Chapter 444: When the fake is true, the real is also false

As the saying goes, flies do not bite seamless eggs. As Yasuki Ichinosuke, who has dealt with Yang Xing many times, has not gained the upper hand even though he has taken action several times. He has long since put aside his thoughts of despising Yang Xing. His family knows his family affairs, and after taking over the economic power of the Yamada family, he found that this is not a bad person. He intuitively believes that what Watanabe Shiraki said is not groundless. As a long-time minister of Yamaichi Securities, Watanabe Shiraki has been dealing with Fuji Bank for a day or two. Since he dares to say that there is something wrong with Fuji Bank's accounts, he must have something to rely on.

The bankruptcy of Shanyi Securities made the world realize that the once considered indestructible financial institutions were not as powerful as imagined. After the bursting of the real estate bubble, the decade-long economic recession has caused poor operation in all areas of the *** economy. Among them, the largest banks, which are the financial backing of various industries, have undoubtedly suffered the most serious damage.

Before the bubble economy burst, several major banks accounted for half of the world's top ten banks. However, due to long-term impacts of bad debt and low interest rate policies, the profit levels of banks have been greatly reduced. Even without the emergence of the Asian financial crisis, problems in the banking industry will sooner or later break out.

The Asian financial crisis completely tore off the last fig leaf of the financial institutions of ***. Although Shanyi Securities' collapse was caused by his own fault, as the largest bankruptcy case of financial institutions after the war, Fuji Bank, which is also the leader of Furong Group and the financial pillar of various companies within the group, took the lead in the insult at a critical moment, but made companies within the Furong Group feel sad.

But when Yasushita Ichinosuke sent someone to thoroughly investigate the internal and external accounts of Fuji Bank, he found that things were not as simple as it seemed. At that time, Fuji Bank did not want to save it, but could not save it because it could not protect itself, and the situation was even more pessimistic than he estimated.

The results of the preliminary inventory show that before the Asian financial crisis, Fuji Bank's bad debt amount exceeded that of Yamaichi Securities. If it weren't for the joint efforts of related companies in the Furong Consortium to block the hole, Fuji Bank would have the risk of bankruptcy at that time. Yamaichi Securities was just the little pawn who was sacrificed for losing his pawn and guarding his commander.

After analyzing the bad debts of Fuji Bank, Yasuda Ichinosuke believed that Fuji Bank was already terminally ill. No wonder the stubborn elders of the Yasuda family easily agreed to him to take charge of the family business. They simply believed that Fuji Bank's problems could no longer be fixed. They threw the mess to him, just treating him as a living horse, hoping that he could create a miracle. According to Yasuda Ichinosuke's assistants, they simply announced that Fuji Bank's bankruptcy and closure were the most convenient.

But Ichinosuke Yasuda cannot do this because Fuji Bank is the legacy of the Yasuda family. Moreover, Fuji Bank once ranked second in the second place at the peak of the bubble economy. It was always popular and the historical heritage was heavy and could not be easily abandoned. However, in recent years, it not only lost its international status, but also its ranking in the domestic market has declined year by year. In recent years, its operation has been difficult and no longer the glory of the past.

Yasuke Yasuda analyzed the formation of bad debts at Fuji Bank, mainly because of the stolen loans during the peak of the economy, which exchanged for a large amount of real estate and art collateral. As a result, after the bubble economy burst, the prices of these glamorous collaterals fell sharply, among which the real estate prices fell from peak to only one-tenth of the remaining price for sale, and no one was interested in it. Fuji Bank was forced to swallow the bitter fruit of this huge loss.

The mortgaged artwork is even more outrageous. In the Asian financial crisis, a large number of "house slaves" appeared in Asian countries. "card slaves" and "car slaves" both refer to the decline in the value of bank loan collateral, causing debts to be greater than assets to form negative assets. But few people know that many banks have also become "painted slaves", which means that people invested in Western artworks crazily at the peak of the economy in the 1980s. From 1987 to 1990, they imported artworks worth $13.8 billion from the West in just three years. Now, with the *** economy in a slump, the mortgage value of these so-called classic Western artworks has fallen worse than real estate, and most of them have become worthless. Fuji Bank's losses can be imagined.

In addition, Yasuda Ichinosuke proposed to retrieve the previous mortgagors of art to redeem these "garbage art" and encountered strong resistance from the family. After careful investigation, he learned that many of these artworks were the products of collusion between officials and businessmen. At that time, *** politicians opened the door to convenience for many irregular business methods of Fuji Bank, and he had to express his opinions on this. The international auction prices of artworks have always been opaque, so Fuji Bank took advantage of this loophole and obtained a large number of artworks from politicians at a high price. He used auction spreads or mortgage loans to give relevant politicians a political donation. This is actually a money laundering method, which means that Fuji Bank could not send back these worthless "garbage", which is destined to be a "dead debt" that cannot be collected.

There are many other collaterals like real estate and artworks that cannot be cashed out and involve various power and money transactions. In recent years, Fuji Bank, as the pillar of the Furong Consortium, has also assumed a lot of responsibility to cover up business mistakes for consortium companies. This work of helping people wipe their butts has made the bad debts that cannot be seen by Fuji Bank, which are not only unable to take action, but also requires a lot of money to store and cover up. Fuji Bank's operations have not improved for a long time, and the holes in the loss are naturally getting bigger and bigger.

At the beginning, it was not because it was the pillar of the Furong Consortium and could not fall easily, causing the major earthquake in the Furong Consortium. Yasuda's family urgently invited all related companies of the consortium to invest in helping Fuji Bank demolish the east wall and repair the west wall, and made fake accounts on the bank statement to get away with it. I am afraid that Fuji Bank's fate will not be much better than Yamaichi Securities' situation. Now Fuji Bank can be said to have only one empty space left.

After figuring out the background of Fuji Bank, Yasuki Ichinosuke Yasuki became even more uneasy. In fact, the Fuji Bank crisis had long reached a consensus within the Fuji Bank, and the Yasuki family did nothing. The conclusion they concluded that since the power of the Fuji Bank alone could not save the overall situation of Fuji Bank, they could only choose to seek help from the outside world, put aside their pride and ask for help from other chaebols and pass the burden on them. It would be better than dragging everyone to die together.

*** companies have always had the tradition of joining together to survive the crisis in times of crisis. After the unremitting efforts of the Yasuda family, they finally reached a preliminary agreement with other chaebols. In December last year, they agreed to implement a comprehensive joint restructuring of the three major banks, Fuji Bank, *** No. 1 Quanye Bank, and *** Industrial Bank, and are preparing to form the largest bank with the largest assets this year. But now if the news of Zhongxing Group's attempt to acquire Fuji Bank, regardless of whether the news is true or not, it will have a negative impact on the restructuring of Fuji Bank, and the Yasuda family's previous painstaking operations will be ruined.

This time, Yasuda Ichinosuke proposed to acquire Daewoo Group before Zhongxing Group, which would still gain the upper hand. He relied on the impression that the company was well-funded and advanced in the eyes of Koreans. If Zhongxing International switched to acquiring Fuji Bank, not only would Daewoo's acquisition plan be ruined, but it would also cause another major earthquake within the Furong Consortium. This consequence was something he never expected before taking action.

His partners Gu He and Wang Lanzhang both persuaded him that before verifying the authenticity of the internal news of Zhongxing Group, it would be better to slow down the acquisition plan and observe it before talking about it. But Yasutosuke Yasuke was suffering, and he knew that Yang Xing's move could be considered a hit to his pain. Now the attitude of the Korean officials are ambiguous, as if they want to drag the Daewoo bankruptcy case. The Yasuda family has long been very dissatisfied with his rash acquisition of Daewoo this time to vent their anger. For this reason, Yasutosuke Yasuke even used his property. At this time, he might be in vain for all his efforts to retreat. He had to shoot the arrow.

He carefully analyzed the current situation and found that no matter whether Yang Xing's verbal suggestion exists, he would have to settle the matter of South Korea before Yang Xing officially announced it. Now it seems that he is very close to success and only needs to make concessions to the greedy South Korean officials. So he toughly refused the request to suspend Daewoo's acquisition case, insisting that Yang Xing must be setting off smoke. In secret, he did not dare to take Yang Xing's crazy acquisition plan lightly, and almost wiped out all his confidants around him, demanded that they be careful and closely monitor Zhongxing International's recent moves.

But the "fake is true and true" movement promoted by Yang Xing obviously disrupted the opponent's established pace, and the situation was developing in the worst direction. A few days after Yasuda Ichinosuke received the minutes of the secret meeting of Zhongxing Group, four Chinese ministries and commissions jointly issued a red-headed document "On Encouraging Foreign Investment of National Financial Institutions". The document first issued a warning to the fact that the service quality of major domestic financial institutions was far behind the international average, reminding the country that the WTO, which had lasted for more than ten years, was about to end and would join the World Trade Organization (WTO). The most difficult negotiation was the reform of domestic financial institutions. What made the Chinese people very worried was that domestic financial institutions were defeated in the fierce international competition after joining the WTO. Domestic financial institutions must prepare for danger in times of peace.

According to the ideas proposed in the document, one of the solutions is to let several major domestic financial institutions go abroad to find suitable partners, and even consider acquiring and merger of some overseas financial institutions in order to gain advanced management technology and business experience of foreign financial institutions. In response to this document, financial institutions such as Industrial and Commercial Bank of China and Bank of China solemnly announced on the day of issuance that they will be pioneers with branch institutions based in Hong Kong, and entrusted Hong Kong Zhongxingfu Investment Group to find suitable partners around the world to test the waters of entering the overseas financial market.
Chapter completed!