She decided to adopt a joint venture approach, as in the case of the automobile companies, to introduce the cutting-edge technology of Nippon Steel in the steel business.
FAW-Volkswagen, GAC-Honda, GM Ford, all basically adopted this joint venture idea, and these enterprises, after 20 or 30 years of joint venture development, also really achieved very proud sales results.
Nippon Steel is also very interested in this cooperation, plus the Moore family has the strength, land, and also a certain amount of experience in the steel industry, it is also a very good potential partner for Nippon Steel.
So the two sides hit it off right away, and all that remained was the discussion and formulation of the details of the cooperation.
Jasmine’s idea was for the Moore family to hold 51% of the shares and Nippon Steel to hold 49%, but Nippon Steel’s idea was for them to hold 51% and the Moore family to hold 49%.
Don’t look at such a small percentage difference, but it determines who is in charge of a company.
The 51% shareholder is the unquestionably largest shareholder, and has the absolute power to say one thing or the other on specific matters of the company.
Once this control is handed over to Nippon Steel, the Moore family will lose all dominance in this partnership.
At the negotiation table, the two sides tug back and forth on this issue, but no one is willing to take a step back.
Jasmine said to Nippon Steel’s top management: “Gentlemen, our cooperation this time, the reference is the automotive industry’s consistent mode of cooperation, in our country, local automotive enterprises, and overseas automotive enterprises to set up a joint venture company’s rules is the local enterprise share 51%, the overseas enterprise share 49%, after all, the enterprise is established in our country, also should be held by us, this point! I hope your company will understand!”
The person in charge of negotiating with Jasmine was the vice chairman of Nippon Steel, whose full name was Hashimoto Kensen, and was a member of Nippon Steel’s core management.
Hashimoto Kensen this year forty years old, in Japan’s society that attaches great importance to seniority, favonovel.com was able to climb to the core management so early, can be said to be a very right-wing person.
At this time favonovel.com looked at Jasmine and smiled slightly, “Miss Moore, I know the kind of cooperation model you are talking about in the automotive industry, but that model is not suitable for this cooperation between New Japan Railway and you.”
Jasmine said with a calm expression, “Mr. Hashimoto, where exactly is it not suitable for the cooperation between us? I would like to hear more about it.”
Hashimoto smiled first and said: “First of all, there are too many head enterprises of the automobile industry, Japan alone has Toyota, Honda and Nissan, Germany has BMW, Mercedes-Benz, Audi and Volkswagen, the United States has General Motors, Ford, Chrysler, Italy those Ferrari, Lamborghini, Maserati is not to mention, in this situation of many competitors, there will inevitably be peers! In relatively minor cases, people often undercut each other’s offers for the Chinese market…”
At this point, Hashimoto’s near-first expression, serious: “But the steel industry’s head enterprises a total of only a few, the world’s top ten steel companies, half of the list is based on large output, the real special steel core technology companies, a total of so three or four, the whole of Japan is only our Nippon Steel, the only one, your China has a saying, called ‘Rare is precious’, and it’s normal for Miss Moore to sacrifice more for the sake of such a rare partner as our New Japan Rail!”
Jasmine hesitated again and again, and spoke up, “Mr. Hashimoto, regarding the shares, I really can’t give back any more, the Moore Group must hold 51% of the shares in this cooperation, but as compensation for New Nippon Steel, we can give New Nippon Steel a certain inclination in the right to profit, and in the future, New Nippon Steel will enjoy 51% of all the net profits generated by our cooperation. What do you think of that?”
Hashimoto Konen shook his head without thinking and said seriously, “Miss Moore, we won’t make any concessions on the equity issue, if we were willing to make concessions on this point, we would have been in deep cooperation with the other steel companies in your country, so why would we wait until today?”
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