Riyu's Back File 2011

In the cheers of everyone, the crew ended the final filming work.

Finally, after Miyazaki Sosuke announced that if the film was released, he would invite everyone to Ginza to celebrate their achievements and continue Miyazaki Sosuke's popular habit of killing.

Just like Miyazaki Sosuke said, if it's not true for movies, who would enter this hard industry?

The sincerity in Miyazaki Sosuke's words also touched everyone present. After he finished speaking, everyone laughed kindly, followed by crackling applause.

I also hope that everyone can exercise well and strive to support me. By that time, don’t leave early. Of course, you may stay in my crew, maybe everyone will leave earlier, but I will definitely give Everyone adjusts the time."

If nothing else, we will meet again in the future. As long as I have a chance, I will keep shooting until I am 30, 40, and 80 like Eastwood.

Now, I have finally completed the first feature film in my life. Since the creation of a novel, I have been looking forward to it now, relying on your support from these people, so thank you for your help and make my film The dream officially set sail.

The movie world is my world. I hope that in the future, people will miss my existence because of my movies, just like seeing "Seven Samurai" always think of Akira Kurosawa.

Life is difficult and difficult, and it is true. You should not invest your limited life into unlimited money.But if you know the meaning of "", you might understand what you should cherish the most, and perhaps you will live this life.

The investment path is endless. Those who make one million want to make ten million, and those who make ten million want to make one hundred million.

"My answer is that life is only a few decades, but good movies can always extend the length of our lives. When watching previous movies began to be called "old movies", I felt the time and said to go. Just left.

"Not long ago, a friend asked me why I didn't go to Wall Street to focus on my investment career, but instead plunged into the film industry and became a director." Miyazaki Aosuke said generously, and the crowd was also curious. Gaze.

As old people who have been in the industry for many years, most of the staff have experienced a lot of film production, and the co-directors have also met a lot. Among them, there are not many who can be as dedicated and serious as Miyazaki Aosuke.

In this, mergers and acquisitions are a sensitive topic.This company has always been repellent to mergers and acquisitions, because in this business culture, the merger of a company means that the company cannot continue to operate and has no choice but to sell to others.

Entrepreneurs of this kind are often the foundation of the business, or that the business is their own children and daughters, they are very human.

:.:

### One hundred chapters pros and cons###

Even if no one can take over the business for a while, if it is in other countries, it will basically consider selling the company to other people. The right way to get out is to succeed.

In Japan, even if no one takes over in the end, entrepreneurs will not easily hand over the company, because "how can I sell my own children to others?" This kind of thinking has been spreading in the Japanese corporate world.

In this way, perhaps you can understand the Japanese attachment to companies and the difficulty of mergers and acquisitions.

Even if certain companies, such as the Nippon Biopharmaceutical Group controlled by Miyazaki Sosuke, if they hope to have a long-term cooperation in a certain industry, especially to enter the Japanese company through investment, this method It's also difficult.

For companies, in order to obtain a stable supply of products, a small amount of external capital can be injected not only to obtain the resource tilt of new shareholders, but also to have more funds to develop themselves. This is a benign business operation.

"It's good, it's just..." But in Japan, faced with this situation, many entrepreneurs in their 70s and almost 80 would say so.

Know what they want to say without hearing the following.

Everyone knows that technology has a life cycle. It cannot be said that the technology developed 30 years ago is still thriving today. Before the next era, these technologies will be useless.

However, Japanese entrepreneurs, including the management of Ono Pharmaceuticals who rejected the acquisition offer of Japan Life Group, believe that technology needs to be continuously improved.

The current technology is constantly improving, and it is impossible to simply sell the technology at hand to others, or because an outsider has invested in his own company and knows the company’s technology well, so that the housekeeping skills are lost, the company can’t be called. It is an enterprise.

Therefore, not only the management of Ono Pharmaceutical Company rejected the tender offer, but also successfully lobbied several major shareholders to stand by their side.

But in Miyazaki's view, Ono Pharmaceutical's management is purely diehard.

It’s so good like Shiono Yoshihide. Not only can you sell the patented drugs in your hand to Eli Lilly, but also let the other party deal with the FDA and other countries’ regulatory agencies. You only have to follow behind and share the profit. Jin Yuan entered the customs and cooperated with Master Wang smoothly. He didn't even have a moth that had itchy scalp and water. This is the corporate management he likes.

Miyazaki received the report on the progress of the acquisition from Hill. He touched his chin when he saw the names of several shareholder companies that Ono Pharmaceuticals had successfully lobbied. He felt that the name State Street Bank was too annoying.

You explain that a Japanese company like Chian Tian Insurance and a son of Ono Scholarship can be successfully persuaded by the management and can understand. After all, they are all Japanese companies and can understand each other's traditional thinking.

But State Street Bank, a Wall Street capitalist, come to join in the fun at this time!Miyazaki Sosuke narrowed his eyes and thought for a long time, but he did not remember where he had offended him.

"On the acquisition of Ono Pharmaceuticals, other shareholders don’t care about it. You can ask Mr. Jim O’Neill to come forward, contact State Street and ask them what their asking price is. I think they should be dissatisfied with the price and want to raise it. Price, rather than really supporting the management of Ono Pharmaceuticals." Miyazaki Aosuke handed the document to Hill, looking at the other's delicate face and said.

"As for the shareholders and management who rejected the tender offer, we don't need to worry about it. Once the shares of Japan Trust Bank and Trust Services Bank are available, we will do our best to purchase the remaining shares and initiate a comprehensive offer as soon as possible."

After Miyazaki Cangsuke finished speaking, he patted the table and asked the other party to set it up quickly.

Japanese law stipulates that the starting point of a comprehensive offer is to obtain two-thirds of the target company’s shares, which is contrary to the one-third rule usually stipulated in the capital market, which greatly increases the acquisition cost of the acquirer. But understandable.Because Japanese business culture rejects such things as corporate mergers and acquisitions, the law must be based on the culture of the country.

However, it is interesting that according to Japanese law, after the shares held by Japan Trust Bank and Japan Trust Services Bank were acquired by Nippon Life Group, Miyazaki Sosuke did not trigger the obligation to disclose because they were from a very small number of companies. People buy shares.

No more than ten individuals will be acquired within 60 days. Only when the proportion of acquired equity exceeds one-third of the total equity does it require an announcement in the capital market.

Therefore, Miyazaki Sosuke is completely stuck at the 33% equity point and the critical point of nine major shareholders, and does not need to announce the acquisition intention to the outside world, so as to prevent the stock prices of the two pharmaceutical companies from rising sharply.

When it is ready, one day it will sign an agreement with multiple shareholders to acquire more than one-third of the shares of the two companies, which will directly trigger the critical point of the comprehensive offer and delist after privatization.

This is the idea of ​​Miyazaki Sosuke. In terms of concealment and success, the probability is still quite high.Because Goldman Sachs Group, Alpha Investment Company, and SVB Investment Company are also using overseas funds to secretly acquire shares in two pharmaceutical companies in the market.

In a sense, this is a kind of illegal operation, because they belong to Miyazaki Sosuke’s concerted actions, but Miyazaki Sosuke doesn’t care at all. This kind of action is basically difficult to be detected by the regulatory authorities. The Financial Services Agency does not yet have the ability to check the flow of overseas funds.

In addition to the one-time acquisition of two established companies, the financial pressure is a bit high, Miyazaki Cangsuke is still very interested in facing this kind of acquisition for the first time, and he has a great deal of success in the acquisition. Expectations.

Because Miyazaki Sosuke’s quotation for the two companies gave the connotative value much higher than the price given by the Japanese company’s mergers and acquisitions, reaching the industry standard value in the international market.

In the M&A projects of Japanese companies, the M&A quotations often offered are lower than the industry standard value in the international market.

Intrinsic value was originally a common tool used to evaluate the value of shares in insurance companies. It was later gradually used by financial institutions such as monetary funds. It is now commonly used to evaluate the stock price of a company. It includes not only shareholders’ equity, but also The estimate of the value of the future business is the expected estimate.

To a certain extent, the intrinsic value can reflect the company's valuation of the long-term dependence on shareholder value, which is simply a premium acquisition.

However, Japanese corporate mergers and acquisitions do not care about this western product, and sometimes even the purchase price proposed by Japanese companies is much lower than the current stock price. For example, the previous M&A invitation initiated by Japan Life Insurance Company to Mitsui Life Insurance Company, yes, another Also known as Nippon Life Insurance, the offer price of its takeover offer is only 0.4 times the value of Mitsui Insurance Company's connotation, while Miyazaki Aosuke’s is 1.15 times.

Therefore, the shareholders of Mitsui Life Insurance quietly rejected it, and Miyazaki Sosuke entered the next stage smoothly.

Therefore, for the ignorant management of Ono Pharmaceuticals, Miyazaki Sosuke decided to wait until after the acquisition, and would definitely dismiss the other party as a whole, leaving none.

### One hundred and one chapter position###

After solving the problem of acquiring two small and medium-sized pharmaceutical companies, Miyazaki Sosuke began to turn his attention to the film.

The completion of the filming of "Eternal Sleep" means that the next stage is the post-production stage.

Since the film was shot digitally, Miyazaki did not have to worry about the film problem, which has to be said to be a convenience brought about by technological progress.

For Miyazaki Sosuke, making money is just for work, and making movies is where the real interest lies.

It is film directors like him who stand in this position, and also work with famous directors such as John Ford, Godard and Kubrick.

As Miyazaki Sosuke believed, "this movie" is first a movie, and then this movie. This is the position of a world filmist like him.

Movies have the exclusive language of movies, and if you are familiar with this language, you can equally understand the movie works of any director in other countries in the world.

Film directors, such as Miyazaki Sosuke, are residents of the world republic named after the film regardless of nationality or national boundaries.