The Magician’s Memorial - Chapter 333



Only Krnovel

333. Prelude to victory (2)

Nomura Securities, Japan’s largest securities company.

President Han Jeong-hoon visited the Nomura Securities headquarters in Tokyo in person.

Norihiko Nasino, CEO of Nomura Securities, welcomed President Han.

“It’s nice to meet you. This is Han Jeong-hoon from Taewoo Securities.”

“I’ve heard a lot of stories. And aren’t we kind of comrades? We are also comrades who fought together on the battlefield of the Lehman incident.”

It was CEO Nasino, smiling and shaking hands with a president.

During the Lehman incident, Taewo Group was not the only company to acquire companies, and Nomura Securities also acquired many companies.

In particular, it was Nomura Securities, which had almost absorbed all of Lehman Brothers’ Asian and European branches.

Two companies are considered winners of the Lehman crisis.

Taewoo Securities and Nomura Securities.

That is why it was Representative Nasino who spoke of his comrades.

“Are you okay with the acquisition of Lehman? Taewoo Securities is suffering a significant loss due to the acquisition of AIZ.”

“There are no problems in the Asian region, but the European branch is a little difficult. But we can normalize it within a year.”

“After all, it’s Nomura Securities. It’s not the best securities company in Japan for nothing.”

“But we heard you want to do business with us. I’m curious what kind of business it is.”

The one who moved first was Representative Nasino.

As if he had been waiting, President Han took out several documents and handed them to Representative Nasino.

“Taewoo Securities created a new financial product, and I personally went door-to-door to sell it to see if anyone would be interested.”

“If it’s a financial product created by a CEO who’s famous on Wall Street, it’s probably not an ordinary product.”

It was CEO Nasino who was slowly reading through financial product data.

His lips gradually moved upward. He looked like he was smiling as if he had caught a bully.

“It is a financial product that is too aggressive. Japan must fall into a bubble economy again for Taewoo Securities to make a profit.”

“It’s not that much. Even if the stock prices of manufacturing companies fall by about 20%, it is enough to realize profits.”

“For the stock price to fall by 20%, wouldn’t it be possible for something similar to the bubble to explode? Well, we have no reason to decline since the conditions are so good, but are you okay with Taewoo Securities?”

CEO Nasino was rather worried about President Han.

This was because the conditions were extremely favorable to Nomura Securities.

“This is a financial product I created myself. How, if you are interested, would you like to sign a contract?”

“It’s a kind of insurance product. You pay the insurance premium every month, and if the stock price falls by more than 20%, you are compensated 20 times the insurance amount you paid. Hmm, that’s good. I can’t refuse such a good offer.”

It was Representative Nasino who had no reason to refuse.

The current Japanese economic situation is not bad.

After the Lehman crisis, the Japanese government was implementing a quantitative easing policy, and company stock prices were rising, albeit slowly.

“If you think it’s a good suggestion, please introduce it to other places.”

“Is there any need to introduce anyone else? We will accept all orders from Nomura Securities.”

“The volume is quite large. We plan to sign contracts worth $30 billion by the end of this year.”

“You mean $30 billion, not $3 million?”

Although Nomura Securities is the largest securities company in Japan.

It was not enough to cover $30 billion alone.

Even for a Wall Street investment company rather than Nomura Securities, $30 billion was a burdensome amount.

“If you think about Taewoo Group, $30 billion is not that big of a sum.”

“I don’t know what Taewoo Group is thinking. I think Nomura Securities could sign a contract worth up to $5 billion.”

“Are you able to do that much?”

“How can I refuse such good conditions? Even if it means going a little overboard, I have to buy as much as possible.”

Representative Nasino wanted to receive more volume.

However, because he was a very cautious person, he decided to limit his investment to $5 billion.

“We will send our professional staff to coordinate the details. We are very grateful to have signed a good contract.”

“I should thank you. And I’ll introduce you to someone I know. There will be quite a few securities firms that will be interested.”

“As expected, I think it was a good idea to visit Nomura Securities. Thank you very much for your help.”

“Aren’t you comrades who fought together during the Lehman crisis? Of course, we should do this for you.”

Representative Nasino offers a handshake.

President Han smiled and held hands with him.

comrade? Comrades?

That sounds very funny.

This contract was ultimately subject to heavy losses on one side.

Like Wall Street, Nomura Securities was nothing more than a hyena, and Taewoo Securities was no different.

A hyena ready to bite a weak enemy.

A fight began that would only end when one side’s head was torn off.

* * *

Only after fall arrived did CEO Han return to Korea from a business trip to Japan.

Of course, because it was so close, I came back to Korea occasionally, but it was only today that I was able to return to Korea completely.

“You had a hard time. How was your life in Japan worth it?”

“If you leave Korea, won’t you have a hard time with food? For about a week, Japanese food was palatable to my taste buds, but after just a month, the food was so sweet and salty that my mouth got bored and I thought I was going to die.”

“I heard that the mouth was boring, but the results were not boring.”

A president with a smile of remorse.

He took out a large amount of documents and held them out in front of me.

“Starting with Nomura Securities, we have signed contracts with various financial companies and several companies. The amount is over $15 billion.”

“It’s not a bad result. Use the remaining $15 billion to target short selling and the yen.”

“First, we plan to short sell Japanese manufacturing companies for $10 billion and target the yen with the remaining $5 billion.”

It was a good plan.

Of course, if the entire $30 billion had been used for financial product contracts such as insurance, greater profits could have been made, but the amount that could be absorbed in the Japanese financial sector was limited.

So I had to take advantage of it in another way.

Short selling and targeting the yen were chosen as the next best options.

“The design is now complete.”

“The design has been completed, but there are no signs of the situation occurring at all. For an economic crisis of the magnitude you mentioned, a precursor phenomenon must occur, but the Japanese economic situation is actually very good.”

This was a boss who trusted me and was proceeding with all the plans.

However, he also had some anxiety, and since I and I have succeeded in many impossible tasks so far, we were proceeding with this task without opposition.

“The fire of the Lehman crisis has not been completely extinguished yet. The Japanese government is said to be taking quantitative easing measures, but this will only fuel the fire. Signs will begin to appear early next year at the latest.”

“You can somehow survive until next year, but you cannot survive until the year after that. From then on, you have to use hidden assets to survive.”

SAVE Assets of investment companies and shell companies.

Most of it was stored in a fintech bank under a borrowed name, and the rest was stored in the form of a paper company.

It was a kind of insurance.

Because it was such a strong insurance policy, one president believed that recovery was possible even if this operation went wrong.

“Even if things go wrong in Japan, if we use hidden assets to target Europe, we will be able to secure at least the balance. So don’t worry.”

“I’m not worried. There have been so many heartbreaking moments while working with the Chairman. But I’ve never failed, right? So I’ve decided not to worry anymore.”

“Good job. While you’re worrying, think about how you can extract even one more penny from Japan.”

President Han’s eyes did not waver at all.

It wasn’t just that he wasn’t worried in words; he was truly not worried at all.

There was a boss who, after working with me for a long time, had a very swollen stomach.

* * *

Chuseok of 2010 has passed and the end-of-year atmosphere is starting to take hold.

Things were supposed to ease up at the end of the year, but the atmosphere at Taewoo Group was reminiscent of thin ice.

In particular, the head of the planning department who came to report on the third quarter performance had half-dead eyes and began reporting the performance in a trembling voice.

“Taewoo Electronics, semiconductor and IT divisions have achieved the highest sales since the company was founded. And Taewoo Entertainment is also doing well.”

“Let’s skip the reports of affiliates with good performance.”

“The situation at Taewoo Engineering & Construction is not that good. The construction industry has frozen since the Lehman incident. In particular, domestic construction orders themselves have decreased significantly. The situation is so bad that more than 10 out of the top 100 construction companies have gone out of business. ”

The construction industry was having its worst year.

If there was any hope, they would hold on, but the outlook for the construction industry next year was not good, and many construction companies were going out of business one after another.

“Still, isn’t the situation at Taewu Engineering & Construction okay? Construction is underway on the new Taewo headquarters building, financial hub, and even the new Apple headquarters building.”

“We are avoiding a deficit due to the large number of projects we have received so far, but if the recession continues, it will be difficult in the future. According to the forecast of the Economic Research Institute, the recession in the real estate market is expected to continue until at least 2013.”

The current project could last at least three years.

However, if the real estate recession continues until 2013, it will be difficult to avoid deficits from then on.

“As real estate prices continue to fall, apartment construction itself may be slowing down.”

“Not only new apartment construction but also redevelopment construction is quiet. As the number of unsold apartments continues to rise, there are cases where new apartment construction is collapsing. Financial companies are also not carrying out real estate PF themselves.”

In the case of unsold units, the damage was ultimately borne by the construction company.

Even so, from the financial company’s perspective, it was burdensome to set up PF and play the role of a telephone pole at a time when unsold units were rising one after another.

“I think Taewoo Group can solve that problem on its own. Wouldn’t it be okay to start construction of apartments first with funds from Taewoo Securities or Taewoo Group’s headquarters without the help of financial companies?”

“If Taewoo Group provides funds, we can start apartment construction, but wouldn’t the burden be too great?”

“If you are worried about unsold units, you can introduce a post-sale system.”

“If it is post-sale, do you mean that you will sell it after the apartment is completed?”

“Of course, I’m not saying we’re going to do that right now. We’re saying we’ll wait until next year and if the situation continues to be bad, we may use that method.”

Apartment prices were bound to rise eventually.

It is said that unsold units are rising one after another now.

When the boom cycle came, sales were bound to happen, and apartment prices were bound to be higher than they are now.

So, as long as we could secure funds for construction, it was a business that would definitely remain.

There was no problem as we could secure funds by attacking Japan and Europe by 2012.

“Even if we support Taewoo Engineering & Construction, the bigger problem is Taewoo Trading. In particular, the deficit in the e-commerce business ‘Rocket’ is increasing significantly every quarter. This quarter alone, it recorded a deficit of 400 billion won, and next year’s loss is 1 trillion won. “A deficit exceeding 100 won is expected.”

Taewo Corporation, Taewoo Motors’ electric vehicle division, and even acquired companies.

The deficit was increasing every quarter, and it was being covered by money from high-profit affiliates.

But I wasn’t worried.

As the new year of 2011 dawns, there will no longer be a need to worry about money issues.