Chapter 492: A Pillow for a Nap

Sitting at the head of the table, Shiba Seiichi observed the expressions of everyone present, casting a subtle glance at Watanabe Akihito before addressing the group: "What are your thoughts?"

"I think it's feasible. Even if we can't surpass the Sagami family's shareholding, holding 20% of the shares should be enough to restrain the Ichi Bridge Group. It might even be possible to split the Ichi Bridge Group," someone suggested.

"Exactly. Given the current situation, acquiring shares of the Ichi Bridge Group is feasible. During normal times, even if we had the funds, others might not sell their shares, so we must seize this opportunity."

"But we can't be certain how far the Ichi Bridge Group's stock price will drop. The Sagami family will definitely increase their stake to maintain control over the group. We must act before they do, or if they increase their stake to 51%, holding 49% will be useless!"

"The normal market value of the Ichi Bridge Group is over 80 billion yen, which is 20 billion yen higher than our company. Even if the stock price plummets, acquiring the shares would require full funding. Combining funds with stock mergers is unlikely to succeed. Where will we get the funds?"

...

The group engaged in a heated discussion, mostly agreeing with the plan, though some raised concerns.

Despite the board's discussions, Shiba Seiichi remained neutral, listening intently and formulating a general outline in his mind.

"Clap, clap!"

"Alright, everyone quiet down!"

Shiba Seiichi clapped his hands, and everyone immediately fell silent, turning their attention to him.

"I understand everyone's stance. Regarding Watanabe-kun's proposal, it is deemed feasible. So, let's proceed with acquiring the shares of the Ichi Bridge Group. Ideally, we should become the largest shareholder. If that's not possible, we must at least become a significant shareholder to counterbalance the Sagami family."

After Shiba Seiichi's statement, everyone nodded in agreement.

"Now let's discuss how to execute this plan!"

"The concerns you raised need to be addressed one by one. The first issue is funding."

"Currently, the group only has 2.84 billion yen in liquid assets. We need to retain at least 1 billion yen to keep the group operating normally. This leaves only 1.84 billion yen available, which is far from sufficient. Therefore, we must raise funds!"

After Shiba Seiichi's announcement, a board member immediately suggested: "Let's get a bank loan!"

Upon hearing this, Watanabe Akihito countered sharply: "The group's debt has already reached 42 billion yen, with a debt ratio over 68%. Even if we can secure a loan, it would only be about 10 billion yen, which is insufficient!"

The board member who had proposed the loan was stunned and fell silent.

Other board members exchanged looks, showing signs of concern, and no one spoke up.

Watanabe Akihito's message was clear: Since a bank loan was not an option, they would have to issue new shares to raise funds. If the board members didn't want their shares diluted, they would need to contribute a large sum of money.

However, each board member had other ventures. To suddenly contribute such a large amount of money would be a significant challenge and stress, impacting their other businesses. This caused hesitation among them.

The atmosphere in the meeting room grew tense and quiet.

Shiba Seiichi scanned the faces of the attendees with a neutral expression, finally focusing on Watanabe Akihito. Since this proposal came from him, it was natural for him to give his stance.

Watanabe Akihito met Shiba Seiichi's gaze, smiling淡然 and said loudly to everyone: "I understand that it's challenging to come up with a large amount of funds suddenly. How about this: we issue new shares to raise 10 billion yen, and then use bank leverage to acquire the stock. This way, the pressure on everyone will be reduced. What do you think?"

"This method is quite good. The pressure will be much lower. For my share, it's just over 2 billion yen. If you contribute less, I can contribute more," one board member responded positively.

Shiba Seiichi, hearing this, quickly made a decision and subtly indicated his stance.

Several board members, whose shares were lower and barely attended the meeting, changed their expressions. If they didn't participate in the new share issuance, their shares would drop below 5% after recalculation, resulting in the loss of their board seats. This was unacceptable.

Thus, these board members quickly agreed.

"I have no objections. I'll contribute according to the proportion."

"Though there's some pressure, it's only 5 or 6 billion yen. I can manage."

"I agree to contribute!"

"Good!" 

Shiba Seiichi smiled and nodded, then looked at the other board members who had yet to speak.

Since most agreed and the temptation of acquiring the Ichi Bridge Group was significant, despite the pressure, the remaining board members also consented.

"I have no objections…"

...

After a round of statements, everyone agreed. Shiba Seiichi showed a satisfied smile and said: "The situation is urgent, so you have two days to prepare the funds. The group will apply to the Securities and Exchange Commission for the private issuance of new shares."

"Watanabe-kun, you'll need to contact the bank!"

"Certainly!"

Watanabe Akihito responded without hesitation.

"Hmm!"

"Now that the fundraising issue is resolved, we need to focus on the share acquisition. We should find a securities firm with strong capabilities to acquire more shares before the Sagami family increases their stake…"

...

The board meeting of the Otowa Group continued until 11 p.m., meticulously laying out the plans, dividing tasks, and setting deadlines.

As for the Jiu Ding Animation Company, no one mentioned how to deal with it.

After all, although Jiu Ding Animation was a significant threat in the manga industry, with the weekly circulation of *Zhi Yin Man Ke* approaching that of Kodansha's *Weekly Shōnen Magazine*, it was still just one manga.

The Otowa Group's business scope covered the entire publishing industry, and manga was only a part of it.

Moreover, even though Jiu Ding Animation posed a threat, it hadn't surpassed them yet. The Ichi Bridge Group, which had been suppressed for so many years, was the primary focus.

As for the Ichi Bridge Group's talk about national righteousness and the face of island nation manga, what was that? Was it more important than tangible benefits?

As long as their plan succeeded, the Ichi Bridge Group would be under their control, and Jiu Ding Animation was insignificant!

With the plan in place, the Otowa Group, the leading publisher in the island nation, sprang into action.

In the following days, Jiu Ding Securities was monitoring the Ichi Bridge Group's stock price meticulously.

A batch of stocks had already been sold at high prices, but the Ichi Bridge Group's stock price began to drop.

Although there was still a substantial amount of stock on hand, Wang Qi remained calm. These stocks were ammunition to lower the stock price, so they would not be sold when the price hit the lowest point.

As for the buyers?

After several internal simulations, Wang Qi was confident. The real concern was how to buy back the stock at a low price, which was the key.

A few days later, while Wang Qi was pondering, a subtle piece of news made him perk up.

The Otowa Group was raising 10 billion yen through a private issuance of new shares!

At this critical moment, the Otowa Group's action as the second-largest publisher in the island nation was undeniably eye-catching.

Wang Qi, being astute, immediately understood the Otowa Group's intentions and couldn't help but laugh heartily.

"Just as they wanted a nap, we brought them a pillow. Good! Haha!"