Chapter 58: The Barbarian at the Gate
"River Plate Fund?
"It seems to be a very famous foreign fund, and it seems that the stock of Toshima Construction has been saved!"
"But...... At this time, how can anyone be willing to jump into the fire pit of the construction of Toshima?"
"Who knows, those guys from the fund company are all shrewd to death, can't they see that the construction of Toshima is a fire pit? There must be some logic in this to make money!"
……
Just when the owners in the audience were discussing the acquisition of shares of Toshima Construction by the River Plate Fund. Hosokawa Kiyofumi on the stage sensed a bad premonition. Unexpectedly, the River Plate Fund did not wait for the reply of the board of directors of Toshima Construction to start working. Why are they in such a hurry?
"Wait a minute, why don't we know about the transfer of Toshima Construction shares by the Central Bank of Tokyo?"
Hosokawa saw the excitement in the audience and felt that this matter should not be so simple, so he hurriedly picked up the microphone and directly questioned Robert Taka, who had just announced the news.
"This matter was agreed upon by me and Senior Managing Director Shirakawa last night, and it has been authorized by the Board of Directors of the Central Bank of Tokyo early this morning, and from now on, the River Plate Fund will take over all the shares of Toshima Construction held by the Central Bank of Tokyo by acquiring debt and equity...... And, in order to demonstrate the sincerity of our acquisition, the River Plate Fund has also developed a well-thought-out reform plan to help Teshima Construction emerge from the current crisis......"
"The River Plate Fund is fantastic!"
"Now the construction of Toshima has been saved!"
"Rest assured, we will support the reform plan proposed by the River Plate Fund!"
……
While many investors in the audience regarded the River Plate Fund as the savior of the construction of Toshima, some other major owners, except for the Central Bank of Tokyo, were watching the development of the situation on the sidelines. Although the previous shareholding of Toshima Construction seemed to be very dispersed, it has been firmly controlled by the Toshima family and other companies that have a cooperative relationship with Toshima Construction. For these important owners of Toshima Construction, although the Riverplate Foundation's behavior this time seems to be generous, it is actually a very rude and barbaric act.
Among the top major shareholders of Toshima Construction, the concerted actors represented by the Toshima family held 12.5% of the shares, while the second largest shareholder, the Bank of Tokyo, originally held about 10% of the shares. The rest of the companies, including Kanegawa Building Materials, Otomo Heavy Industries, Kanda Steel, and Shinkawa Department Store, which have close cooperation with Toshima Construction, also hold a considerable amount of Toshima Construction shares. Because of this, although the domestic construction contract industry market is shrinking year by year, these companies related to Toshima Construction have been secretly watching for Toshima Construction.
Together, these long-term holders of Toshima Construction hold about 43.7% of the shares, while the remaining shares are scattered among various institutional and individual investors. In addition, there are some bonds that Toshima Construction has previously issued that can be converted into shares, which have always been in the hands of the Central Bank of Tokyo, and if you count those, it is likely that the River Plate Fund now owns about 11% of the shares of Toshima Construction, which is almost equal to the part of the shares left by the founder of Toshima Construction in the hands of the Toshima family.
"President Hosokawa, this time because of the suddenness of the incident, I made my own decision before I had time to notify you of the board of directors, so I'm here to say sorry to you next!"
"Wait a minute, what is the reason for your fancy about Toshima Construction? I and the board of directors will not be able to accept such a 20% layoff. ”
"20% layoff?"
"No, you're going to lay off so many people!"
"It's really good, and the financial pressure on the construction of Toshima will definitely be reduced a lot!"
……
I heard that Hosokawa Kiyofumi poked out the idea that the River Plate Fund intends to let Toshima Construction lay off 20% of its workforce. The plant owners who had been quiet in the audience had a heated discussion again. Most of the small and medium-sized shareholders applauded the bold reform measures of the River Plate Fund, while the key owners who had held the shares of Toshima Construction for a long time took a look at each other and took a reserved attitude towards the plan of the River Plate Fund.
In the final analysis, in addition to the central bank of Tokyo, a financial company, other major investors such as Kanegawa Building Materials, Otomo Heavy Industries, Kanda Steel, and Shinkawa Department Store are all companies that make their living from running businesses, and the leaders of these companies are well aware of what a 20% layoff would mean for Toshima Construction. If nothing else, the first to be laid off by River Plate must be those who are about to retire to receive enterprise annuities in their fifties and sixties, most of whom are receiving a lot of salaries because of their age, but they are not as motivated as those young people with lower salaries. Although in the eyes of those layman investors, these people should be counted as a burden to the club. However, only the president who is really familiar with the industry will understand that everyone will grow old one day, and only by protecting the interests of those elderly members can those young members dedicate their lives to the company with peace of mind. This is something that financiers who only look at numbers will never understand.
"Please be quiet...... While it is true that our plan includes layoffs, we are doing this precisely so that the bloated Toshima construction company can get rid of its burdens and move forward lightly. Including the time of the high-speed rail crisis, if the proposed reform plan is approved by the board of directors, the River Plate Fund will provide a guarantee for the construction of Toshima, and the Central Bank of Tokyo will reconsider cooperation with the construction of Toshima. ”
……
"It seems...... That Mr. Robert Taki of the River Plate Fund finally made a move!"
Sitting in the last row of the venue, Lin Xiuyi and his subordinates watched the show with cold eyes, secretly thinking about what was brewing behind all this.
In this case, the reason why the River Plate Fund suddenly bought the shares of Toshima Construction may be related to the Takeshita Works Store. ”
"It seems that this is exactly the case, but we don't know exactly what kind of plan is between Takeshita Works and River Plate Foundation! But I investigated the Shirakawa manager a little, and it seems that he and Takeshita Works' Mori staff are in the same class as Todai?"
"The police department, is it the one who really wants to buy Toshima Construction...... Is it the smallest of the five largest public works stores in Takeshita?"
Miki asked Lin Xiuyi in a low voice with some uncertainty.
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