Takeover offers and deals have been on the rise in Japan in recent months. Leading this trend, Kirin Holdings Company has initiated a $1.4 billion acquisition bid for Fancl Holdings, a Japanese cosmetics and health supplements business. Kirin, which already owns 33% of Fancl, aims to make Fancl a wholly-owned subsidiary, subject to approval from Fancl’s board. If successful, Fancl will delist from the Tokyo Stock Exchange. Major Japanese law firms such as Nagashima Ohno & Tsunematsu, Mori Hamada & Matsumoto, and Uryu & Itoga are advising on the deal.