KDDI Enters Into Capital Alliance With Coincheck

Paul, Weiss advised KDDI Corporation, one of the largest telecommunications companies in Japan, on its capital alliance with Coincheck Group N.V., a NASDAQ-listed Dutch public limited liability company providing digital asset trade execution, custody, staking and asset management services. Under the deal, KDDI acquired 14.9% of the issued and outstanding ordinary shares of Coincheck through the issuance of new shares, and has the right to nominate one individual to the Coincheck board as a non-executive director.

Concurrently, KDDI entered into a business alliance with Coincheck Group subsidiary Coincheck, Inc., one of Japan’s leading cryptocurrency exchanges, to advance collaborative initiatives aimed at expanding the digital asset market in Japan.

The Paul, Weiss team was led by corporate partners Tong Yu and Ari Nishitani, and counsel Makoto Nishigai; and litigation partner Jacobus Schutte, counsel Sam Kleiner and associate Jacob Wellner.