Chapter 27: The Vanished Decade (5)
The first financial scandal, Sumitomo Corporation's subsidiary Ito-Yokado Bank was in trouble, and on September 20th, the Japanese Ministry of Finance ordered Sumitomo to allocate 200 million yen to rescue Ito-Yokado Bank. The Ito-Yokado Bank is a well-known bank in Japan, and this liquidity crisis has shocked both Japan and the international financial community!
However, when the Sumitomo group was busy putting out the raging fire ignited by Itochu Bank, John Paulson grabbed a large number of Nikkei index options and went to Sumitomo Insurance, with over 1 trillion yen in bets causing Sumitomo Insurance to collapse instantly!
The second-largest regional credit union, Chiba Kogyo Bank, announced its bankruptcy, and at the same time, Pacific Bank and eleven other small banks experienced bank runs. The Ministry of Finance ordered Chiba Bank to rescue Chiba Kogyo Bank. As a rescue team consisting of 14 major banks designated by the Ministry of Finance rescued the other 11 small banks, the Tokyo stock market plummeted to 16,776 points. At this time, John Paulson appeared behind these 14 major banks like a ghost.
Yasuda Insurance, Meiji Insurance, Nippon Dowa Insurance, Asahi Mutual Life Insurance, Kyoei Fire & Marine Insurance... Excluding Mitsui which had already reached a preliminary agreement with Omi, the Japanese insurance industry closely related to these 14 major banks was hit by a strong attack from JR Investment on the same day!
In mid-October, Sumitomo Bank, Japan's most prestigious bank, was again embroiled in a financial scandal involving the misappropriation of 200 million yen by an executive to speculate on stocks. The chairman of Sumitomo Bank, Kazuo Tateishi, a household name and hero in the banking industry, was dismissed from his post!
In early November 1990, when the Japanese general election was in full swing, a scandal broke out in the Japanese media led by Akahata, TBS TV and Asahi Shimbun that financial giants including Goldman Sachs had misused pension funds of Japanese citizens for speculative dealings.
In mid-November, former Japanese Prime Minister Noboru Takeshita exposed the bribery scandal of Liberal Democratic Party (LDP) member of parliament Bunei Abe and the corruption case involving LDP Secretary-General Shin Kanemaru, and announced his departure from the LDP to reorganize the Japan Democratic Party.
At the same time, Takeshi Yamaguchi and Hideo Tanaka announced their departure from the Liberal Democratic Party to form the New Pioneer Party of Japan!
In late November, Akahata and TBS television successively exposed the tax evasion case of LDP president Shin Kanemaru.
In early December, Kaifu Toshiki left the LDP and formed the Liberal Reform Union.
Later in the month, Ozawa and Hata led 44 LDP members out of the party to form the Japan Renewal Party.
The Liberal Democratic Party, which has dominated Japan's political scene, is crumbling!
The Liberal Democratic Party, which had lost a large number of seats, was defeated by the ruling coalition led by the Socialist Party, which won 313 out of 480 seats in the House of Representatives, breaking the Liberal Democratic Party's invincibility! The leader of the Japan Socialist Party, Doi Takako, became the first female Prime Minister in Japanese history, and began to form a new cabinet with her as the center! Tanaka Nanae was nominated as the Minister of Education due to her excellent teaching skills, which Jerry had never expected!
December 25, 1990, a meeting of the consortium led by Mitsui Group was held at the headquarters of B Property. All members attended except for the six major Japanese conglomerates, and representatives from all 170 insurance companies involved in the Nikkei Index Warrant storm. The consortium made a final decision to repay over a period of ten years.
Sumitomo Bank, Mitsui Bank and Japan Long-Term Credit Bank announced a merger to form United Financial of Japan. US JR Investment announced that it holds 83% stake in United Financial of Japan!
Up to now, in the proxy war with Japanese insurance industry, King Fund wins a complete victory!
Japan is entering the decade of disappearance!
March 1991.
Japan, Tokyo, Minato-ku, Tokuma Shoten Co., Ltd.
"Hello! Mr. Dejian!"
"Hello! Miss Cai!"
Tokunaga was not surprised at all by Tanaka's arrival. Due to Tokunaga Bookstore Group's long-term slack management and the impact of Japan's economic bubble bursting, in early 1991, Tokunaga Bookstore had already fallen into a state of broken capital chain. American JR Investment, which controlled Japan United Credit Bank, took advantage of the situation and offered conditions that were so favorable that Tokunaga could not refuse! And the mastermind behind American JR Investment was none other than the newly appointed Minister of Education, Science and Technology, Tanaka Kanako.
"Tokugane-san, please don't be so formal! Although Tokugane Shoten has merged with Shonen Ohmi, you are still the president of Tokugane Shoten. As a senior in the publishing industry, you don't need to be like this!"
De Jian Kang smiled and said he himself was not a rigid person!
"This time, I mainly want to discuss with Mr. Tokuma the future development direction of Tokuma Shoten! I know that Mr. Tokuma is also very familiar with the comic industry, so I have a plan here!"
Tanaka Nanako pushed a document over!
De Jian Kang quickly took it over, opened it and took a look, then quickly raised his head, "Miss Cai Cai Zi, this..."
"Tokuma-san, please don't be surprised! This is something I've been thinking about for a long time! Especially after being appointed as the Minister of Education and Science in Japan, this idea has become even more solidified! You should know that I am also the leader of the New Komeito party. So on one hand, I need to take care of the development work of the political party, and on the other hand, I also need to take care of the educational development of all Japan, so I think I won't have more time to take care of the publishing company's development work! My mother, Tanaka Rumi-san is now helping me manage the publishing company, but her expertise is in finance after all, so after thinking it over and over again, I decided to ask for your help, Tokuma-san!"
"But, Nakano-san, even so, there's no need to merge and reorganize the Omi boy with Tokiya Books, is there?"
"This merger is an inevitable trend! The ultimate goal of Shonen Ohmi is to become a comprehensive publishing house! Unfortunately, the literary book publishing department of Shonen Ohmi has always been a weakness, but Tokuma Shoten's literary publishing can make up for this. On the other hand, Shonen Ohmi's manga publishing business can also compensate for Tokuma Shoten! This is a very beneficial thing for Shonen Ohmi, Tokuma Shoten, and the future of Japan's publishing industry, so please don't refuse me, Mr. Tokuma! I beg of you!"
Tanaka Nanako's humble request, Tokiwa Kaito naturally had no reason to refuse!
Soon, news about Omi Shonen and Tokuma Shoten reorganizing into Tokuma Shoten Intermedia Group spread throughout Japan!
