Leading independent Japanese firms

Atsumi & Usui: a niche player; strong on securitisation.

Andersen Mori: long-established leader in M&A.

Mitsui Yasuda Wani & Maeda: grown very quickly since it was established in the late 1980s. It has a Western approach to partnership in regards to decision-making and profit-sharing.

Mori Sogo: strong reputation in M&A, although very domestically focused. Also strong in securitisation. Has a close relationship with Linklaters & Alliance - one of its partners spent a year on secondment in the mid-1990s at the UK firm.

Nagashima Ohno & Tsunematsu: currently regarded as the market leader in M&A, it was formed in 2000 through the merger of niche capital markets firm Tsunematsu Yanase & Sekine and corporate player Nagashima & Ohno. Like Mitsui Yasuda Wani & Maeda, it also has a Western approach to partnership.