"A joint investment? How would we split the shares?"
Hearing that, Lin Baicheng's eyes lit up. If he could make use of Iwasaki Mineryu's connections, he wouldn't mind partnering with him — especially if it meant entering Japan's real estate market and making a fortune when the bubble economy hit.
Sure, Iwasaki would also make a huge profit, but that was fine. If the man's good luck and sharp eye helped too, Lin didn't care — as long as he made his share.
However, any cooperation had to be on his terms. If his share was too small — to the point of working under Iwasaki like an employee — then it wasn't worth it. He'd rather earn nothing than watch piles of money pass through his hands only to end up in someone else's pocket.
"We each contribute half the capital," Iwasaki said. "But as for company ownership, you can hold 51%, Mr. Lin. The company will be under your management."
Whether he was betting on Lin's luck or his insight, Iwasaki's goal was to make money alongside him, so he proposed an equal partnership.
This time, however, Lin didn't agree right away.
"Mr. Iwasaki," Lin said with mild curiosity, "may I ask why? This is our first meeting. I'm just a secondary school graduate, and I'm quite young. Why do you trust me so much — enough to not only partner with me, but even let me take charge of the company?"
"Well, it's like this," Iwasaki said frankly. He wanted to profit with Lin, not trick him, so he spoke openly. "You're young, yet in less than a year you've made hundreds of millions of dollars. I believe that's not just vision — that's luck of a rare kind. I want to work with someone like that, to share in that success."
"I see…" Lin nodded slightly. Then he added, "I've said I'm optimistic about real estate. The company we'd form would enter that field. Now that you know this, you could easily go it alone instead of working with me."
Iwasaki immediately shook his head.
"Mr. Lin, this would only be our first partnership. There could be many more in the future. Why would I spoil that by acting selfishly now?"
"Aren't you afraid you might be wrong about me?" Lin pressed with a faint smile. "That instead of profit, you might end up losing a lot of money?"
He couldn't quite understand Iwasaki's confidence — it all seemed a little impulsive. Didn't the man worry he might just be chasing a shooting star?
"Mr. Lin," Iwasaki said calmly, "we're both investing. If I lose money, you'll lose just as much. And yes, I am concerned about that possibility, so for this first project, I won't be putting in too much capital."
That was honest enough — and smart. He wasn't reckless; he just wanted to test whether Lin's luck (or skill) was real.
"That's how it should be," Lin said, nodding approvingly. For someone of Iwasaki's background, a small initial investment would hardly make a dent — well within his tolerance even if it failed.
"As for your proposal," Lin continued, "I'm very interested. So, Mr. Iwasaki, how much do you think we should invest in this first venture?"
Iwasaki raised his right hand.
"How about 50 million U.S. dollars? What do you think?"
"Twenty-five million each?" Lin asked. "Sure — I have no problem with that."
He agreed almost instantly. Around two hundred million Hong Kong dollars per person — not a huge sum for either of them.
"Ah— well…" Iwasaki froze for a moment. "Right, excellent! To a successful partnership!"
He was momentarily speechless. He had actually meant a total of 50 million — 25 million each — and had thought even that was quite a lot. After all, he still wasn't sure whether Lin's wealth came from genuine talent or sheer luck. He hadn't planned to risk too much — yet Lin had immediately doubled the amount without hesitation.
Still, Iwasaki couldn't back down now. His pride — both personal and familial — wouldn't allow it. How could a member of the Iwasaki family balk at a sum that a man who'd only been rich for a year could confidently commit? Saying it was "too much" would make him look ridiculous.
So, even if it meant taking on more risk, he had to maintain face.
"Mr. Iwasaki, to a pleasant partnership!"
Lin raised his glass with a grin. With an initial fund of $100 million, by the late 1980s that money could multiply dozens or even hundreds of times over. With 51% ownership, his share alone would mean several billion U.S. dollars in profit — though he'd have to wait nearly a decade to see it.
"By the way," Lin said, "as you know, I'm currently arranging a loan from Mitsubishi Bank. That money already has a purpose, so I can't immediately free up my share of this investment. Would it be alright if I contribute after a short delay?"
Iwasaki nodded slightly.
"How long do you think you'll need, Mr. Lin?"
"It's hard to say exactly, but I can promise it won't exceed six months," Lin replied. Everything depended on whether his acquisition of Wharf Holdings succeeded — and at what cost.
"In that case," Iwasaki said with a smile, "if you don't mind, I can lend a hand."
He leaned forward slightly.
"Regarding your loan using Galaxy Games stock as collateral — the bank believes your profit numbers may have been inflated. Their assessment is that your real profit last year was around $100 million. Given the uncertainty, they applied a standard P/E ratio of 10, valuing your company at $1 billion, and approving a $200 million loan."
"However," he added with a hint of pride, "if you're interested in borrowing more, I can use my connections to have the bank approve $250 million instead."
He phrased it as though he'd be doing Lin a favor, but in truth, such an adjustment was well within his authority. He just wanted Lin to owe him a little goodwill.
"Then I'll thank you in advance, Mr. Iwasaki," Lin said after a brief pause. An extra $50 million meant a bit more interest to pay — but it was well worth it for the opportunity to generate even higher profits.
"Think nothing of it," Iwasaki said with a smile. "We're partners now — it's only right to help each other."
"I won't let you down," Lin replied, smiling back. He knew exactly why Iwasaki wanted to cooperate — and why he was being so helpful. The man believed Lin could make him rich. And Lin would make sure of it — after all, his own money was on the line too.
After dinner, Iwasaki suggested they go out for some fun, but Lin politely declined, using the excuse that he'd been exhausted from flying in that afternoon.