Chapter 1917 Not Happy Anymore

Japan, Tokyo.

In April, the number of 7-Eleven stores in Japan officially exceeded 10,000, becoming the first company in human history to open 10,000 convenience stores.

And this is actually in Japan, a small and densely populated country, which is really unimaginable!

But if you think about it carefully, this is a normal result.

It is precisely because Japan has 150 million people crowded into its more than 300,000 square kilometers of land that there is business wherever convenience stores are opened.

Japan's economy is very developed, and factories are open day and night, resulting in many people working in the morning and evening shifts.

Japan's various highway systems are also very developed, which means that there can be many 7-11s next to each highway for people who work in the morning shift and people who get off work in the evening shift to buy.

It is also very good to drive to 7-11 to buy something and then go home to rest, or on the way to deliver goods, stop in front of a 7-11 store, buy something to eat, rest for a while and then hit the road.

This is true in the wilderness, let alone in the city.

Especially in cities that never sleep like Tokyo and Osaka, convenience stores like 7-11 that can buy things 24 hours a day are most suitable for those who work part-time.

Housewives may not want to come here to buy things, but students, office workers, etc. all like this kind of convenient store.

Although the price is a bit more expensive, after all, you can buy all daily necessities and they are available everywhere, which is very convenient.

Young people don't know what it means to be frugal. As long as it's convenient, the food is delicious, and the things are useful, that's the most popular product for them.

Of course, the most important point is that Japan's current economy is at a high stage of development.

Every company in Japan is making money, everyone's salary is very high, and good jobs are waiting for students after they leave school... Such economic dividends make everyone in Japan full of hope for the future. confidence.

They now dare to spend money and are willing to spend money. Strong welfare measures support them in doing so.

Against this background, various businesses in Japan are easy to do.

7-11 happened to catch up with such a good time, plus Yin Jun gave them the 7-11 success secret in advance, so from about 6,000 stores at the end of 1980, to now in April of 1985, Japan. It is not unusual for 10,000 7-11 stores to be opened overall.

As the controlling shareholder, Ito Yokado, having such an unexpected surprise is really a great case that proves that Japan can produce business miracles.

Ito-Yokado has large department stores that directly cater to housewives and families, as well as 7-11 convenience stores that cater to young people and office workers. They occupy all aspects of large and small. In terms of retail department stores, Ito Yokado deserves to be the number one in Japan.

Even the crazy-expanding Seibu Group cannot compare to Ito-Yokado in terms of pure Seibu Department Store.

But 7-11, including Ito-Yokado, are not so happy either.

To be precise, there was a feeling of anxiety going up and down.

The more successful you are, the more anxious you become.

The reason lies in a gambling agreement signed by the board of directors of Ito-Yokado and Kirin Group in January 1981.

At that time, Xiangjiang Kirin Group's 7-11 assets other than those in Japan and the United States were in the stage of discussing the merger with Japan's 7-11.

Originally, Kirin Group wanted 60% of the shares, but 7-11 secured a more favorable position, allowing Kirin Group to only get 40% of the shares.

But in order to achieve a smooth merger, Ito-Yokado had to agree to a very attractive gambling agreement from Kirin Group.

That is, if 7-11 controlled by Kirin Group does not open 2,000 new stores within three years; and if it does not acquire the assets of 7-11 America within five years, then Kirin Group will sell them to 7-11 at the market price. With 20% of Ito-Yokado's shares, they only have 20% of 7-11's shares left, and they can no longer afford to make waves.

On the other hand, if Kirin Group meets these two conditions on time, they will buy 20% of the shares from Ito-Yokado at the same market price, thus becoming the owners of 60% of the shares, and Ito-Yokado can only hold 40% of 7-11.

After a series of close consultations and estimates by the company, they felt that Kirin Group would be unable to achieve its goals, so they signed the gambling agreement.

After all, when 7-Eleven entered Japan, it started from the initial cautious design and discussions. It took a full 6 years to open 2,000 stores.

Besides Japan, where else has such generous conditions to open so many stores in a short period of time?

Unexpectedly, Kirin Group signed the agreement and went to Thailand. After two years, it opened more than 1,500 stores.

And as of April, 1,800 stores have been opened, and the goal of 2,000 stores is just around the corner.

That's not all.

In February, sources in the United States reported that Kirin Group was entrusting Goldman Sachs to acquire 7-Eleven's American industry.

Although he knew that this was definitely what Yin Jun was going to do, and if he spent enough money, the Southern Company in the United States might agree, but after contacting Thailand's 7-11, which was about to reach 2,000 stores, Ito Yoka People in the restaurant and even 7-11 are a little nervous.

Once the two conditions are fulfilled, their Kirin Group has reason to acquire 20% of 7-11's shares at market price!

If this continues, although 7-Eleven's property rights have been completely clear and can be directly operated around the world, the dominance is not in 7-Eleven's hands.

To be precise, it is not in the hands of Ito-Yokado.

Even Yin Jun had promised in the contract that he would hand over the management rights to Ito-Yokado, allowing them to directly control and operate it.

But the shares are too concentrated in the hands of other shareholders, which always makes people uneasy.

If it is a listed company, that's it. Even if it is 20% of the shares, with the support of the management, it will definitely be able to gain dominance.

Now 7-11 is not listed, and there are only two shareholders. What do you think of Ito-Yokado?

Entering April, they have been meeting to discuss this issue.

As the representative chairman of 7-11 and the general manager of Ito-Yokado, Suzuki Toshifumi naturally participated in these meetings.

Unlike others, Suzuki Toshifumi was horrified and a little excited at the same time.

The things he and Yin Jun agreed upon were not written into the contract, but he knew that Yin Jun would not give up his usual style of life for him.

As long as Yin Jun successfully acquires 60% of 7-11 shares, Toshifumi Suzuki can work for several more decades and retire at the age of 81.

For a professional manager to retire at this age, it can be considered the most glorious retirement!

Not to mention that Yin Jun also promised 2% of 7-11 shares.

As long as the company is not listed, no one will know that these 2% shares are in their hands.

If 7-11 becomes a US$100 billion empire, then how much wealth is a share worth US$2 billion to the entire Suzuki family?

Even if he goes underground, he can still explain to his ancestors.

Therefore, during this frequent meeting, he suddenly heard the news that Kirin Group had announced the successful acquisition of 7-11 US assets, and Bangkok also announced the opening of 2,000 stores. He wanted to roar loudly.

Other Ito-Yokado board members were not as happy as he was.

When Yin Jun's gambling agreement was reached, the group of people fell into deep regret and chagrin.

Suzuki Toshifumi also yelled that Yin Jun had bad intentions and had planned it for a long time. He stood up in public to reflect on it, saying that it was wrong for him to agree to this matter in the first place and he should be punished.

"Sit down. When it comes to responsibility, everyone is responsible." The president of Ito-Yokado waved his hand, "Who would have thought that Yin Jun has developed so fast in the past few years? From a mere owner with billions of dollars in assets, The company has now grown to have assets of more than 40 billion U.S. dollars? With so much money as a backing, it is reasonable that he can achieve these things."

"More than that." Another general manager said, "With all this money, he can easily buy 20% of 7-11 shares. Originally, we thought that the high price would make him hesitate and take a compromise. method..."

This was also a project under consideration at that time. 7-11's assets should skyrocket to around US$6-8 billion in three years. Yin Jun may not be able to spend more than a billion US dollars to buy shares.

Therefore, if such a day comes, Ito-Yokado will discuss with Yin Jun, and the best thing is for both parties to each hold 50% of the shares.

In this way, no one has to be afraid of anyone else. They are all working together as equals, which is the best of both worlds.

What I didn't expect was that Yin Jun's assets now amount to 40 billion U.S. dollars, and they are still growing.

Although it is not as good as Ito-Yokado's assets, it is really easy to buy 20% of 7-11's shares.

"Then what should we do?" Suzuki Toshifumi asked thoughtfully, "We cannot afford the responsibility for this breach of contract!"

"What else can we do? Let's talk about it!" The president of Ito-Yokado held the fax and said, "Yin Jun is not that harsh person. Do you know the acquisition valuation he gave?"

"Eight billion U.S. dollars?" another executive estimated, because this is their estimate of 7-Eleven's overall assets today.

"10 billion U.S. dollars!" said the president, "He spent 500 million U.S. dollars on 7-11 in the United States, 600 million U.S. dollars on 2,000 stores in Thailand, and then subsidized 900 million U.S. dollars in cash to buy 20% of our shares. "

After hearing the price, everyone looked at each other.

Yin Jun's attempt to forcefully buy 7-Eleven's shares seemed a bit domineering and calculating, but his business acumen was also formidable.

It directly increases your valuation by about 25%, which is equivalent to giving up US$400 million in benefits to Ito-Yokado.

400 million U.S. dollars cannot be considered a small sum anywhere!