Next.

When Nao Nagano had nothing to do, he began to understand in depth what Iue Ryouta had said. Through newspapers and some memories, he was able to sort out a lot of useful things.

In 1984, the Ministry of Finance and the U.S. Treasury jointly established the "RB Dollar Yen Committee". Through this committee, the United States submitted multiple reports to Japan, provided all-round consultation, and guided the specific operations of financial opening.

This committee ultimately helped Japan promote the internationalization of the yen.

With the signing of the yen/dollar agreement, Japan's financial market opened up, mainly including interest rate marketization, allowing foreign financial institutions to enter the RB and money markets, promoting the internationalization of the yen, issuing international bonds, relaxing foreign exchange transactions, and relaxing restrictions on direct investment.

In April of the same year, Morgan Stanley established a Tokyo branch and was granted a securities business license; in December, the underwriting of Japanese yen bonds was opened to foreign institutions.

In 1996, the government issued a notice on the current situation and prospects of financial liberalization and internationalization of the Japanese yen.

With the relaxation of international capital controls, the cost of issuing bonds in overseas capital markets for local companies is lower than in China, and the scale of funds they obtain continues to expand. Under pressure from competition, the Ministry of Finance has been forced to abolish the corporate "suitability for bond issuance benchmark" and stipulate that any company can issue corporate bonds as long as it obtains a credit rating from a credit rating company.

In this context, the convenience of social financing conditions pushed up the overall social leverage ratio. In addition, Japan is the largest creditor of the United States. After the signing of the agreement, the yen exchange rate rose by more than 5% annually. A large amount of hot money poured into the stock market and real estate industry, bringing about a crazy rise.

In October 1988, the Ministry of Finance announced the implementation of a series of financial liberalization measures, including margin trading and securities lending, and Morgan Stanley was the first to be approved for margin trading and securities lending qualifications.

Last year, that is, in 1999, TOPIX futures and Nikkei225 futures were established, and both foreign and domestic institutions were allowed to enter the market.

Sort these things out.

Nagano Naoio roughly understood what Iue Ryouta meant by what he said.

Obviously, in the eyes of Wall Street, the TOPIX stock index futures of the Tokyo Stock Exchange and the Nikkei225 stock index futures of Osaka are both good short-selling tools.

But Wall Street miscalculated one important thing.

If they had the qualifications to lend securities in other countries, Wall Street investment banks could use securities lending to crash the market, and then profit from stock index futures and betting agreements.

But Japan is different.

Everyone knows that Japan is xenophobic, but it is extremely united when facing external forces, and its major financial groups have always been in solidarity, rising and falling together.

There are a limited number of stocks in the market, and as long as they unite to monopolize the market's chips, it is indeed impossible to short sell.

Short selling?

The chips are all in the hands of major life insurance companies, urban banks and financial groups. As long as they work together not to release them, no one can borrow chips from the market. It is basically impossible to have an impact on the market with those chips alone.

If that's the case, then Morgan and Solomon's deaths were not unjust.

Come here.

Combining this with the knowledge of the future, Nagano Nao understood why Goldman Sachs came up with another Nikkei put option.

No matter how strong a fortress is, it will always be torn apart from within. In such a market with absolute control, the only way to defeat the opponent is to create conflicts of internal interests.

Selling Nikkei put options to major insurance companies and central banks may seem like giving money away, but it actually sows the seeds of division.

Nao Nagano felt that he had vaguely grasped a clue. In this case, in the eyes of Ieho and Metropolitan Bank, Wall Street was probably just an image of a boy who gave away money.

However, Japan has been passively waiting for its prey to come to it, so we can come up with more radical methods.

For example, the representative company took the initiative to talk to Goldman Sachs.

Then let’s start by interning at Nippon Life Insurance!

the next day.

The day has come to go to Nippon Life Insurance for internship.

In the usual sense, internships in Japan are called trainees, which means cheap labor. They are usually workers from other countries and have basically no human rights to speak of.

They always do the dirtiest and heaviest work, but get the lowest pay.

Internships are for experiential purposes and usually only last for one or two days, and most of the time they just participate in discussions and the like.

Of course, there is no salary.

However, part-time work is an activity that starts in Japanese high school, so in order to retain outstanding talents, companies will offer bonuses to make up for the time lost by interns staying in the company.

Usually around 20,000 a day.

It seems that the company attaches great importance to Naoto Nao. The head of the company, Oda Kishimoto, seemed to have met him by chance and happened to come over and asked casually, "Have you thought about which department you would like to work in, Nagano-kun?"

Such a clever encounter could never be a coincidence.

Nao Nagano knew very well that the information he had conveyed during the interview, when combined into a code, would yield only one answer - the Planning Department.

Since Japanese Shengbao seems to think highly of me, there is no need for me to express my opinion.

"Nagano is willing to obey all arrangements made by the Minister."

Oda Kishimoto was very satisfied with this answer.

Most young people nowadays are a bit impolite, and he was a little worried that Nagano Nao would become arrogant because of his talent, so he came to see him specially. Since he knows the rules of the workplace well, there is no need to suppress or cultivate him deliberately.

"Nagano-kun's abilities seem to be enough for any department, but the Planning Department seems more suitable."

"Thank you very much, sir. I will trouble you to take care of me in the future."

"You're welcome, Nagano-kun. I've always liked people like you."

Just like that, the planning director Mitsuyoshi Minamoto came over and they got to know each other. Looking at Oda Kishimoto who was leaving, Nagano Nao felt that he seemed to have become smarter.

My emotional intelligence seems to be much higher than before.

The Planning Department has a total of twelve sections, with responsibilities divided according to different regions and business scopes.

Under the leadership of Minamoto Mitsuei, Nagano Nao introduced himself and bowed to everyone to ask for their attention.

There were more than twenty people present, and it took a long time to call their names, not to mention bowing. However, this step is essential if you want to survive in the workplace. After going through all the operations, Nagano Nao felt a little dizzy.

Honestly, this kind of politeness of bowing whether you understand it or not is hard to get used to.

But think about it, money is hard to earn and shit is hard to eat, so calling someone a senior and bowing to them is nothing.

Making money, eating shit is not too shabby! However, the section chiefs present were very surprised that an intern who had not yet graduated would appear in such an occasion. The implications of this made them nervous.

It was obvious that the guy with a scar on his mouth was being trained to be a section chief.

But according to workplace rules, one needs at least five years of experience to be qualified as a section chief.

How many years has it been since an intern came to participate in this level of internship? In fact, the last person who participated in a section chief-level seminar as an intern was the head of the headquarters, Oda Kishimoto.

The section chiefs present looked at each other.

Who is this guy? Could he be the illegitimate son of the president or the chairman?

(End of this chapter)