novelraw Chapter 20 Cases of Defense of Control
Chapter 20 Cases of Defense of Control
Five hundred million.
After Seiji Shiraishi stated the number, there was a moment of silence in the first reception room.
Kiryu Yaya's heart skipped a beat.
From 30 million to 500 million for Shiraishi Refrigeration.
This career advancement happened much faster than he had imagined.
[World line converging - bifurcation two selected]
The skill "Shortcut to Road Traffic Laws" has been unlocked.
This skill enables the user to quickly master common knowledge points in the Japanese Road Traffic Law's licensing exam.
Kiryu Yaya looked at the prompt in front of him, his feelings were somewhat complicated.
Original payment is waived.
The system certainly knows how to pick its time.
He was worried that his Honda Super Cub was stuck in the system space and he couldn't ride it.
But now is not the time to think about getting a driver's license.
The branch manager of Matsumoto closed the folder and looked at Masakazu Yamada.
"Section Chief Yamada, this case will be initially reviewed by the Financing Review Division."
"Yes."
"Chihaya, the chief judge, and Kiryu, the assistant investigator."
Kiryu Yaya was slightly taken aback.
Auxiliary investigation?
Why would someone like him, a newcomer who had only been with the company for less than a month, be involved in a case worth 500 million yen?
Perhaps they considered that the Shiraishi family came because of their relationship with them.
Otherwise, a typical newcomer would never be able to get involved in such a major case.
The branch manager of Matsumoto seemed to notice his surprise and calmly said:
"Kiryu-kun, you did a great job with the Fuji Metals case. But 30 million and 500 million are not in the same league."
He looked at Kiryu Yaya.
"This time, we must watch carefully and learn diligently."
Kiryu Yaya immediately stood up straight.
"Yes, branch manager."
Seiji Shiraishi took out several more folders from his briefcase and neatly placed them on the table.
Shiraishi Refrigeration Co., Ltd. - Financial Statements for the Past Three Periods
Transcript of the Land and Building Register of the Dojima Cold Storage
Major Client Transaction Details
Shareholder Register
When he saw the last four words, Kiryu Yaya's gaze paused for a moment.
Shareholder register.
While seeking stable financing, they proactively brought along a list of shareholders.
This is quite subtle.
For most companies applying for equipment upgrade loans, the most important documents are the balance sheet, profit and loss statement, cash flow statement, equipment quotation, and guarantee documents.
Of course, you can also view the shareholder register.
But it's definitely not something they'll proactively bring up in the first round of interviews.
Unless the loan is truly intended to address not the equipment issue, but the equity issue.
Kiryu Yaya glanced at Shiraishi Seiji without making a sound.
Seiji Shiraishi maintained the composure and politeness typical of a middle-aged business owner, but his fingers lightly pressed the edge of the shareholder register folder, revealing a hint of nervousness.
Kiryu Yaya's mind stirred.
[Skill "The Manager's Obsession" activated]
The next instant, a thought that did not belong to him surfaced in his mind like a piece of driftwood carried by the tide.
The company my father left behind cannot be destroyed in my hands.
Please, even if it's just this once, let me hold on.
Kiryu Yaya's eyes darkened slightly.
really.
The core of Baishi Refrigeration's 500 million yuan financing is not equipment upgrades at all.
It is a share pledge.
Takao Shiraishi, 28% stake, Daiwa Securities-affiliated financing company.
Kansai urban development, Kuroda.
A few keywords are enough to piece together most of the story.
Masakazu Yamada opened the documents and asked:
"President Shiraishi, the application states that it's for operational stabilization funds and equipment upgrade funds. Could you please explain the specific uses of the 500 million yen?"
Seiji Shiraishi sat up straight.
"Yes. Of the 500 million yen, 90 million will be used to replace existing loans from the Osaka Credit Union, 90 million will be used to upgrade the cold storage compressor units and temperature control system, and the remainder will be used for capital policy adjustments and replenishment of working capital."
"Capital policy adjustment?"
Masakazu Yamada's eyebrows twitched.
In bank loan applications, this word is almost synonymous with "I can't say".
Seiji Shiraishi paused for a moment.
"Yes, some information regarding the company's shareholding structure."
Takahiro Matsumoto raised his eyes.
"Would a restructuring of the equity structure require over 300 million?"
Seiji Shiraishi paused for a second, then lowered his head and said:
"This part is rather complicated, and I hope to explain it to your bank in detail during the formal review."
The room fell silent.
This answer is very Japanese.
Polite, reserved, and leaving room for maneuver.
But to bankers, the meaning is quite clear.
It's not convenient to talk about it now.
Or rather, they didn't want to tell Miyazawa Keiko and Shiraishi Ayako everything.
Matsumoto Takahiro didn't press further, he simply nodded.
"Sure. The formal review will be handled by the Financing Review Division."
Seiji Shiraishi bowed deeply.
The bow was lower and lasted longer than a standard business bow.
"Please help me, everyone."
Keiko Miyazawa sat beside him, but her gaze remained fixed on Yaya Kiryu.
She originally thought that introducing Kiryu with a 500 million yen financing was giving him a chance to prove himself.
But now, sitting in the first reception room, listening to terms like "capital policy" and "equity structure," she slowly realized that she had been oversimplifying things.
Kiryu Yaya noticed her gaze.
He didn't speak, but simply nodded slightly.
This is not a consolation.
It's more like telling her:
No problem, just follow the procedure.
Keiko Miyazawa finally breathed a sigh of relief.
……
After Seiji Shiraishi and his group left, the air in the first reception room finally loosened up a bit.
Matsumoto Takahiro picked up his teacup and took a sip of the already somewhat cooled sencha.
"Section Chief Yamada."
"Yes."
What do you think?
Masakazu Yamada did not answer immediately, but instead spread out the documents of Shiraishi Refrigerators and quickly flipped to the financial statements section.
"If you only look at the business data, they are a good customer."
He said:
"Annual revenue is around 1.6 billion yen, operating profit is 110 million yen, and recurring profit is 80 million yen. The cold chain warehousing and low-temperature distribution business has stable cash flow, and the main customers are high-quality clients such as Daimaru, Hankyu, and New Hankyu Hotels."
He flipped to the borrowing details.
"The existing bank loans amount to 290 million yen, of which 90 million yen is from Osaka Shinkin Bank, 70 million yen from Sumitomo Bank, and the remainder is long-term borrowing related to equipment. The debt is not heavy."
Matsumoto Takahiro asked:
"What's the problem?"
Masakazu Yamada turned to the page on the use of funds.
"The problem lies in the adjustment of capital policy. More than 300 million yen was used for equity restructuring, which is not ordinary equipment financing."
After he finished speaking, he looked at Kiryu Yaya.
"Kiryu, what do you think?"
Kiryu Yaya never expected that the section chief would directly point him out in front of the branch manager.
He lowered his head slightly and gathered his thoughts.
"I believe this financing is not a matter of operational stabilization, but rather a classic case of defending control."
There was a two-second silence in the conference room.
Masakazu Yamada subconsciously glanced down at the page of information in his hand, as if trying to confirm whether he had missed something.
Matsumoto Takahiro's fingers also stopped at the rim of the teacup, a hint of surprise in his eyes:
"Kiryu-kun, please continue."
Kiryu Yaya flipped the document to the one showing the shareholding structure of Shiraishi Refrigeration.
He spread the page out and pushed it to the center of the table so that all three of them could see it clearly.
Seiji Shiraishi: 38%.
Shiraishi family: 12%.
Takao Shiraishi: 28%.
Morikawa Industrial: 12%.
Employee Stock Ownership Plan: 10%.
Then, Kiryu Yaya used the tip of his pen to dot the two lines about Shiraishi Takao and Morikawa Sangyo.
"Clearly, President Shiraishi is currently preparing to use more than 300 million yen for equity restructuring. We first need to clarify which equity this fund should correspond to."
He looked up.
"Given that Shiraishi Refrigeration is valued at nearly one billion yen, this amount of money corresponds to approximately 30% of the equity."
"Judging from the equity structure of Shiraishi Refrigeration, there are only two ways in which this 30% equity was formed: either it belongs to Shiraishi Takao's 28%, or it is held by Morikawa Sangyo plus the Shiraishi family and employees."
His pen tip first touched "Morikawa Sangyo", then "Shiraishi Family" and "Employee Stock Ownership Association".
"But it would be quite difficult to repurchase shares from the latter. Morikawa Industries is an external shareholder, the Shiraishi family is scattered across multiple households, not to mention the employee stock ownership plan—acquiring these channels simultaneously is impossible to complete in a short period of time, and each transaction would require individual negotiation."
The pen tip moved to the area below the three characters "Shiraishi Takao" and paused.
"Therefore, it is highly likely that there is a problem with the 28% stake held by Takao Shiraishi. President Shiraishi urgently needs to repurchase these shares to maintain control."
Masakazu Yamada looked at the paper, then suddenly realized something, and almost blurted out:
"So that's how it is!"
But he immediately realized that it wasn't a leader speaking; it was just that Kiryu Yaya, the newcomer, pursed his lips after expressing his opinion.
Why do I feel like my IQ has been completely crushed?