Acquisition of Fuji TV?
As soon as he heard this so-called project, the first thought that Miyashita's mind was to curse, but soon, a memory of his previous life flashed through his mind, and at the same time, a person's name popped up: Kuojiang Guiwen
Miyashita Kita's previous life was around 2006. As the president of Japan's Vitality Group, Takafumi Hiroe also initiated an acquisition from Fuji TV. At that time, the Vitality Group Company had just been listed for less than five years, with total assets of only more than 30 billion yen. At that time, Fuji TV was a large media group with broadcast operations, film and television production equals one, and annual sales of more than 100 billion yen were exceeded 100 billion yen. At that time, Fuji TV was a large media group with broadcast operations, film and television production equals one, with annual sales of more than 100 billion yen.
At that time, if the Vitality Gate Group and Fuji TV were compared, the two sides would be the difference between a small snake and an elephant. But even so, the Vitality Gate Group, which adopted malicious off-site acquisition methods, almost achieved its wish and truly accomplished a feat of snake swallowing elephant.
However, in this malicious acquisition incident, the conservatism of Japanese society and the xenophobia of upper class were fully reflected. Although the measures adopted by Kuojiang Guiwen at that time were shameless, they were completely in line with laws and regulations. In order to prevent this acquisition, Japan, even the Japanese government, used various illegal or even illegal means. The Japanese government even labeled Kuojiang Guiwen as illegal transactions and almost threw him into prison.
Now, time has passed, and Kita Kita of Miyashita has been reborn in this era. What he did not expect was that although the Vitality Gate Group is just starting, Masayoshi Son, the president of SoftBank Group, has set his sights on this piece of fat and is ready to take action before Rio Jiang Guiwen
Joni couldn't know that there was a memory from the future of Kita Kitani from the Miyashita, and he didn't know that he knew the problems of Fuji TV. Therefore, when talking about the acquisition, he was full of surprise.
In the past life of Miyashita Kita, why could Vitality Group initiate the acquisition of Fuji TV with a market value of 30 billion yen?
You should know that Fuji TV's own assets are as high as 500 billion yen, and its annual commercial sales are as high as 100 billion yen
This kind of capital operation of the snake swallowing elephant sounds like a fantasy and is simply impossible to achieve.
The reason why Kuojiang Guiwen was successful back then was because there were great problems with Fuji TV's own equity structure. Kuojiang Guiwen grasped this problem and almost took this behemoth.
As a large private TV station, when Fuji TV was founded, its main founder was the original Japanese broadcasting company
In Japan in the 1950s and 1960s, Japanese broadcasters almost monopolized radio stations across Japan. They were strong in themselves and were an absolute giant. Therefore, they controlled more than 22% of the equity of Fuji TV and were the veritable largest shareholder.
However, with the development of the TV industry, the status of broadcasting, as a form of media, has become increasingly weak since the 1970s. Japanese broadcasters, whether it is profitable or their own asset scale, have also shrunk seriously with this process. Now, the company's market value has shrunk to about 200 billion yen, but even so, it is still the largest shareholder of Fuji TV.
Fuji TV's market value exceeds 500 billion yen, but itself is a subsidiary of Japan Broadcasting Corporation with a market value of only 200 billion yen. This is called an inverted phenomenon in the capital structure relationship, which is very dangerous, because as long as someone can control the advantageous equity of the parent company, it is equivalent to controlling the equity of the subsidiary with a large market value at the same time.
Take Japan Broadcasting Corporation for example. If someone initiates an acquisition of it, he only needs to pay less than 100 billion yen to become its largest shareholder and have absolute right to speak.
Since Japan Broadcasting Corporation is the largest shareholder of Fuji TV, it means that the acquirer only used less than 100 billion yen to control Fuji TV, which has a market value of more than 500 billion yen. Some people can do this transaction.
This problem of Fuji TV has existed for a day or two. The reason why no one took action in the past was that according to Japanese policies, foreign investment cannot initiate acquisitions of large Japanese companies, let alone absolutely holding shares.
In Japan, based on long-term traditions, no one will do such things rashly. For the Japanese, relying on the strength of money to rob others is an unacceptable thing, and this is also the main reason why Guiwen Juejiang in his previous life failed.
To a certain extent, Masayoshi Son and Guiwen Juejiang are the same type of people. Needless to say, the former is a Korean who travels to Japan has no status, while the latter is from the bottom of the class. All success comes from his own efforts and has no intersection with the so-called upper class society, so he will be rejected by the upper class society.
But the two of them were unwilling to accept it. The more they were unacceptable, the more they wanted to break into this circle. Even if they aroused opposition from each other, it seemed that the same was true for the same.
However, there is another difference from Kuojiang Guiwen in his previous life, that is, Masayoshi Son is obviously more powerful now. In terms of market value, his SoftBank Group has far surpassed the Vitality Group in his previous life. Just a Yahoo Japan has become the favored target of investors, so he now has a large amount of cash in his hand.
Of course, if you rely solely on the strength of SoftBank Group, it is not so easy to win the Japanese broadcasting company as planned. After all, market value and cash flow are two different things, so this is the fundamental reason why Barclays Capital participated in it.
Now it seems that SoftBank Group under the leadership of Masayoshi Son and Barclays Investment should be considered partners for each other to obtain. Their cooperation can help each other solve some of the most fundamental problems in acquisitions.
SoftBank Group lacks sufficient cash, which Barclays Investment can help solve. As a foreign investor, Barclays Investment needs to obtain the opportunity to enter Japan through SoftBank Group, so as to get a share of the acquisition.
In this way, from the perspective of the Japanese national feelings, Masayoshi Son, who brought the wolf into the house, is obviously a standard Japanese traitor and a traitor. He is no different from the previous life's Juejiang Guiwen who attracted Lehman Brothers.
But then again, as a capitalist, especially a capitalist at the level of Masayoshi Son, national feelings were originally a very false thing, not to mention that he was not originally a Japanese
But for Kita Kitani, he cannot participate excessively in this acquisition, because he does not want to take this risk, and there is no need to take this risk. After all, he was not the main operator of SoftBank Group.
The eyes turned around the faces of Masayoshi Son and Joni, and Kita Miyashita smiled and said: Sun, Mr. Joni, I have to say, your vision is very sharp, well, the plan built is also perfect, if you are really ready to put it into practice, I believe that there is still a great hope for success.
So, Akamoto-kun, do you agree? Son Masayoshi showed excitement and couldn't wait to say
For Masayoshi Son, acquiring Fuji TV is not just to have enough food, but because this project is very important to him. To be more precise, acquiring a traditional media like Fuji TV is very important for the future development of Yahoo Japan.
Don't think that Fuji TV is a simple TV station. In fact, it is a huge media group. Its name not only includes TV stations, but also "Sankei Shin-Bo" and "Sculpture Nomori Art Museum and Publishing House. It has nearly 80 subsidiaries under its name, covering many categories such as film and television, music, newspapers, radio, television, publishing, etc. It even has its own professional baseball team.
What does Yahoo Japan do?
Obviously, this is a portal website, and in this field, content is always the king. Once you take control of Fuji TV, it can be foreseen that at least in terms of content, Yahoo Japan will definitely not lack anything.
Therefore, for Masayoshi Son, the acquisition of Fuji TV is definitely not just for money or profit, but for building an industrial chain, a full and fulfilling industrial chain. Once this industrial chain is formed, Yahoo Japan's valuation will double from the current foundation, or even more
As for Barclays Capital, Kitamiya believes that what Joni needs cannot be a lonely Fuji TV station. If nothing unexpected happens, what he likes Son should be Son's ambitions and industrial layout. Therefore, in this cooperation, what Barclays Capital really wants to get should be Yahoo Japan or even part of SoftBank Group. From this perspective, the appearance of Joni this time should not be what Masayoshi Son said. Joni came to Japan, but should be invited by him to come to Japan.
Of course, I agree, why should I object? Spread my hands, Miyashita Kita said, after all, this is a very feasible plan.
Seeing Masayoshi Son wanted to speak again, Miyashita Kita continued: However, as the largest shareholder of SoftBank Group, I do not agree to launch this acquisition in the name of the group. I only agree to Yahoo Japan as the initiator of the acquisition to participate in this acquisition action.
Why?
Masayoshi Son blurted out in surprise, Akamoto, you should be very clear that with Yahoo Japan's current size, it is not capable of launching an acquisition of broadcasters, even if it is an off-market acquisition.
Sun, if you are really confident in this acquisition, as the group's largest shareholder, I can allow you to use your own group shares as pledge, and the smile on Miyashita's face gradually restrains. I think this is fair to anyone
As soon as he heard this so-called project, the first thought that Miyashita's mind was to curse, but soon, a memory of his previous life flashed through his mind, and at the same time, a person's name popped up: Kuojiang Guiwen
Miyashita Kita's previous life was around 2006. As the president of Japan's Vitality Group, Takafumi Hiroe also initiated an acquisition from Fuji TV. At that time, the Vitality Group Company had just been listed for less than five years, with total assets of only more than 30 billion yen. At that time, Fuji TV was a large media group with broadcast operations, film and television production equals one, and annual sales of more than 100 billion yen were exceeded 100 billion yen. At that time, Fuji TV was a large media group with broadcast operations, film and television production equals one, with annual sales of more than 100 billion yen.
At that time, if the Vitality Gate Group and Fuji TV were compared, the two sides would be the difference between a small snake and an elephant. But even so, the Vitality Gate Group, which adopted malicious off-site acquisition methods, almost achieved its wish and truly accomplished a feat of snake swallowing elephant.
However, in this malicious acquisition incident, the conservatism of Japanese society and the xenophobia of upper class were fully reflected. Although the measures adopted by Kuojiang Guiwen at that time were shameless, they were completely in line with laws and regulations. In order to prevent this acquisition, Japan, even the Japanese government, used various illegal or even illegal means. The Japanese government even labeled Kuojiang Guiwen as illegal transactions and almost threw him into prison.
Now, time has passed, and Kita Kita of Miyashita has been reborn in this era. What he did not expect was that although the Vitality Gate Group is just starting, Masayoshi Son, the president of SoftBank Group, has set his sights on this piece of fat and is ready to take action before Rio Jiang Guiwen
Joni couldn't know that there was a memory from the future of Kita Kitani from the Miyashita, and he didn't know that he knew the problems of Fuji TV. Therefore, when talking about the acquisition, he was full of surprise.
In the past life of Miyashita Kita, why could Vitality Group initiate the acquisition of Fuji TV with a market value of 30 billion yen?
You should know that Fuji TV's own assets are as high as 500 billion yen, and its annual commercial sales are as high as 100 billion yen
This kind of capital operation of the snake swallowing elephant sounds like a fantasy and is simply impossible to achieve.
The reason why Kuojiang Guiwen was successful back then was because there were great problems with Fuji TV's own equity structure. Kuojiang Guiwen grasped this problem and almost took this behemoth.
As a large private TV station, when Fuji TV was founded, its main founder was the original Japanese broadcasting company
In Japan in the 1950s and 1960s, Japanese broadcasters almost monopolized radio stations across Japan. They were strong in themselves and were an absolute giant. Therefore, they controlled more than 22% of the equity of Fuji TV and were the veritable largest shareholder.
However, with the development of the TV industry, the status of broadcasting, as a form of media, has become increasingly weak since the 1970s. Japanese broadcasters, whether it is profitable or their own asset scale, have also shrunk seriously with this process. Now, the company's market value has shrunk to about 200 billion yen, but even so, it is still the largest shareholder of Fuji TV.
Fuji TV's market value exceeds 500 billion yen, but itself is a subsidiary of Japan Broadcasting Corporation with a market value of only 200 billion yen. This is called an inverted phenomenon in the capital structure relationship, which is very dangerous, because as long as someone can control the advantageous equity of the parent company, it is equivalent to controlling the equity of the subsidiary with a large market value at the same time.
Take Japan Broadcasting Corporation for example. If someone initiates an acquisition of it, he only needs to pay less than 100 billion yen to become its largest shareholder and have absolute right to speak.
Since Japan Broadcasting Corporation is the largest shareholder of Fuji TV, it means that the acquirer only used less than 100 billion yen to control Fuji TV, which has a market value of more than 500 billion yen. Some people can do this transaction.
This problem of Fuji TV has existed for a day or two. The reason why no one took action in the past was that according to Japanese policies, foreign investment cannot initiate acquisitions of large Japanese companies, let alone absolutely holding shares.
In Japan, based on long-term traditions, no one will do such things rashly. For the Japanese, relying on the strength of money to rob others is an unacceptable thing, and this is also the main reason why Guiwen Juejiang in his previous life failed.
To a certain extent, Masayoshi Son and Guiwen Juejiang are the same type of people. Needless to say, the former is a Korean who travels to Japan has no status, while the latter is from the bottom of the class. All success comes from his own efforts and has no intersection with the so-called upper class society, so he will be rejected by the upper class society.
But the two of them were unwilling to accept it. The more they were unacceptable, the more they wanted to break into this circle. Even if they aroused opposition from each other, it seemed that the same was true for the same.
However, there is another difference from Kuojiang Guiwen in his previous life, that is, Masayoshi Son is obviously more powerful now. In terms of market value, his SoftBank Group has far surpassed the Vitality Group in his previous life. Just a Yahoo Japan has become the favored target of investors, so he now has a large amount of cash in his hand.
Of course, if you rely solely on the strength of SoftBank Group, it is not so easy to win the Japanese broadcasting company as planned. After all, market value and cash flow are two different things, so this is the fundamental reason why Barclays Capital participated in it.
Now it seems that SoftBank Group under the leadership of Masayoshi Son and Barclays Investment should be considered partners for each other to obtain. Their cooperation can help each other solve some of the most fundamental problems in acquisitions.
SoftBank Group lacks sufficient cash, which Barclays Investment can help solve. As a foreign investor, Barclays Investment needs to obtain the opportunity to enter Japan through SoftBank Group, so as to get a share of the acquisition.
In this way, from the perspective of the Japanese national feelings, Masayoshi Son, who brought the wolf into the house, is obviously a standard Japanese traitor and a traitor. He is no different from the previous life's Juejiang Guiwen who attracted Lehman Brothers.
But then again, as a capitalist, especially a capitalist at the level of Masayoshi Son, national feelings were originally a very false thing, not to mention that he was not originally a Japanese
But for Kita Kitani, he cannot participate excessively in this acquisition, because he does not want to take this risk, and there is no need to take this risk. After all, he was not the main operator of SoftBank Group.
The eyes turned around the faces of Masayoshi Son and Joni, and Kita Miyashita smiled and said: Sun, Mr. Joni, I have to say, your vision is very sharp, well, the plan built is also perfect, if you are really ready to put it into practice, I believe that there is still a great hope for success.
So, Akamoto-kun, do you agree? Son Masayoshi showed excitement and couldn't wait to say
For Masayoshi Son, acquiring Fuji TV is not just to have enough food, but because this project is very important to him. To be more precise, acquiring a traditional media like Fuji TV is very important for the future development of Yahoo Japan.
Don't think that Fuji TV is a simple TV station. In fact, it is a huge media group. Its name not only includes TV stations, but also "Sankei Shin-Bo" and "Sculpture Nomori Art Museum and Publishing House. It has nearly 80 subsidiaries under its name, covering many categories such as film and television, music, newspapers, radio, television, publishing, etc. It even has its own professional baseball team.
What does Yahoo Japan do?
Obviously, this is a portal website, and in this field, content is always the king. Once you take control of Fuji TV, it can be foreseen that at least in terms of content, Yahoo Japan will definitely not lack anything.
Therefore, for Masayoshi Son, the acquisition of Fuji TV is definitely not just for money or profit, but for building an industrial chain, a full and fulfilling industrial chain. Once this industrial chain is formed, Yahoo Japan's valuation will double from the current foundation, or even more
As for Barclays Capital, Kitamiya believes that what Joni needs cannot be a lonely Fuji TV station. If nothing unexpected happens, what he likes Son should be Son's ambitions and industrial layout. Therefore, in this cooperation, what Barclays Capital really wants to get should be Yahoo Japan or even part of SoftBank Group. From this perspective, the appearance of Joni this time should not be what Masayoshi Son said. Joni came to Japan, but should be invited by him to come to Japan.
Of course, I agree, why should I object? Spread my hands, Miyashita Kita said, after all, this is a very feasible plan.
Seeing Masayoshi Son wanted to speak again, Miyashita Kita continued: However, as the largest shareholder of SoftBank Group, I do not agree to launch this acquisition in the name of the group. I only agree to Yahoo Japan as the initiator of the acquisition to participate in this acquisition action.
Why?
Masayoshi Son blurted out in surprise, Akamoto, you should be very clear that with Yahoo Japan's current size, it is not capable of launching an acquisition of broadcasters, even if it is an off-market acquisition.
Sun, if you are really confident in this acquisition, as the group's largest shareholder, I can allow you to use your own group shares as pledge, and the smile on Miyashita's face gradually restrains. I think this is fair to anyone
![[Wuxia Novels] Witch Tianjiao Beauty - Good writing, exotic, drama, classic](/templates/nvshen/themes/img/thumb_1.png)