to a shrinking workforce. Against thisbackground, the utilization of PPP/PFI, which draws upon the creativity

Energy & Infrastructure
Practiceand resourcefulness of the private sector for the maintenance, renovation,
development and operation of infrastructure, based on appropriate
division of public and private sector roles, will become even more vitalin the future in order to solve a variety of social issues, such as ensuring
both fiscal soundness and securing infrastructure, as well as appropriate
responses to diverse policy needs.

The opening up of infrastructure development and operation to theprivate sector, including PPP/PFI, will expand business opportunities
for the private sector with new employment and investment, and thedevelopment of profitable businesses by the private sector will lead tothe creation of vibrant communities and the resolution of local issues.
Furthermore, generating an abundant ﬂow of private-sector funds throughthe promotion of PPP/PFI is expected to stimulate project financing byfinancial institutions, cultivate infrastructure funds as entities to provide
funding, and promote the development of infrastructure investment
markets to raise funds from investors.

M ORI H AMADA & M ATSUMOTO- 10 -

In addition, the PPP/PFI approach is expected to not only contribute to therealization of a positive cycle of growth and distribution as a new pillarof public-private partnerships that will be at the core of the government's
plans for a new style of capitalism, but it is also expected to be eﬀectivein addressing new policy issues such as decarbonization and social
implementation of digital technology to achieve carbon neutrality by 2050,
and will also contribute to the achievement of SDGs.

Since the enforcement of the Act on Promotion of Private Finance
Init iat ives (PFI Act) in 1999, ma ny PPP/ PFI projects have been
implemented in Japan. In addition, a concession system that grants private
businesses the right to operate public facilities, which was introduced
in 2010 by amendments to the Act on Promotion of Private FinanceInitiatives of Japan, has been utilized in a variety of public works, suchas airports, toll roads and transport terminals, waterworks (water supply
facilities, sewage plants and industrial waterworks), educational facilities

Energy & Infrastructure
Practiceand MICE facilities. Taking into account there social trends, the "Action
Plan for PPP/PFI Promotion," which is revised and published annuallyby the Cabinet Office's Council for the Promotion of Private FinanceInitiatives (PFI Promotion Council), outlines initiatives such as active useof the concession method, promotion of PPP projects that make eﬀective
use of conventional PFI projects and public real estate, and new models
for PPP/PFI utilization (fields and methods, etc.) and also sets the goal ofachieving a business scale equivalent to 30 trillion yen over the 10 years
from 2022 to 2031 in order to steadily promote PPP/PFI, improve businessefficiency and public services, and create business opportunities for theprivate sector. In recent years there has been an increase in the use of pay
for success (PFS) systems, in which governments delegate public works tothe private sector and pay compensation based on the degree of success,and social impact bonds (SIB), and it is expected that there will be further
acceleration in the trend towards using public-private partnerships, andthat the forms of such partnerships will become more diversified.

Looking overseas, the construction of infrastructure has become a pressing

M ORI H AMADA & M ATSUMOTO- 11 -

issue among other countries in Asia as well as developing countries inother regions, and the governments of these countries are progressing withthe construction of infrastructure at an urgent pace, bringing in capitaland technology from foreign countries. The needs for the development
and operation of such infrastructure have traditionally been met primarily
through Official Development Assistance (ODA), but in recent years, thenumber of PPP projects have been increasing due to developing countries
losing eligibility for ODA, and concerns about the increasing burden of
external debt. In addition to government procurement projects, there has
also been an increase in real estate development projects undertaken by
local conglomerates and other leading companies. Meanwhile, cities indeveloped countries are also being redeveloped through urban development
and industrial transformation by incorporating DX (Digital Transformation).

In response to these trends, the Japanese government is also actively
backing the export of infrastructure systems by Japanese companies by

Energy & Infrastructure
Practice

formulating the "2025 Strategy for Promotion of Overseas Infrastructure
Systems" and the "Action Plan for Promotion of Overseas Infrastructure
Systems" as well as enacting the so-called "Overseas Infrastructure
Development Act" in 2018.

PPP/PFI Projects
The firm has advised numerous entities, regardless of their size, including
national and regional public bodies, business operators or sponsors, andfinancial institutions, with respect to various PPPs/PFIs, including airports,
water supply businesses, and private for-profit facilities. Our lawyers serveas members of examination committees for various PPPs/PFIs and haveextensive involvement in business operator selection procedures in PPPs/
PFIs of national and regional public bodies.

Based on our wealth of experience in PPP/PFI projects, we offer thefollowing legal services:

M ORI H AMADA & M ATSUMOTO- 12 -

Services for national and regional public bodies●

Formulation and examination of project structures●

Support for preparation and negotiation of basic agreements and projectagreements or preparation of documents for solicitation●

Execution of and support for legal due diligence (concession projects)●

Assistance in competitive dialogue procedures and inquiries

Services for private business operators●

Examination of project structures and analysis of legal risks●

Support for preparation of proposals●

Execution of and support for legal due diligence (concession projects)●

Assistance in competitive dialogue procedures and inquiries●

Assistance in project finance, etc.

●

Support for negotiation of basic agreements and project agreements●

Formation of SPC●

Support for preparation and negotiation of project-related agreements(service agreements and contracts)

Energy & Infrastructure
Practice

Services for financial institutions●

Examination of project structures and analysis of legal risks●

Assistance in preparation and negotiation of project f inancing
agreements (including loan agreements, security agreements, sponsor
support agreements, and direct agreements)

Support for infrastructure businesses overseas
In addition to our principal office in Tokyo and other offices in Japan(Osaka, Nagoya, Fukuoka, Takamatsu, and Sapporo), we have overseas
oﬃces in Beijing (opened in 1998), Shanghai (opened in 2005), Singapore(opened in 2012), Yangon (opened in 2014, and renamed as Myanmar
Legal MHM in 2020), Bangkok (opened in 2015, and renamed as Chandler
MHM Limited after integrating our practices in Thailand with Chandler &Thong-ek Law Oﬃces in 2017), Ho Chi Minh City (opened in 2018), Hanoi(opened in 2022), Jakarta (ATD Law in association with Mori Hamada &Matsumoto opened in 2023), and New York (opened in 2023). The firm
has also created close alliances with other leading law firms in East, South
East, and Southern Asia.

M ORI H AMADA & M ATSUMOTO- 13 -

We have also been directly and actively involved in project formation
through participation in various public-private councils and close
relationships with ECAs, public-private investment funds, and independentadministrative agencies, etc.
As described above, we provide legal services tailored to the needs of ourclients both in Japan and other Asian regions and have the structures inplace to support business expansion in Asia. Our services include:●

Support for establishment of local legal systems●

Advice on local legal systems and regulations●

Examination of project structures on the side of employers, preparationof tender do c u ment s , a nd a g re ement negot iat ion s for lo c a linfrastructure projects●

Feasibility studies, bidding on the side of business operators, agreement
negot iat ions , a nd a ssista nce i n lega l due di l igence for loc a linfrastructure projects

Energy & Infrastructure
Practice●

Assistance in project finance●

Advice on establishment of local corporations, and licenses, permits
and approvals, etc.

●

Support for amendment of agreements or handling of disputes during
construction and operation of local infrastructure projects

Natural Resources
Natural resource businesses are booming across the globe, and in addition
to research and development in the seas around Japan on resources suchas methane hydrate and rare metals, there have also been moves toward
development projects and establishment of supply chains related to bluehydrogen.

The firm has developed a framework through which we utilize ouroverseas oﬃces and a robust, global network of allied local law firms to
respond swiftly to issues related to legal systems in countries that are

M ORI H AMADA & M ATSUMOTO- 14 -

major producers of resources, resource transactions, and legal systems
related to such transactions.

Our lawyers have extensive expertise inlegal services for all facets of supply chains relating to general resources
such as iron ore, coal, copper, nickel, rare metals, natural gas, andpetroleum and for globally expanding hydrogen-related businesses,
including exploration, development, production, liquefaction andvaporization, CCS, import and export, domestic transportation, and saleand are well-versed in legal work related to resource businesses.

Environment
Global warming and climate change are some of the most serious
problems modern society faces, and developing measures to counter theseissues is a pressing concern for the international community.

Energy & Infrastructure
Practice

SDGs and ESG have become increasingly important to decision making inboth the corporate and public sectors, as well as to investment andfinancing decisions by financial institutions and institutional investors. We
work in close cooperation with the ESG/SDGs Practice Group and theEnergy and Infrastructure Practice Group, among others, to provide legal
support for initiatives undertaken by companies, investors, and local
governments from the above perspective.

Moreover, led by the firm's Environmental Law Practice Group, we havebeen actively involved in risk management in the area of environmental
laws. Specifically, we oﬀer advice on the creation of internal complianceprograms and provide a variety of research and advice on environmental
laws. MHM's environmental law specialists are often actively involved innegotiations in real estate and M&A transactions. We also have extensive
experience in dispute resolutions involving environmental issues,particularly environmental disputes involving real estate and M&Atransactions.

M ORI H AMADA & M ATSUMOTO- 15 -

Awards and Rankings
Featured here are just some of the many awards and industry-related rankings that havebeen received by the Energy and Infrastructure Practice Group and its individual members.

Chambers Asia-Paciﬁc 2023

Chambers Global 2023

Mori Hamada & Matsumoto is ranked

Mori Hamada & Matsumoto is ranked

in the top tier of recommended

in the top tier of recommended

law firms in 29 practice areas,

law firms in 12 practice areas,

including a Band 1 ranking in the

including those listed below, and"Projects & Energy" area for the

32 of our lawyers are recommended

seventh year in a row. The firmin their practice areas, includinghas 61 lawyers who are recommended

those named below.

in their practice areas, including

Banking & Finance (Band 1)

those named below.

Masanori Sato
Takahiro Kobayashi
Hiroki Aoyama

Projects & Energy (Band 1)

Takahiro Kobayashi
Shigeki Okatani
Yusuke Suehiro
Yusuke Murakami

Capital Markets: J-REITs

Yasuhiko Fujitsu
Taro Omoto

Banking & Finance (Band 1)

Masanori Sato
Takahiro Kobayashi
Hiroki Aoyama
Capital Markets: J-REITs

Yasuhiko Fujitsu
Taro Omoto

M ORI H AMADA & M ATSUMOTO- 16 -

The Legal 500
Asia Paciﬁc 2023

IFLR1000 2023
Mori Hamada & Matsumoto is ranked
in the top tier of recommended
law firms in the areas of "Project
Finance" (10 years in a row) and"Project Development" (6 years ina row), and the lawyers named
below are recommended in theguide.

Mori Hamada & Matsumoto is ranked
in the top tier of recommended
law firms in 29 practice areas,
with the "Projects and Energy"
area being ranked in the top tierfor the eighth year in a row. The lawyers
named below are recommended inthat area.

EnergyHighly Regarded:

Takahiro Kobayashi
Takeshi Mukawa

Projects and energy (Tier 1)
Leading Individual:

Takahiro Kobayashi
Naoki Ishikawa
Shigeki Okatani

Project Development (Tier 1)
Highly Regarded:

Takahiro Kobayashi
Shigeki Okatani

Next Generation Partner:

Yusuke Suehiro
Yusuke Murakami

Project Finance (Tier 1)
Market Leader:

Hiroshi Maeda

Rising Star:

Highly Regarded:

Hironobu Noma

Takahiro Kobayashi
Takeshi Mukawa
Shigeki Okatani
Yusuke Murakami
Notable Practitioner:

Mihoko Shima
Rising Star Partner:

Yusuke Suehiro
Banking (Tier 1)
Market Leader:

Hiroshi Maeda
Masanori Sato
Highly Regarded:

Takahiro Kobayashi
Takeshi Mukawa
Hiroki Aoyama
Notable Practitioner:

Toshifumi Ueda
Banking and FinanceRising Star Partner:

Kei Shirakawa
Yuki Matsuda
REIT
Highly Regarded:

Taro Omoto

M ORI H AMADA & M ATSUMOTO- 17 -

asialaw 2023-24
Mori Hamada & Matsumoto is featured as an "Outstanding" firm based on overall ratings,
and is also evaluated very highly in 21 practice areas and 21 industry sectors,
including the areas of "Energy" and "Construction." We have 48 lawyers
who are recommended in their practice areas, including those named below.
Energy (Outstanding)Distinguished Practitioner:

Takahiro Kobayashi
Infrastructure (Recommended)
Elite Practitioner:

Hiroshi Maeda
Banking and Finance (Outstanding)Elite Practitioner:

Masanori Sato
Distinguished Practitioner:

Naoki Ishikawa and Hiroki Aoyama
Notable Practitioner:

Shigeki Okatani and Yusuke Suehiro
The 2024 edition of The Best Lawyers in Japan™
The firm has 152 lawyers selected as "The Best Lawyers" in a variety of areas,
including the members of our Energy and Infrastructure Practice Group listed below.
Energy Law

Takahiro Kobayashi, Hiroko Yotsumoto, Shigeki Okatani,
Mihoko Shima, Yusuke Suehiro and Hironobu Noma
Project Finance and Development Practice

Takahiro Kobayashi, Takeshi Mukawa, Naoki Ishikawa,
Shigeki Okatani, Yusuke Suehiro,
Yusuke Murakami and Hironobu Noma
Banking and Finance Law

Masanori Sato, Toshifumi Ueda, Takahiro Kobayashi,
Naoki Ishikawa, Hiroki Aoyama, Shigeki Okatani,
Mihoko Shima, Yoshihito Kuramochi, Yusuke Suehiro,
Yusuke Murakami and Kei Shirakawa

M ORI H AMADA & M ATSUMOTO- 18 -

M ORI H AMADA & M ATSUMOTO

Public Relations
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