Soviet Godfather

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In the absence of any other reasonable explanation, the Japanese financial media had no choice but to treat the Muddy Waters report as the only legal explanation. However, this report seems to be a big fuss in the eyes of most investors. How many properties and projects Seibu Group has in Japan and the world, and a ski resort in Switzerland is not a big deal. After all, Seibu Group probably did not intentionally do this What he did was just accidentally put on his ski resorts.

But in the end it was financial fraud. The Tokyo Stock Exchange issued a warning to the Seibu Group. Seibu Group claimed that it was due to negligence of financial personnel and mistakenly counted a ski resort in Austria as Switzerland. And corrected his financial report in time. Not long after this statement was issued, early the next morning, investors who lost money yesterday prayed that the Seibu stocks could rebound immediately today. Let them redeem yesterday's loss.

In the expectation of all investors, from the beginning of the call auction, the stocks and bonds of the Seibu family were resolutely blocked on the down limit. Many investors who wanted to make money yesterday lost 10% of their principal. What’s more, even if they wanted to run, they couldn’t run away because they were waiting for others to take over. Stock.

The Seibu-based stock-bond double-kill was once again staged on the Tokyo Stock Exchange, which was definitely a major blow to investors. If the stock and debt double killing on the first day was due to the omission of the Seibu Group's financial report, then what was the second stock and debt double killing?

The two consecutive days of decline made the Seibu Group feel very helpless. They did not encounter any operational difficulties during this period, but the group's stocks and bonds have fallen by 20% of the market value. In just two days, Tsui Yoshiaki's net worth has shrunk by more than 25 billion US dollars. But he didn't even know why.

During the lunch break, investors of the Seibu department received the latest news about the Seibu Group. Tsui Yoshiaki announced that he would spend 100 billion yen to increase his stake in Seibu Group out of optimism about the future development of the Seibu Group. This news quickly brought confidence to the market. As soon as the market opened in the afternoon, the Seibu stocks began a counterattack across the county and soon returned to the price level at the close yesterday. Many investors saw Seibu's strong rebound and followed suit without hesitation. Just when the Seibu bulls were about to take advantage of the victory, the invisible demon in the market made another move. In just five minutes, the Seibu counterattack was once again severely suppressed, and both the stock market and the foreign exchange market were smashed. Sealed on the drop limit. Seeing the huge horrible cover sheet in the stock market, it is as high as 1.5 trillion yen, that is, unless someone can spend 10 billion U.S. dollars to eat this cover sheet. This kind of financial resources makes people feel extremely desperate. Who on earth is so optimistic about the Seibu Group and wants to kill him?

All investors urgently need an explanation, an explanation that they can accept. However, apart from yesterday's news about Swiss ski resorts, there was no bad news about the Seibu Group. This makes investors unable to figure out why they lose money anyway.

It is time for the entire Japanese financial community to make a legal explanation for the Seibu Group’s share price attack. The Muddy Waters Research Company in Switzerland has sent the latest research report to the Yomiuri Shimbun. This report is based on the public information of the Seibu Group. In this report, the Muddy Waters pointed out that the Seibu Group’s The overall debt ratio has surpassed all the assets it owns. To put it plainly, it is insolvent. This is not a new discovery. As early as a few years ago, local Japanese research institutes published similar reports. However, commercial real estate developers are inherently a highly indebted industry. Real estate development involves construction, design, building materials and other related matters. industry. Developers usually borrow funds from banks to purchase land, and then mortgage the land to the bank to obtain more capital and then purchase the land. The whole process is like snowballing. In the construction of real estate projects, building contractors, building materials suppliers, and even architectural designer firms must advance funds for the projects they undertake. It is precisely because of this that although the real estate industry in Japan is now in full swing, the construction contractors, design companies, building materials suppliers and other related service organizations that are really responsible for the construction have not made the most profitable profits. Most of the money goes into the hands of real estate developers. It can be said that using other people's money to make money is an open secret of the real estate developer industry. Therefore, the debt ratio of developers is generally above 70%.

Given the status of Seibu Group in Japan, if they develop a project, the cost will only be lower. The bank will give it the most favorable credit because of the size of Seibu Group. Even if there is no collateral, a piece of Tsui Yoshiaki’s A business card can lend hundreds of millions of yen in loans from Japanese banking institutions. And those construction contractors and building materials suppliers are lining up to hope to cooperate with the Seibu Group, and as the Seibu Group, it is natural to choose companies that can provide more advance funding for the project. For this reason, although the Seibu Group’s projects are all over Japan, they don’t use much of their own funds in Japan. Because of the appreciation of the yen, these funds were exchanged by Seibu Group for U.S. dollars to invest in overseas projects. Go to ~www.readwn.com~ Although this is the truth, no one will care about Seibu Group’s debt problem when the Japanese real estate industry continues to grow upwards and there is no turning point in sight. Because everyone believes that land prices in Japan will continue to rise.

Sergei knew that he could not directly confront the huge foreign exchange reserves of the Japanese government, but it was more than enough to deal with the Seibu Group, Japan's largest real estate developer. All this is part of Sergei Sha’s plan. Including Lebedev's Muddy Waters Company, which means fishing in troubled waters. Sergey Shah is trying to defeat the myth of the invincibility of the Seibu Group, thus triggering a debt crisis in the entire Japanese financial market.

The two consecutive days of double killings of stocks and debts have made Tsutsumi understand that there is someone behind him. He dare not suspend trading, because once the trading is suspended, investors think that something is wrong with Seibu Group. The only way facing Tsutsumi Yoshiaki now is to face the provocations of opponents head-on in the stock and bond markets of the Tokyo Stock Exchange, and use his strong financial resources to raise the stock price of the Seibu Group.

Tsui Yoshiaki has pledged 10% of his shares to the bank to raise more funds to repurchase his own stock. The money is close to 10 billion U.S. dollars, or 1.5 trillion U.S. dollars. , This time Tsuyoshi Yoshiaki had to spare his wealth and also had to face off against his opponent. ()