Time Travel: 2014

Pananin hated the woman in front of him.

Even if this woman behaves politely.

It was precisely these "polite" manners of this woman that made Paananin irritated.

These polite gestures made by Miku Mikami felt to Pananin like a procedural process rather than coming from the heart.

These flashy etiquette made Pananin feel extremely hypocritical and artificial.

It even made him feel a deep hatred for the people behind this person - paying attention to small details at the expense of righteousness.

After listening to Mikami Miku's questioning, Pananin retorted in a stiff tone:

“The agreement does stipulate that the board of directors has the right to intervene in large acquisitions, but there are exceptions to everything.

I remember trying to avoid this possible disagreement between management and the board of directors.

At that time, the agreement specifically stipulated that for an investment of approximately US$100 million, our Super Cell management would have the right to make decisions directly without explanation to the board of directors once every two years.

Ms. Miku Mikami, have you forgotten this rule? ! Or maybe you deliberately ignored this one. "

Mikami Miku said: "There is indeed such a clause in the equity acquisition agreement, but are you sure you want to take advantage of this rule?

There is only one opportunity for this kind of rule every two years. "

Pananin: "Of course I'm sure!"

Pananin looked at his watch impatiently and said, "Okay, Ms. Miku Mikami.

I also got the answer you wanted. It's already off work time. Can I go back?

My baby girl is still waiting for me at home. Maybe it’s time for you to go home and spend time with your child.

Maybe your baby is also looking forward to your coming home, isn't it? "

This statement made Mikami a little angry.

The things that a woman most taboos about others are probably her appearance, age and relationship and career.

Pananin does not seem to mention these directly, but indirectly touches on all of them.

This made Mikami Miku feel a little offended.

Although Mikami Miku is 27 years old this year, except for one unsatisfactory relationship during college.

I've never had a boyfriend at all.

Not to mention something as far away as giving birth to a child.

Pananin's offensive statement made Mikami very dissatisfied.

What dissatisfied Mikami the most was Pananin's arrogant attitude.

Isn't he the president? What's so great.

To put it bluntly, he is a high-level worker, and he really regards himself as a person, haha.

Although Mikami Miku is just a high-level part-time worker.

But when questioning Pananin.

But she represents the capital side.

In this case, Mikami Miku didn't understand why Pananin had any reason to be arrogant.

Dissatisfaction is still dissatisfaction, but Mikami Miku is not yet ready to mix his personal emotions with his work.

The rules in the agreement that Pananin mentioned are true. There was indeed such a painful rule in the original agreement.

At the time of the acquisition, Super Cell was at its peak, with annual revenue alone exceeding one billion U.S. dollars.

The pure profit has exceeded US$500 million, and is approaching US$700 million.

Before signing the agreement, Soft/Bank had a corresponding understanding. Although Super Cell, a game developer, is easy-going internally, its employees pursue a friendly and equal relationship.

But there is still a certain pride in looking at outside game companies.

A game that can be regarded as worth $100 million by such a naturally proud game development company certainly has its due value.

Therefore, the original acquisition team did not think there was anything wrong with such a company spending $100 million every two years to make acquisitions.

Looking back on the past, Super Cell has been developing rapidly.

However, development is mainly reflected in the expansion of channels and the expansion of platform adaptability.

Rather than being reflected in massive mergers and acquisitions.

In fact, not to mention large-scale mergers and acquisitions, since SoftBank officially invested in the company Super Cell.

Super Cell is a company that almost never engages in mergers and acquisitions.

The occasional mergers and acquisitions are just for the purpose of expanding its efforts in game peripherals, and have never had any intentions towards other game developers or game developers.

It is these past actions.

That's why Super Cell's large-scale acquisition seems so unusual.

Mikami thought for a long time but still couldn't figure out why Super Cell wanted to make this merger.

Mikami even thought of a word he shouldn't have thought of - "insider trading"

Out of all kinds of curiosity, Mikami decided to ask Paganin for a while.

However, Paganin's attitude was very unfriendly.

Despite this, Mikami did not back down.

Mikami Miku said: "Mr. Pananin, it is really rude to trouble you even after get off work hours.

But please understand, I am not doing this out of selfish motives.

I am now also a member of the company Super Cell, and the reason why I raise questions to you is for the sake of our common interests.

The game "HILL CLIMB RACING" you plan to acquire this time is objectively a masterpiece.

But after thorough investigation, I found that the game "HILL CLIMB RACING" can only earn a maximum of 140 million U.S. dollars in its entire cycle.

I'm not entirely sure why you would spend nearly $110 million to acquire a game like this.

You must know that US$110 million is only the direct cost of acquiring the game.

Including legal fees, various transaction taxes, etc., our total transaction volume may be close to about 115 million US dollars.

If the operating expenses required for the full-cycle operation of the game are taken into account, the total amount may be as high as 120 million US dollars.

In this case, I really don't understand why this transaction was carried out. "

Paananin said: “I am now very doubtful whether the experience in your resume at Goldman Sachs is true or false.

You have already calculated that the full cycle revenue of the game "HILL CLIMB RACING" will reach 140 million US dollars.

In this case, is there anything wrong with us spending $110 million to close the deal?

Even if the full-cycle cost is close to US$120 million as you said, isn't that still a net profit of US$20 million?

Don’t worry, you won’t make a penny less. "

Mikami Miku was a little speechless after hearing this.

Even though Mikami Miku has been immersed in the workplace for several years, he was a little defensive when he heard this.

Is the president of a game company like Super Cell a financial idiot?

Or are you pretending to be confused on purpose?

But the level of pretending to be confused is really not that high.

Because no one with some financial knowledge would say such a thing.

Although the game "HILL CLIMB RACING" will earn more than 140 million U.S. dollars in its entire cycle.

But this cycle takes at least about 5 years.

If you invest US$120 million in cash, even if you invest in a project with an annual profit of 10%.

It only takes two years to be more profitable than acquiring the game "HILL CLIMB RACING".

In this case, why waste time and money on such a game?

Mikami Miku didn't quite understand.

Mikami Miku thought of his previous speculation again - "insider trading".

Despite this, Mikami did not express his doubts directly.