Golden Spoon Investment Portfolio - Chapter 438

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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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438. We certainly speak the same language

Haneda International Airport, Tokyo, Japan.
A Gulfstream IV private jet, its fuselage painted in a two-tone scheme of Naval Blue and Crystal White, glided slowly into the expansive parking lot and came to a halt.
As the door opened moments later, Seok-won emerged, dressed in a cashmere coat and Ray-Ban sunglasses.
Han Ji-sung and Bodyguard Bockus followed closely behind him as he descended the stairs.
John Porter, the Japan Branch Director of John Porter Eldorado Fund, who had come to greet him, flashed a bright smile and approached with a respectful bow.

“Welcome, sir.”

Porter’s demeanor toward Seok-won radiated both reverence and profound trust.
Seok-won gave a light nod and extended one hand as he spoke.

“We’ve spoken frequently on the phone, but it’s been a while since we’ve met in person.”

The two men exchanged a brief handshake and made their way toward the waiting Mercedes sedan.
As I settled into the rear seat alongside Porter, the soft leather upholstery enveloped my body in comfort.
Shortly after, the Mercedes sedan carrying Seok-won glided smoothly out of the parking lot, accompanied by a Toyota SUV laden with luggage.
Once we entered the road leading into central Tokyo, I turned to Porter beside me and asked.

“Did the contract with Mitsubishi conclude smoothly?”
“Yes. As I reported, we acquired all of Mitsubishi’s ownership stake in Rockefeller Center for 900 million dollars.”
“If my memory serves, Mitsubishi paid 1.5 billion dollars when they purchased Rockefeller Center, didn’t they?”
“That’s correct.”
“So they’ve held it for over a decade and lost 600 million dollars.”

Porter shrugged and continued.

“When you factor in the accumulated deficits from the sluggish real estate market over the past few years, the losses are far greater. Moreover, though we purchased it for 900 million dollars, most of that payment was made in bulk sale bonds rather than cash, so Mitsubishi received almost no liquid funds from selling Rockefeller Center. In essence, they’ve lost the entire 1.5 billion dollars they invested.”

Watching Porter’s slight smirk, I smiled as well.

“That must sting considerably.”
“Still, they may consider themselves fortunate to have disposed of it this way rather than continuing to shoulder the mounting losses.”
“That’s certainly possible.”

Not long after, when the dotcom bubble burst and the American real estate market entered a golden age, I would see the value of Rockefeller Center—which I’d carelessly handed over like a bad debt—skyrocket, and the regret would be so overwhelming that I’d clutch the back of my neck and nearly collapse.

“Ah, and we’ve reached a final agreement with Speed Retailing to convert all our bonds into equity.”
“That’s excellent news.”

Seok-won asked with evident satisfaction.

“How much equity did we secure?”
“Fifteen percent.”
“We’ve acquired more equity than we initially expected.”

Porter then responded with a self-satisfied expression.

“Speed Retailing happened to be in a tight financial position, preparing an ambitious new product launch. We capitalized on that and managed to secure the maximum equity possible.”

Seok-won’s interest was piqued by a word that slipped into the conversation.

“A new product launch, you say?”
“Yes. I only learned about it this time—apparently they’re planning to manufacture and sell fleece under their own brand.”
“I see.”

Unlike Seok-won, whose eyes gleamed with interest, Porter let out a dismissive snort.

“The CEO there is so boastful—he claims their goal is to sell two million fleece units in a year.”
“That’s not entirely impossible, is it?”

Porter shook his head as if the idea were absurd.

“In the apparel industry, selling hundreds of thousands of units is already extraordinary, and exceeding a million units makes it a hit product for that year. But this is just a regional company in Osaka, Kansai Region—not even a famous brand—and they’re talking about two million units? It’s utterly preposterous.”

Given what Porter said, it was indeed an unrealistic sales target unless the product became a massive blockbuster hit.
But Seok-won thought otherwise.
Wasn’t it fleece that had transformed Uniqlo—a regional Japanese small and medium enterprise—into a global fashion brand?

‘If my memory serves me right, next year they’ll actually sell two million units, and two years after that, they’ll achieve a mega-hit with 26 million units sold.’

Over three years, more than 30 million units were sold in Japan alone—it had truly become a national staple.
Thanks to this, Uniqlo transcended its regional origins and rose to become a nationwide brand, though still limited to Japan at that time.

‘And it didn’t stop there—the success of Fleece allowed them to solidify their position as a company that designed and sold their own clothing lines.’

So it wasn’t an overstatement to call the Fleece launch the catalyst for Uniqlo’s explosive growth.
Conversely, this moment represented the last chance to buy stock at rock-bottom prices.
Having thought this through, Seok-won asked immediately.

“Speed Retailing is listed on the stock exchange, correct?”
“Yes. It’s currently trading on the second section of the Tokyo Stock Exchange.”
“Then let’s increase our holdings through additional purchases—bring our stake in Speed Retailing up to 20%.”

Porter asked with a puzzled expression.

“Our stake is already substantial. Are you saying we should acquire more?”
“Yes.”

Porter studied my expression carefully before asking once more, choosing his words with caution.

“Are you perhaps planning to acquire Speed Retailing?”
“No. If we leave it alone, the company will grow on its own and generate profits for us. Why would we needlessly cut open the belly of the goose that lays golden eggs?”

I shook my head without the slightest hesitation, and Porter’s expression grew even more bewildered.

“Isn’t the company too small to be called a goose that lays golden eggs?”
“It is now, but who knows what the future holds?”

Seok-won answered with a faint smile.
Porter found himself harboring even deeper doubts as I spoke with such certainty about Speed Retailing’s growth potential.
No matter how he thought about it, he couldn’t convince himself that the company warranted this level of attention.
But these were the words of Seok-won, the man Wall Street called the Midas Touch—he couldn’t simply dismiss them.
Moreover, considering the scale of capital the Eldorado Fund’s Japan division managed, acquiring an additional 5% stake in Speed Retailing wasn’t an enormous expenditure, so Porter decided not to deliberate further and simply follow the directive.

“I’ll handle it as instructed.”
“Ah, and to prevent any misunderstandings, inform President Yamashita Kazuhiro in advance about the stake acquisition and make it clear that this is purely an investment.”
“I’ll do that.”

There was no benefit in arousing the suspicions of Yamashita Kazuhiro, the president, if we were to work together for years to come and siphon profits from Uniqlo as it grew into the world’s largest apparel company.

‘Twenty years from now, Uniqlo’s market capitalization would surpass 10 trillion 872.5 billion yen—exceeding 114 trillion won in Korean currency.’

If I held the stock until then, my equity value would grow to 22.8 trillion won.
On top of that, the dividends I’d receive during that time would be quite substantial.
Leaning back against the leather seat, Seok-won gazed at the scenery streaming past the car window, a smile playing at his lips as he contemplated the profits he’d earn through Uniqlo.

* * *

Eldorado Fund Headquarters, New York, USA.
Landon Shore looked up from the documents he’d been reviewing at his spacious desk when he heard a knock.
Andrew entered, dressed in a blue dress shirt with his customary suspenders and gold-rimmed glasses, and Landon rose to greet him.

“Welcome.”
“I heard you attended the book launch event at the Metropolitan Museum of Art this morning.”
“I went to make an impression on Congressman Kevin Steed, who’s a strong contender for the next Senate Majority Leader.”

As he spoke, Landon gestured with his chin toward a rather thick hardcover book placed on one side of his desk.

“It’s an autobiography with his personal signature. Feel free to take it if you’d like.”
“It looks tedious, so I’ll have to decline.”
“A wise choice.”

Landon chuckled softly and moved to the sofa, with Andrew following suit and settling into the seat across from him.

“I heard Chairman William Parker Citicorp also attended the book launch. Did you meet him?”
“Yes.”

Landon nodded slightly, leaning back against the sofa’s armrest.

“Did you notice anything unusual?”
“I deliberately struck up a conversation and probed carefully, but whether he’s a skilled actor or I’m just dull, he didn’t seem to be in the middle of any merger at all.”

Andrew’s expression grew troubled, and he hesitated before voicing his concern.

“Surely the deal with Travelers isn’t completely stalled, is it?”

After all, they’d wagered a billion dollars on the premise that Citicorp and Travelers would merge, and if the prediction proved wrong, the losses would be substantial.

“Since the boss’s predictions have never been wrong so far, let’s wait a bit longer.”

Since Andrew had already committed all his bets, there was no backing out now. He smacked his lips and nodded his head in agreement.
Landon Shore adjusted his posture and spoke to Andrew.

“I told you to call Jane because I want to establish positions in Nations Bank and Bank of America as well.”
“…!”

Andrew’s eyes widened in disbelief as he asked.

“You’re not asking me to take long positions again, are you?”

Landon Shore shrugged as if to say why not.

“That’s right. Just like last time, place a one-billion-dollar bet.”
“I understand about Citicorp and Travelers, but those two banks you just mentioned attempted a merger about three years ago that fell through, so the likelihood of them negotiating again is quite low.”

Andrew pushed his gold-rimmed glasses up and responded with skepticism.

“I thought the same thing, but after hearing what the boss said, I started to think the probability isn’t entirely zero.”
“What exactly did he say to make you think that?”

Andrew leaned forward with curiosity.

“If Citicorp and Travelers Group merge as expected, won’t that create the world’s largest financial institution?”

A sudden realization struck Andrew, and his eyes widened.

“Are you saying that the emergence of a financial giant will trigger other banks to react and initiate a chain of mergers?”
“Exactly. He said that to avoid falling behind in competition, banks will scramble to expand their size for survival.”

Landon Shore nodded with a serious expression.
Andrew mulled over the explanation and soon murmured as if convinced.

“True—when the board shifts, others will struggle not to be consumed. It doesn’t sound entirely impossible.”
“If the boss’s prediction proves correct, the banking sector will be quite interesting for a while. And that means a major opportunity to make serious money.”

Andrew’s eyes gleamed, and he quickly responded.

“I understand what you’re saying. Let me draw up a list of banks with merger potential.”
“You really do understand me well.”

Landon Shore flashed a knowing smile, his eyes meeting Andrew’s.
Both men demonstrated their competence by going beyond merely executing Seok-won’s directives—they actively sought ways to maximize profits.

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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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