Japan, March 1993.

Affected by the downturn in the Japanese stock market, the market value of Xinfei Electronic Technology Co., Ltd., a subsidiary of New Capital Electronics Group, fell below $15 billion.

The Japanese media and investors have even more overwhelmingly ridiculed, believing that Xinfei Electronic Technology will become a failed technology company. Many Japanese media, for the Japanese economy has not yet been a little pressing, still feel that the advantage is great, after the Japanese company obtains the patent authorization of Xinfei, will be able to come out of the blue, snatch the share of Xinfei electronic technology.

Although CD-ROM technology has been regarded as the standard equipment of computers, desktops and laptops generally have pre-installed CD-ROM drives, which can be used to install software or read data. Every day, the CD-ROM drive market alone ships more than 300 million sets. The market size is more than $20 billion! In addition, the CD market is also more than $10 billion, and basically, major software manufacturers and consumers need to purchase optical discs to burn software or write input into optical discs for storage.

If this market is monopolized by a company, the future is naturally limitless. But...... Under pressure from the U.S. government, Xinfei Electronic Technology Co., Ltd. opened up its patents and licensed them to a bunch of competitors in Europe, the United States and Japan, although it could obtain some patent fees, its own market share had dropped to about 30%. Several large consumer electronics companies in Japan have taken away 50% of the market share.

It is precisely because of this that the Japanese media honey is confident, and they have felt that Xinfei Electronic Technology Company pills.

Lin Qi also saw the relevant article in Hong Kong, and after being silent for a long time, he called the girl on the island: "Son, I'm Lin Qi!"

"Boss, I'm Uejima, is there something wrong?"

"The stock price of Xinfei Electronic Technology Company has hit a new low!"

"I know, but the operation is normal, and it will not affect the normal economy because of stock price fluctuations. In fact, it was only the Japanese stock market that was sluggish all day that we were led into the pit. ”

"My opinion is...... Now when the stock is low, buy more cheap stocks in the market and then ...... Let's privatize and delist!" Lin Qi said very indifferently.

"What...... Privatization and delisting?" Uejima was a little confused. After all, privatization and delisting is to spend a large sum of money to buy back the stock prices of other shareholders in the market.

"Yes! Previously, when the company needed funds for development, it was right to go public and raise funds. However, now that Japan is listed, it has lost its financing function, and even if it agrees to a stock pledge loan for a listed company, it is still a very low valuation. Lin Qi said indifferently, "And Xinfei Electronic Technology Company, I think it's more than that, so ...... Now when the market stock price is low, privatization and delisting is very cost-effective!"

"But......" Uejima hesitated a little...... Many investors have not yet had illusions, and when the bull market is in the future, they will earn back with profits. However, if the privatization is delisted now, can those investors agree?

"There's nothing!" Lin Qi said, "Now, the Japanese branch is raising some funds to buy back some shares." Xinfei Electronic Technology Co., Ltd. can also use its own funds to repurchase shares, and the repurchased shares can be used as equity incentives for management, but this incentive is cashed out after the company's privatization and delisting. With a market capitalization of less than $20 billion, how many tradable shares can be repurchased, so as not to have too many dreams at night!"

"Yes!" Uejima didn't hesitate any longer.

Originally, Lin Qi did not make a plan for privatization and delisting, but this time it was just because he was unhappy, so he wanted to get through privatization and delisting.

After the delisting, the new venture electronics group company licensed the black technology DVD and DVD-ROM to the new electronic technology company.

In fact, the technology is already mature in the laboratories of DVD and DVD-ROM, the new venture electronics group. The reason why it has not yet been popularized is mainly because the CD-ROM and VCD market can continue to be profitable. The market for old technology has not yet been thoroughly popularized, and promoting new technology can actually maximize the benefits.

The maximization of benefits should be to squeeze out the market potential of the old technology, and then squeeze out the new technology like toothpaste.

Historically, VCDs and DVDs were launched a few years apart, resulting in the VCD market being defeated by DVDs before they were developed. Therefore, in the entire VCD camp, none of them can really get out of the whole thing.

In this world, Xinfei Electronic Technology Co., Ltd. has launched VCD and CD-ROM technology and has made money for at least more than ten years. The innovation in the field of CD-ROM and VCD over the years is basically pretending to be an innovative squeeze toothpaste. The real innovation of DVD technology is hidden in the laboratory, secret.

This is also for the CD-ROM and VCD industry to make more money, and only after the profits of the market are squeezed out of energy, they begin to be replaced by more advanced technology.

Historically, DVDs are also a product of the 90s, so it is now a time node that has to be released, and if it is released late and replaced by other similar technologies, it will be sad!

Of course, the release of DVD technology is not now...... But after the delisting of Xinfei Electronic Technology Company!

As Lin Qi began to lay out, he registered new patents for DVD-related technologies in the laboratory. The patents are basically held by Xinchuang Electronics Group, and after the privatization and delisting of Xinfei Electronic Technology Company, the market development rights of these technology patents will be handed over to Xinfei Electronic Technology Company.

……

Compared with the great bull market in the 80s, the Japanese stock market in the 90s and even in the 21st century was relatively bleak.

If you calculate from September 1950, after the war, when the Nikkei 225 Index was compiled, 176.2 yuan (the Nikkei Index changed its statistical method several times, at first it was the average stock price of 225 large companies, and later imitated the Dow Jones and changed to an index) as the base, and by December 29, 1989, it once rose to 38,957.44 points.

In other words, the Japanese stock market has achieved a return of 221 times in just 40 years after the war. As of December 29, 89, investing in any asset in Japan, such as stocks and real estate, can easily achieve a rate of return that exceeds that of other markets.

But...... In the 90s, the style of painting changed suddenly!

In 90~92, the worst decline in the first three years directly caused the Nikkei to fall to 14309.41 points, and as of August 92, the decline was as high as 63.2%.

Since then, the Japanese stock market has not returned to the heights of '89. On the contrary, it was more than 10,000 points in the entire 90s, and in 97 years, due to the prosperity of the global market, it once exceeded 20,000 points, which made many Japanese investors have illusions. I think that 20,000 points is just the beginning, and we will definitely be able to make a comeback in the future and reproduce the long-term bull market of the year......

However, in 98, hit by the Asian financial crisis, the Japanese stock market once again reported that it had resumed its plunge mode, falling to more than 12,000 points. Then, in 2000, it was infected by the bubble of US technology stocks, and then returned to 20,000 points, which rekindled the hope of investors...... However, after the collapse of the NASDAQ bubble in the United States. Japan's stock market crashed again, falling to 13,000 points in 2000 and below 10,000 points in 2001, a new low. In 2002, it fell again to 8,000 points...... In 2008, well, it was another financial crisis, and of course the Japanese stock market had to admit that it fell below 7,000 points, with a minimum of 6,994.90 points......

However, Lin Qi does not think that it is more cost-effective for Xinfei Electronic Technology to delist at the lowest point in 2008. Because...... In the future, Xinfei Technology Company can actually grow, which is completely different from a large number of Japanese companies whose performance has been stagnant for decades.

Even in the 21st century, the Japanese stock market as a whole will be delisted at a lower valuation. The market value of Xinfei Electronic Technology may be much more expensive than it is now. This is because, even during the stagnation of the Japanese economy, there were some fast-growing companies that saw a hundredfold increase in market capitalization. At the end of the day, it is the general trend environment that determines the market value in the short term, but it is the company's own operation and growth that determines the market value and valuation in the longer term. Companies that can continue to grow, even if they have a long-term bear market for decades, can still rely on their own sustainable rapid growth to drive stock prices and market capitalization to new highs.

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