Golden Spoon Investment Portfolio - Chapter 187

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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187. I’m afraid there’s no longer any need for that.

Nihonbashi Kabutocho, Tokyo, Japan.
Home to the Tokyo Stock Exchange and countless other financial institutions, this district—known as Japan’s Wall Street—also housed the Eldorado Fund’s Japanese branch.
In a pristine conference room with expansive floor-to-ceiling windows overlooking the densely packed skyline of towering buildings, Moriyama, the Finance Director of Nissan Motor, sat with one of his subordinates, both wearing expressions of barely concealed anxiety.
They had scheduled this meeting and traveled to Tokyo in person to terminate the options contract they’d entered into with the Eldorado Fund.
Tea brought by the Female Secretary who’d shown them to the conference room sat untouched on the table, while Moriyama stared anxiously at his watch without making a move.
Unable to bear watching his superior check his wristwatch for what seemed like the hundredth time, rolling up his sleeves repeatedly, the subordinate finally spoke up from beside him.

“Should I go ask when Mr. Porter will arrive?”

Moriyama considered for a moment, then shook his head.

“No. Since we’re here to ask for something difficult, let’s wait a bit longer.”

Even as he spoke, Moriyama’s eyes drifted downward to glance at his watch once more.
Seeing this, his subordinate wisely fell silent and said nothing further.
After waiting another five minutes or so.
The door finally opened, and a Caucasian man in his late thirties wearing a luxury necktie entered with a Japanese staff member.
It was John Porter, formerly of Lehman Brothers, now serving as the Director of the Eldorado Fund’s Japanese branch.
Though a native American, he had resided in Japan for over five years now, making him fluent in Japanese and well-connected in the local business community.

“I apologize for making you wait, coming all the way from Yokohama.”

At Porter’s words, Moriyama sprang to his feet and extended his hand.

“Not at all. I’m the one who should apologize for asking you to make time despite your busy schedule.”

After exchanging handshakes and brief pleasantries, both parties took their seats across from each other at the long conference table.
Porter, his face beaming with a friendly smile, regarded Moriyama with an air of ease as he spoke.

“The dollar-yen exchange rate has been climbing so steeply lately that we’re fielding three or four meetings a day regarding the options we’ve sold. I’m beginning to think I need to be in two places at once.”
“…I see.”

Unlike Porter’s casual delivery, Moriyama’s expression stiffened slightly.
Catching this subtle shift from the corner of his eye, Porter inwardly smiled, satisfied that he’d seized the initiative before negotiations even began, and continued with unflappable composure.

“Nissan Motor also has a matter regarding the option contract.”

Moriyama leaned forward in his seat and responded with a grave expression.

“That’s correct.”
“Tell me what it is.”
“I’d like to terminate the knock-in knock-out option.”

John Porter’s lips curled slightly upward, as if he’d anticipated this.
He’d already foreseen that Nissan Motor, like the other companies caught in the option trap, would come rushing to him in desperation.
John Porter reclined against his chair and expressed his reluctance.

“I’m afraid that won’t be possible.”
“But the contract clearly includes a termination clause, doesn’t it?”

Moriyama swallowed hard and countered urgently.

“Of course it does. However, if you read the terms carefully, you’ll see that both parties must consent to terminate the option.”

John Porter spoke smoothly, as if reciting a prepared script, and fixed his gaze directly on Moriyama.

“You’re aware of today’s exchange rate, aren’t you?”
“….”
“It dropped slightly from yesterday’s closing to 99.11 yen, but we’re still on the verge of breaching 100 yen per dollar.”

Observing Moriyama’s darkening expression, John Porter shrugged.

“In other words, the knock-in option condition is about to be triggered. If we terminate the contract now, my headquarters will sue me for breach of fiduciary duty.”

Moriyama was well aware that this was an unreasonable request.
But with hundreds of millions of dollars in losses about to materialize, what good were concerns about pride or propriety?
Moriyama appealed earnestly, clinging to his last hope like a drowning man grasping at straws.

“The yen has fallen significantly, but it hasn’t crossed 100 yen yet, has it?”

John Porter’s lips curled upward with leisurely confidence.

“Of course not. But since you believe it’s only a matter of time before the yen breaks through 100, that’s precisely why you’ve come here so urgently requesting contract termination, isn’t it?”
“That is….”

John Porter’s sharp observation left Moriyama speechless.
Just as he was scrambling to find a counterargument, Porter’s voice came again—polite yet resolute.

“I genuinely sympathize with your difficult position, but I cannot take actions that would harm the fund. I hope you understand.”

It was a flawless refusal with no room for negotiation.
Yet Moriyama, unable to return empty-handed, clung to him desperately.

“Please reconsider just once more. After all, the option hasn’t been exercised yet, has it? If we pay a sufficient termination fee, there’s no reason for you to face any difficulties!”
“This is…”

Porter crossed his arms and furrowed his brow, looking troubled before asking.

“Let me ask then. How much of a termination fee can you offer?”

At Porter’s words, Moriyama’s eyes lit up with sudden hope.
Though his tone suggested reluctant inquiry, once he heard the termination fee amount, Porter’s mind might change.
Grasping at this thread of hope, Moriyama bit his lip and deliberated.
His original plan had been to start low and gradually reach a compromise, but observing Porter’s demeanor, it was clear that such tactics would prove utterly futile.

‘Then…’

Moriyama quickly calculated and presented the maximum amount he could offer.

“We will pay one hundred million dollars as a termination fee.”

Moriyama fixed Porter with a determined gaze.
One hundred million dollars was an enormous sum.
He had scraped together this amount by persuading Yamamoto to abandon his schemes, and he was confident Porter would show interest.
But contrary to Moriyama’s expectations, Porter’s expression remained unmoved.

“Surely you’re aware that even if the exchange rate reaches merely 100 yen per dollar, I could earn far more profit than what you’ve just offered?”
“The option hasn’t been exercised yet, has it?”

Moriyama bristled at Porter’s unexpected response and shot back.

‘One hundred million dollars isn’t enough?’

Porter let out a soft chuckle, crossed one leg over the other, and settled back with unhurried composure.

“Then let’s monitor whether it breaks through 100 yen during the contract period.”

Seeing this, Moriyama felt a sudden surge of anger rising within him.
However, since it was Nissan Motor that stood to lose, Moriyama forced himself to soften his expression and asked.

“Then why don’t you tell us what amount you’re looking for.”
“Hmm, well…”

John Porter paused as if considering, then replied.

“Given the yen’s continued depreciation, terminating the contract might result in reprimand from headquarters. However, if you provide a termination fee of 200 million dollars, I’ll consider it.”
“Did you just say 200 million dollars?”

Moriyama asked back in shock.
Wasn’t that twice the amount originally proposed?
Getting approval for 100 million dollars had been difficult enough, and now 200 million dollars? It was absurd.
John Porter nodded casually and spoke.

“If the knock-in option is satisfied, the minimum profit generated would be 200 million dollars. Surely that’s the least we should receive.”
“This… this!”

Moriyama’s face flushed red as he clenched his teeth.

“That’s an excessive demand!”

Then John Porter’s smile vanished entirely, and his gaze turned cold.
It was a stark shift from the courteous demeanor he’d maintained until now—as if it had all been an act.

“You were the one who first demanded to terminate the option. If you find it difficult to accept, you can simply proceed with the contract as is.”

It was a harsh demand, but not an unreasonable one.
To ask him to simply walk away from a situation where clear profit could be made—if the positions were reversed, he would never agree to such terms.
Moriyama could offer no further objection and bit his lip firmly.

‘This negotiation was doomed from the start.’

Moriyama’s expression darkened in an instant, and he felt his grip weaken as his head drooped.
No matter what, I had to prevent the knock-in option from being triggered.
At this point, the best solution was to pay a termination fee and cancel the contract.
Moriyama felt as though he were sinking into a quagmire, grasping at straws as he pleaded.

“Two hundred million dollars is too much. Could you not show a bit more leniency?”

But John Porter shook his head coldly.

“That’s already a generous figure considering my relationship with you, Moriyama. There’s no room for negotiation here—either accept it or refuse.”

Faced with such an unyielding stance that left no room for compromise, Moriyama’s expression grew troubled, and an involuntary groan escaped his lips.
One hundred million dollars was already an amount he’d barely managed to secure after painstakingly persuading Yamamoto, and now he was being asked to double it—the world seemed to darken before his eyes.
For a moment, he entertained the thought that if a miracle occurred and the yen stopped weakening before reaching 100 per dollar, the knock-in option wouldn’t trigger and he could simply endure it. But he quickly shook his head.

‘The risk is far too great for that.’

The Federal Reserve had lowered its benchmark interest rate, and the Japanese Government was issuing massive amounts of government bonds—all the surrounding conditions were pushing the yen’s value downward.
Given this, the yen’s weakness would only deepen, and the likelihood of it stabilizing here was extremely slim.
If that happened, two hundred million dollars wouldn’t be the problem—Nissan Motor’s foreign exchange losses would balloon exponentially as the yen plummeted.
The thought made his vision swim.

‘Could it be that the Eldorado Fund planned this from the beginning and sold such an absurd option intentionally?’

Moriyama glared at John Porter with suspicious eyes, watching him sit there with infuriating composure.
But even as he thought it, he realized it made no sense, and he quickly shook his head.
When the knock-in knock-out option was sold, the yen had been rising sharply.
Moreover, even if it did fall, no one could have predicted it would drop this steeply.

‘If someone had foreseen all of this and orchestrated it, they’d have to be either a genius or a god—otherwise it’s impossible.’

But could such a person even exist in this world?
Cornered as he was, Moriyama found himself entertaining pointless thoughts and let out a hollow laugh.
In any case, he’d fallen squarely into an inescapable trap, and while Moriyama regretted entering into the option contract, there was no way to undo it now.
After racking his brain and finding no alternative solution, Moriyama spoke with resignation.

“I’ll consult with my superiors first.”
“By all means. But understand that time is not on your side.”

Moriyama’s shoulders sagged, his expression turning bitter.

“I understand.”

If the dollar-yen exchange rate exceeded 100 yen even for a moment, the knockout option would trigger immediately. To cancel the contract, I had to settle this before that happened at any cost.
As I grew anxious and prepared to rush back to Yokohama where the Headquarters was located to persuade Yamamoto and the executives, there came a knock.
Knock, knock.
A Japanese employee from the Eldorado Fund opened the door and entered.

“Forgive the interruption.”
“What is it?”
“There’s something urgent I need to report.”

The employee approached and handed a note to John Porter.
John Porter unfolded the note that had been folded several times, checked its contents, and his eyes widened slightly.
Then he looked up and glanced at Moriyama sitting across from him before folding the note again and tucking it into his inner pocket.

“Understood. You may go.”
“Yes.”

The employee bowed slightly and left the Conference Room.
Watching this, I felt puzzled about what it meant, but I quickly refocused my mind.

‘That’s not what matters right now.’

First, I needed to resolve whether I could secure 200 million dollars or not.
Just thinking about how Yamamoto, who only cared about self-preservation, would throw a fit already gave me a headache.

“Then I’ll do my best to give you an answer as quickly as possible, as you’ve requested.”

As I said this and began to rise from my seat, a soft cough came from across the table.

“Actually, there’s no need for that anymore.”
“Pardon? What do you mean?”

I half-rose, my brow furrowing in confusion.
No need? What could he possibly mean?
Before I could even finish the thought, John Porter’s words reached my ears.

“I hear the dollar-yen exchange rate just broke through 100 yen.”
“…!”

Moriyama’s eyes widened in shock at the thunderbolt of news.
I couldn’t comprehend what I was hearing.
The dollar-yen exchange rate breaking 100 yen—when on earth did that happen?
In that moment, Moriyama recalled the employee who had entered the room earlier and handed the note to John Porter.

‘Could it be… could that note have been…!’

As my hands began to tremble violently, all color drained from my face.
The employee beside me, who had been gathering documents, stood frozen with an ashen expression.

“Is… is that really true?”

Moriyama stammered the question, scarcely breathing.
Despite hearing it with my own ears, I couldn’t easily accept the reality of the situation—my expression was half-dazed.

“It is.”
“Good heavens.”

John Porter nodded his head.
Moriyama felt the ground crumbling beneath my feet and collapsed into the chair with a hollow expression, utterly drained of strength.

“Since the trigger condition for the option has been activated by exceeding 100 yen, all the discussions we had before are now meaningless. I trust you won’t forget that according to the contract terms, you must exchange dollars equivalent to four times the agreed amount at the predetermined exchange rate.”

John Porter spoke with cold, emotionless words before rising and leaving the Conference Room.
Left alone in the Conference Room, Moriyama wore a hollow expression and buried my face in both hands.

“It’s broken through 100 yen after all… it’s all over now.”

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This chapter was translated by Lunox Novels. To support us and help keep this series going, visit our website: LunoxScans.com
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