Perfection of Rebirth

Chapter 872
The sky in foreign countries is bluer.

Of course, this is also an advantage that people have accumulated after dozens of years of development. Thinking back to big cities like London, the air quality was also a mess.

Pollution first, governance later is not unique to China, but is almost a universal rule in the world.

Only development is the last word!

Jiang Hui and his party stayed at the Hilton Hotel in Tokyo's Chuo District, which is next to Tokyo Bay. The presidential suite is located on the 34th floor of the hotel. When you walk to the balcony, you can see the beautiful scenery of Tokyo Bay.

"Mr. Jiang, tomorrow we will meet with the staff of Goldman Sachs Island Branch first, and then we will go to discuss with Daiwa Securities and Sumitomo Mitsui Bank. Judging from the current situation, the manufacturers interested in Sanyo are not only Guanghui Group, we It may take a quick fix to avoid complications."

Responsible for promoting Jiang Hui's itinerary in the island country is the president of NICO, Takeshi Kimura, a Tochigi native of the island country who graduated from the University of Tokyo with a bachelor's degree in computer science and technology, and later studied in the United States and obtained a Ph.D. in computer science from Stanford University.

Since Jiang Hui split the video business of Guanghui Group into three major modules: Tudou, NICO, and POTATO, he has changed the registration locations and management personnel of each company, basically taking the road of localization.

In China’s Tudou.com, all management personnel are from China, while in NICO, an island country, although there are some expatriates from the group, most of them are local people from the island country; similarly, the management personnel of POTATO are basically Americans.

The Internet is an industry that has very high requirements for timeliness and is very sensitive to policies. It is difficult for a foreigner to manage an Internet company well.

The major Internet companies in the later Chinese dynasties are basically local Chinese companies, and those with pure foreign capital cannot survive.

Of course, the so-called local companies also need to be quoted. Because of the financing problem in the early stage, basically the shareholders of well-known Chinese Internet companies have many foreign venture capital investors, so it is actually difficult to distinguish whether this is a foreign-funded company. Or a local business.

"Timber, in the eyes of islanders, what kind of company is Sanyo?"

Jiang Hui looked at Dongjiang Bay in the distance, and asked about the wood next to him.

"How to put it, Sanyo used to be a family store brand with the same reputation as Panasonic and Sony. Basically, all islanders have more or less Sanyo products in their homes. But in recent years, the development of Sanyo has stagnated. The sense of presence is getting lower and lower." Kimura began to say after some consideration.

"Reviewing the history of Sanyo for more than 60 years, Sanyo, which used to be the pioneering force of the island country to open up overseas markets, is now in decline. The glory of Sanyo was once dazzling. The island industry once specially invented the term '3S' to represent the Sanyo, Sharp and Sony, which stood out in the recession, all have names beginning with S.

"In 2001, Sanyo's profit exceeded 500 billion yen, and it was the most profitable among the island country's home appliance companies. At that time, Sanyo's stock price also far exceeded that of Panasonic, Toshiba and other island country counterparts, and the scenery was unlimited. But like many Like Tianchao Enterprises, Sanyo’s crisis started from the peak of success.”

"But after the brilliant 2001, from 2002 to 2004, Sanyo's profit has not reached 2% of sales revenue. As one of the world's largest digital camera manufacturers, Sanyo once occupied 30% of the world's OEM market But profits at Sanyo's digital camera division fell 3 percent during that time. At the same time, a wave of price cuts for cellphones has put its handset business in a slump. By the end of 2004, Sanyo's consumer goods division, from DVD players to washing machines, had net income fell by as much as 20%.

"In January 2005, Sanyo announced its financial report for the fourth quarter of 1, with a record loss of US$2004 million. The main reason for this loss was said to be the downturn in the digital camera market and the shutdown of chip factories. In July 4, Sanyo announced the closure of the chip and LCD production plants in Tianchao. In November 1.735, Sanyo announced its financial report for the first half of 2005, with a net loss of US$7 billion. The downturn continues."

"In December 2006, NTT announced the recall of Sanyo batteries equipped with some models of mobile phones, with a total of 12 million pieces. This battery recall has dealt a heavy blow to Sanyo's brand reputation. After the business deteriorated, this time the brand reputation deteriorated, and finally the Sanyo has pushed into a situation where there is no redemption. For consumers in island countries, Sanyo's brand has become less and less trustworthy." Kimura said with emotion.

Watching him build a tall building, watching him entertain guests, watching the building collapse...

As an islander, Kimura's mood is also complicated.From childhood to adulthood, Kimura has used Sanyo radios, Sanyo refrigerators and washing machines, and even Sanyo cameras for a short time.

But now, the image of Sanyo as a giant in the eyes of islanders has collapsed.

"For our group, it may be a good thing that the Sanyo brand is not trustworthy, so that its major shareholders will be willing to get rid of this burden."

"Having said that, but I heard that Panasonic has been interested in acquiring Sanyo, we still have to be careful not to be preempted by others."

"For Panasonic, the most valuable part of Sanyo is the battery business, and Sanyo's home appliance business competes with Panasonic's products. Even if Panasonic acquires Sanyo, it will use Sanyo's original home appliance business as an excuse to sort out duplicate businesses. Selling one by one, I believe this is definitely not the result that Sanyo's management wants to see."

"That's true. Except for a few areas, Sanyo's technology is really inferior to Panasonic. But considering the special relationship between Sanyo and Panasonic, it is difficult to say whether the people on Sanyo's board of directors will vote with their feet." As a As an islander, Kimura still knows the way of the islander very well.

In fact, not only in China, but also in island countries and even in the whole of East Asia, business is not just a simple business, it is mixed with various influencing factors.

In particular, the relationship between founders like Panasonic and Sanyo is very close and special, and it is basically destined that the businesses of the two companies will intersect sooner or later.

"Right now, all companies are being shaken by the intensifying subprime mortgage crisis, and they are becoming more and more cautious about various investments and acquisitions. This is a good opportunity for our group, and many companies that cannot find a suitable seller Enterprises, originally Guanghui Group had no hope of getting involved, now they can give it a try. Sanyo is just the beginning, and it will definitely not be an accidental phenomenon. In the future, we will have more opportunities to acquire some traditional subdivided giants .” Jiang Hui said.

(End of this chapter)