v3 Chapter 1249： Mingxiu Plank Road Darkness Chen Cang

Latest website: Nippon Steel is one of the core pillars of the Mitsui Consortium, and because of the special properties of steel, this company can be said to be extremely important.

The size of a company is actually the embodiment of its overall strength, which includes the technical level.

The current pattern of the steel industry in the island countries is a pattern of one superpower and multiple powers.

One Super is Nippon Steel, which is proud of the crowd.

Duoqiang is a number of large steel companies such as Island Steel, Sumitomo Metal Industries, Kawasaki Steel, Kobe Steel, etc. These companies are all at the same level, and their turnover is between 1 trillion yen and 15,000 yen. Between 100 million yen.

However, compared with Nippon Steel, which has a turnover of more than three trillion yen, it is not as much as half of it.

This time it was the Mitsui Consortium that caused trouble to Xia Yu's acquisition plan.

If Mitsui Securities did not appear, with the Torii family’s shareholding ratio, according to the original plan of Jiuding Securities, it would be easy to win it, and the cost would not be high.

The funds spent now are enough to buy more than double the shares now!

On the Tiangong Motor Group, a company headed by the Toyota Motor Group, which is also a subsidiary of the Mitsui Consortium, took the lead in the blockade, and Nippon Steel took the lead.

Therefore, this time the contradiction is directly aimed at Nippon Steel, which is definitely not wronged!

The Mitsui Consortium is only, although the overall strength is stronger than Xia Yu.

But Xia Yu did not dare to fight it!

...

However, sniping on Nippon Steel, in addition to serving the purpose of disguising the Mingxiu plank road, one of the real purposes is to extortion and make money. If you really want to acquire it absolutely, it is very difficult for now!

Therefore, for the sake of his own steel field layout, Xia Yu prepared to keep secrets, and what really screened out were three other goals.

Tokyo Steel Corporation, Sanyo Special Steel Corporation and Nisshin Steel Corporation!

Tokyo Steel Corporation, which is a company founded in 1924 and headquartered in Tokyo.

As of last year, Tokyo Steel has 4,722 employees and 2.02% of total crude steel output in the island country. The company has sales of 189.33 billion yen and net profit of 2.63 billion yen.

This is a relatively independent steel company that has not joined any of the six major consortia. Because of multiple mergers and mergers in history, the Tokyo Steel Corporation has many shareholder factions. In addition, the government has failed in the past two decades. As a result, the island countries have serious overcapacity of steel production, so the competition is fierce.

Any of the six consortiums has overcapacity and high sales pressure, so Tokyo Steel, which proudly wanted to remain independent before, even if it wanted to be merged into the six consortiums, none of the consortiums could be appreciated. .

Without the background of the six major consortia and no powerful general trading company to help with sales, Tokyo Steel has a difficult business operation. This can be seen from the net profit margin of only 1.39%.

At present, the total assets of Tokyo Steel Corporation are 240.91 billion yen, the liabilities are 179.4 billion yen, the net assets are 61.51 billion yen, and the debt ratio is 74.47%. The company has been listed, but the market value is less than 60 billion yen. 52.36 billion yen, 19.9 times earnings.

This price-to-earnings ratio is very high in the capital market where the price-to-earnings ratio of island countries is generally only a dozen times.

It stands to reason that the steel industry is now a sluggish industry, and it is very abnormal to have such a high P/E ratio.

However, a closer observation reveals that the reason why it has such a high price-earnings ratio is due to the net assets of Tokyo Steel Corporation, which is now higher than its market value.

However, net assets are very important and not important. The key depends on the mentality of the investor.

For large consortia, if you have money, you don’t need to buy a company with such a low profit margin. You can’t win even if you run bank interest. In fact, you will lose money if you buy it. Even if you don’t lose the assets of Tokyo Steel, you will lose yourself Assets, so it is just a tasteless or burden.

For ordinary investors, such a low profit margin is still such a depressed industry, with few dividends and low upside potential, and there is no need to buy it.

So it is only natural that Tokyo Steel's market value is so low.

The second, Sanyo Special Steel Co., Ltd., was established in 1935. This is a specialized company producing special steel. Headquartered in Himeji City, southwest of Hyogo Prefecture, it was founded in November 1933. Sanyo Steel Co., Ltd. was established in 1935 and began to produce bearing steel. It was renamed Sanyo Special Steel Co., Ltd. in 1959.

The steel plant mainly produces special steel bars, wires, pipes and semi-finished products.

The detailed division involves steel used in bearing steel, tool steel, auto parts steel, transportation machinery, engineering construction machinery, petrochemical equipment, thermal power generation, electrical machinery and other fields. In addition, it also produces corrosion-resistant and heat-resistant superalloys, metal powders, metal powder metallurgy products, composite materials and magnetic materials.

Because it belongs to a more technical field in the steel industry, although Sanyo Special Steel's revenue is not as good as Tokyo Steel Corporation's revenue, only 67.39 billion yen, less than half of it, but its net profit is 2.75 billion yen. , The profit rate reached 4.1%, which is already considered high in the island country’s entire steel industry.

In terms of company assets, total assets are 99.49 billion yen, liabilities 62.29 billion yen, net assets are 37.2 billion yen, debt ratio is 62.6%, and debt ratio is much better than Tokyo Steel Corporation.

The market value is 40.74 billion yen, and the price-earnings ratio is 14.8 times.

This P/E ratio is the P/E ratio of an excellent steel industry company, which is in line with the characteristics of a depressed industry.

The last one is Nisshin Steel Co., Ltd., which was formed in 1959 by the merger of the island nation’s iron plate and Nichia Steel, headquartered in the New International Building, No. 4-1, Marunouchi 3-chome, Chiyoda-ku, Tokyo.

As of 1982, the company had 5,212 employees, and its crude steel output was 2.45 million tons, accounting for 2.42% of the island country’s 101 million tons of crude steel output (the second in the world). The company’s sales were 226.82 billion yen and the net profit was 56.7. Billion yen, with a profit margin of 2.5%.

In terms of assets, Nisshin Steel is the largest of the three, with total assets of 293.88 billion yen, liabilities of 20.99 billion yen, net assets of 92.89 billion yen, and a debt ratio of 68.4%.

Nisshin Steel was listed in 1972, and its current market capitalization is 86.22 billion yen, with a price-earnings ratio of about 15.2 times.

The reason why Nisshin Steel has a lower profit margin than Sanyo Special Steel, and a higher price-earnings ratio, is that it is a subsidiary of Nippon Steel, Nippon Steel holds 13.5% of its shares, and Nisshin Steel produces The steel can be sold abroad through Mitsui & Co., so the investment risk is lower for investors.

Of the three companies Xia Yu is staring at, the first two are relatively independent steel companies, and they are not backed by large consortia, and the only Nisshin Steel Company backed by Nippon Steel has a low shareholding ratio. If the raid is done properly, it is very possible to seize it from Nippon Steel.

Among the three, Nisshin Steel Corporation and Tokyo Steel Corporation are the most downstream companies producing crude steel. Together, their total output can reach 4.5 million tons, accounting for 4.42% of the island country's total output!

If it can be taken down, although it is still not as good as the crude steel output of the steel giants controlled by the six consortiums, it can become the strongest outside the six consortia.

As for the Sanyang Special Steel Company, what Xia Yu values ​​is its technical strength and rich products. Most of the products can be served by his consortium and can be digested internally. The most important thing is that it can greatly Solve the problems encountered by Tiangong Automobile Group.

Bearing steel, tooling steel, auto parts steel, etc. are all what Tiangong Automobile Group needs now!

...

Just when Xia Yu deployed and planned these three steel companies.

Jiuding Securities’ disclosure of its shareholding ratio in Suntory on the exchange has attracted great attention and heated discussions.

Immediately afterwards, the outside world was speculating about Jiuding Securities' intention to disclose its equity.

As the president of Jiuding Securities Company, Matsumoto Yu clearly announced his determination and attitude towards Suntory in an interview with reporters, and declared that he would invest another 100 billion yen in equity acquisitions!

Then domineeringly let out Any competitor with malicious intent will end in failure. It is recommended that they stop the loss as soon as possible, so as not to regret it!

As soon as the news came out, Suntory's stock price started to soar.

When Hyohei Haneda ridiculed Matsumoto at Mitsui Securities, Keizo Torii was frightened by the Torii family.

But he was unwilling to give up now, and ordered again and again to let the acquisition team increase the bargaining chip and try to get as much equity as possible.

At this moment.

Wells Fargo Bank, which had a friendly cooperation once, was very understanding and took the initiative to come to the door.

"Kun Torii, our bank is strong. I heard that you need a lot of funds recently, and we are willing to help you!"

In the meeting room of the Torii family, Toshi Maruyama, president of Wells Fargo Bank, smiled while looking at Keizo Torii and said.

Torii Keizo's hand holding the teacup violently violently, struggling violently in his heart...