Chapter 319
Chapter 319
Foreign Minister Okamoto had to turn around without even going inside the OTK Company headquarters.
After the car left, the protesters demanding an apology in front of the car clapped in unison, and the victims wiped away their tears. Jinhu Kang bowed his head to greet them and then went back inside.
The image was captured on camera and broadcast all over the world.
The media poured out articles.
[Foreign Minister Okamoto humiliated in front of OTK Company headquarters][Jinhoo Kang, say you won’t give me back even a week][The Blue House, there is no reason to meet with Foreign Minister Okamoto][Comfort women and forced labor victims demand an apology from Foreign Minister Okamoto][Gang Jin-hoo’s diplomatic disrespect. Lowering the dignity of Korea][The voices calling for the government to step forward and apologize][What adverse effects will Jin-hoo Kang have on Korea-Japan relations?][What disadvantages the Korean government should bear diplomatically?]Some conservative media, such as the Cho-Chung Ilbo, expressed serious concerns about the deterioration of Korea-Japan relations, but most responded that they were blunt.
– Hahahahahahahahahahahahahahahahaha
– Kang Jin-hoo is famous in Korea, China, and Japan. Triple Crown Achieved!
– At this point, everyone has to admit a hat-trick.
– I admit that this is a good thing.
-I got tired of fighting spirit after the earthquake! Everything I see is cool.
– Even if Okazaki comes and gets on his knees and begs, don’t give it back.
– Diplomatic disrespect is a bummer. Isn’t it the fault of the guy who came to me even though I didn’t call him?
-I don’t know if Kang Jin-hoo is a public servant, but he’s a civilian. What do you say to the government?
-OTK Company is an American company, so why does the Korean government have to deal with diplomatic disadvantages? If you want to argue, go to the US and ask Mr. Roh.
– Who is it? Who voiced the need for our government to step forward and apologize?
-It’s just that the pro-Japanese people have a maguni, maguni!
* * *
I went to Golden Gate’s Korean branch with Taek-gyu. Hyunjoo noona and Ellie were waiting together.
It seems like they are both exhausted from the recent rush of work.
“Did you enjoy lunch, sister?”
At Taek-gyu’s question, Hyun-joo’s older sister shook her head.
“no.”
“Why didn’t you eat?”
“Does the rice look like it’s going down your throat now?”
said Ellie.
“I ate a sandwich.”
“Well done.”
Even today, your beauty shines. She just wants to get home from work and go on a date.
As we sat down, Hyun-joo’s older sister chewed on non-smoking gum, she said.
“Foreign Minister Okamoto has returned.”
“You don’t seem to think you don’t have time yet.”
“Are you really planning on doing it?”
“of course.”
The OTK Company account contains 14.87 million Toyota shares. Even if you don’t have to legally give it back, it’s hard to keep holding the stock.
Even if you own stock, you cannot realistically exercise management rights in Toyota. The Japanese government will not stand still.
Ultimately one of the two. Sell it somewhere, or negotiate with the Japanese government and return it.
“The Japanese government is well aware that it is difficult to get a full refund. Slowly, there was talk of negotiating with a return of 7 or 80 percent.”
If only 70% is returned, the remaining 30% will be officially recognized as ownership. That alone is about 700 billion yen.
That’s enough business left over.
If the Japanese government succeeds in getting the stock back, Prime Minister Okazaki and the LDP will breathe a sigh of relief and support will recover.
“If I give you 10 million shares, will you say thank you for giving me this much, or will I say something else later about not giving you 4.97 million shares?”
Taek-gyu said it was natural.
“How is it for a day or two to change Japanese children’s words?”
“Is that so?”
To end it like this, there are things I’ve done over there so far. It’s a good opportunity, but it’s a pity to let it go like this.
Hyun-joo noona asked while chewing smoking gum.
“What about Ronald?”
I remembered the last call.
“You told me to kill myself.”
“Actually, it’s allowed.”
If Ronald cared about Japan’s position, he would have mediated to return the stock at a reasonable level. He didn’t do it, which meant he didn’t mind.
The yen was made under the consent of the United States. At that time, the export items between the United States and Japan did not overlap, and there was a need to contain the Chinese economy.
Now, as the US is also focusing on manufacturing and exports, there was an atmosphere that it would no longer tolerate a lower yen. However, Prime Minister Okazaki continued to push the yen lower.
This is because there is a great risk that the Japanese economy will collapse again if Japan’s fiscal deficit increases and exports collapse in a situation where the domestic demand recovery is slow.
Hyunjoo’s older sister said.
“Anyway, the U.S. was planning to tinker with Japanese automakers. There is also talk of a customs imposition. There’s no reason to stop them if you say they hit you.”
Carlos is working with GM and Ford, and car workers are Ronald’s most important supporters. However, the Japanese government and Toyota attacked Karos, driving public opinion around the world.
I didn’t mention it directly in the call, but I was convinced that if I moved, the US would help too.
“By the way, if you do this, you will be cursed again.”
Taegyu said.
“You’ve already eaten enough anyway.”
“It is not.”
Eating a little more swearing here doesn’t really change anything. However, I do not intend to insult myself. If you have to eat cursing, you should eat it all together.
I mumbled the words of Karl Marx again.
“History repeats itself twice. Once as a tragedy, once as a comedy.”
Taek-gyu added a word.
“There is a saying that a slave is stabbed twice.”
I don’t know where it came from, but it’s a good word.
The clock hand slowly pointed to half past twelve. When the Nikkei Afternoon Market opens.
I said, clapping lightly.
“Shall we begin?”
* * *
Japan Public Pension Fund (GPIF).
It is one of the largest institutions in the world with over 1,500 trillion yen in operating funds alone.
After an order mistake occurred at Nishida Securities, protests flooded all over Japan. 2.3 trillion yen of old-age funds was blown away, who would love it?
In fact, if the manual had been followed, the accident would never have happened.
If the management had been entrusted to several securities companies as before, even if an accident occurred, the loss would have been limited. However, this happened because the management authority was given to one Nishida Securities.
Okuta, president of Nishida Securities, apologized for disciplinary action against the employee who made the mistake and that he would rectify the mistake as soon as possible. But no matter how hard he bowed his head, the problem was not solved. If you don’t get your shares back, bankruptcy is hard to avoid.
There is no single person to be held responsible. Some say that if the problem escalates, it will be difficult for even the prime minister to maintain his position.
Koji Namiki, chief investment officer (CIO), sincerely hoped that Jinhoo Kang would change his mind and return the stock.
No one can ignore the power of Japan. Can we get our stock back if we negotiate well?
By the way… … .
12:30 p.m.
Shortly after the Japanese stock market opened, Toyota stocks were sold. Tens of thousands of shares were sold at a time as if dropping a bomb.
The sell-off bomb from the Golden Gate account pulled down the entire Nikkei index.
The sudden situation shocked the Japanese financial world.
I didn’t even have to find out who was selling it.
“You crazy. Are you going to sell the stock at the market?”
There is no business in front of quantity. The stock, which stayed at 143,000 yen, fell more than 10 percent in less than five minutes.
As the price was much lower than the market price, buy orders poured in from here and there, but the selling trend did not stop.
If it had been sold through a block deal, it would have been more expensive than selling it in the market. But why are you so determined and selling at such a low price?
‘why… … ?’
At that moment, something came to mind. Today is the expiration date for options.
“Where did you buy futures and put options?”
Namiki quickly looked at the futures and options trades.
I bought it not only from Golden Gate, but also from various brokerage accounts. But when he looked skeptically, he continued to sell futures and buy put options.
Who is this?
‘What if we pour out all the remaining stock in time for the market closing time?’
It wasn’t just one person who noticed the situation.
In an instant, fear engulfed the Japanese stock market.
* * *
The pension fund has the tendency of an index fund that tracks the index, and puts the top-ranked stocks in the account according to the ratio. However, the Toyota stock, which should have been the most originally held, disappeared due to an order mistake.
In this situation, when the for sale was pouring in, the public pension fund had no choice but to buy it back with a weeping mustard meal.
Investors turned their attention to the Tokyo Stock Exchange.
On the expiration date of the option, the stock price becomes more volatile. If Jinhoo Kang decides to attack, how much more volatility can he increase?
Investors looked at the monitors and frantically placed orders.
“Are you sure you don’t intend to sell all 2 trillion yen in one day?”
“Are you going to lose on spot and profit on derivatives?”
“Even if that were the case, the in-kind losses would be much greater.”
“Anyway, the purchase price is only 14.97 million yen. So it doesn’t matter if I lose, right?”
Around 2:00 PM local time in Japan.
An emergency announcement was made in Washington, D.C. For reasons of national security, tariffs will be imposed on imported automobiles and parts in accordance with Article 232 of the Trade Expansion Act. Expected tariffs reached 20 percent.(Read more @ wuxiax.com)
It was clear who the announcement was aimed at.
Investors around the world noticed the situation in an instant.
“Does that Jin-hoo Kang is saying that the United States does not want to intervene?”
“The Ronald administration is not going to tolerate the yen any more!”
“It will be difficult for the Japanese stock market for the time being.”
It was the yen that pushed the Japanese stock market up. But what if the yen ends? Naturally, the profits of large exporting companies will decrease and the stock market will inevitably fall.
You are not on a sinking ship. Even if you get on again later, you have to get off now. Before everyone could finish their judgment, they tapped the keyboard with their fingers.
* * *
Activist hedge fund Albert Management.
Founder and chairman Carl Singer was notorious for being a money-minded speculator. Warren Boat said that what he was doing was no different than a vulture devouring a corpse, blatantly insulting him.
As much as that, he did not hesitate to do anything for profit, and he did not hesitate to do his garbage. He, too, had to resign after suffering a huge loss while dealing with Jin-hoo Kang in the Korean market.
Carl Singer said as if he was excited to see the Japanese stock market plummet.
“It’s the first time I’ve seen a bastard bigger than me.”
* * *
As Toyota stocks sold on the Tokyo Stock Exchange and the Nikkei plummeted, Japan was stunned.
Prime Minister Okazaki, who was outside, returned to his official residence as soon as he heard the news.
“What is the pension fund doing?”
Minister of Finance Matsukata answered.
“We are doing our best.”
The public pension fund started to defend the stock price by returning cash to invest not only in domestic stocks, but also in overseas stocks, real estate and bonds.
“Use everything possible! Asking brokers to cooperate.”
Finance Minister Matsukata said in a cold sweat.
“Yeah, that’s not just foreign companies, but Japanese securities companies are also joining in the sale.”
“What?”
Prime Minister Okazaki turned to his monitor. It was seen that Nomura Securities was on the top of the futures selling list.
In this situation, when the US tariff policy was announced, hedge funds around the world joined in selling. Although the pension fund bought it and defended it, it was no different from blocking a collapsing dam with your own hands.
All of this happened because of one person.
Prime Minister Okazaki couldn’t stand it any longer and shouted.
“You bastard after Kangjin!!!”
The Nikkei, which started at 20835, fell 8.02 per cent to close at 19164, the biggest decline since Brexit.
