v3 Chapter 1249： Mingxiu Plank Road Darkness Chen Cang (1/2)

Latest website: Nippon Steel is one of the core pillars of the Mitsui Consortium, and because of the special properties of steel, this company can be said to be extremely important.

The size of a company is actually the embodiment of its overall strength, which includes the technical level.

The current pattern of the steel industry in the island countries is a pattern of one superpower and multiple powers.

One Super is Nippon Steel, which is proud of the crowd.

Duoqiang is a number of large steel companies such as Island Steel, Sumitomo Metal Industries, Kawasaki Steel, Kobe Steel, etc. These companies are all at the same level, and their turnover is between 1 trillion yen and 15,000 yen. Between 100 million yen.

However, compared with Nippon Steel, which has a turnover of more than three trillion yen, it is not as much as half of it.

This time it was the Mitsui Consortium that caused trouble to Xia Yu's acquisition plan.

If Mitsui Securities did not appear, with the Torii family’s shareholding ratio, according to the original plan of Jiuding Securities, it would be easy to win it, and the cost would not be high.

The funds spent now are enough to buy more than double the shares now!

On the Tiangong Motor Group, a company headed by the Toyota Motor Group, which is also a subsidiary of the Mitsui Consortium, took the lead in the blockade, and Nippon Steel took the lead.

Therefore, this time the contradiction is directly aimed at Nippon Steel, which is definitely not wronged!

The Mitsui Consortium is only, although the overall strength is stronger than Xia Yu.

But Xia Yu did not dare to fight it!

...

However, sniping on Nippon Steel, in addition to serving the purpose of disguising the Mingxiu plank road, one of the real purposes is to extortion and make money. If you really want to acquire it absolutely, it is very difficult for now!

Therefore, for the sake of his own steel field layout, Xia Yu prepared to keep secrets, and what really screened out were three other goals.

Tokyo Steel Corporation, Sanyo Special Steel Corporation and Nisshin Steel Corporation!

Tokyo Steel Corporation, which is a company founded in 1924 and headquartered in Tokyo.

As of last year, Tokyo Steel has 4,722 employees and 2.02% of total crude steel output in the island country. The company has sales of 189.33 billion yen and net profit of 2.63 billion yen.

This is a relatively independent steel company that has not joined any of the six major consortia. Because of multiple mergers and mergers in history, the Tokyo Steel Corporation has many shareholder factions. In addition, the government has failed in the past two decades. As a result, the island countries have serious overcapacity of steel production, so the competition is fierce.

Any of the six consortiums has overcapacity and high sales pressure, so Tokyo Steel, which proudly wanted to remain independent before, even if it wanted to be merged into the six consortiums, none of the consortiums could be appreciated. .

Without the background of the six major consortia and no powerful general trading company to help with sales, Tokyo Steel has a difficult business operation. This can be seen from the net profit margin of only 1.39%.

At present, the total assets of Tokyo Steel Corporation are 240.91 billion yen, the liabilities are 179.4 billion yen, the net assets are 61.51 billion yen, and the debt ratio is 74.47%. The company has been listed, but the market value is less than 60 billion yen. 52.36 billion yen, 19.9 times earnings.

This price-to-earnings ratio is very high in the capital market where the price-to-earnings ratio of island countries is generally only a dozen times.

It stands to reason that the steel industry is now a sluggish industry, and it is very abnormal to have such a high P/E ratio.

However, a closer observation reveals that the reason why it has such a high price-earnings ratio is due to the net assets of Tokyo Steel Corporation, which is now higher than its market value.

However, net assets are very important and not important. The key depends on the mentality of the investor.

For large consortia, if you have money, you don’t need to buy a company with such a low profit margin. You can’t win even if you run bank interest. In fact, you will lose money if you buy it. Even if you don’t lose the assets of Tokyo Steel, you will lose yourself Assets, so it is just a tasteless or burden.

For ordinary investors, such a low profit margin is still such a depressed industry, with few dividends and low upside potential, and there is no need to buy it.

So it is only natural that Tokyo Steel's market value is so low.

The second, Sanyo Special Steel Co., Ltd., was established in 1935. This is a specialized company producing special steel. Headquartered in Himeji City, southwest of Hyogo Prefecture, it was founded in November 1933. Sanyo Steel Co., Ltd. was established in 1935 and began to produce bearing steel. It was renamed Sanyo Special Steel Co., Ltd. in 1959.