Chapter 706 Toshiba

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But there's more to come. A few days after Wharf Group acquired CLP Holdings, it formally submitted an application to Toshiba Group.

Toshiba's name is familiar to the whole world.

Toshiba, which is part of the Mitsui Group, is the largest semiconductor manufacturer and the second largest general motor manufacturer in Toei. The business areas include digital products, electronic components, social infrastructure equipment, home appliances, etc. Since the 80s of the 20th century, Toshiba has transformed from an enterprise with household appliances and heavy motors as the main body to a comprehensive electronic and electrical enterprise including communications and electronics. In the 90s, Toshiba made rapid progress in the fields of digital technology, mobile communication technology, and network technology, and successfully transformed from a giant in the home appliance industry to a pioneer in the IT industry.

In the glorious period of the eighties and nineties of the last century, Toshiba was the crown of Dongying industry along with Hitachi, Sharp, Sony, etc., and its technology and market share were unique in the world. However, after entering the 21st century, with the recession of Toei's economy, Toshiba's glory is like a yellow flower of yesterday, and it is gone forever.

In particular, after a major mistake in the acquisition of the American nuclear power giant Westinghouse, Toshiba has now accumulated losses of more than $20 billion. The Fukushima nuclear power plant incident has cast a shadow over the world's civilian nuclear power, and it has also dealt a heavy blow to Toshiba and Westinghouse, the world's largest and most advanced technologies.

So much so that Toshiba, which was once a global leader, has entered a state of insolvency when it enters 2017. not only sold his office building, but also sold the home appliance business to Midea. Moreover, it also filed for bankruptcy of its subsidiary Westinghouse Electric in the United States; Now, in order to repay the debt, it plans to sell its most profitable flash memory production business in the world.

It can be said that Toshiba has reached its most depressed time after World War II. However, even so, the business and public opinion circles are generally not optimistic about Wharf's acquisition.

Because Toshiba is not just a manufacturer of semiconductors and motors. It is also one of the top 10 arms dealers in Dongying, and a major supplier of military software and hardware such as military missiles, military radars, military sensors, and central command systems, air defense command systems, and infrared application systems.

In addition, Toshiba has the world's most advanced 'boiling water reactor' nuclear power technology, and Westinghouse has the world's most advanced 'pressurized water reactor' nuclear power technology, and the latter is also the maintainer of half of the civilian nuclear reactors in the United States.

Even if it is a military enterprise and a high-tech enterprise, it is impossible to be acquired by a Chinese company no matter how you look at it in the past.

But what is surprising is that Toshiba did not reject the acquisition of Wharf. Moreover, the day after the talks between the two sides began, the decision to sell the flash memory business was cancelled. With the exception of Westinghouse, which is still in liquidation, all negotiations to sell off the company's assets have been cancelled.

Just when the business and public opinion circles are talking about this, and various financial news commentaries are speculating about this acquisition. Wang Zheng came to the capital again.

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"All the financial news and media newspapers are predictions about your acquisition of Toshiba!"

After the words fell, Shen Hongwei threw the newspaper on the low table in the middle.

"Unsubstantiated reports like this. Dad, don't look at it. If you want to know anything, you might as well ask me directly! Wang Zheng said with a smile.

"Isn't that what I'm asking you now?"

Wang Zheng was slightly stunned, and said with a smile: "I really can't adapt to your style of speaking in officialdom." Say three points, and the remaining seven points have to be guessed! ”

"I don't like it either, but after years of being in it, I can't change it." After a pause, "Tell me, how did you come up with the idea of acquiring Toshiba this time?" ”

"Actually, the reason is not complicated. Toshiba has strong R&D strength and technical reserves in the semiconductor industry, especially in flash memory and chips, which happens to be able to make up for the lack of Shennong Technology and Lenovo. In addition, I am optimistic about the development potential of nuclear power. Toshiba happens to be the world's top company in the production and maintenance of nuclear power equipment, the manufacture and processing of nuclear materials, and the construction of nuclear power plants. Moreover, Toshiba has strong R&D capabilities and technical reserves in software, public utilities, industrial equipment manufacturing, community and office equipment, etc. The reason why it is declining like this is due to the influence of the Dongying economy, and the other is the mistakes of policymakers. Of course, bad luck is one thing! ”

If it weren't for the Fukushima nuclear leak, Toshiba wouldn't be where it is now.

Shen Hongwei nodded knowingly, then pondered for a moment, "I admit that nuclear power is the future, but now its situation is very delicate. Are you sure you can make a profit after a successful acquisition? ”

"Rest assured! As long as the acquisition is successful, I will be able to turn it into a profit. ”

Looking at Wang Zheng's confident face, Shen Hongwei was curious: "So confident? ”

"Hehe, Dad. The Buddha said: Don't say. By the time the dust settles, you'll understand! ”

"Alright! In that case, I won't ask, it's good if you have faith. But Toshiba is not an easy company to acquire! ”

"I know! I'm well prepared! ”

Shen Hongwei nodded, "I heard that your Times and Wharf are still in contact with China Resources and COFCO recently?" ”

"Yes!"

"The movement is still very big, even the prime minister is alarmed?"

Wang Zheng nodded.

"I plan to reduce the scale of Wharf Real Estate and Defeng Real Estate in the domestic real estate industry, and sell Times Hotel Group by the way."

"Why? Although the domestic real estate industry has passed the peak period, it is still in the dividend period and has not declined! Shen Hongwei frowned.

"Definitely. However, the profit margins are already very low. After sighing slightly, "If the rise in housing prices is only limited to first- and second-tier cities, then the domestic real estate industry still has a lot to do." But now the third and fourth-tier cities have seen a sharp rise in housing prices, which has pushed down the profitability of domestic real estate very low. Now that the state has strengthened regulation and control, the property tax will be introduced. It is foreseeable that in the future, real estate will enter a period of meager profits for the integration of giants. Instead of betting a large amount of money in it, it is better to withdraw early and invest in more lucrative industries and directions. ”

"Are you planning to quit the real estate industry?"

"Nope! … It's just a matter of making the necessary integrations. After this business adjustment, Defond Real Estate will become the real estate division of Wharf Real Estate. Later, Wharf only did large-scale projects such as urban complexes, old city renovation, urban village renovation and Taoyuan Town in China, and abandoned single real estate and office buildings. ”

"And what about the property you already have?"

"The community that has not yet been sold is being built, and all the land reserves have been transferred. Only the six urban villages in Yangcheng and the residential part of the 'Baishizhou' urban village reconstruction project in Pengcheng will remain, only the 'hilltop combination' will be left in Xiangjiang, and the residential projects in Nanyang and Australia will remain unchanged. Completed residential properties are retained and subsumed under the property management department of Wharf Land. ”

"Wharf Real Estate only retains shopping malls and office buildings in the core areas of first- and second-tier cities. Hotel properties in first- and second-tier cities, as well as office properties in third- and fourth-tier cities, are all sold. ”

"With so many assets, it adds up to a lot of volume, right?"

"Defond Real Estate's real estate property is 150 billion; Times Hotel Group has 759 hotels in 'Jinhua' and 'Fuhua', with a 36% property ownership rate and 100 billion Huaxia dollars; In addition, in addition, about 5 million square meters of office property sold by Wharf Properties; The combined value of these three assets is 320 billion Chinese coins. ”

"Didn't I remember the Peninsula Hotel?"

"In order to acquire CLP Holdings, 55 billion Hong Kong dollars were sold to the Kadoorie family."

Shen Hongwei said suddenly, "I said how can they be willing to give up CLP Holdings to you Wharf, the relationship is that there is a deal in the middle." ”

"Jews are shrewd. Don't come up with what they want. Even if there is a relationship, they are not willing to give in. Wang Zheng nodded and said.

"What do you want to exchange from China Resources and COFCO?" Shen Hongwei nodded approvingly.

Considering that the other party was his father-in-law, Wang Zheng did not hide it.

"China Resources Gas; China Resources Beer, China Resources Wufeng, China Resources Beverage; shopping malls, supermarkets and retail outlets including Wanjia Supermarket, Suguo and Ode to Joy; As well as shopping malls and department store center units in urban complexes such as the MixC and Colorful City! As for COFCO, I want the properties of the eight shopping malls in their Joy City project, as well as their stake in Mengniu. ”

"Your appetite is really not small!"

After listening to the half-sound, Shen Hongwei sighed and sighed slightly.

"Dad, we have a big appetite though. But there are also a lot of things that come out. Moreover, the market value of China Resources Gas is only 50 billion, China Resources Retail and all the retail departments under China Resources are only 50 billion, and as for the MixC, only six have been built, and the remaining 17 have not yet opened; Three of the 17 Vientiane City have opened. Although these large-scale projects with an area of hundreds of thousands, or even millions of square meters, are the core of CR Land, we do not plan to have them all. It's just one of the properties in the shopping mall. ”

"The shopping mall is the core unit of CR Land's MixC and MixC portfolios, and they may not be willing to sell it to you. In addition, now that your Times Group has strengthened its investment in the food industry and has become a competitor with COFCO, Mengniu and Joy City Shopping Center may not be willing to cooperate with you. ”

"I know that. However, since I made a move, I was also fully prepared. ”

Looking at his expression, Shen Hongwei smiled and said, "Can you tell me?" ”

"Hehe, of course! Actually, I asked the Wang, Huang, and Long families in the capital for help! ”

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