JP Morgan has cemented its position as the top Wall Street bookrunner in Japan after working on the initial public offering of media group Sony's insurance arm, which priced its flotation at the top of its indicative range to raise ¥356bn (€2.2bn).

Domestic bank Nomura is at the top of the equity capital markets and initial public offering bookrunner rankings for the year in Japan, while JP Morgan is well ahead of other western banks in the country over both categories, according to investment banking data provider Dealogic.