Reborn Xiangjiang as a Tycoon

Chapter 85 Zhiyin Comics (Part 1)

While reporters from all over Xiangjiang were checking Lin Baicheng's background and wanting to expose more information about him, he himself had already arrived at RB.

On the second day after arriving at RB, Lin Baicheng and Maori Haruko went to the comic publishing company to complete the equity transfer transaction with the shareholders of the comic publishing company. There is more than one shareholder of this comic publishing company, but Maori Haruko has already negotiated with all shareholders.

After deciding on the price, all we have to do now is sign the transfer contract.

Lin Baicheng bought this comic publishing company worth 1.8 billion to 1.9 billion yen according to the valuation of the research company, for 2.1 billion yen, a premium of less than 20%, a quite reasonable figure. After all, this company

It's just a business problem, not an imminent bankruptcy, so it's normal to see a premium.

After signing the contract and paying the bill, the company belongs to Lin Baicheng.

After completing the transaction, all the original shareholders of the comic publishing company said their goodbyes and left. Only Lin Baicheng, Mouri Haruko and the temporary lawyer who were invited were left in the conference room.

"Haruko, when you ask someone to complete the company ownership registration, remember to change the company's name to Zhiyin Comics Publishing Company."

"Yes, Chairman."

Mouri Haruko responded.

"As for the president of Zhiyin Comics, who do you think is more suitable for the position of president among the three current directors of the company? Or do we need to recruit other people and find a president for this company from outside?"

Lin Baicheng asked aloud. As his assistant, Maori Haruko knew the company much better than he did. The information given to him by the original investigation company was only general information related to the company's valuation, not so detailed.

Maori Haruko did not answer directly, but said: "Chairman, there is no problem with this company's comic publishing business. It is developing very well and can bring considerable profits to the company every year. The three ministers of the company

They all have good abilities. Who is more suitable to be the president? Chairman, you can meet them separately and listen to their opinions on the development of the company before making a decision."

"Is that so? It seems that it is better to promote internally to avoid the loss of talent."

Lin Baicheng nodded when he heard this, and then asked in confusion: "Qingzi, since this company is doing well in the comic publishing business and makes a lot of profits every year, what is the problem with this company? I read the survey

The company’s report said that there was a problem with the investment of the company’s original president and some shareholders, so they wanted to sell the company. Will this affect our future development of the company?”

"Chairman, I have investigated all of this clearly."

Haruko Mouri replied: "In 1972, Prime Minister Tanaka proposed the "Island Reconstruction Plan", coupled with the loose financial policies at that time, which led to a sharp increase in land and housing prices in the three years from 1972 to 1974, with the highest increase during the period.

Nearly twice as much.”

"However, there was quite a bit of a bubble. In 1975, the bubble began to burst, and housing prices began to fall. Taking a 30-square-meter house (1 square meter is approximately equal to 3.3 square meters) in central Tokyo as an example, the peak in 1974

It cost 20 million yen at that time, but now it only costs 17 million yen, and the average price of a house falls by 1 million yen every year.”

"At that time, when housing prices were soaring, it was very profitable to enter the real estate industry. Housing prices were rising every week, and assets continued to rise."

"In this hot atmosphere, many people have entered the real estate industry. It was under such circumstances that Ogasawara-san and others entered the real estate industry, and they entered almost at the peak of the bubble."

"At that time, Ogasawara-san not only invested all his wealth, but also borrowed 2 billion yen from the bank in the name of the company with several shareholders to purchase real estate, hoping to wait for the appreciation. Unfortunately, the original purchase price was 2 billion yen.

The real estate purchased is now only worth 1.7 billion yen.”

"Not only does the real estate depreciate, but because it uses a loan to purchase the real estate, the company also has to pay interest on the loan every year. Fortunately, the interest rate was not high when the loan was originally taken. The annual interest rate is only 6%, which is 120 million yen per year.

interest."

"The comic publishing business can bring about 150 million yen in profits to the company every year, which is enough to offset the bank's interest, but after paying employee salaries and other expenses, there is almost no money left."

"Ogasawara-san and the others were worried that housing prices would continue to fall. After persisting for a few years, they could no longer hold on, so they sold the company."

"Chairman, you said that you are optimistic about RB's real estate development and can use bank loans to develop the company, so I chose this company."

After hearing what Haruko Mouri said, Lin Baicheng couldn't help but feel sorry for the company's former president Ogasawara and the others. Their behavior in the stock market was simply buying at the highest point and then leaving the market almost at the lowest point. It was standard.

The behavior of retail investors will make you vomit blood after knowing the truth in a few years.

Lin Baicheng is not sure whether RB's land prices will fall in the past two years, but even if they do, in his opinion, after two or three years of decline, the room for decline is limited and cannot fall much. This time period has entered

The real estate industry can almost be said to be bargain hunting.

Lin Baicheng was a little confused: "By the way, the company's market value is only about 2 billion yen. How did they borrow so much 2 billion yen from the bank?"

Haruko Mouri replied: "Chairman, in 1974, the company's valuation was around 2.5 billion yen, so we were able to get a loan of 2 billion yen."

"I said so."

Lin Baicheng suddenly realized that banks are not philanthropists. They usually do not provide loans with equal collateral. They are worried about the devaluation of the collateral and then bad debts of the bank. There is a loan with a valuation of 80%, which is already a very high loan ratio.

.

"Chairman."

After looking at Lin Baicheng, the assistant Maori Haruko reminded her: "Currently, the domestic land prices in RB are still being adjusted. No one knows how long it will take to adjust and how much room for decline there is. Maybe the company's real estate will eventually change."

It is possible that it is only worth 1.5 billion yen. The company's comic publishing business is developing well, and I think it would be better to use the funds to expand the company's main business."

"Don't worry about this. When I acquired the comic publishing company, I was optimistic about this industry. I will definitely develop the company's main business."

Lin Baicheng smiled and nodded when he heard this, but he had no intention of selling the real estate. No one knew better than him the crazy housing prices of RB in the 1980s.

"It happened that the development capital I provided for the comic publishing company was 100 million Hong Kong dollars, which is 5 billion yen. Now it has cost 2.1 billion yen to acquire this company, and there is nearly 3 billion yen left. This money is enough.

Come to develop the company."

Hearing what Lin Baicheng said, Maori Haruko stopped saying anything. She was just giving suggestions out of her duties as an assistant. The actual decision maker was Lin Baicheng, the boss.

(Thanks to ‘Xiaoyao Tianxia’ for the huge 500-point reward support!!!)

(End of chapter)