Riyu's Back File 2011

"Miyazaki, did you say that Nomura would be fooled?" Sugimoto Kazuma and Miyazaki Sosuke stood by the glass wall of the conference room, looking at the departing Nomura Holdings convoy, Sugimoto and Ma turned to Miya, who was holding both hands. Qi Cangsuke asked.

"I don't know, but even if we are not fooled, we still make a profit based on the first transaction." Miyazaki Aosuke didn't care about Nomura's choice. The reason why he proposed the second transaction plan was to facilitate the later cancellation. The contract was to take back the shares of JAL Group and complete the contract with UBS.

The reason why the second one set up a contract termination clause is a specially arranged pit. Goldman Sachs will officially start its short-selling plan against Nomura Group in September. At that time, the struggling Nomura Securities will naturally have no more funds to complete the second delivery. , SVB can naturally terminate the contract on this ground.After that, the first consideration will not be returned for a few months, and will be considered after the short-selling operation is over. This will lock up this part of the funds and continue to retain the shares of JAL Group, which will kill two birds with one stone.

If Nomura Securities really gritted its teeth to complete the transaction, then Goldman Sachs would be even more happy.The payment of more than 3 billion in working capital not only filled the Goldman Sachs Group with firepower, but also reduced its own ammunition. Then the Goldman Sachs Group can arrange Nomura in the stock market, I am afraid that even Nomura can't imagine.Using the opponent's money to beat the opponent is like a fool, selling himself and helping to count the money.

But in the final analysis, Miyazaki Sosuke did not take his commitment to UBS in mind at all. If he could keep the shares as planned and complete the contract with UBS, then everything would be fine, but if he could not keep the shares of JAL Group, then It’s nothing more than continuing to wrestle with UBS. It’s a big deal to fight a lawsuit. In the end, even if you lose, you can buy a lot of time to figure out a solution. If it doesn’t work, you’ll lose money by defaulting. As long as Goldman Sachs succeeds in shorting Nomura, who cares Liquidated damages.Oh, no, maybe the legal department will care. After all, they won the lawsuit and their year-end bonus will be higher.

### Chapter Forty-two Assault Horn###

At the end of August, SVB Investment Co., Ltd. and Nomura Holdings Co., Ltd. reached an agreement to sell its shares in JAL Group at a premium. The signing ceremony of the two parties was arranged in the building of Goldman Sachs Group in Minato, which is also in the conference room of SVB Group. Many Chinese and foreign media were invited to the scene.

"Everything is going to trouble Sugimoto-kun." Miyazaki said to Kazuma Sugimoto in the office upstairs. The signing ceremony is about to come. As the person in charge of SVB, Kazuma Sugimoto will come to the stage to sign a contract with Kaneshiro. Shake hands, then accept an interview with reporters.

"Where, if it weren't for Miyazaki-kun's plan, we wouldn't have gotten everything done so soon." Sugimoto and Ma were still a little excited, and were about to complete the last step before launching the general offensive. The big hole has been dug, just wait. Nomura jumped down.Thinking of the bonuses they could receive after the success of this plan, Sugimoto and Ma were not excited.

Seeing that the time was approaching, a group of people walked down the corridor without taking the elevator, but directly from the fire exit. After passing a corner, they came to the signing conference room. Miyazaki Sosuke looked up and saw that there was a plug inside. It was full of news media and cameras, and I glanced around and found that basically RB's major media and some major overseas media have sent people.

"Miyazaki-kun, Sugimoto-kun." As soon as the SVB side came to the venue, Kinjo Odor walked over from the side of the rostrum, and suddenly changed to a kindly face facing the rigid and ruthless faces of his subordinates. Smile, strode over.

Immediately after the two parties exchanged greetings, each introduced the signing process, and then began the formal signing ceremony.After the two parties’ staff conducted the final review on the consistency of the contract, Sugimoto, Ma and Kanazawa signed the contract. Then, under the flash of the media, the two held their hands tightly. The multi-billion equity transaction was officially signed.

"Congratulations, Kinjo-kun, in the future Nomura will be the largest shareholder of the JAL Group." Sugimoto Kazuma smiled at Jinjoo after the reporter finished shooting. This is why Nomura is willing to pay part of the premium. Becoming the largest shareholder of JAL Group will naturally expand its voice in the board of directors.

After the signing ceremony, the next step is for the executives of both parties to attend the press conference.The people from Miyazaki Sosuke and Goldman Sachs temporarily retired, and the staff led representatives of SVB and Nomura into the interview room.

"Mr. Kinjo, why did the Nomura Group choose to acquire the shares of JAL Group at this point in time? Is it because of the absolute confidence in the JAL Group that is about to relist?"

"Mr. Kinjo, the Nomura Group has reached two huge equity transactions within one month in a row. Is the Nomura Group's capital flow sufficient?"

"Mr. Sugimoto, SVB Investment Group chose to withdraw at this point in time when JAL Group is about to relist. Is it because JAL Group is not optimistic about the prospects of JAL Group? Do you think JAL Group can still perform well after relisting?"

Regarding the acquisition of shares of JAL Group by Nomura Group, it has officially become the largest shareholder of JAL Group, and the media and society have received mixed reviews.People in the financial circles have said that Nomura Securities has implemented two large-scale equity acquisitions in a month, which is an extremely risky behavior. This will not only reduce the group's cash flow, but it is still unknown whether the JAL Group will perform outstandingly after its listing. Nomura Securities’ acquisition of shares in JAL Group at a premium is likely to be a loss-making business.

However, unlike the comments made by the financial circles from the perspective of commercial risks, the RB community has expressed high praise for Nomura Securities' behavior.The RB nation is a contradictory nation. On the one hand, they are very superstitious of foreign developed countries, especially the United States, which is simply a kind of blind worship. On the other hand, they have the national pride that is contrary to the superstitious Western countries. Nomura Securities Taking back the shares of RB Airlines, a company that RB people are proud of, from the hands of foreign investment companies, and becoming the largest shareholder of RB Airlines in one fell swoop. From the perspective of RB society, it is a matter of raising national ambition, so social news media are all about it. High praise.

Just like Sankei Shimbun’s evaluation of this acquisition, “You can never believe that a foreign company will help you rejuvenate. It will only be RB people and RB companies like Kazuo Inamori and Nomura Securities that can help the JAL Group rebirth. ."

Yoshihiko Noda, Minister of Finance of RB, who just went to Singapore to attend the Asia-Pacific Finance and Finance Conference, said in an interview with the media that he applauded Nomura Securities' acquisition behavior and praised it as the conscience of RB Corporation.

Just as Noda Yoshihiko also encouraged Japanese companies to continue their efforts in the post-financial crisis and make their due contributions to revitalizing the RB economy in the media, the Goldman Sachs Group’s general attack on Nomura Securities officially kicked off.

.........

On September 1, 2011, SVB Investment Co. initiated a lawsuit in the Tokyo District Court and brought two companies, RB Aviation Group and Nomura Control Group, to court. The reason was that during the first bankruptcy and reorganization of JAL Group, the two parties had hidden existence. Illegal activities such as accounts and secret related transactions, as well as black-box operations, caused huge losses to the SVB investment company at that time.Although SVB Investment Company has reached an agreement with Nomura Holdings, before the transaction is completed, SVB still maintains the identity of the JAL Group shareholder and is still eligible to initiate litigation.

Moreover, SVB not only disclosed a lot of evidence of insider trading between Nomura Holdings and JAL Group at the press conference on the grounds of doubting the impartiality of the RB Tokyo District Court, but also requested the Tokyo District Court to give a fair trial, otherwise it would appeal to the Supreme Court. Even the lawsuit was transferred to the United States for filing.

Under the impression of this incident, the shares of Nomura Holdings and Nomura Securities Group began to plummet as soon as the market opened on the same day, and the re-listing plan of JAL Group was also delayed.A spokesperson for JAL Group said that this case will not have much impact on JAL Group’s listing plan, but the market’s re-listing of JAL Group has changed from being optimistic to uncertainty.The road to revival of JAL Group has cast a heavy shadow.

Local protectionism will exist everywhere, especially for certain pillar companies with a wide range of influence. Apart from using the police to pursue crimes for thousands of miles, it is common to affect judicial justice. Too much is not only applicable to the financial industry.

As long as the SVB Investment Bank initiates a lawsuit within the scope of RB, especially Nomura and JAL, which are the iconic companies of RB, it is basically impossible to win, at least not in the short term, even if the evidence is sufficient.

However, the reason why SVB and Goldman Sachs filed this lawsuit is not to win the lawsuit, but to fight the lawsuit and let people know it.Before the outcome of the lawsuit, SVB can use this to freeze the first funds paid by Nomura and continue to publish negative news to attack Nomura Securities' stock price.

This is just an assault call from Goldman Sachs against Nomura Securities.

### Forty-third chapter down wild big curtain opens ###

On September 2nd, Standard & Poor’s, one of the world’s three largest rating agencies, issued an announcement in New York stating that in view of the suspected insider trading of Nomura Securities’ affiliates, it will weaken its market position, reduce the contribution of development projects, and two equity With regard to liquidity risks in the transaction, Standard & Poor's decided to lower the rating of Nomura Securities from AAA to BAA3, and warned investors that the potential risks are greater.

On September 3, the Indian regulator stated that it had discovered that Nomura Securities had been involved in illegal acts such as insider trading and bribery in several previous acquisitions. New evidence showed that there was a large number of internal operations within Nomura Securities. Therefore, the regulator All projects of Nomura Securities in India in the last five years will also be checked for legality.The news broke that Nomura Securities' investment projects in India have been affected to varying degrees, and its stock price has fallen further.Although a spokesperson for Nomura Securities stated that the investigation by Indian regulators will not affect Nomura Securities' investment projects, the market has expressed a negative attitude towards this.

At the same time, Morgan Stanley's hedge fund HELEN announced that it will launch a hostile acquisition of Powai Assets in India. It plans to acquire more than 30% of the equity to become the company's largest shareholder. Powai) Asset Management’s technical staff can well complement Morgan Stanley’s shortcomings in financial technology research and development. Once the acquisition is successful, Nomura Securities will lose control of the company in this acquisition.

On September 4, the well-known short-selling company Muddy Waters released a research report. In the course of several months of investigations on Nomura Holdings, a subsidiary of Nomura Securities, it was found that Nomura Holdings’ revenue data and the world’s four largest accounting firm PricewaterhouseCoopers The revenue data released by the investigation does not match, and there are serious data fraud problems.

International news is raging, and Nomura in China has also suffered huge public opinion pressure.

First of all, the "Daily Shimbun", one of the top five news stories of RB, used a front-page headline to disclose in a newspaper on September 3 that Nomura Securities had provided illegal benefits to affiliated companies of the General Chamber (with a background of a violent group).Refusal to check, the real estate company operated by the General Assembly House opened an account with Nomura Securities in March 1993. In order to further please the General Assembly House so as to obtain cooperation at the annual general meeting of shareholders, Nomura Securities Co. The executive director once directly consulted the director of the company in charge of stock trading and decided to illegally provide customer information to the clubhouse to facilitate its profit, which caused an uproar in the public opinion.The "Daily Shimbun" report was widely reprinted by RB domestic and foreign media, which caused a lot of criticism of Nomura Securities.

But before the public opinion was reflected, the Asahi Shimbun on September 5 again disclosed another Nomura Securities scandal in the newspaper. The newspaper used two pages to disclose in detail that Nomura Securities had a loose internal control. Employees leak information on the stock offerings of InpexCorp, Mizuho Financial Group Inc and Tokyo Electric Power. An external lawyer's investigation found that Nomura Securities regularly leaked undisclosed corporate capital increase information to investors to help customers Seek huge illegal benefits in the stock market.

As a company closely related to the Liberal Democratic Party, the scandal of Nomura Securities triggered a series of disturbances and also ushered in attacks by opponents of the Liberal Democratic Party.Many politicians, including many members of the Democratic Party, have told the media that Nomura Securities has a long-standing relationship with the Liberal Democratic Party. The Prime Minister must initiate an investigation into Nomura Securities and cannot sit by and watch the reputation of the RB country suffer. .

On September 6, under pressure from opposition parties and public opinion, Prime Minister Yoshihiko Noda, who had just successfully formed a cabinet, had to announce that he would investigate the suspected illegal interests of Nomura Securities, although he just praised him as an RB just a week ago. The conscience of the enterprise.Subsequently, an investigation team led by the Minister of General Affairs Tatsuo Kawabata will be stationed in Nomura Securities to formally initiate a judicial investigation into the suspected insider operation case of Nomura Securities.

The next day, on September 7, Nomura Securities CEO Kenichi Watanabe and COO Shibata Takumi resigned for leaking internal information to clients of the brokerage department, and held a press conference to apologize to all sectors of society. Xiang's resignation was approved by the board of directors that night.

CEO Kenichi Watanabe and Chief Operating Officer Shibata Takumi were just scapegoats launched by the Nomura Securities Board of Directors. Nomura Securities subsequently announced that the CEO position will be succeeded by Koji Nagai, President of Nomura Securities.In addition, the position of Nomura Holdings' chief operating officer Shibata Takumi will be taken over by the current managing director, Jun Yoshikawa, head of Nomura's North American business.

Although the resignation of the two senior executives has caused most of the Nomura Securities scandal, the scandal about Nomura Securities is still fermenting and has a serious impact on the normal operation of Nomura Securities. In addition, the incident has seriously affected international investors’ With the professional ethics of RB securities firms and the confidence of the RB financial regulatory system, Nomura Securities' stock price has begun to continue to plummet.

Unfortunately, to the disappointment of Nomura Securities, the attack by Goldman Sachs is far from over.It seems that Nomura Securities, which has been in constant trouble, is not bad enough. On the third day after CEO Kenichi Watanabe resigned, the Italian financial police froze the assets of Nomura Securities' 1.8 billion euros due to illegal transactions between Siena Makiyama and RB Nomura Securities , Of which 88 million euros belong to the gray commission for the transaction, and the remaining 1.7 billion euros are the trading margin of Nomura Securities in Mushan Bank.

In this operation, the Italian financial police also respectively frozen the property of the former president of Mushan Bank Mousari, executives Pooh and Baldassari totaling approximately 14.5 million euros.

The Italian Public Prosecutor’s Office and the Financial Police also included Sadji Seyid, the CEO of Nomura Securities Europe at the time, and Ricci, executive director of the fixed income division, as the subjects of the investigation, accusing them of severely obstructing regulatory agencies, severely violating the financial system and conducting false information release.

In 2009, Mushan Bank and RB Nomura Securities "secretly" signed a 3-year derivative contract on debt restructuring, code-named Alexandria, which caused Mushan Bank to suffer heavy losses in this transaction.For this reason, Giuseppe Mussari, the former president of Mushan Bank and Chairman of the Italian banking industry, who was in office when the contract was signed, offered to resign after the news broke.

Musari insisted that he did not know about the transaction and that he did not have any wrongdoing. However, RB Nomura Securities claimed to hold the video conference record during the negotiation and determined that the transaction was approved by the board of directors of Mushan Bank and relevant executives.

The exposure of this incident was tantamount to adding fuel to the fire. On the same day that the Italian police held a press conference, Nomura Securities' stock price continued to fall by as much as 6 percentage points. From the beginning to the present, Nomura Securities' stock price has fallen. Over 40%, the stock price is almost cut in half.

A scandal broke out with Nomura Securities, and the ripples caused by it spread farther and farther, dragging Nomura Securities to sink quickly.With the bankruptcy of credibility, the exhaustion of liquidity, countless lawsuits, and the declining stock price, even those who do not understand finance know that Nomura Securities is dangerous.

Goldman Sachs' plan is also preparing for the final profit carnival.

######

Horikita Maki is currently one of the top brands of Gan Li, and early next year, she will be promoted to the top of Gan Li, not one of them.

The reason for this is that Kuroki Akisa, another top brand of Gan Li firm, intends to get married early next year. He has already informed the firm in advance. Despite the firm’s strong opposition, Kuroki’s strong desire is obviously not the firm’s ability to stop it. of.

Therefore, Naoyu Okada, the president of Ganli Firm, has been very upset during this period. One of the cash cows under his control has gone, and only another one is left to exploit. Next year, the firm’s income will definitely be greatly reduced. Helping Maki Horikita dig resources, I want to increase the workload of Maki Horikita to make up for the loopholes left by Kuroki Akisa after getting married.

"Hello, Director Tokunaga? I'm Okada of Gan Li. I haven't seen it for a long time...." Nao Yum Okada nodded while sitting on the chair of the president's office with a phone in his hand.After a while she ended the call and turned to the woman sitting quietly on the sofa.

"There is a very important party tonight, remember to dress nicely." Okada straight bow said to Maki Horikita kindly, "I will send a car to pick you up tonight, don't be late."

"I see, if there is nothing wrong, I'll leave first." Horikita Maki finished speaking blankly. Seeing President Okada Naoko nodded, he left the office with a bag.Holding Horikita Maki away indifferently, Naoko Okada sighed helplessly. She is also a woman, and naturally she is unwilling to let her actresses obtain resources through accompaniment.

However, the Gan Li office is just a small office. When it was first established in 1996, the registered capital was only 10 million yen. After more than ten years of development, the resources in hand are still terribly scarce. At the same time, I can barely recommend one. Artists, if they want to obtain some highly competitive high-quality resources, they have to find ingenious ways. For example, letting their actresses accompany them.

This is the sorrow of small businesses and small artists. In the almost rigid entertainment circle, unless you are a talented person like Takuya Kimura and SMAP, you can grow on your own step by step, and all the resources are yourself. Talking about it, otherwise, while enjoying the resources brought by the firm, you must also contribute to the development of the firm, in various senses.