Still, I Will Live As The Son-In-Law Of A Conglomerate [EN]: Chapter 54

54. 17th. Tokyo Air Raid (3)

“Let’s go.”

Hoping to see a familiar face, I went with a staff member to greet the guest who had arrived at the office.

At the door, I saw a middle-aged Asian man with a briefcase, surveying the office.

Hairline receding towards his crown.

Slender eyes that gleamed sharply.

Deep nasolabial folds [lines from the nose to the mouth].

Smiling, I extended my hand.

“Nice to meet you. What brings you here?”

“I’d like to speak with the CEO, so please show me the way.”

“I’ll take you to the reception room. Please follow me.”

The staff member looked surprised. Claire is the CEO, but I, as the owner, am the de facto [in reality] head.

Winking at the staff member, I led the Asian man to the reception room and called Claire, Seon Hae-cheol, and Park Tae-jin to the conference room.

“What’s going on? I heard a guest just arrived?”

“He said Jerry Yang [co-founder of Yahoo!] introduced him, Uncle. It seems he wants to invest in Yahoo?”

Even saying this with a straight face, I couldn’t help but smile, causing Seon Hae-cheol to tilt his head.

“What’s so funny? Is it because money is pouring in and you can’t control yourself? Hehe.”

“Yes. There’s no reason to accept investment no matter how much that guy offers, hehe.”

If it were before turning Tokyo into a sea of fire, maybe, but now that we’ve started after turning Tokyo into a sea of fire, there’s nothing to be desired. This war will be over with our victory by April.

Seon Hae-cheol chuckled as he looked at me giggling.

“Whoever he is, he must be disappointed. If he had come just a month earlier, he would have struck gold.”

“Indeed, Seon. We’re already ready to sit on a pile of money, hoho.”

Claire also sneered. It seemed she had nothing to envy since we were sure to sit on a mountain of money.

“Still, he came all the way here, so let’s meet him, Young Master. We need to manage our reputation if we want to grow in the future, haha.”

“I suppose so?”

Although for different reasons than Park Tae-jin, we all entered the reception room.

“Sorry to keep you waiting. I’m Claire Lawrence, CEO of Standard Capital.”

The Asian man, who had risen from the sofa, shook Claire’s outstretched hand.

“Nice to meet you. I’m Masayoshi Son from SoftBank.”

***

Masayoshi Son was sitting on the sofa, drinking tea, and looking at me with particularly curious eyes. Was it because a young Asian man, who looked barely in his twenties, was in a meeting with the head of a Wall Street investment firm?

Seeing his gaze directed at me, Claire said,

“If you’re uncomfortable, I can have him leave, Mr. Son.”

“No, Ms. Lawrence. Isn’t America a meritocracy [system where advancement is based on ability]? I studied at Berkeley, so I know, haha.”

Masayoshi Son smiled gently and waved his hand, then changed his expression and opened his mouth.

“Let’s get straight to the point. SoftBank also wants to invest in Yahoo, which Standard has invested in.”

To propose an investment right away in the first meeting after a simple introduction… typical of Masayoshi Son.

Claire nodded slightly and opened her mouth.

“Mr. Son, I’m sorry, but we don’t want any more investors in Yahoo. We’re predicting profits starting this year, so we don’t plan to accept additional investment until the IPO [Initial Public Offering].”

An eye for an eye, a tooth for a tooth? Claire threw the same fastball back at Masayoshi Son.

Although rejected outright, Masayoshi Son didn’t bat an eye. Instead, he smiled and continued,

“Ms. Lawrence, the internet is ultimately a land grab. Isn’t the internet about setting up billboards and doing business on that land? If we at SoftBank provide additional funds to Yahoo, everyone will be happy because the ammunition needed for the land grab will increase, wouldn’t it?”

Watching their conversation, I pursed my lips. Didn’t he accurately understand the essence of the internet business? Except for the fact that he doesn’t know we’re about to make money that would make SoftBank look insignificant.

Well, judging from that man’s past actions, such words were to be expected. He tried to win the land grab battle by creating a money source called Vision Fund, didn’t he? In the end, it leaked everywhere, and he began to abandon his vision with a single pandemic.

Anyway, I had no intention of handing over Yahoo to him easily, so I stepped in to object.

“Isn’t it too early, Mr. Son? Considering the current PC penetration rate, internet network construction rate, and line speed in the United States and around the world… it’s reckless, huhu.”

Even though I, much younger than him, was being sharp, Masayoshi Son didn’t lose his composure and said,

“The United States is currently investing heavily in IT infrastructure under the Clinton administration. Isn’t the future guaranteed? If you accept us as a member of Yahoo, SoftBank will provide support from the side.”

His words were probably not a lie. Only after acquiring or investing in companies that could support Yahoo did SoftBank invest in Yahoo, only the order changed because of me.

Nodding, I once again raised an objection.

“If we list Yahoo on the stock market, we can raise more funds while minimizing the dilution of our stake. I don’t know how much you’re going to invest, though. Isn’t that right, Boss?”

“That’s right. Mr. Son, the ball is now in your court. How much will you invest?”

Masayoshi Son let out a groan at Claire’s question. How long had it been? His groan stopped.

“Assuming Yahoo’s current value is $1.2 billion… I’ll invest $300 million through a rights offering [offering existing shareholders the right to buy additional shares].”

If the investment goes through as Masayoshi Son calculated, SoftBank’s stake in Yahoo would be 20 percent. Our stake in Yahoo would fall to 28 percent.

To bring our stake back to 35 percent, we would have to invest an additional $170 million. Considering it as the cost of wearing a bulletproof vest for the future that only I know, it’s not a good deal at all.

Claire also looked at Masayoshi Son with narrowed eyes, wearing a displeased expression.

“It would be more profitable for us to put in another $300 million, Mr. Son. Don’t you know the rumors about us on Wall Street?”

“I know, Ms. Lawrence. My condition isn’t just that. If you agree to the investment, I’d like to attract $500 million in Standard funds to SoftBank through a rights offering.”

A burst of laughter erupted at Masayoshi Son’s counterproposal. Was he trying to take Yahoo’s stake with our funds? Seon Hae-cheol scoffed.

“Are you trying to play with us right now? What’s left for us…!”

As Seon Hae-cheol’s face hardened, Masayoshi Son cut him off.

“SoftBank’s current market capitalization is 300 billion yen. If you invest $500 million, I’ll guarantee you 20 percent based on the post-increase standard. How about it?”

Hearing those words, Seon Hae-cheol blinked. Claire, Park Tae-jin, and I also wondered if we had misheard. Even if we increased capital reflecting the current stock price, he would give us nearly 6 percent more shares?

Making eye contact with Claire, I stepped forward myself. I needed to confirm what he was up to.

“It would be illegal to increase capital at such a low price, wouldn’t it?”

“Of course. The rights offering will go at the current stock price. I’ll transfer my shares to cover the 20 percent shortfall based on the post-increase standard. Consider it a down payment, haha.”

It was insane audacity and determination. He was willing to invest in Yahoo by receiving our investment, even at the expense of diluting his own stake… Everyone, even I, stared at Masayoshi Son as if he were crazy, but he was full of composure.

“Please wait a moment, Mr. Son.”

Following Claire, we left the reception room and entered the conference room. Seon Hae-cheol opened his mouth with a horrified expression.

“Is that bastard crazy?”

“It’s scary, Seon. There’s never been a guy who makes deals like that on Wall Street.”

Claire also trembled. Isn’t stock the lifeline of the owner? After diluting his own stake through a rights offering, he would transfer 6 percent of his own shares. No crazy person could surpass Masayoshi Son.

“It seems we’ve become the weaker party instead. Even considering the money we’d use to defend our 35 percent stake in Yahoo… haha.”

Seeing even Park Tae-jin awkwardly laughing, I roughly got the picture.

Masayoshi Son had gotten one over on us. Was he truly a man of the times?

I thought he was just a simple money waster, but it seemed he had his own beliefs. No wonder some economic YouTuber expressed his management style with the words ‘Take me, bbuuuu-‘ [onomatopoeia for a pleading sound]?

Then I’ll show you too. Like someone who has inexplicably returned to the past.

“Let’s only take 15 percent.”

“Johnny?”

Claire was taken aback, but I raised my hand and shook it.

“I think we should pay attention to that man. Even though he’s Japanese, he’s more aggressive than Wall Street.”

“That’s true. Every time I deal with Japanese people, they’re too cautious, which is frustrating, but he’s like seeing Seon or Johnny.”

It couldn’t be helped.

Wasn’t he a Korean-Japanese who had grown up hearing ‘You’re a genius’ from his father since he was young? He had shown his own sense even in this place, so Masayoshi Son was a different breed from ordinary Japanese people.

“Let’s keep an eye on him in the future. When we sign the contract, have him hand over the voting rights and the right of first refusal.”

I was curious to see how Masayoshi Son would react when he saw the contract.

It was an apology for taking Yahoo first and an apology for the rudeness of sending a video of his ancestors’ graves being cleared in a Korean local government in my previous life to get some investment… Should we just manage it from our family from now on?

###

A little later.

Holding the contract in his hand, Masayoshi Son looked back and forth between Claire and the contract.

“Are you serious, Ms. Lawrence?”

“Of course, Mr. Son. That friend over there said you seem a bit special,” Claire said, pointing at me with her hand. Masayoshi Son rubbed his eyes and looked at me.

“Are you perhaps of Korean descent?”

“Yes, Mr. Son. I have circumstances that make me work here, but Yahoo is my creation. Isn’t that right, Claire?”

“Of course. That’s your first work, isn’t it? Hehe.”

Unlike us, who were exchanging pleasantries, Masayoshi Son’s mouth hung open. How could he believe that a young man had caught such a big fish as Yahoo? I smiled at him.

“There’s no need to be surprised. Instead, I hope you faithfully fulfill the promises you made in this room.”

“Thank you. I will be a faithful partner of Yahoo and Standard in the future. Don’t worry about promises, haha.”

After completing the investment contract with a relieved heart as if he had paid off his debts, we saw Masayoshi Son off and returned to the office to contact Go Seung-ju. He said that the Haedong Group and the remaining three groups were fiercely pushing to make the Bank of Japan raise the white flag, so all that was left was to wait for time to pass.

***

After the Great Hanshin Earthquake [earthquake in Japan in 1995], all companies and financial institutions bought the yen. The value of the yen rose day by day, renewing the exchange rate, and finally soared to 80.15 yen per dollar.

In the end, the Japanese government and the Bank of Japan raised the white flag. As their last line of defense of 80 yen per dollar was about to collapse, they announced that they would release their foreign exchange reserves to buy the yen.

That decision happened on March 31, 1995, ten days faster than I knew, but there were no mistakes because I timed it while watching the rate of the exchange rate decline.

Having liquidated all yen-buying bets in mid-April, I was sitting in the Standard Capital conference room.

“This is a dream….”

“I can’t believe it, Hyung [term for older brother or male friend in Korean].”

The faces of Seon Hae-cheol and Park Tae-jin, who were sitting at the conference table with me, looked like their souls had left their bodies.

The total amount of money earned from this yen-buying bet was $3.8 billion. Including the $1.1 billion in profits from the Mexican currency speculation that I had used as seed money, the money earned in the last winter season alone was $4.9 billion.

“It’s all over, what are you all doing? If you have time for that, think about spending money, hoho.”

Unlike the dazed two, Claire was beaming.

In front of her, sitting at the table, was a catalog sent by Macy’s department store, spread wide open on both sides. Judging by the check marks, she was in the mood to rent out the entire department store and go shopping.

“Still, what is that? Is it a car dealer’s branch office? Is it a department store consultation room?”

“When else would we do this, Uncle? We agreed to do it just this once. The settlement is over, so we should enjoy it.”

Beyond the glass wall, the outside, which Seon Hae-cheol’s finger was pointing at, was like a flea market.

“This is the newly released model, customer. It’s a mid-ship V-shaped 8-cylinder engine, and the horsepower is….”

“Someone like you, customer, should have a shoulder bag to change every day of the week. At our Macy’s….”

The employees were receiving consultations while looking at the car dealers and department store sales representatives who had come smelling money instead of monitoring. The desks of the employees were already filled with gift bags that the sales representatives had pushed on them.

Seeing them persistently visiting like leeches, I wanted to make the employees feel the reward of earning money. How unfair would it be if you worked your butt off to earn money but couldn’t use it yourself?

“I do, but I don’t like doing that at work. A workplace should be like a workplace.”

Seon Hae-cheol still seemed dissatisfied, even though he had reluctantly agreed to my request. I didn’t know that the usually flexible man would be so thorough when it came to work.

“Then… aren’t you going to use your dividends, Uncle?”

Seon Hae-cheol’s face lit up at the question thrown half-jokingly.

“I said I don’t like doing that at work, but I didn’t say I wouldn’t use it? I’ll leave half of it to Standard and choose slowly, hehe.”

Seeing him smiling, I laughed. The dividends, excluding the performance bonus to be distributed this time and my share, would be at least $200 million, so he could buy anything he wanted with his $25 million.

Smiling at Seon Hae-cheol, I turned my head towards Park Tae-jin.

“What are you going to do, Hyung?”

“Well… I think I’ll leave it all to Standard, haha.”

Park Tae-jin, who had been laughing heartily, stopped laughing and asked me.

“What are you going to do, Young Master?”

“I want to buy Triumph shares with the Henry funds that came to us… and invest in Qualcomm, Cisco, Oracle, and America Online with our funds. The place that makes the coffee we drink is also good, huhu [referring to Starbucks].”

I had used enough luxury goods in my previous life. If I had money to buy such things, it would be more profitable to buy even one more share of the stock that was scattered on the stock market. There was no special sale season like now for me, who was overflowing with cash.

Still, I wanted to look a little lighter, so I shook the Starbucks paper cup, but Seon Hae-cheol frowned.

“This bastard… you’re sick, you idiot. I can’t leave you like this. Claire, Tae-jin.”

Seon Hae-cheol, who had called the two, said something shocking.

“Let’s go to the department store right away. We’re going to rent it out and go shopping today. I need to educate this guy.”

“Educate me?”

“There will be plenty of times to see rich potbellies in the future, so you need to dress up expensively to intimidate those guys, too? The Chairman also enjoys it when he enjoys it, but what about you… Get up quickly! Hehe.”

Seon Hae-cheol got up from his seat and grabbed my wrist. Seeing Park Tae-jin and Claire also getting up with smiles, it seemed like I would have to spend the day at the department store.