Reborn Tokyo Golden Age

For the first time, the discussions on the Changyin improvement plan, led by the Ministry of Finance and the Cabinet, were only briefly discussed.

It can be seen that whether it is the Ministry of Finance or the cabinet, they are actually very entangled.

On the one hand, he hates Changyin, a black sheep, who wants to destroy himself, but on the other hand, he can't bear to do so.

After all, Changyin has provided great assistance to Neon's economic development, and its status in the hearts of the people and the government is inherently higher than other banks.

In addition, the Ministry of Finance and the Cabinet are also worried that if Changyin is allowed to go bankrupt, it may shake the foundation of Neon Financial's economy.

Now major banks are trying desperately to keep their debts afloat. If Changyin collapses, it is likely to cause a chain reaction.

As long as there is a breach in the levee, the collapse will be unstoppable.

Therefore, the Ministry of Finance did not dare to leave Changyin alone no matter what, so it convened several parties to discuss the so-called Changyin improvement plan.

But after a round of discussions, it was clear that neither party was satisfied with the final result.

UBS left the market angrily because Changyin's bad debts were not disclosed. After all, they are outsiders, and acquisitions with opaque assets are likely to have big pitfalls waiting for them.

Sumitomo was helpless, so he stood up and left after making a symbolic offer.

Beidu Bank has come up with a practical acquisition plan, and it can be seen that it has been well thought out.

But when I think about the huge Changyin, it is very important in the world. Now that it is being sold at such a low price, the Ministry of Finance is very unwilling to accept it.

Therefore, they accepted Beidu Bank's plan, but did not express their position on it.

Bai Chuanfeng knew that this was the Ministry of Finance and wanted to give him some money, and the subsequent development of things was just as he expected.

Not long after they met privately, Congress in October approved a 10 trillion relief fund, ready to be invested in the relief of the banking industry.

Including the funds previously allocated by the Ministry of Finance, this relief fund totals 12 trillion.

When the media learned of the news, many people thought they had heard it wrong.

This number is so small that it is almost negligible compared with the more than 50 trillion non-performing assets.

However, many people still oppose this money.

Takeru Nagano, chairman of the Keidanren Federation and chief financial officer, said at a press conference.

"If you want to apply for state support, then if the bank does not seriously disclose wages and other relevant operating information to the public, it will not be recognized by society."

Most banks in Neon have always kept the salaries of their employees confidential, even banks with state-owned assets backgrounds such as Industrial Bank and First Bank.

At present, the salary in the financial industry is much higher than that in the manufacturing industry, but the outside world has never known it.

One of Keidanren's responsibilities is to survey the average salary of various industries and then compile it into a "Periodic Salary Survey Report" for publication.

If your banking industry wants to get help from state funds, then your basic operating conditions must be made public.

How many non-performing assets are there, where the applied state funds are used, and how much are the employee salaries.

These need to be written clearly, otherwise if you take the relief fund and pay the salary to the senior management, then what is the need for relief?

The public immediately agreed with Nagano's point of view. They were already very unhappy with the bank.

You raise the price of land, and you are the reason why everyone is so miserable now.

As a result, your bank can also apply for state support, so who will support us?

The people can’t decide on Congress’s relief plan, but they have to explain where the bank’s money is spent, right?

However, the Ministry of Finance, which once again pretended to be dead, did not respond to these questions at all, so the bank naturally had nothing to say.

From the perspective of the Ministry of Finance, the neon financial industry is already in danger, and there is no time to deal with the nagging of the people.

As a result, 12 trillion funds were quickly approved and distributed to dozens of medium and large bank accounts.

However, because there were so many more than 20 banks, only a few hundred billion yen were actually paid to each bank in the end.

Chang Yin, who hates iron as the Ministry of Finance, received the least, only 180 billion yen.

The media is basically not optimistic about this wave of money-spending behavior by the Ministry of Finance.

In their reports, this is just a "last resort" for the banking industry.

After all, compared with the nearly 60 trillion in non-performing assets, this amount of money is too small.

Bai Chuanfeng even smiled slightly after learning about Changyin's relief funds. It seemed that the Ministry of Finance was also preparing to give up Changyin.

Time came to the end of the year and soon entered 1993.

Nearly three years have passed since the bubble started.

In the past two years, as the bubble burst, the securities and real estate industries were mostly affected.

But after more than two years of transmission, the negative impact of the bubble collapse has begun to penetrate into the lives of ordinary people.

The most obvious change is that club benefits have been greatly reduced, and jobs have become increasingly difficult to find.

A group of young girls who had just come out of the airport were talking and laughing as they walked to the convenience store.

They had just come back from vacation and were going to buy two recruitment magazines and then find a job and continue working.

Yes, the neon college students in the golden age were very chic.

Their lifestyle is infinitely close to that of the European and American countries.

Generally, after graduation, you first find a high-paying job and work for a year and a half, and then quit your job to travel.

Jobs are so easy to find these days, big companies are vying for people, and their salaries are very high.

The arrogant college students, after receiving generous salaries, quit their jobs and went on vacation.

When you've had enough fun outside, come back and continue looking for a job.

Because all the big clubs are competing for people, there is no need to worry about work.

College students have long been familiar with this seamless connection.

However, when these girls arrived at the convenience store and got the latest issue of the recruitment magazine, they all looked surprised.

The recruitment magazine that used to be hundreds of pages now has only a dozen or so pages left.

Then I looked around and found that the job openings were extremely low.

What a truck driver, a street cleaner.

What about the good-paying assistant jobs you used to have? And what about the training trip hospitality included in the job advertisement?

Nothing? Several girls looked at each other with disbelief in their eyes.

Is it still possible to find a job these days?

However, the significant slimming down of recruitment magazines has not stopped the popularity of a discotheque called "Tokyo Juliana" in Minato-ku, Tokyo.

Here men and women are standing under the stage, swaying wildly to the rhythm of the fan dancer on the stage.

Colorful lights, deafening music, the smell of alcohol and hormones all stimulate the nerves of men and women.

This disco, which was newly opened after the bubble in May 1991, is still full every day.

It's impossible to walk around the store without bumping into people.

This is what happened in neon folk life at this time.

The bubble has collapsed and a cold wave is coming, but everyone is still immersed in the hangover of the bubble and unwilling to wake up.

In addition, affected by the bubble, the operating profits of Neon's real economy also began to gradually decline.

In the past, Baichuan Holdings' annual net profit was at least US$3 billion, but now it is only more than US$2.6 billion.

This is a profit reduction caused by the general environment, and most companies cannot avoid this.

In the second half of the 1980s, Neon's share of foreign exports has remained above 22%, but now this figure has dropped to 16%.

The fundamental reason is that the leading country has accelerated its industrialization process, and part of the market has been replaced by cheaper goods.

Coupled with the fact that the neon domestic bubble has begun to show its power after bursting, people are already consciously downgrading their consumption.

Therefore, due to several factors, the economic downturn is inevitable.

In order to cope with the possible industrial depression of Neon, Baichuan Holdings has been preparing for industrial transformation for a long time.

The first is large-scale manufacturing plants, and the headquarters basically no longer approves them.

Not only are factories no longer giving approval, but former Walkman and CD player factories are also closing down one after another.

In addition to retaining the little production capacity that Neon can consume in the domestic market, all other export batches of products are produced by Tianchao's factories.

After 1992, economic policies there were further liberalized, allowing large-scale wholly foreign-owned enterprises to survive.

Now the headquarters of Shirakawa Electric (Tianchao) has also taken root in Shanghai. This is the beginning of Shirakawa Holdings' large-scale entry into the mainland.

In the next few decades, this will be the focus of Baichuan Holdings' development.

As for Neon domestically, once domestic demand drops to a certain level, the last remaining production capacity will also be moved to China.

Now that the Walkman and CD player factories have been shut down, the excess industrial workers have been slowly transferred to LCD TV, mobile phone and computer production lines.

These types of electronic products are still difficult to produce under China's current conditions, so Neon will still be the processing place for these export products in China.

With this method of internal circulation of employees, Shirakawa Holdings achieved the goal of zero layoffs even when the bubble cold wave came.

Even Shirakawa Electric publicly announced that no matter how bad the situation is, Shirakawa Electric will not lay off any employee.

To be honest, this is actually a fight for reputation. Although Shirakawa Electric has not laid off employees, it is a fact that factories have closed.

The employee-employment system that other large companies insisted on was about to collapse, and with the advent of the Great Recession, layoffs were inevitable.

Shirakawa Electric's fight for fame is also to stack buffs for future actions. Not everyone will like what Shirakawa will do next.

Of course, this is a later story. As the general environment ushered in major changes, Shirakawa Electric also made major changes in its physical investment.

The relocation of production capacity is a manifestation, and the internal change is that the entire manufacturing system is adjusting.

In the past, in order to save costs, Shirakawa Electric adopted a vertically integrated processing model.

The characteristic of this production method is that from the beginning to the end of a product, all processes are completed within Shirakawa Electric.

A typical representative is Panasonic, which can even achieve 100% in-house parts.

The same is true for Apple across the ocean. Apple computers are basically produced in its own factories, which is also a typical vertically integrated processing model.

But now with the increase in labor costs and raw material costs, this rule is no longer applicable to today's neon.

So Shirakawa Electric once again took the first step in reform. It began to try horizontal division of labor to complete product processing.