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"Mr. Lin, why should Xinfei Electronic Technology be delisted from the Tokyo Stock Exchange? We very much welcome such a large international enterprise as you to be listed on the stock exchange, and Japan is the only developed region in Asia whose per capita income level has reached that of Europe and the United States, and it is beneficial to be listed on our list, and it can better represent the international level than that of Hong Kong!" After Lin Qi announced that he would be privatized and delisted, economic officials from the Tokyo Stock Exchange and Japan all went to Hong Kong to persuade him.

Because, in the early 90s, Japan also tried to build an international financial center, hoping to follow the example of the United States capital market, not only to attract local companies to go public, but also to attract more outstanding overseas companies to raise funds and go public. In this way, it is actually a multi-pronged victory, attracting more foreign companies to list in Japan, and in the long run, it can share the development dividends of more multinational companies. In addition, the shares of these large international companies are traded in yen, which also enhances the international influence of the yen, and the more excellent companies from different countries are listed, it is conducive to attracting more investment from the international market to invest in the Japanese market.

To put it simply, if this strategy is successful, then ...... In the long run, Japan's influence may rise to a higher level. Sadly, Japan's goal of becoming an international financial center was aborted by the lost 30 years of the 90s.

Not to mention the United States, it is also compared with Hong Kong's financial market. Japan's financial market is not international.

"Delisting is just a business!" Lin Qi said very indifferently, "Moreover, I do it in accordance with the rules of the international capital market! If some investors are unwilling to accept delisting, they can not sell! But investors who are willing to sell, I will accept all the orders according to the price of the tender offer! However, ...... As long as enough shares are acquired, then delisting is imperative!"

"Mr. Lin, if you do this, you are not afraid that you will have a negative reputation in the future, which will not be conducive to the company under your name and the future listing and financing plan?" An official of the Tokyo Stock Exchange of Japan advised bitterly, "You think, you are listed on the bull market! It has been eight years! For eight years, most investors have not made any money, but you have been delisted in the big bear market! Although you may have won the profits, what about morality? What about conscience? Won't conscience hurt? 25,000 yen per share will be issued, and 25,000 yen per share will be redeemed after 8 years! Is this the style of a company as big as yours?"

"I'm sorry, I'm already quite worthy of the market! Eight years ago, 25,000 yen, which was equivalent to 100 US dollars, is now almost 250 US dollars! In addition, we have paid a total of 5 billion US dollars in dividends, with an average annual dividend of 700 million US dollars!" Lin Qi said, "Compared with Japanese companies, how many companies can pay more dividends than us? Of course, delisting is only the need for my investment layout, don't think too much!" There are plans for privatization and delisting, and we will also invest in the Japanese market if possible in the future. Even, venture capital, which allows some companies to go public in Japan. ”

Is it that the "......" is still listed? Isn't it that when the market is good, the market will be sluggish, the big bear market will come, and there will be another wave of delisting?

Although for a capitalist like Lin Qi, whose conscience does not hurt, these Japanese officials have a deeper understanding of what a capitalist is!

As long as the profits are high enough, the capitalists will even take risks and break the law. What's more, privatization and delisting, this is not illegal, it's just that some small and medium-sized investors can't resist this practice and have no choice!

Therefore, I can only say that I can only ask him if his conscience hurts.

Lin Qi thought about it seriously and found that his conscience was actually not painful. It may be because he has stood on the position of capital for too long, so that he has regarded the legal cutting of leeks as a routine operation.

……

Since the 90s, the Japanese economy has lost at least three decades...... In the past 30 years, every decade has been steady and declining, which has been a hindrance to the development of global GDP.

Of course, if you compare the South Korean economy, you will find a miraculous phenomenon that many of the market shares that Japan has lost in industries have basically been stolen by companies such as South Korea's Samsung. If the growth share of Korea's large companies is returned to Japanese companies, which were previously dominant, there will be no such thing as losing 30 years.

Surprisingly...... The development strategy implemented by companies like Samsung is exactly the strategy that the Japanese government and enterprises are forced to abandon!

The reason why Japan began to stop the industrial promotion plan that had been launched since the 50s in the 90s and stopped the government-led subsidies to enterprises. In order to encourage the development of excellent enterprises, and in the competition in the world market, it has more advantages than other countries that have not been able to obtain government subsidies. After the state subsidizes certain industries, grabs market share at a loss, and squeezes competitors out of the market, it can do whatever it wants to obtain profits and feed other local industries. There is only one industry after another, and the market share has grown from negligible to monopolistic advantage.

In contrast to the Plaza Treaty, it is outside of the policy on the exchange rate of the yen. The long-term impact on Japan's economic development was the forced signing of treaties in which the government reduced its interference in industries and firms, allowing firms to compete with foreign companies on a so-called fair playing field in the world market. But...... As a result, most of Japan's once dominant industries have been unable to keep up with their competitors in technology and new production lines after the government withdrew subsidies.

Some international adversaries, such as South Korea, have adopted a strategy similar to that of Japan. That is, when the industry is fully loss-making, it will expand its production capacity on a large scale and dump it at a lower price than the price of its opponents, further forcing more competitors to withdraw from the market. When the industry warms up, weak opponents withdraw from the market, and Samsung, which has more market share, can rely on price increases to bring back the initial investment that once burned money and lost money to defeat the opponent. An industry expands its market share by burning money, and then makes a profit. Then gradually lay out other related industries.

The most ferocious period of Samsung's offensive began in the 90s. Because, in the 90s, Japanese brands were less and less on the shelves of the world market. Relatively speaking, the products of Korean brands represented by Samsung are more and more in the consumer market.

At the height of Japan's economy, Samsung's market capitalization was a fraction of that of Sony. However, after the recession in Japan, the rise of the Korean economy. Sony's market capitalization was only $10 billion at its lowest, which is a fraction of Samsung's. It was not until later that Japan's GDP with that of the United States increased by only about a quarter of the GDP of the United States, and the United States re-loosened its grip on Japan. Companies like Sony are gradually starting to turn around their losses.

In a sense, Japanese entrepreneurs, or entrepreneurs of any country, are blindly optimistic that the business level of entrepreneurs can surpass the general trend of the national economy and grow against the trend. However, in fact, the growth of most outstanding enterprises is more related to national fortunes.

If the national fortune is strong, everyone is like a dragon, a bunch of awesome entrepreneurs, and a bunch of mythical business strategies. The decline of the country's fortunes, many great enterprises and excellent enterprises that have been on the altar are not as good as chickens.

Capitalists like Warren Buffett, for example, say that companies are useless in predicting the future. They did not predict the expansion of the Vietnam War, nor did they know that the Soviet Union would collapse, nor did they predict the impeachment of Clinton...... However, these trivial things are not important. What's more, Buffett and others began to enter the market to invest, the United States has come out of the Great Depression and entered an extremely long wave of bull market, although the national fortune is not the most prosperous, but on the basis of historical accumulation continues to grow steadily, basically it can be said that the myth of people like Buffett is just the best of times, and has done something very suitable for him to do.

Many entrepreneurs around the world, although they have not chosen the direction of financial market investment. However, in a positive environment, there will always be a bunch of myths.

Therefore, in the first decades after the war, Japan was basically a generation of corporate heroes. Because, the national situation has bottomed out.

And after entering the 90s, gradually began, there were more and more losers, more and more reflections and frustrations.

In the past, it was easy for Japanese entrepreneurs to obtain financing in the market, whether it was from a bank loan or a stock market financing. However, in the 90s, the scale of stock market financing continued to decrease, and banks dealt more with previously accumulated bad debts, collecting arrears, and even false promises, and after entrepreneurs repaid the money, there would soon be new loans. As a result, many entrepreneurs borrowed a sum of money to repay the bank loans, and the new loans in the latter could not be received for a long time, resulting in the ashes of many huge enterprises.

I used to be friends of many businesses in the bank, but later, many bankrupt Japanese entrepreneurs reflected that they must not believe any promises made by the bank!

The reason why Lin Qi wants to privatize and delist Xinfei Electronic Technology Company from the Japanese stock market is that because the stock price is low, the market value is relatively low, and the cost of buying it back is cheap and cost-effective. More importantly, it is difficult for stocks listed in the Japanese market to obtain direct financing through the secondary issuance of new shares. The bank also refused, and used equity to pledge to lend to entrepreneurs. Because, many stocks were pledged to the bank, but as a result, the pledge price fell below the pledge price, and the lender was unable to add margin or repay the loan, resulting in the bank having to cut the collateral in its hand and sell it, not only was it difficult to earn interest, but even the principal of the bank loan was lost.

It is precisely for this reason that listing in Japan is really just a listing and a listing, which means that it means to be a listed company. There are no other benefits, and the stock price is relatively low, so why did you take the initiative to delist.

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