During this period, Heitaro Nakajima was very happy. Aiwa's new product had entered the market, and it was selling very well in China. It had taken over 40% of the market share, and it was also selling well overseas. Their market share was increasing.
Hong Kong's Aiwa Company had told Feng Yu that Sony was almost out of Aiwa's market in China. It was the same in Taiwan, Macau, and Hong Kong. Aiwa brand had become the number one Walkman brand!
Aiwa believed that after some time, when they introduce a new product with better quality, the company's operations will reach new heights! This year's sales will be close to 10 million units! But Heitaro Nakajima's target was to exceed 10 million units!
Next year, they will introduce an even better model. He believed that this model will be a historical classic. He wants AIWA to be the leader in the Walkman industry. He wants AIWA to overtake Sony and all other Walkman manufacturers!
When that time comes, he can be like Sony. Their Walkman quality is the same as others, but they can sell it at a higher price than others. Their sales will be higher, and their profits will be higher!
Maybe next year, Feng Yu will be able to let Aiwa pay off their debts. After all, Aiwa will get at least 3 million Yen in profits for every Walkman sold. Aiwa's debts had increased to more than 8 billion Yen due to the global expansion of factories last year and this year. Most of the debts were owed to the banks and Sony.
After that, AIWA's production and sales will reach the peak. That day will be AIWA's and Heitaro Nakajima's moment of glory!
At first, Heitaro Nakajima thought it would take at least 4 to 5 years to achieve this goal. Especially after Sony had withdrawn their investments and sold their shares to Hua Xia's boss. Heitaro Nakajima did not expect to achieve this goal in less than 3 years!
Hahaha, Sony, Norio Ohga, you all will regret dumping AIWA!
"President, the higher management of a few banks are here. From their attitude, it seems they are here to demand repayment."
Huh? Demand repayment? The bank's loan deadline is not up yet. Why are they here to demand repayment? I had paid the interest of the loans monthly. Although I might have defaulted on the payments for the past two years, I had not defaulted on any payments this year. Why are they here?
"Invite them to the meeting room."
Heitaro Nakajima had a bad feeling when he saw these people. Why were the few banks that had taken loans from AIWA here? What do they want? Are they here to demand repayment?
"Why are you all here at Aiwa today?" Heitaro Nakajima sat down with a smile on his face.
"President Yanagi, I heard that Aiwa's sales are doing well these few months, and our bank's funds are under a lot of pressure. You should also know that the economy outside is not doing well. Can Aiwa's loans be repaid earlier? "A bank's higher management staff asked with a troubled look on his face.
Heitaro Nakajima's face changed: "Mr. Watanabe, what do you mean? Our loan is not due yet. Why should we pay it back early? Didn't I pay you the monthly interest? "
Feng Yu did not expect these people to be here to ask for repayment. Aiwa was still in the expansion phase, and if Aiwa were to repay them, the company's cash flow would be cut, and Aiwa would be finished.
"President Yagyuu, there's nothing we can do. If you pay back some, we'll be able to answer to the higher-ups."
"I'm sorry, I can't do that. According to the contract, I have the right to refuse payment. You should know the sales of our company in the first half of the year. Based on the current situation, our Walkman sales will exceed 10 million units this year! If your bank is in trouble, I can promise you that we will repay the loans in advance next year. Is this fine with you? If you want us to repay the loans now, then Aiwa will not be able to repay the loans, and the company's cash flow will be cut. We will not be able to repay the loans we owe you! "
The few bank's higher management looked at each other. Watanabe hesitated for a while and said: "President Heitaro, since you want to talk about the contract, we will talk to you about the contract. In March two years ago, your interest payment was delayed by 3 days. In May two years ago, your interest payment was delayed by 8 days. Last February, June and November, last year. As you were late in repaying the interest several times, we can ask you to repay the loans earlier according to the contract. All our banks have the same intention. If you refuse, we can apply to the court to freeze your company's bank accounts and auction off all your company's assets! "
Heitaro Nakajima stood up: "What is the meaning of this?!"
Were these people crazy? Freeze the company's bank accounts and auction off the company's assets? Even if Aiwa sold off the company, it might not be enough to repay them. If Aiwa was given 1 to 2 years, not only could they repay the loans, they could also get high interest payments. Why were they doing this? Did they want to force Aiwa into a corner?
"Cough … … President Heitaro, do you know why we did not do this last year when we could have done this? It is because your company's major shareholder is Sony. Now, Sony had sold off all your shares, and our bank no longer owns Aiwa's shares. How about this? If you are willing to use your shares to repay the debts, or if a big company is willing to be your guarantor, we will not collect the loans in advance. "
Heitaro Nakajima narrowed his eyes. He finally understood what was going on. These people saw Aiwa was doing well now and wanted a share of the profits.
Heitaro Nakajima suspected that these banks must be organized by someone for them to come to Aiwa at the same time. This person should be Sony!
Sony will never be a guarantor for Aiwa, unless Aiwa sells off a portion of its shares to Sony. This way, Aiwa will be under Sony's control again, and Heitaro Nakajima's shares will be reduced.
Oh, there was still a major shareholder in the company. It was Hua Xia's major shareholder. He was the controlling shareholder, and Heitaro Nakajima needed to discuss with him.
"Please go back first. Let me think about it and give you all an answer." Heitaro Nakajima narrowed his eyes and said.
"President Heitaro, you must think about it quickly. We are very anxious. 3 days. If you still do not give us a satisfactory answer in 3 days, then I am sorry! "
Heitaro Nakajima gritted his teeth as he watched these people leave.
… …
"Ok. I know what happened. How much do you owe those banks? I am talking about USD. I can lend a sum of money to Aiwa. Part of the money will be used as a loan, and the other part will be used as a capital injection. You did not notice this loophole, and according to the agreement, this is considered a dereliction of duty on your part. I will not remove you from your position. But as a punishment, your shares will be diluted to 10%! "
"I owe those banks a total of 5 billion Yen. Based on the current exchange rate, it will be about 40 million USD." Heitaro Nakajima said carefully.
Even if his shares were diluted by the major shareholder, he would still be the company's second largest shareholder and the company's President. It was better than those black-hearted bankers taking away Aiwa's shares. He does not want to return to Sony's shadow.
It was only 40 million USD. Can his boss take out such a large sum of money?
"Ok. I know what to do. Tomorrow, bring your lawyer to Beijing to sign the contract. I will settle the money issue!"
Feng Yu had a smile on his face. This was a good opportunity. He did not expect to get more shares of Aiwa. In one or two years, these 3% shares will bring in tens of millions of USD!
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