Chapter 958 Strategic Investment
With the successful acquisition of Kowloon Bus and Zhonghua Automobile, and Liu Sanquan also gave proper treatment to the dead and injured, the Jiuding Newspaper industry no longer contributed to the flames, and the public opinion about Kowloon Bus quickly dropped.
People are good at forgetting the past!
I believe that with the passage of time, this matter will gradually be sealed in history and turned into a speck of dust.
Unless there is another accident, and it is picked up and exposed by someone with a heart, can people's memory be awakened.
...
"Tuk Tuk Tuk!"
"Come in!"
Hearing the knock on the door, Xia Yu didn't lift his head to say a word, and continued to sign the documents. When he felt someone approaching, Xia Yu raised his head and found that it was Huo Jianning.
Xia Yu smiled and motioned Huo Jianning to sit down: "Jianning, sit down!"
"Thank you, Chairman!"
"Chairman, this is the information you arranged for me to collect about the Pioneer Electronics Company in the island country. There are 28 pages in total, please take a look!"
Huo Jianning said, and presented a document in his hand to Xia Yu. After Xia Yu took it, he sat down properly.
Xia Yu weighed the documents and said with a smile: "It seems that there is a lot of information, you have put in a lot of effort."
"You go to other things first. I should finish reading it in half an hour. Come back."
Huo Jianning was stunned for a moment, then got up and bowed slightly and said, "Okay, then Chairman, I'll go down first."
"Um!"
Xia Yu ignored Huo Jianning, lowered his head and flipped through the information, and browsed quickly, only stopping for a while when he encountered key information.
More and more information about Pioneer Electronics Co. of the island country entered his mind.
Island Pioneer Electronics was established in 1938,
The founder, Nozomi Matsumoto, started out by developing the A-8 moving coil loudspeaker. The company was formerly known as the Gospel Chamber of Commerce Electric Manufacturing Company, and it was not until 1961 that it was changed to its current name.
Pioneer Electronics' products have four prominent stages.
The first stage was to launch the world's first component stereo system in 1962, which sold well in the world. Because of this product, Pioneer Electronics also established sales companies in Europe and the United States in the next few years, allowing Pioneer Electronics to sell. To the world, from an island company to a multinational company.
Pioneer Electronics has been listed on the Tokyo Stock Exchange, the Osaka Stock Exchange and the Amsterdam Stock Exchange in the Netherlands.
The second stage was in 1975, when the first component-type car audio was launched again, which was welcomed by the market again, with great sales and outstanding performance. In order to further develop the American market, Pioneer Electronics Co., Ltd. was listed on the New York Stock Exchange in December 1976. listed.
In this way, Pioneer Electronics has properly become a well-known and well-established multinational company.
The third stage was in 1977. Pioneer Electronics broke through the business scope of the audio field and launched the world's first two-way addressable cable TV system in the United States. With the help of the cooperation with Warner Bros., it entered the American cable TV industry market. .
The fourth stage was in 1979 and 1980. After acquiring most of the copyrights of Philips' LD laser video disk system, the industrial LD player and the home LD player VP-1000 were successively launched.
In addition to these more iconic products, Pioneer Electronics also has other products and businesses, which are relatively less prominent than the above-mentioned products, but there are also many bright spots.
In general, Pioneer Electronics is an outstanding electronics company, and even a top-notch company in the world of audio.
Xia Yu vaguely remembered that when he visited the Rolls-Royce Motor Group in the UK, he heard that the Bentley Motor Company purchased the Pioneer car audio...
According to data, Pioneer Electronics is listed on multiple exchanges, and the one with the highest market value is the Tokyo Stock Exchange, with a current market value of 180.4 billion yen.
According to the current exchange rate of USD/JPY, the market value is about 820 million US dollars after converting to US dollars.
As for the shareholding structure of Pioneer Electronics Company in the island country that Xia Yu is concerned about, it has the characteristics of the island country from the early days after World War II to the present, with highly dispersed individual shareholding and a mutually stable shareholding structure between relatively concentrated financial institutions and industrial legal persons.
Remember that after the 1990s, a series of reform measures by the island governments to relax the rules will bring about the second shareholding structure change of the disintegration of mutual shareholding and the rise of pure market investment shares.
So for now, Pioneer Electronics Corporation of the island country does not have the so-called first super-largest shareholder.
The largest shareholder is Mitsubishi Electric Corporation, holding 5.9% of the shares.
The second shareholder is the founding family, the Matsumoto family, with a shareholding ratio of 4.7%.
...
Then the top ten shareholders hold a total of 31.7% of the shares!
The top 20 shareholders together hold 43.4% of the shares!
However, Huo Jianning was very attentive in preparing the information, and specially marked the background or related background of the top ten and top 20 shareholders.
Just like the largest shareholder, Mitsubishi Electric Corporation, it is undoubtedly one of the core companies of the Mitsubishi consortium.
Among the top ten shareholders, in addition to Mitsubishi Electric Corporation, the fifth largest shareholder Bank of Tokyo-Mitsubishi holds 3.2 percent of the shares, and the ninth largest shareholder, Mitsubishi Motors, holds 2.2 percent.
Therefore, it is calculated that the Mitsubishi consortium camp controls Pioneer Electronics with a total of 11.3%, accounting for the largest proportion.
Even if this cumulative shareholding ratio does not allow the Mitsubishi Consortium to make a decision on Pioneer Electronics, but considering the partnership with Mitsubishi Motors and other companies under the Mitsubishi Consortium, the Mitsubishi Consortium has influence on Pioneer Electronics. Still big.
Therefore, it can be considered that Pioneer Electronics is a peripheral enterprise of the Mitsubishi Consortium.
It's just that Xia Yu also knows that there are not too many peripheral companies like Pioneer Electronics, and the Mitsubishi Consortium is not too much. If there is anything special, it is that Pioneer Electronics has a relatively high market value and stronger strength!
Unconsciously, half an hour passed, and Huo Jianning came to Xia Yu's office again.
Xia Yu showed admiration, and praised Huo Jianning: "Jianning, you have collected this information in great detail and carefully."
Huo Jianning said humbly: "Thank you for the praise, the chairman, this is what I should do."
Xia Yu nodded with a smile, put the information on the table, and said to Huo Jianning, "I also read the content. Although Pioneer Electronics has scattered shares, it is difficult to acquire."
"What do you think about this situation?"
Huo Jianning had obviously considered this issue, he sorted out his thoughts and said: "Chairman, among the top 20 shareholders of Pioneer Electronics, 14 have deep business relationships, or have funds with banks and insurance companies. Lending relationships, or doing business with Mitsubishi Motors and Mitsubishi Electric Corporation."
"And Pioneer Electronics also has a relationship of mutual shareholding with some of these companies. Although the shareholding ratio is not large, corporate legal persons are shareholders and directors of each other."
"This also shows that these shares are mainly used for cooperative links, not purely investment functions, so acquisitions will be very difficult."
"Even if the equity of these shareholders is really acquired, it will bring hidden dangers to Pioneer Electronics, and the cooperative relationship with other companies will be unstable."
"Also, Pioneer Electronics is listed on the Amsterdam Stock Exchange in the Netherlands and the New York Stock Exchange in the United States, and some institutions in Europe and the United States also hold shares in Pioneer Electronics. These holdings are purely stock investments, but It also makes acquisitions cumbersome.”
"Of course there are disadvantages and advantages. Pioneer Electronics is listed on multiple exchanges, which will also facilitate us to collect funds secretly, and the probability of being discovered is lower."
"If you don't want to wholly acquire Pioneer Electronics, then I suggest buying from the secondary market in the name of multiple companies, increasing your stake unknowingly, and rushing into the top 20 and top 10. Among the shareholders, and then the non-business shareholders among the top 20 shareholders will be acquired."
"Clap clap clap..."
After Huo Jianning finished speaking, Xia Yu's applause followed.
"The idea is very clear and the execution is very high."
Xia Yu said with admiration.
Huo Jianning smiled humbly and said, "It's better that you have cultivated well, Chairman, but I don't know if my ideas can match yours."
Xia Yu said with a smile: "Your thoughts are even mine. I don't want to wholly acquire Pioneer Electronics."
"The main reason is to improve the industrial chain."
"Car stereos like Pioneer Electronics are what car companies need."
"LD players and related patents are what Tiangong Electronics needs in the future."
"Stereo systems and cable TV systems are available as well."
As long as you have a stake in Pioneer Electronics and have an important right to speak, then automobile companies, electronics companies, electrical appliance manufacturing companies, and American media companies have a solid supply chain in terms of product and technology supply, so you don't have to worry about the future These fields are set up by others to extort cards, or other problems arise.
That's what strategic investing is all about!
The six major consortiums in the island country rely on this model to invest in companies all over the world and open up all the industrial chains of various industries. Many possible constraints have disappeared before the bud due to a small amount of shareholding.
Xia Yu's Jiuding Consortium has grown to such a scale that it will inevitably rub shoulders with the world's major consortiums, so this kind of strategic shareholding model is undoubtedly the most suitable. effect.
Seeing that he had guessed the chairman's mind correctly, Huo Jianning became more and more confident. He smiled and asked, "Chairman, what are you going to do? Please tell me!"
Xia Yu pondered for a moment and said to Huo Jianning: "Originally, it would be more appropriate to leave this matter to Wang Qi of Jiuding Securities Company, but since it was handled by you, it will be handled by you. Understanding of the capital market, if a company wants to develop well, it must have a sufficient understanding of the capital market.”
Huo Jianning's eyes flashed with thought, and he nodded solemnly to indicate that he had listened.
Xia Yu continued: "The acquired shares are placed under the banners of Tiangong Electronics, Tiangong Electrical Appliances, Tiangong Machinery Group, Tiangong Automobile Group and Jiuding Securities Company, in order to deepen the influence on the board of directors of Pioneer Electronics, As for the extent to which you can achieve it, it is up to you to decide according to the situation, and you will report to me after you are done.”
"As for funds, I will inject 100 million US dollars into Tiangong Group, and each of its four subsidiaries will share 25 million US dollars. You can find a solution for the shortage of funds."
"In order to facilitate your actions, I will appoint you as the acting chairman of Tiangong Group, and strive to remove the word "agent" as soon as possible."
Huo Jianning was surprised, he took a deep breath to suppress his inner excitement, and nodded his head to assure: "Thank you for the new appointment, Chairman, I will definitely not disappoint you!"
Xia Yu crossed his palms, leaned forward, and asked with a smile, "Do you have any questions?"
Huo Jianning thought about it, shook his head and said, "No more!"
Xia Yu nodded slightly and said, "That's fine, go get busy!"
"Goodbye Chairman!"
After speaking, Huo Jianning bowed slightly and exited the chairman's office.
Seeing Huo Jianning's high fighting spirit after he went out, Xia Yu smiled.
Huo Jianning's performance has always been in his eyes. Whether it is assisting him in handling affairs or running Tiangong Electronics, he has performed very well.
That's why he took this opportunity to relieve Huo Jianning and continue to help him grow.
I believe that it doesn't take many years for Huo Jianning to become a capable man he can trust and trust!