OBS Chapter 21 You must be the newcomer.
Chapter 21 You must be the newcomer.
Takahiro Matsumoto nodded and posed a question:
"If someone wants to take control of Whitestone Refrigeration, what would their real purpose be? The profits from the cold chain alone don't seem worth such a big fuss."
Kiryu Yaya softly uttered four words:
"Dojima Cold Storage".
"What's truly valuable about Shiraishi Refrigeration isn't the book profit, but the Dojima Cold Storage asset itself."
"This piece of land is in a very good location. If the goal of external capital is not to operate a cold chain, but to demolish the cold storage and turn the land into commercial buildings, then the motivation is understandable."
Upon hearing this, Yamada Masakazu finally understood and quickly said:
"President Shiraishi and his family members appear to hold a 50% controlling stake, but it is uncertain whether the family members' shareholding is stable."
"If external capital were to acquire 28% of Shiraishi Takao's stake and 12% of Morikawa Sangyo's stake, that would be 40%."
"With 40% equity, if external capital can secure half of the equity held by the Shiraishi family and employees, they can control Shiraishi Refrigeration and take over Dojima Cold Storage!"
Kiryu Yaya nodded and said:
"Of course, this is just our guess. We need to confirm other issues before finalizing the loan."
Masakazu Yamada was silent for a moment, then he chuckled.
"Branch Manager".
"Um."
"Now I know that Fuji Metals' success is no accident."
Takahiro Matsumoto did not laugh.
But when his gaze fell on Kiryu Yaya, it was noticeably deeper than before.
"Kiryu-kun."
"Yes."
"Your analysis is very reasonable."
Matsumoto Takahiro slowly said:
"Section Chief Yamada, from now on, we'll treat this case as a risk financing case for control."
Masakazu Yamada sat up straight.
"clear."
Takahiro Matsumoto stood up.
"The preliminary hearing for the Shiraishi Refrigeration Case will begin tomorrow. The on-site investigation will take place Monday morning. Chief Inspector Chihaya will preside, with Kiryu assisting in the investigation."
Kiryu Yaya stood up straight.
"clear."
The two returned to the financing review department and told Chihaya Yuri about Shiraishi Refrigeration's case.
Chihaya Yuri raised her head, her gaze sweeping between Yamada Masakazu and Kiryu Yaya.
"Section Chief, what did the branch manager say?"
Masakazu Yamada said:
"The branch manager has been appointed. We'll look at it from the perspective of control risk financing. You'll be the lead auditor, with Kiryu assisting. We'll conduct an on-site investigation on Monday morning."
Chihaya Yuri's gaze paused slightly.
"Control risk?"
"Kiryu-kun's judgment."
Chihaya Yuri glanced at Kiryu Yaya, but didn't ask any further questions. She simply reached out and took the folder.
She flipped through the pages, her gaze lingering briefly on the shareholder register.
"Seiji Shiraishi 38%, Shiraishi family 12%, Takao Shiraishi 28%, Morikawa Sangyo 12%, Employee Stock Ownership Association 10%."
She closed the shareholder register.
"It certainly doesn't seem like a simple equipment loan."
Masakazu Yamada said:
"The branch manager's idea is to compile the preliminary review questions tonight. When we go to the site on Monday, we can't just look at the cold storage and equipment; we need to review the equity, guarantees, and execution procedures as well."
"Yes."
……
The discussion in the financing review class continued into the evening.
It was 7 p.m., and no one had left yet.
At 8 p.m., Masakazu Yamada stood up from his section chief's seat and went to the break room to pour himself a cup of coffee that had already been brewed until it was bitter.
When he walked back with his cup, he paused for two seconds next to Kiryu Yaya's workstation, glanced down at the densely packed forms on his desk, said nothing, and then went back with his coffee.
Kiryu Yaya drank a bottle of strong Red Bull at noon, and is still full of energy, maintaining a high-intensity work state.
Indeed, "your energy is beyond your imagination."
This made Chihaya Yuri, who was sitting next to her, turn her head to look.
Three tea bags were already stacked next to her own teacup, and her temples were throbbing slightly, while the newcomer next to her worked at a pace that never slowed down from beginning to end.
Doesn't this guy ever get tired?
Nine o'clock in the evening.
Only the breathing of the three people and the occasional rustling of turning pages remained in the office.
Kiryu Yaya placed the organized documents on Chihaya Yuri's desk.
"Chihaya, the preliminary list is ready."
Chihaya Yuri raised her head.
Her eyes were a little dry, and she blinked before focusing on the documents on the table.
"Is it all organized?"
She assigned Kiryu Yaya a workload that lasted for both Saturday and Sunday.
Kiryu Yaya nodded:
"While my thoughts were still clear, I got everything sorted out."
Chihaya Yuri quickly picked up the documents on the table.
First copy:
Preliminary Risk Memorandum for the Financing Proposal of Shiraishi Refrigeration Co., Ltd.
Second copy:
Breakdown of the Use of Funds from the Joint Financing between Shiraishi Refrigeration and Shiraishi Seiji
Third copy:
Implementation Timeline Before Golden Week
Fourth copy:
List of Supplementary Materials for On-site Investigation
Fifth document: ...
She flipped through it very quickly.
Masakazu Yamada walked over with a cup of coffee.
"What's wrong?"
Chihaya Yuri didn't answer, but simply handed him all the documents.
Yamada Masakazu looked down and his eyes widened as well:
"Is it all done?"
He looked at Kiryu Yaya in disbelief:
"Kiryu-kun, did you tidy all this up tonight?"
Kiryu Yaya nodded:
"Yes. It's just a preliminary version; it still needs to be revised by Section Chief Chihaya and the division chief."
He spoke calmly, without any hint of boasting.
Masakazu Yamada looked at Yuri Chihaya.
"Chihaya, what do you think?"
Chihaya Yuri closed the memo.
"The framework is usable."
She paused, then added:
"It's more complete than I expected."
The fact that these words came from Chihaya Yuri's mouth is enough to demonstrate the high quality of these documents.
Kiryu Yaya bowed slightly.
"Thank you, Section Chief Chihaya."
Masakazu Yamada looked at him over and over again, as if he were looking at a freak.
Chihaya Yuri didn't respond. She put the documents away again and began assigning tasks for Monday's field investigation.
"The section chief is responsible for confirming the financing background, existing borrowings, and the relationship with the main transaction bank with President Shiraishi."
"I am responsible for equity, guarantees, and contracts."
"Kiryu-kun, come with me and focus on Shiraishi Takao's 28% stake, Morikawa Sangyo's 12% stake, the employee stock ownership plan, and the equipment situation at Dojima Cold Storage."
Kiryu Yaya nodded.
"clear."
Masakazu Yamada glanced at the clock:
That's all for today.
Kiryu Yaya was slightly taken aback.
In a bank, it's even rarer for a section chief to say "That's all for today" than for a bonus.
Masakazu Yamada seemed to have read his mind.
"Don't look at me like that. The real busy period starts on Monday."
Kiryu Yaya immediately stood up straight.
"Yes."
……
Saturday morning.
Mitsubishi Bank's Osaka branch is not open to the public.
The main entrance's roller shutter door was halfway down, with only the staff entrance on the side open.
Traffic on Midosuji was much lighter than on weekdays, with only the occasional taxi driving by on the empty road, its exhaust sound quickly fading into the morning air.
Kiryu rode his Bridgestone bicycle to the bank entrance, locked it, and swiped his card to enter through the staff entrance.
The hall was empty.
There were no customers queuing, no sound of female clerks stamping documents at the window, and no sound of male clerks carrying vouchers in the business department.
On weekends, banks are like a giant animal that is temporarily asleep.
But the lights in the financing review office on the third floor were already on.
Chihaya Yuri arrived even earlier than him.
She sat at her workstation, her desk tidy, files spread out, and a red pen, pencil, ruler, and calculator lined up in a row.
She didn't wear a suit on the weekend, but only a dark gray knit sweater with the cuffs slightly rolled up above her wrists, revealing a section of her neatly shaped forearm, giving her a more homely feel.
"8:50."
She looked up at the clock.
"We didn't scout the location this time."
Kiryu Yaya bowed slightly.
"Thanks to the department head's guidance."
Chihaya Yuri ignored his politeness and pushed a document towards him.
"Take a look at this."
Kiryu bowed his head.
The file title is:
Analysis of Shiraishi Refrigeration Co., Ltd.'s Equity Structure and Use of Financing
He sat down and turned to the first page.
The morning passed by amidst numbers and documents.
Noon.
Just as Kiryu Yaya rubbed his eyes, footsteps suddenly came from outside the corridor.
A girl with a short ponytail peeked in.
"S-Senpai? You were here after all!!"
Mizuna Yayoi stood at the door holding a cloth bag.
She wasn't wearing her uniform vest today, but rather a light blue shirt and a dark gray skirt.
Upon seeing Chihaya Yuri in the financing review class, she froze for a moment as if a pause button had been pressed, and then immediately stood up straight.
"Thank you for your hard work, senior!"
Chihaya glanced at her, recognized her as the new employee in the sales department, and nodded.
"Are sales staff working overtime too?"
"Yes, yes! Section Chief Takei said the data for the end of the month needs to be organized in advance..."
As Yayoi Mizuna spoke, her voice grew softer and softer.
Chihaya didn't ask any further questions. She simply hummed in agreement and continued looking down at the documents.
Yayoi Mizuna then carefully walked to Kiryu Yaya's side and placed the cloth bag on the corner of his table.
"Senior, here's today's bento."
Kiryu Yaya opened it and took a look.
The salmon rice ball, tamagoyaki, fried chicken, spinach and sesame, and two cherry tomatoes were arranged neatly.
It was also a very luxurious meal.
"Thanks."
Mizuna Yayoi's eyes curved into a smile.
"I'll head back to the sales department now. Good luck to you today, senior."
She had just turned around when she heard the voice of a director from the financing department in the corridor.
"Ah, Kiryu-kun, you're here on the weekend too."
Kiryu also looked up.
The director, carrying the documents, walked by and said with a smile:
"I heard you're the new guy from the Fuji Metals case, right? You've only been here less than a month and the branch manager already remembers your name, that's impressive."