Extraordinary Genius - Chapter 230 – The Fu Family acted fast
It was not even two days, and Kameda Masao informed Feng Yu some bad news. The other shareholders of Aiwa refused to sell their shares and even the two banks which had agreed to sell the shares changed their minds.
It was said that there was a new buyer involved and this new buyer was related to Aiwa. When Feng Yu found out who the buyer was, he was pissed!
The buyer was Hong Kong’s Fu family.
The last time Feng Yu spoke to Fu Guangzheng, Fu Guangzheng still advise Feng Yu not to buy Aiwa’s shares as Aiwa was heavily in debt. But the Fu Family bought Aiwa’s shares after that. They were not afraid of the debts owed by Aiwa?
Feng Yu immediately called Fu Guangzheng. He wants to know what the Fu family was thinking.
“Brother Fu, when I asked you about Japan’s Aiwa Co. a few days ago, you told me that this company was making losses and even Sony was disappointed with this company. Am I right?”
Fu Guangzheng was thinking in his heart, Feng Yu had found out about this. How did he find out about his so fast? He has ways to get information in Japan?
Fu Guangzheng laughed: “Manager Feng, I did say that. But you should know that the Aiwa’s subsidiary company in Hong Kong is a partnership with my eldest uncle.”
“So, your eldest uncle acquire Aiwa’s shares?”
“It’s my father.” Fu Guangzheng embarrassedly replied.
Damn. I knew this matter got something to do with Fu Guangzheng. Fuck. If it was your uncle who had bought Aiwa’s shares, I might not suspect anything. It’s your father who bought Aiwa’s shares, and you want to tell me that there was nothing wrong with this?
“Brother Fu, we had worked together for quite some time. Our cooperation has been going smoothly. Don’t you think you should give me an explanation for this matter?” Feng Yu said unhappily.
Once Feng Yu bought the shares from those two banks, he would be the controlling shareholder and the authority of a controlling shareholder was different from an ordinary shareholder!
Fu Guangzheng apologized to Feng Yu and gave his explanations.
Aiwa Co. was working with Fu Guangzheng’s eldest uncle, Fu Rongqi and together they set up Hong Kong’s Aiwa subsidiary. The primary purpose was to make use of the Fu family’s distribution channels to market Aiwa’s Walkman in Southeast Asia and to open up China’s market.
But Fu Rongqi had placed most of his focus on the financial market and did not really care about Aiwa Co. He also receives news that Sony wanted to sell Aiwa’s shares and he felt the Walkman market would not do well.
But recently, Fu Guangzheng’s father, Fu Rongjing felt the Chinese market have potential or felt that Feng Yu had good foresight. When he heard that Feng Yu was buying Aiwa’s shares from Sony, he discussed with Fu Rongqi about buying over Hong Kong’s Aiwa subsidiary.
To let Fu Rongqi believe that Fu Rongjing was really interested in Aiwa’s subsidiary, they bought some of Aiwa’s shares. It was only 6% and cost only a few hundred thousand USD. Even if it was a loss, they could also afford it. The most important thing was to work with Feng Yu and build better relationships……
This explanation…… is bullshit! Who the hell would believe it?
Better relationship? Work with me? It was oblivious that you noticed I had never made any losses in my investments and wanted to place your bets on me. If you win, you will make some money, if you lose, you will only lose a few hundred thousand USD. For someone like Fu Rongjing, with net assets of over one billion HKD, it was nothing.
The thing that made Feng Yu speechless the most was they were implying: I, Fu Guangzheng and my father believed in you and this was to show my support.
Damn, who the hell wants your support. If you sell me the Aiwa’s shares, then it would be the best support.
“Brother Fu, I only treated Aiwa as a bet. I had never been to Japan before, and I had only heard of this company. I only felt that it would feel good to take over a Japanese company and if I lose my investments, so be it.”
Feng Yu was lying through his teeth, and he was hoping that the Fu family would sell off the shares they own. Even if it were at a premium, Feng Yu would also buy it. He wants the controlling stake of Aiwa.
Other than the Walkman technologies, Aiwa was good at other electronics technologies. Aiwa’s technologies were leading China by a lot. If Aiwa were not that good, they would not venture into computers in the future. However, that was a failure.
With Feng Yu’s future knowledge, how could Aiwa fail again in this life? Feng Yu knew about the general direction of the market better than anyone else!
“Brother Feng, it is only a few hundred thousand USD, and we can afford it. Look, the both of us had unknowingly invested in the same company. This is fate.”
Fate your head! Feng Yu was cursing in his heart. Did he not make it very clear?
“Brother Fu, you should know that I had bought the Aiwa’s shares from Sony and if I am able to buy the shares from your father, I will have full control of the company. You understand?” Feng Yu made it very clear to Fu Guangzheng. In business, everything can be negotiated. It’s only a matter of offering a price that would satisfy the other party.
You spent a few hundred thousand USD for those Aiwa’s shares, then I will offer you 1 million USD. You will make 40% within a few days. You are still not satisfied?
Fu Guangzheng hesitated for a while and replied: “Brother Feng, these shares were bought by my father and he intends to give it to my elder brother. If I ask for those shares, it will look like I am vying with my brother for the family inheritance. But you don’t need to worry. I promise you that my family will support all your decisions in Aiwa.”
Feng Yu was feeling helpless. It seems that the Fu family would not sell off the shares. The only solution now was to buy the shares from the other shareholders. Feng Yu must acquire the shares before year-end, even if he had to pay double the market rate!
Since Fu Guangzheng had made things so clear, Feng Yu could not do anything either. Feng Yu also does not want to fall out with him over this small number of shares. Furthermore, the Fu family’s distribution channels were essential. As such, Feng Yu decided to let the matter rest.
But Feng Yu never expected that after he spoke with Fu Guangzheng, Fu Rongjing decided to continue to acquire Aiwa’s shares!
It was easy to find out that Feng Yu had used 20% more than the market rate for Aiwa’s shares from Sony and they also found out that someone was contacting Aiwa’s shareholders to buy their shares.
They found out that this person was Kameda Masao and remembered that Feng Yu had asked them about this person. After some analysis, they concluded that this Kamada Masao might be working for Feng Yu, but Feng Yu did not trust him completely.
That was the reason why Fu Rongjing decided to continue to acquire Aiwa shares even at a premium price. Feng Yu could not buy the shares, but that does not mean the Fu family cannot get it. Even with lots of money, it does not mean that you will be able to acquire those shares.
The Fu family starts to get people to spread rumors about Aiwa in Japan. Sony had given up on Aiwa, and this tells a lot about Aiwa. Now the major shareholder is a Chinese, and he wants to relocate Aiwa to China. Those Aiwa Shareholders panicked as their impression of China was a backward and poor place. What future can this company have if it was relocated to such an area?
Fu Rongjin contacted those shareholders again, and those shareholders agreed to sell their Aiwa shares. With 12% more than the market price, Fu Rongjin acquires the remaining shares, except for the shares owned by Heitaro Nakajima. The amount of Aiwa shares in Fu Rongjing’s hands reaches 26%.
Feng Yu was still waiting for Kameda Masao’s news. Kameda Masao had told him that after he bought the Aiwa shares from Sony, the other shareholders were shaken. The Japanese media also reported on Aiwa. He was still trying to persuade those shareholders.
But there was no good news from Kameda Masao. Kameda Masao informed Feng Yu that a mysterious buyer had bought all the shares from the shareholders. Feng Yu was furious.
Feng Yu knew that the mysterious buyer was the Fu family.
Damn, the Fu family really act fast!