The Kyoto Bubble Era: Starting from the Sale of Hundreds of Millions of Properties

Chapter 268
"Using deposit insurance?" Masato Chino frowned, "Is this a request from Iyo Bank?"

"That's right, Iyo Bank hopes that we can give them 9000 billion yen in low-interest loans, otherwise they will give up merging the bankrupt Toho Mutual Bank!" Mie Noyasu nodded solemnly, "According to the current situation, if Iyo Bank is unwilling If the merger is carried out, Toho Mutual Bank will inevitably go bankrupt, and it will be the first bank to go bankrupt! The storm of public opinion and crisis brought about may far exceed the 9000 billion yuan."

"Is there no way to let other banks take action?" Deputy Prime Minister Mei Zhixiong Watanabe asked, "Although Songshan is remote, there should be many big banks settled there."

"The problem is that there is no bank that has enough power to make a move. To merge and reorganize Toho Mutual, we have calculated that the cost will be about 5000 billion yen, which is equivalent to Osaka's two-year budget. Unless the consortium is willing to make a move, Toho Mutual can be merged. It's obviously a loss-making business, and no one wants to do it." Sanzhong Yekang sighed.

Yoshiro Mori, the current prime minister, nodded in agreement: "Iyo Bank is willing to make a move because of the persuasion of the staff of our banking bureau. They finally agreed to it. 9000 billion yen is also the value after our negotiation."

Iyo Bank’s argument is that “if the authorities do not provide rescue in the specific form we requested, it will be impossible to provide an explanation for the merger of Toho Mutual Bank to shareholders and local stakeholders.” Only by generating profits can it be justified.

About two weeks before the merger, the financial turmoil had already begun to sweep across the banking industry, with internal self-examinations of major banks, a large number of new bad debts, and horrifying internal corruption problems emerging one after another.

The International Commercial Credit Bank based in Luxembourg was ordered to suspend operations due to improper operations, and its branch in Tokyo also issued a temporary suspension application to the Ministry of Finance shortly thereafter.

Japanese customers opened a total of 250 accounts in this sub-branch, with a deposit amount of 1255 billion yen, but because they could no longer pay, most of the depositors suffered inexplicable losses, and then the Tokyo District Court ordered the sub-branch to carry out property preservation and special liquidation.

This incident was actually the beginning of the credibility problem in the banking industry, but after being jointly suppressed by the Ministry of Finance and the Bank of Japan, no major crisis of public opinion broke out.

But if there is another bank failure, things will be unstoppable!

The crowd fell silent.

If these bigwigs are gathered together, if it is just a mere 9000 billion yen matter, it is not worth their attendance at all. They understand that what really makes them, as well as the Bank of Japan and the Ministry of Finance, nervous is a series of follow-up issues.

The use of deposit insurance will cause public backlash, and the status quo of the banking industry will inevitably be questioned. The economic crisis is like a thin layer of membrane.

Kiichi Miyazawa was very sad because he did not want a financial turmoil of this scale to erupt during his tenure. In this way, he would become Toshiki Kaibu's backer and a prime minister who could not wash away his shame. .

"According to Prime Minister Miyazawa's instructions, we will try our best to ensure the operation of all financial institutions, and at the same time vigorously develop the real industry, and rescue those clubs that were damaged by the Gulf War but are still strong. We have a number of reported clubs here. list, they will be included in our list of high-quality clubs, and in the subsequent congressional resolutions, I will propose certain preferential and welfare policies for these clubs.”

As the minister of trade and industry, Masato Chino holds the power of commerce. Whoever he wants to support will get the full support of the country.

Miyazawa nodded and asked the secretary to distribute the list to everyone.

He also picked it up to take a look, and Beiyuan Investment, which he thought would be on the list, did not appear!

Miyazawa Kiichi remembered that Kitahara Sosuke and Chino Rin were officially engaged, but the date of the marriage had not yet been set. Since he was his son-in-law, why was his company not on the list?
There are others who are equally puzzled.

Chino Masato seemed not to understand the meaning in their eyes, and bowed his head in silence.

At the first place on the list, it is Dazhaohe Paper!

That afternoon, Sosuke Kitahara left the mansion, leaving behind Ran Kitano who was sleeping soundly, and Sachiko Uraike who was selflessly composing in the underground music room, and drove back to the Kyoto branch alone.

A few days ago, he went to the Department of Trade and Industry and the Department of General Affairs. The Kyoto City banned Beiyuan Service and Beiyuan Entertainment from opening branches in Kyoto for various reasons. There was a faint shadow of the Chino family behind him. Cangsuke said that he would start two industries that he was not optimistic about within half a year, so he tried his best to stop it and see how Kitahara Cangsuke turned around.

Back at the Kyoto branch, the staff of the sales department on the first floor bowed in unison. They still respect the vice president who has brought them great results.

After saying hello, Sosuke Kitahara went upstairs when he ran into the smiling head of the financing department Takashi Sato and Masa Nozawa, the president of Yamaichi Securities, who came out of his office.

The latter had communicated with Kitahara Sosuke at Uchida Hiroshi's banquet, and at this time he came over with a smile on his face and said hello.

His son Nagano Nobusuli is engaged to Uchida Hiroshi’s daughter Uchida Shizuko. Although the Uchida family has plummeted because of Nissho Iwai’s major mistakes in the Juliana Tokyo project, the Sanwa Foundation still supports the Uchida family. Belonging to them, the Uchida family is still one of the few wealthy families in Japan.

Marrying such a wealthy young lady is definitely not a loss.

"Cangsuke, oh no, President Kitahara, long time no see." Naganozawa came up and patted him on the shoulder, and said earnestly, "I heard that you are having trouble with President Tao Taro recently?"

"Huh? There's no such thing. Did Uncle Nagano hear it wrong?" Kitahara Sosuke responded with a smile.

"Ah, Sato-san said that you publicly stated at the meeting that you don't want to give us a loan? Cangsuke, I know that you are new here, and you want to establish your prestige in Kyoto. It's not that Uncle Nagano said you, your way of doing this is wrong, you will only give yourself Invite more enemies."

Naganozawa sighed, his tone was very sincere, as if he was thinking about Kitahara Sosuke,

"Even if you want to compete with President Tao Taro, you can't mess around with this matter. Oh, Sosuke, you probably don't know that Yamaichi Securities has been selected for the financial support list of the Congress in 1991, starting this month , we will be able to obtain massive resources and preferential benefits from the government, and of course, Shanyi Securities will work hard to set an example and live up to the prestige of First Securities.”

Congressional financial support list?

Kitahara Sosuke had heard about similar things from Hashimoto Shota. This was a major financial policy adjustment jointly submitted by the Ministry of Finance and the Bank of Japan, approved by the Prime Minister’s cabinet, and actually drafted by Masato Chino.

To put it bluntly, it is to use huge resources to support some promising large clubs and let them grow into heads, so as to drive economic development.

From the point of view of purpose and means, there is no problem. In this era, Kitahara Sosuke even thinks that this move is very subtle and has a certain effect.

But the problem probably lies in that list.

Even clubs like Shanyi Securities were on the list, so he didn't bother to wait for the specific list to be announced.

"Ah, then congratulations to Uncle Nagano, oh yes, I am against the loan, not because I am fighting for power with the president, but simply because of my feeling."

"Your company, Yamaichi Securities is too rubbish, it will go bankrupt, ah, sorry, my words are a bit fierce, I hope Uncle Nagano doesn't mind, after all, he is a young man who has just arrived and just wants to establish his prestige in Kyoto, and he doesn't know how to adapt. .”

(End of this chapter)