Tsutomu Kobayashi is a member of the Firm’s Finance & Projects Group in Tokyo. His work primarily involves energy and infrastructure projects, project finance related to such projects and other structured finance, including acquisition finance and real estate finance. Prior to becoming a lawyer, he worked at the Bank of Tokyo-Mitsubishi, Ltd. (currently MUFG Bank, Ltd.). For one year starting in mid-2010, he was seconded to Baker McKenzie's London Office and to the structured finance department of Sumitomo Mitsui Banking Corporation Europe Limited (London), where he handled energy-related project finance. The following year, he was seconded to the legal department of Shinsei Bank, Limited (Tokyo), where he engaged in general banking-related legal work.
Tsutomu focuses his practice on energy projects (eg, renewables and gas-fired IPP), infrastructure projects (eg, PFI/PPP) and project finance related to such projects. He also has extensive experience in structured finance matters, including acquisition finance, real estate finance, structured leasing and securitization/liquidation in addition to his expertise in trust law matters, financial regulations and general banking and finance law matters.
Representative Legal Matters
- Represented financial institutions, sponsors and investors in the development, operation and project financing of numerous energy projects, including renewable energy power generation projects (eg, onshore/offshore wind, solar and biomass) and large-scale gas-fired thermal power generation projects.
- Represented JAPEX, Mitsui & Co. and other sponsors in the development and project financing of a 1,180 MW natural gas-fired power generation project at Soma Port in Fukushima Prefecture, which won the Projects, Energy and Infrastructure Deal of the Year award at the Asian Legal Business Japan Law Awards.
- Represented MUFG Bank and other financial institutions in the project financing of a 1,080 MW Integrated coal Gasification Combined Cycle (IGCC) power generation project in Fukushima Prefecture.
- Represented a syndicate of financial institutions in a project finance transaction for multiple solar power projects on agricultural facility rooftops.
- Represented financial institutions, sponsors, investors and public sector entities in the development, operation and project financing of numerous PFI/PPP projects, including PFI projects related to government office buildings, school facilities, indoor pools, gymnasiums, civic halls, hospitals, satellites, vessels and other facilities, in addition to airport concession-type PFI projects.
- Represented a syndicate of financial institutions in a PFI transaction involving the construction, operation and maintenance of the Diet Members' Office Building — the largest ever PFI transaction in Japan at the time.
- Represented a syndicate of financial institutions in a PFI transaction involving the development, operation and maintenance of a satellite system.
- Represented a syndicate of financial institutions in a PFI transaction involving the purchase and operation of shipping vessels — the first ever PFI involving such vessels in Japan.
- Represented a syndicate of financial institutions in a going-private MBO transaction involving one of the largest Japan-listed leisure and amusement companies at the time in a deal which won the Debt Market Deal of the Year award at the Asian Legal Business Japan Law Awards.
- Represented a syndicate of financial institutions in a going-private MBO transaction involving a listed manufacturer of electrical equipment for specialized vehicles.
Professional Associations and Memberships
- Tokyo Bar Association - Member
- PFI Promotion Committee of the Cabinet Office - Expert Member (2020 - 2022)
- Japan (2004)
- University of Pennsylvania Law School (LLM) (2010)
- University of Tokyo Faculty of Law (LLB) (1998)
Publications and articles
- Co-author, "Fukushima Gets a Gas-Fired Solution," PFI Yearbook 2018, Thomson Reuters, December 2017
- Co-author, "Regulations Supporting Renewable Electricity Generation and Feed-in Tariffs in UK," MUFG BizBuddy, MUFG membership site, August 2011
- Co-author, "World Legal & Business Guide No. 3: The United Kingdom of Great Britain and Northern Ireland," Business Law Journal, LexisNexis, June 2011
- Presenter, “Project Finance for Offshore Wind Projects in Japan,” Offshore Wind Power Japan Conference Workshop hosted by the Centre for Management Technology Pte. Ltd., May 2019
- Presenter, "Important Points in Regulations and Contracting Practices related to Development of and Project Financing for Offshore Wind Power Projects," Seminar Info Co., Ltd., January 2020