Extraordinary Genius - Chapter 313 – What? AIWA repaid the debts?
The next evening, at a restaurant’s private room, Feng Yu, Heitaro Nakajima, Wilson, and Heitaro Nakajima’s lawyer were going through a few copies of contracts.
One contract was Feng Yu lending money to AIWA. Of course, it was not a low-interest loan. The interest rate was set at the maximum percentage allowed by the law.
Another contract was about Feng Yu investing a sum of money to AIWA, in exchange for some shares. It was Heitaro Nakajima’s shares. His shares were now 10% from 13%.
With both lawyers acting as a witness, the both of them signed the contracts. Feng Yu also passed Heitaro Nakajima two HSBC cheques.
“Mr. Heitaro, I trusted you with AIWA. I do not have too many requirements for this company. But I do not want to see such things happening again. If you still carry on making such mistakes, then according to our agreement, I can forcibly buy over your shares and kick you out of AIWA!”
Heitaro Nakajima gave Feng Yu a 90 degrees bow and said: “Mr. Feng, I am very sorry, and I promise you that I will not make such mistakes again. I will not let AIWA face such difficulties again. Even though the company still owes Sony more than 3 billion yen, but there are no problems with that loan agreement. We only need to repay Sony the interests every year, and the full loan repayment within 3 years.”
When Sony owns the controlling stake of AIWA, this loan agreement was not that strict. Heitaro Nakajima was the one who had persuaded Sony to give AIWA this low-interest loan.
If AIWA was not able to repay Sony, then Sony can take over AIWA’s technologies and brand. Sony felt that this was a good deal. AIWA had many electronic technologies which were better than Sony.
Feng Yu nodded: “That’s good. I am investing in this company and letting you run it. This shows that I trusted you. Sony does not agree with your business strategy of setting up multiple factories around the world, but I agree with you. I also agree with your development plans for Walkman. I hope you will not let me down.”
“Please rest assured, Mr. Feng. I will surely run the company well and achieve outstanding results!”
3 days later, all the bank representatives came to AIWA office again. All of them had an arrogant expression on their faces when they met Heitaro Nakajima.
All the bank representatives thought that Heitaro Nakajima only had two options. One was to sell AIWA shares to them. Second, was to sell AIWA shares to Sony.
All of them thought that Heitaro Nakajima was not able to repay the loans. If AIWA wants to repay their debts, then they would have to sell off their factories, shares and the company’s technologies. Based on the agreement between AIWA and Sony, AIWA’s technologies can only be sold to Sony.
Sony was the major shareholder of one of the banks that was present at the AIWA’s office. The bank representative was Watanabe Ichiro. He was the one who had asked all the banks to come and chase AIWA for repayments.
AIWA was coming up? All of them does not think so. Sony only used some tricks, and AIWA was finished. Other than Watanabe Ichiro’s bank, the rest of the banks does not want AIWA shares. All they want was for AIWA to sell off its shares and repay the loans.
But today, it seems that they could realize their goals.
“President Heitaro, what’s your decision?” Watanabe Ichiro asked with a haughty expression.
He does not care if Heitaro Nakajima was unhappy with him. Can he repay all his debts? If he cannot repay his debts, then he would have to agree to their conditions! How can the almighty Sony lose to a company that was previously owned by Sony?
“I had made my decision.” Heitaro Nakajima said.
“Well, President Heitaro, are you going to sell your shares to our banks, or is there any company that is willing to act as your guarantor? A company like Sony?” Watanabe Ichiro asked.
“No. I will repay all your loans!”
“What? You want to repay all the loans?” Watanabe Ichiro sat upright. He thought he was hallucinating. Heitaro Nakajima was going to repay all his loans?
“That’s right. I will be repaying all the loans. Since all of you are here, then let us calculate how much do I owe your banks. Interest and the principal amount. Oh, I will be using USD to pay. Please hurry up as the exchange rates change every minute.”
Heitaro Nakajima sat on the sofa looking at Watanabe Ichiro’s shocked expression. He was feeling great in his heart.
Humph! You think I do not know that it was Sony that instigate all of you to chase me for repayments? You think I will give in to you all? Impossible! From the day Sony sold AIWA shares without telling me, I had sworn that I will make Sony regret!
Now, all of you were regretting. Then carry on regretting! All of you want to take advantage of AIWA, take advantage of me? Dream on!
“President Heitaro, have you considered carefully? You owe us 5 billion Yen. It is 5 billion Yen!” Watanabe Ichiro shouted.
“I know. My company just received a sum of money. Even if it is more than 5 billion Yen, I can also pay. This is an HSBC cheque. You can check the authenticity of it.”
Watanabe Ichiro looked at the cheque in Heitaro Nakajima’s hand. There was more than one cheque. The figure stated in the first cheque was 400 million USD!
Who? Who was the one who had given Heitaro Nakajima so much money?
All the bank representatives were regretting. If someone was willing to invest so much money in AIWA, then AIWA’s financial woes were over. That means that AIWA will be doing well in the Walkman market. The banks will be losing out a lot of interest. They had also lost a potential high net worth customer.
“What did you say? AIWA had repaid all their loans with the banks? Impossible. AIWA does not have so much money!” Norio Ohga screamed into the phone. He nearly smashed the phone.
Impossible. This was impossible. 5 billion Yen. Even if AIWA stop paying his suppliers, they also can’t raise this amount. Unless someone had invested in AIWA!
For no reason, a Chinese man came to his mind. The young man who had bought the AIWA shares from him.
When that young Chinese man bought AIWA shares, he could quickly take out so much money. Maybe he could also take out 5 billion Yen to repay the banks. If AIWA had no problems with the finances, then with AIWA’s technologies and their current sales channels, Sony Walkman will be in deep trouble!
Sony had been helping AIWA in the past and had formed an alliance to stop the other competitors from entering the Walkman market. The both of them had succeeded in keeping their competitors away from this industry.
But Sony never expects that the AIWA they had been helping in the past, had grown to the level where they can threaten Sony’s position as the market leader. Norio Ohga was regretting now.
He should not have sold AIWA shares. Now, Sony can only break their alliance with AIWA!