Answered produced feed
D 4 · C 4 · P 4 · Cm 4 4.00
Q So Shibata-san, when you had that approach back then, I guess the key question is, why are you guys still standing when the others have gone away?
A Well, the due diligence is assess the management. See if they are willing to co-work with us. You know, based on my experience advising Japanese corporation, a couple of meetings will tell us that whether or not they are willing to co-work with us. Once we identify the manager, before investing, we'll start working, giving free advice, and I'm trying to be on their side, not the other side of a table and banging a table. That's not our way. We are always trying to be their advisor for free. You don't have IR department? Ok, I will talk to the president and encourage him to have IR department. Well, if you don't know how to do the IR, then we will tell you the analysis meetings to how to Invite people and how to set up the, uh, conference and so on. So that we try to be on that side and giving free advice and try to be a team. So naturally they will come to us that we face this problem. Our job is improve their governance, their financial aspect. And By giving this advice, we come to realize why they're under a barrier. If they are listed on the TSE second section, we encourage them to go to TSE first section. Or they don't see any merit of being listed. Why you are listed? My grandfather was recommended by Nomura in order to prove you are successful business man, you need to list. That's the reason. We don't have any merit. We are paying Five million US dollars in order to main…
AI assessment note: “I'm trying to be on their side, not the other side of a table”
Answered produced feed
D 4 · C 4 · P 4 · Cm 3 3.85
Q Shibata-san, let me ask, in the eighties, when Japan was in this very bold time, there was a very consistent notion of lifetime employment. And I'm curious, after 18 years at Nomura, how contrarian was it for you to leave to join an investment fund?
A Well, the things I was Shocked at Harvard Law School to learn in that, well, the company belong to shareholder. That's what I was told at Harvard Law School. But when I went back to Japan, company belong to employees. I work for Nomura, and joining a company means joining a society, community. You will belong there forever. So you will have a party within the department or among the company or exercise, baseball game, and so on. So you are closely tied up. It's community and management. They are not coming from outside. They are one of us. So that's from management viewpoint, employee is My friend, my colleagues, my junior. So it's pretty tough for, for example, Japanese management that you will get golden parachute, and we'll buy your company and fire everybody. That's not acceptable to most of Japanese, because they are my friend. I will be ashamed in the community. So buying a Japanese company is not that easy because of that concept. If you're a corporate trader, especially to employee or management, people will oppose you. Shareholder is lowest ranked in Japan. I should say past tense, not current tense. Shareholder was the lowest ranked. Employee, client, So the total stakeholder, shareholder is the bottom. That has been a long time concept, or Japanese community. Getting out of a community and going to be rich, you'll be kicked out. So that's, well, once I left Nomura, p…
AI assessment note: “Getting out of a community and going to be rich, you'll be kicked out.”
