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Chapter 202 - Chapter 199 — Cash Out

Late June, Sega Headquarters — President's Office

Behind the massive desk, Hayao Nakayama sat silently, a cigar unlit between his fingers. His eyes were fixed on two documents in front of him.

One was the investment report submitted by Sega's finance department.

The other — a top-secret document obtained through his private network from inside the Ministry of Finance.

Every number on the report, every leverage ratio, burned into his nerves like a branding iron.

And the names and faction connections listed in that confidential file — they confirmed everything his son Takuya had said in the study two weeks ago.

It wasn't a prediction.

It was a reality — one that would happen soon, though no one could say exactly when.

"Knock, knock."

"Come in."

Takuya Nakayama entered, holding a freshly prepared cup of hot tea.

He placed it gently beside his father, glanced at the papers, and asked calmly,

"Father, have the results come out?"

Hayao Nakayama lifted his head. His eyes held a complex expression — awe, fear, and immense pride.

"Takuya… everything you said was right."

His voice was slightly hoarse.

"The leverage is too high — so high that if the stock or real estate markets even pause for a moment, just the daily interest payments could crush us."

"And as for the central bank appointments — the leading candidate for the next governor, Yasushi Mieno, his policy stance is one of extreme monetary tightening."

Nakayama leaned back in his chair and exhaled a long, heavy breath.

"We're like blind men sprinting along a cliff's edge. And you're the only one who's opened his eyes."

Takuya's expression didn't change; it was as calm as ever — as if everything was under control.

"So," he said softly, "it's time for those still dreaming to feel a bit of the cold."

"The board — we'll show them what real risk looks like."

Hayao Nakayama's eyes regained their sharp, commanding glint. He picked up the phone and dialed his secretary.

"Inform all board members. A meeting next Friday."

---

One week later — Sega Boardroom.

All the company's core executives were present.

The air was thick with the aroma of coffee — and a faint, uneasy tension.

Takuya Nakayama sat beside his father, at the end of the table.

By now, his presence at such meetings no longer surprised anyone.

"The meeting will begin," Hayao Nakayama announced. His voice was steady, firm, and unquestionable.

He didn't waste time.

He immediately presented Tom Kalinske's North American expansion plan.

"The North American market has enormous potential," he said. "Konami's Teenage Mutant Ninja Turtles sold over a million copies in just one week — that's proof enough.

We must seize the initiative — acquire valuable IPs, attract top development studios. That will require substantial capital."

He paused, scanning the room.

"I propose that the asset management department immediately begin liquidating part of our stock and real estate holdings — to reclaim funds and fully support our overseas operations."

The words had barely left his mouth when Director Hoshino, who oversaw stock investments, spoke up almost instantly, a trace of mockery in his tone.

"President, did I hear that right? Cash out? Now?"

He exchanged a knowing glance with Director Sugiura, who managed real estate.

Sugiura cleared his throat and added,

"President, if I may speak frankly — in the past two years, our financial investments have earned more than our arcade division has in the last ten.

This is the era's blessing — a true gold mine! How can we abandon the goose that lays golden eggs, just for some uncertain North American plan?"

That last remark hit Director Takahashi, who oversaw the arcade business, right in the heart.

His face turned visibly dark.

Hoshino pressed on without mercy.

"Selling game cartridges barely makes a profit compared to the daily gains of the stock market! We should increase leverage, not shrink back in fear!"

The atmosphere in the room instantly turned explosive.

Takuya Nakayama watched coldly.

He knew these men were already numb — seduced by the illusion of prosperity brought by the bubble era.

To them, industry was the burden; financial speculation was the future.

Just then, Director Hattori, who had been silent all along, tapped the table gently.

"Hoshino-kun, Sugiura-kun — let's not get too emotional."

He motioned to his assistant, who projected a document onto the screen.

"This is a revised risk-return analysis I made based on the Bank of Japan's latest discount rate."

Sharp red numbers and plunging profit curves immediately caught everyone's attention.

"Please take a look," Hattori continued.

"Over 60% of our investment portfolio uses high leverage — and part of it comes from foreign banks.

If the yen depreciates, we'll face a double squeeze from both interest rates and exchange rates!"

"The most critical point — after the rate hike, our nominal returns have been cut in half!"

A wave of shocked gasps filled the room.

For the first time, even the previously neutral directors showed alarm.

Hoshino and Sugiura's faces turned grim — but they still refused to yield.

"Risk and reward go hand in hand!" Hoshino argued stubbornly.

"This is just a temporary correction — the market will adapt soon!

To cut off our arm over a little turbulence — that's cowardice!"

"Cowardice?"

Hayao Nakayama finally spoke.

His voice wasn't loud, but it struck like a hammer against every heart in the room.

He stood up slowly, his gaze sharp as an eagle's, fixed on Hoshino.

"I have some news," he said.

"Governor Toshihiko Sumita's term ends in half a year.

His successor has already been chosen — Yasushi Mieno."

"You may not know that name," Nakayama continued, his lips curling into a cold smile,

"but his faction, his ideology — their goal is to actively suppress speculative mania in the market."

"He believes Japan's current economy is nothing more than a reckless gamble — one that must end."

Boom!

The revelation hit like a bomb.

The entire room froze in stunned silence.

Hoshino and Sugiura turned pale, the blood draining from their faces.

They could question market analysis.

They could ignore risk charts.

But they could not defy the will of Japan's political elite.

This wasn't a market fluctuation.

It was an unavoidable political storm — one that was about to explode.

For a long moment, no one spoke.

Then Hayao Nakayama sat back down, his tone calm once more.

"I'll repeat myself.

Liquidate a portion of our high-risk assets. Reclaim our funds.

Who's in favor? Who's against?"

This time, no one dared to object.

Hoshino and Sugiura looked utterly defeated — drained of all strength.

They slumped in their chairs and nodded weakly.

"Start with the most leveraged ones," Sugiura muttered.

Nakayama gave them a brief glance — satisfied but restrained.

"Good."

He looked quietly at his son.

Throughout the meeting, Takuya had kept his head down, appearing to take notes.

But Hayao knew — this entire outcome had been orchestrated by his brilliant son.

The meeting ended.

But in Nakayama's heart, he knew — this was only the beginning.

A massive storm was approaching Japan.

Its monstrous shadow had already begun to show at the edge of the sky.

And Sega — must reach safe harbor before the storm struck.

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