Chapter 138: The Swarming Japanese Conglomerates

Morgan Stanley was still waiting for news, but to their surprise, the Japanese conglomerates were far more aggressive.

A game console and a series of comics were enough to make their mouths water. They understood the value of these two assets perfectly well; since William White needed capital, there was no reason to hesitate. Securing the investment immediately was the sensible move.

How could the local Japanese conglomerates not know how profitable this guy was? His wealth was already circulating within their own stock market. One only needed to calculate his market capitalization to see it.

The American investment banks were left in a state of confusion. Had they missed some critical information? Why were the Japanese acting like they had been injected with adrenaline?

Just like that, the original plan was completely scrapped. There was no guarantee that White would even seek loans from American conglomerates when such obvious interest rate differentials existed; he wasn't crazy, after all.

The American conglomerates’ misjudgment wasn't without cause. It was impossible for them to know the full extent of William White’s earnings in Japan. His profits weren't being repatriated; they were being funneled directly into offshore fund companies, leaving the Americans completely in the dark.

Just because they didn't know didn't mean the Japanese were ignorant. Now, they were knocking on his door to snatch the business.

The communication with the Japanese conglomerates was pleasant. With cheap loans available, William White had no reason to refuse. He simply refused to borrow in Japanese Yen; he didn't dare touch that currency. With the exchange rate currently at 250, if he actually borrowed in Yen, he’d essentially be a "250" (a slang term for an idiot).

The Japanese were quite satisfied with this *gaijin* who could speak a few phrases of their language; at least he lacked the typical overbearing arrogance of the Americans.

In modern economic activities, operating without loans is impossible. Being able to secure cheap financing proves your excellent repayment ability, which in turn acts as a measure of your company’s value—or your own.

"What? One billion US dollars? Have the Japanese lost their minds?"

"The details aren't entirely clear yet, but the interest rate is extremely low. I really don't understand what those Japanese are thinking."

"Tsk, send someone to investigate."

Of course, the Japanese knew full well that this guy was just engaging in capital operations. The money would likely circle back to Japan eventually. They just couldn't fathom why they had such confidence in him.

Of course the money would return to Japan; America didn't have many attractive investment targets, and the Nasdaq was too small a pond—buying too much would drive prices up.

"You’ve worked hard these past two days. There’s nothing on the schedule today, so you can sleep in."

"Thank you for your consideration."

"There, there. Be a good girl and get some more sleep."

William White was in excellent physical shape, which had left Meiko utterly exhausted. During the day, she had to accompany her boss to entertain the conglomerate heads, and at night, she had to serve her exceptionally energetic boss. This morning’s "extra time" match was more than even a Japanese girl could handle.

In truth, she didn't realize she was already being treated like a private car; William White was quite careful, never exceeding the speed limit or slamming on the gas. If he had truly let himself go, she might have needed a major overhaul.

After showering, William White left the spacious bedroom. A line of attendants stood respectfully by the door; they all had their tasks, a repetitive but steady routine. Fortunately, this wealthy patron wasn't difficult to serve and had no bizarre or special requirements.

As his status rose, the number of people serving him seemed to increase, but he left all those arrangements to Uncle Fu and never bothered with them.

"Young master, are you going to the company today?"

"No, Uncle Fu. I’m exhausted from the last two days and need a rest. If they have anything urgent, tell them to come directly to the house."

"Very well, young master. Please take care of your health."

"I know."

After breakfast, he took his Husky out for a walk. The silly dog had been restless since returning from the farm and loved to cause trouble if not watched. Fortunately, there was no antique furniture here, or it would have been a tragedy. The creature was too fat, and to keep him from eating himself to death, he was no longer allowed to scavenge; animals were best kept on their own diets to ensure their health.

Having secured a massive loan, William White felt nothing out of the ordinary. The profit expectations for his game and comic companies were indeed excellent, and the software company was equally promising. Using the equity of these three companies as collateral was perfectly sound.

If he needed more loans, the conglomerates would continue to support him, though they certainly didn't have his best interests at heart. They would prefer he fail so they could get their hands on those companies and pull them back to Japan.

The Americans had their own procedures for valuing companies, and everyone else had learned from them. However, the Americans were biased in their future projections; they didn't believe such high profits were sustainable, while the Japanese believed the exact opposite.

The Japanese saw huge untapped potential, believing that the comics and game consoles were only just beginning, and the software company had even greater prospects. These were top-tier assets. Most importantly, the cash flow of these companies was astronomical, and their debt levels were very healthy, with no unnecessary expenditures.

The loan this time wasn't even being used by these companies, which was great. As far as the Japanese were concerned, Disney and NBC were nothing but trash. If William White could continue his magic, great; if he messed it up, they wouldn't hold back.

Was that it? Where were the acquisition intentions?

William White was already qualified to play the capital game. He wouldn't be foolish enough to just take cash and go buy companies—that would be the act of an idiot.

William White’s "buy, buy, buy" spree in Japan had stunned everyone. Fortunately, they weren't stupid and quickly figured out his motive: if nothing went wrong, these stocks and properties would certainly be pledged as collateral again.

Arrogant? Perhaps. But so what? The American investment banks had been misled by his stability; William White was far more aggressive than they imagined. Once he acquired the companies, the likelihood of him pledging the shares again was extremely high.

This chain-link structure looked perfect, but it had one flaw: not a single link could fail. If the value of the collateral dropped, the banks would turn on him in an instant.

This was already the safest method. He didn't trust Morgan Stanley’s integrity. While the Japanese conglomerates weren't saints either, Japanese stocks were solid, and the property market was fine—nothing about his intervention would change that.

Morgan Stanley was now in a foul mood. Their plans had effectively fallen through. White had no interest in their financial schemes; the logic was simple—their valuations were wrong, and he could get more money elsewhere at lower interest rates.

"Boss, their comics are extremely popular in Japan, selling out in two days. The demand for the game consoles is even more terrifying. Our team made a rough calculation, and they concluded that Japan will need about 500 million US dollars worth of arcade machines next year."

"Hmm, so that means William White will earn at least 100 million."

"I’m afraid it’s more than that. They are even more excited about the three games coming out this year. The three currently selling well haven't even fully utilized the platform's potential."

"What is Atari doing? Can't they just copy it?"

"I’m afraid not. They can't use that platform, the chipsets are in William White’s hands, and there’s a pile of patent licenses involved."