Reborn in the Tokyo Bubble Era

Page 515

Iwasaki Ryunosuke jumped repeatedly in front of him, is he going to follow in his brother's footsteps this time?

Tao Zhiming smiled kindly: "As for Mitsui, it's inconvenient for me to continue to meet them openly. Brother Anzhai, you have always had a good relationship with Brother Nojima, so I'll let you do it for me."

Anzhai Shanwei cheered up: "Of course!"

If Mitsubishi is also planted, only Sumitomo, Mitomo, and Mitsui dominate the neon, how good would this be?

A group of people started to play new yin games again.

……

The truth is so tragic that the two people whose reputations are already extremely notorious are not completely imprisoned.

The case is being tried slowly, and they are all elderly people. It is normal for them to be released on bail due to physical reasons.

Sitting opposite Tanaka Sakae, Jin Shinmaru said with emotion: "Tanaka-san, your condition seems to be much worse than last year."

"People are always going to die." Sakae Tanaka smiled casually, "Kijima-san has already left, and you have made such a firm decision. How strange, do you trust that kid so much?"

Jin Shinmaru was silent for a while, and then said: "The situation has evolved to this extent, and we really need a purification inside. Of course, for that man...his judgment cannot be ignored. Now he puts everything on us , which is true."

"I have the same opinion as him." There was a meaningful smile on the corner of Tanaka's mouth, "Those people in the United States don't understand Xia Guo much better than us. I'm afraid Mr. Tao is also because he understands Xia Guo better, and he also firmly believes that the Democratic Liberal Party is always the best. They need it more."

"...I think it's more than that."

"Oh?"

Jin Xinmaru raised his head: "Tanaka-san, none of us are sinners. Our success or failure is inseparable from our wallets. Such things are so common among them, and in Neon, they can be used at any time to influence our fate. As that guy said, the era when Neon can get rid of the shackles is not now. What he is really optimistic about is that Xia Guo can become a new pole."

Those who listened remained calm.

"It doesn't matter!" Jin Shinmaru said firmly, "Even if his true inner position is not in Neon, it doesn't matter. What we need is that opportunity. Before that, the more important Neon is, the more it is needed , we can make some real preparations. Let those in the opposition fight for the benefits of face. Let us establish the real bond of interest!"

The two present here are quite fierce and a bit rebellious.Jin Xinwan's eyes were cold: "When it's time for the stray dogs to bark, they must use force! When it's time to wag their tails, don't hesitate! At any time, the real power needs to be preserved. As long as his foundation is always in the neon, he will It is impossible to ignore our core interests. Masahiro Ueda is not someone who would betray his family and country, he had a frank dialogue with me, and I was able to firmly believe in that guy!"

"Oh? What did Ueda-kun say?"

Jin Xinmaru showed a rare smile: "Ueda-kun said that he learned from Tao Jun that there are many ways to solve hatred. And if Tao Jun is really calculating the whole Neon one day, he will be the last one of Neon Hold the sword!"

"...Is it so bold?" Tanaka Sakae was stunned, and then he couldn't help laughing, "If that's the case, what's the use? Forget it, I'm afraid I don't have much time. I'll leave this kind of problem to you Deal with it."

After sighing for a while, his eyes became blank: "It's really difficult, the road to a country..."

……

Facing the supreme authority that is almost in their hands, Hosokawa Xi and others feel at ease in the wild.

Those responsibilities that you don't have to take on yourself can of course be lightly accused and opposed.

It's different now.

The victory can basically be announced, and it is confirmed internally that he will be recommended to form a cabinet, so he has to consider how to solve the immediate problem.

It is not that these issues have not been considered before, after all, they still need to declare their ideas and countermeasures to the citizens.

However, it is one thing to talk about it, but it is another thing to do it in practice, let alone new changes?

"I have met with Shiota-san, and everyone knows about Mitsubishi's plan." Hosokawa said, "Chairman Tao is going to Izu, and Sumitomo's attitude is obvious. Now, Mitsui has not yet answered when he will reconcile with me." Meet Ozawa-san."

Here, there are no people from Furong, Sanhe, and First Quanyin, only the core members of the parties who jointly form a cabinet with the opposition.

"In the current situation, the struggle between them cannot be stopped. The scale of bad debts announced by that guy Banze, even if the central bank has announced that it will issue special national bonds to support financial regeneration, it will not be able to solve all the problems. There must be The consortium is down!" A small party president said, "Besides, Miyazawa-san and the others must have the last blow! They can dig their own graves, so are they afraid they won't completely mess up the situation?"

"It's not good for us!" Another person said, "Even with Mitsubishi's support, Fuji Bank and Sanwa Bank have been asked to come up with practical solutions, and Daiichi Quanye Bank is only a little better. If there is not enough soon , a reasonable source of funds, the Financial Rehabilitation Committee is about to intervene in bankruptcy and reorganization matters!"

Hosokawa frowned.

This is just the first hurdle.

Only by keeping the pillars of the economy can we talk about revitalization, and it is possible to solve the current problems of unemployment and stagnant growth.

These things can never be achieved with the full support of Mitsubishi and Daiichi Bank.The latter is only in a slightly better situation than Furong and Sanhe, and they also need help.

"President Tao is also pushing back." Xi Chuanxi looked at Taro Ozawa, "San Ozawa, his situation is very delicate. After Miyazawa-san and the others do that, President Tao will continue to support Hashimoto-san to regroup in the future ?"

Ozawa Taro pursed his lips and remained silent for a while before saying, "I'll make an appointment to meet him in person again. This time, I'm afraid we'll use our real strategy to impress him."

Xi Chuanxi's eyes narrowed slightly: "Will he care about this? Wouldn't this false name become our expression of alienation between him and those external forces?"

"It depends on what he has gained from his previous visits. Since it is what we are going to do, it is fine to test him."

Xi Chuanxi and him looked at each other for a long time, then nodded silently: "If President Tao can change his position, then we can fully promote his reorganization with First Quanye Bank. He will be interested in persuading him in Yin."

"The first persuasion silver? Then Furong, Sanhe..." Someone couldn't help but speak.

Hosokawa looked around at people with different expressions, and finally he could only say: "We can only come one by one, and solve the simplest and easiest problems first."

Suddenly, all the people in the seat had strange thoughts in their hearts.

That's right, I'm afraid this time the consortium is doomed to fall, at least one name of the consortium will only remain in history from now on.

How can Furong and Sanhe not understand this situation?

"Stop talking stupid! What's the use of killing that Banzawa? Can our problems be solved?" Matsumoto Yasuhiro said indifferently, "What is needed now is money! Whether it is capital increase or financing, find out Find a way!"

Talking about money hurts feelings.

These directors are not without money, and they can at least solve two or three percent of the problem together.

If there are too many, it is impossible. If there are more, is it possible that they will become impoverished overnight just to support the development of the consortium?

What's more, [-]-[-]% of the funds can't solve the fundamental problem.

The hole is too big.

The requirements of the Financial Supervisory Office are justified, but even if it only meets the bottom line of the banking law, it is still very difficult for Fuji Bank at that time.

"If you want me to say, Kazuki Banzawa can't stay in that position anymore! Is this trying to solve the financial system problem or bury the neon economy? If it wasn't for him, it would be resolved slowly, and there would be fewer depositors running on their deposits. So difficult."

"Stop complaining!" Yasuhiro Matsumoto patted the table, "Say something stupid that he can't stay in that position, do you think we are still the Hibiscus consortium in the Showa era?"

"Matsumoto-san, you!"

With one stupid remark, there will always be someone who can't bear the grievance.

When a disaster is imminent, you will panic because there is no good way, and you will be irritable when you lose control of your emotions.

Consortiums like Furong are noisy inside, and big banks that are weaker than them, such as Changxin Bank, are even more panicked.

"Hashimoto-san's attitude is very obvious. If he saved us, he would have done that at the beginning!" Kazuo Fujiyama shook his head sullenly, "After Hosokawa-san and the others perform their duties, the special national debt has to satisfy Furong, Sanhe, Daiichi Bank demand. How many problems can we solve if we can only get part of the funds?"

There are too many monks and too little porridge, this is the status quo.

"Damn it!" The vice president of Changxin Bank squeezed the armrest of the chair tightly.

"I'm worried..." Fujiyama Kazuo gritted his teeth, "Hashimoto-san and the others will do even better."

"...What else could it be?"

"Completely reshape their image!" Kazuo Fujiyama's face was cloudy and uncertain, "It has been able to take back the supervision power of small and medium-sized financial clubs to the Financial Supervision Office, cutting off the future of many local middle-level backbones in the party. Let us do it and establish A resolutely innovative image of itself is not out of the question."

"...No way...Could it be that the Financial Regeneration Committee...will start with the bankruptcy reorganization of our Changxin Bank?"

"Very likely?" Kazuo Fujiyama's face was extremely ugly, "What else, than we, the direct descendants of the Ministry of Finance, being the first task that must be completed, can make it more difficult for Hosokawa-san and the others to control the Ministry of Finance and the Financial Supervisory Service? After so many years Come on, how many untouchable secrets do Changxin Bank and the Ministry of Finance have?"

The vice president was stunned.

"Miyazawa-san and Hashimoto-san...don't even want the last territory of the Ministry of Tibet? Can everyone let him do this?"

"No!" Fujiyama Kazuo hugged his head in distress, "They just have to announce this decision, and Hosokawa-san and the others have to do it. The citizens are so concerned, Hosokawa-san and the others cannot ignore it."

The vice president understood: "If we can't do well, let the Democratic Liberal Party come... At that time, the citizens will think so? But our ending, is it destined to be separated from the wings of the Ministry of Finance?"

If you really want to lose, some people think of face-to-face goodness.

The main reason is one point: if Changxin Bank is reorganized, it is naturally impossible for them to come from the Ministry of Finance.

The father has changed, how can the son not change?

Extra Story: The History of the Rise and Fall of Changxin Bank

[-]. Establishment: half of the national bank serving the needs of national policies

After the war, in order to revive the economy, Japan first rescued financial institutions.

Of course, in this process, the United States also has various considerations, and Japan's financial structure is still in turmoil.The chaebol has transformed into a consortium, and the government needs a financial institution that can actively respond to the needs of the cabinet, and deploy resources through financial means to quickly rebuild important industries.

In 1952, Hayato Ikeda, then Minister of Finance, convened the Financial Policy Committee, planning to use banks as the main source of financing and divide different financial functions into different institutions.Brokerage firms specialize in the stock market, city banks serve consumers and provide short-term loans to large corporations (consortium banks), trust banks specialize in asset management, and regional banks serve small clients.

That year, the Long-Term Credit Bank Act was passed, creating a whole new type of bank—the long-term credit bank.Ikeda believes that "long-term credit banks" should issue bonds to finance themselves and provide long-term loans to specific industries such as steel, shipbuilding, and electric power.

In this context, the pre-war semi-official Bank of Japan, Quanye Bank, was split in two, and half of it became an ordinary commercial bank, still using the name of Japan Quanye Bank (later merged with the First Bank in 1971, that is, the book First Quanye Bank).The other half was restructured into a long-term credit bank. The Ministry of Finance provided Changyin with 50% of the capital by subscribing for preferred shares. In the three years after its establishment, it also subscribed for 40% of all financial bonds issued by Changyin. .

In other words, Changxin Bank was originally a semi-official bank. After 1952, the unofficial businesses were stripped out, and the remaining Changxin Bank was almost his own son.Of course, Changxin Bank has to be obedient and operate in the form of long-term credit loans according to the government's policy needs.

In terms of loan investment, as a commercial bank with policy attributes, at the beginning of its establishment, Changyin mainly focused on industries that were in line with the "national interest" and obeyed the government's industrial policies, such as shipbuilding, electric power, steel, coal, etc. in the early days of World War II. industry, and later industrial production industries such as automobile manufacturing.

In Changyin’s view, only companies with government support and government policy guidance and their affiliated companies can survive in Japan for a long time.Therefore, in the actual credit business, Changyin often does not use the company's financial statements as the basis for judgment, but more considers the company's background and social relations.

In this book, Kumina Maehara was born as a long bank, and being asked by her boss to serve Gou Dalang is actually a manifestation of this long letter bank's focus on building relationships.Of course, the practice of other banks is no different.

[-]. Development, difficulties and hidden dangers

As the Japanese economy takes off, Changyin is also growing. In the early 20s, Changyin’s business developed rapidly. In 60, Changyin provided hundreds of billions of yen in funds for the domestic manufacturing industry. The lenders included Toyota, Toray Group, Kawasaki Steel, Tokyo Electric Power, Bridgestone Industry giants such as tires and Toshiba, at the same time, Changyin also helped these companies expand overseas.

In the mid-to-late 20s, after providing guarantees for Toyota's loan to the Export-Import Bank of the United States, Changyin realized the importance of overseas opportunities, so he sent staff to learn foreign languages ​​and went to overseas banks for training.In the future, the "international faction" in the management of Changyin, such as Katsunobu Onoki and Hiroji Hirao, will stand out after receiving overseas training during this period.

With the slowdown of the economy and the development of the direct financing market in the 70s, the demand for loans through Changyin became less and less, which threatened the long-term development of Changyin.Therefore, the "international faction" including Onoki Katsunobu began to advocate the reform of Changyin, and Onoki Kexin's proposal to transform the company into an investment bank has also been recognized by Changyin's senior management.

However, as a policy-oriented bank, due to the direct financial supervision of the Ministry of Finance, although the bank is still not allowed to intervene in bond and stock business in Japan, it can set up branches overseas to participate in bond underwriting in overseas markets.Therefore, Changyin plans to set up an "investment bank group" to develop new businesses such as bond trading, investment consulting and serial products.

In this book, Tao Zhiming, Stevenson and others plan to attack Changxin Bank from the outside and inside, which means attacking the overseas operations of the investment banking group of Changxin Bank from the outside, compressing their income and exacerbating their crisis .

Since 1985, with the continuous accumulation of Japanese real estate and stock bubbles, the efforts of Changyin's reformers have been diluted, and Changxin Bank's main energy has been placed in the country.The easy profits brought by the bubble economy made Changyin indulge in the bubble economy game, especially real estate became Changyin's new favorite.

From 1985 to 1988, Changyin's assets increased from 18.4 trillion yen to 22.6 trillion yen, a considerable part of which came from the substantial increase in real estate loans. In 1990, the market value of Changyin was 248 billion US dollars, ranking ninth in the world.

The madness of real estate has made Changyin's transformation into an investment bank less urgent. Compared with the restrictions and meager profits of investment banks, real estate loans are more profitable.

In this book, Changxin's middle management first urged Maehara Kumina to contact Tao Zhiming, just to make a real estate loan for the land for Takeda.Later, their loan to Tsutsumi was also mentioned.

Also mentioned a company, Takahashi Ye of EIE.

EIE (Electronics and Industrial Enterprise) was established in 1947. After Takahashi Harason took over the company, it became a trading company specializing in the import of electronic products. In the 20s, Takahashi announced the transformation of EIE into a real estate group. During the bubble stage, EIE purchased land and built hotels everywhere, annexing many assets in the world.

EIE's real estate business started with the purchase of the Hyatt Hotel in Saipan, and then bought a 1987% stake in the Royal Hotel Management Group in 30.Takahashi spends a lot of money, and he buys the hotel he likes directly. A cattle ranch in Hawaii is estimated at 2000 million U.S. dollars. Takahashi wants to build a hotel, so he buys it for 1.5 million U.S. dollars.In the height of the bubble in 1989, EIE moved into a costly new office building, and the company owned several private jets during the same period.

The real estate group EIE, which has a huge demand for funds, and Takahashi Osamu, who has a certain status in the upper class of Japan, have won the favor of the bank.In the project of the Hyatt Hotel in Saipan, Changyin and HSBC lent 300 billion yen.Changyin's loan to EIE has almost reached the point of unconditional approval. In 1990, EIE's total borrowings reached 7000 billion yen, and it became one of Changyin's 10 largest customers.

Changxin Bank was born to help the government quickly mobilize resources to specific industries, but it lost this role after the Japanese economy developed to a certain stage, and the Bank of Japan's window guidance was sufficient for deployment.

In this process, Changxin Bank is actually confused in what direction it should develop.Then Japan took off and the bubble economy came, and Changxin Bank fell into the pit of real estate loans and financial investment.

[-]. The crash process

Falling stock and real estate prices have also dealt a double whammy to Long Silver.

Real estate companies like EIE were hit hard after the economic bubble burst.Before the bubble burst, Changyin believed that real estate and stock prices were only temporarily falling, so it continued to make additional loans to EIE.In 1993, Changyin found that the problem of EIE was extremely serious, announced to cut off all ties with EIE, and admitted that half of the 1900 billion yen in successive loans could not be recovered. In 1995, the scandal of EIE bribing the government reached Congress, and Takahashi revealed at the congressional hearing that Changyin had funded the rescue of two credit unions. He had used these two credit unions to secretly continue to increase loans to EIE, and to politicians and gangsters. The act of providing loans.

At the end of March 1995, Changyin announced that the total amount of bad debts reached 3 billion yen, and used the annual profits to write off almost half of the bad debts. In the summer of 7840, the Ministry of Finance believed that Changyin’s risky loans amounted to 1996 trillion yen, accounting for 4% of the total loans, and one third of the risky loans could not be repaid.

Since then, Changxin Bank has frantically saved itself, but there has been no good way.

In late June 1998, Changxin Bank announced an alliance with Sumitomo Trust.However, Sumitomo Trust itself has a lot of bad debts, and Sumitomo Trust insists on the merger only after the government first removes the bad debts of Changxin Bank and injects public funds to keep Changxin Bank alive.Regrettably, the Diet voted to reject this plan, which required 6 trillion yen in funding.

In late October 1998, the National Assembly agreed to establish a 10 trillion yen safety fund for the financial system and to find a buyer for Changxin Bank.During this period, Changxin Bank was nationalized and managed.At this time, the capital gap of Changxin Bank reached 60 billion yen.When Changxin Bank closed down, it had 3000 trillion yen in its accounts, 23/2 of which were corporate loans.After the nationalization, the government management agency gradually sold off the financial credit assets of Changxin Bank, and transferred 3 trillion yen of non-performing assets to the recycling agency. In the summer of 5, Changxin Bank finally had 1999 trillion yen in loans left on its account.

Rebwood Group from the United States is actively participating in the bid to take over Changxin Bank. In September 1999, Rebwood put forward the first business plan: buy Changxin Bank for 9 billion yen, inject capital of 10 billion yen, and take over all loans of Changxin Bank at the same time.On the Japanese side, the government took out a reserve fund of 1200 billion yen and proposed a "cancellation right" plan; another 5000 billion yen was injected into Changxin Bank.After negotiations, the Japanese government increased its reserves to 2400 billion yen. In 9000, after many negotiations, Rebwood took over Changxin Bank and changed its name to Xinsheng Bank, and the story of Changxin Bank came to an end.

这是长信银行崩溃倒闭重组的真实过程。也就是说巅峰期246亿美元市值、资产20多万亿的长信银行，美国资本1210亿日元拿下了，还要求日本拿出5000亿储备金再注入2400亿日元到长信银行。

1210 yen, the yen has appreciated to 199 years, and it is only worth 10 billion US dollars.

In this book, the general development process of Changxin Bank remains unchanged.Because of Tao Zhiming's joining, the hole buried for Changxin Bank is more targeted and prepared.

The Financial Prosecutor's Office and the Financial Regeneration Committee, which were not established until 1998, were also established ahead of schedule at the end of 1992 because of Tao Zhiming's intrusion.

Listing the numbers will also allow everyone to have a judgment on the actual value of the funds at that time.After all, this was 30 years ago. The scale of Tao Zhiming's capital is really scary, and it is also beyond the imagination of ordinary people.

This is one of the reasons why he can have firm allies, the strength lies there.

It is understandable how powerful the $50 billion was thrown out at that time, and how much misjudgment it would cause others.

Even Changxin Bank, which has assets of more than 20 trillion yen, will eventually go bankrupt because of only more than 7000 billion bad debts.

Under normal circumstances, it is impossible for Tao Zhiming to have enough funds to make Stevenson and the others feel that they have spent 50 billion yuan to acquire News Agency and Dentsu, and they have to set up a New Millennium Vision Investment Fund to support Hashimoto. Taro Tao Zhiming, who has accumulated political assets, really has other appetites and strengths to do besides Changxin Bank.