The meeting for the loan, which was originally scheduled for the morning, had been moved to the afternoon by Mitsubishi Bank. The change came because Iwasaki Mineryu had intervened to increase the amount of funding for Lin Baicheng — something that couldn't simply be approved on a verbal request. Mitsubishi Bank had its own strict internal processes.
That afternoon, Lin Baicheng arrived at the bank accompanied by Haruko Mouri and his lawyer to sign the official loan contract.
After including the additional 50 million USD that Iwasaki had arranged, the total loan from Mitsubishi Bank amounted to 250 million USD instead of the original 200 million. Converted into Hong Kong dollars, that was roughly 1.05 billion HKD, only slightly short of Lin's original target of 1 billion HKD.
Satisfied with the sum, and eager to get moving, Lin didn't bother haggling further. He mortgaged 20% of his shares in Galaxy Games to secure the 250 million USD loan.
The loan term was three years, and the interest rate was a modest 8.5%, lower than Goldman Sachs's rate. Though a mere 0.5% difference might seem small, over three years it added up — 1.5% of 250 million USD meant 3.75 million USD in interest, or around 15 million HKD — all of which Lin intended to use toward his next big acquisition: Wheelock & Co.
Of the loan, 50 million USD would go into his joint venture with Iwasaki, while the remaining 840 million HKD would be his to use freely. Combined with 300 million HKD from Standard Chartered, 100 million HKD raised from the sale of Hutchison Whampoa shares, and his own holdings of 8.5 million shares (nearly 10%), Lin now had the capital to launch his takeover bid.
Wheelock's current market value hovered around 1.1 billion HKD. Lin only needed to acquire half the shares to take control. Barring major surprises, his war chest was now sufficient to pull it off.
After signing the contract, Lin immediately contacted Cheng Yufeng in Hong Kong, instructing him to begin discreetly purchasing Wheelock's stock from institutional shareholders — even if it meant paying a premium.
Rather than flying back to Hong Kong right away, Lin decided to remain in Tokyo for the night. That evening, he invited Iwasaki out to dinner.
This time, he brought along Haruko Mouri, while Iwasaki came alone.
"Iwasaki-kun, this is my assistant Haruko. You've met her before, so I suppose introductions aren't necessary."
"Of course, Lin-kun. You've found yourself quite an excellent assistant," Iwasaki said with a warm smile. Their relationship had grown more cordial now that they were business partners.
"Deputy Director Iwasaki," Haruko said respectfully, bowing deeply. Though she had studied abroad in the U.S. for two years, her Japanese upbringing hadn't faded. In Japan, bowing to one's superiors was still second nature.
Once seated, the three began eating and chatting — though it was mostly Lin and Iwasaki conversing, while Haruko quietly listened, occasionally pouring drinks for them.
"Iwasaki-kun, regarding our new company, I plan to hire an experienced property development manager to oversee operations. Haruko will supervise things here in Japan, while I'll provide strategic direction and make major decisions. What do you think?"
"That's how it should be," Iwasaki agreed readily. "As long as you handle the overall direction, the day-to-day affairs can be left to the professionals."
Lin nodded and turned to Haruko. "Haruko, note this down. Tomorrow, contact a headhunting firm and have them find several candidates. If I have time, I'll come over for interviews. If not, bring them to Hong Kong."
"Understood, Chairman," she replied.
"Tokyo and Hong Kong aren't far — just a four or five-hour flight. If any of them can't even make that trip for an interview, replace them. As long as the salary is right, we'll attract capable people. Besides, I'm not looking for visionaries — just strong executors who can carry out my strategic plans."
No one understood Japan's coming real-estate boom better than Lin. He didn't need another visionary — he needed people who could execute.
Haruko nodded firmly, taking notes.
Then Lin turned back to Iwasaki. "Iwasaki-kun, regarding the company's development, I'll have the final say, correct?"
"As long as your decisions don't cause significant financial losses, I won't interfere," Iwasaki replied. After all, he had invested 50 million USD — he couldn't stay completely hands-off. But unless Lin made major blunders, he'd allow him full control.
Lin smiled slightly. "And if I want to take on a riskier investment?"
"Oh? What kind of risk?"
"We've each invested 50 million USD, giving the company 100 million in assets. In property development, we can always leverage loans from banks — so we won't need all that cash immediately. Leaving it idle seems wasteful. I'm considering putting 20 million USD into the financial markets — specifically, long positions in gold futures."
Money sitting idle was money wasted, Lin thought. Half of that capital was his anyway. If not for worrying that Iwasaki might object, he'd have gone all-in — perhaps even investing 50 million USD or more.
Iwasaki frowned slightly. "Lin-kun, the futures market is volatile, and neither of us are experts. Isn't this a bit too risky?"
Lin shrugged lightly. "If you think it's too risky, then forget it."
Though disappointed, he wasn't offended. After all, this was a joint company. Even if Lin was in charge, they still had to act in agreement. And besides, he couldn't afford to alienate Iwasaki — not when his real-estate plans in Japan depended on him.
After a short pause, Iwasaki said, "The futures market is indeed risky... but since you're confident, let's invest 10 million USD — just as a gesture. What do you think?"
It was a compromise — half to maintain face, half to test Lin's judgment. Even if the investment failed, he'd only lose 5 million USD — an acceptable risk.
Lin smiled. "Good. Then we'll invest 10 million USD."
It wasn't much, but it was enough to start. And Lin already had plans to use leverage — turning that 10 million into a far larger position. After all, with futures, the more you put in, the more you could make.
And Lin Baicheng had no intention of walking away with small gains.