Tokyo, 1991: Starting as a bank clerk.

He took out the spreadsheet he had prepared the night before.

“My suggestion is to treat the entire €500 million as a corporate loan for Shiraishi Refrigeration Co., Ltd. This case should be split into a long-term corporate financing for Shiraishi Refrigeration and a bridge loan for Seiji Shiraishi’s personal equity.”

"First, 90 million was directly paid to Osaka Credit Bank, and on the same day, the first priority mortgage right was canceled, and Mitsubishi Bank set the first priority mortgage right for Dojima Cold Storage."

"Secondly, the funds involving Takao Shiraishi's 28% stake will not go through Shiraishi Refrigerator's account. Instead, they will be handled jointly by Mitsubishi Bank, Judicial Scrivener, Daiwa Securities Group, Takao Shiraishi himself, and President Seiji Shiraishi. The release of the pledge, the recognition of the share transfer, and the change of the company's owner register must be completed on the same day."

"Third, the full text of the 30 million loan agreement for the Kansai Urban Development must be obtained first. If there are any clauses regarding the right of first refusal, delegation of decision-making power, or high penalty clauses, they must be terminated before the funds are executed, and written proof must be obtained."

"Fourth, the shares acquired or secured by Seiji Shiraishi should be pledged or subject to a resolution restriction commitment by Mitsubishi Bank, and shall not be transferred to external developers at least during the repayment period of this financing."

"Fifth, Morikawa Sangyo, the employee stock ownership plan, and major hotel customers must provide written confirmation. The former must confirm that it will not cooperate with external capital's malicious control, and the latter must confirm that the transaction will continue on the premise that Shiraishi Refrigeration maintains stable operations."

After he finished speaking, the meeting room remained quiet.

After a moment, Iwakura slowly spoke:

"What if any of these cannot be done?"

Kiryu Yaya did not hesitate.

"Cease execution immediately."

"Even if Whitestone Refrigeration loses control as a result?"

"Yes."

Kiryu Yaya said:

"Banks can bear the risks that arise from their business decisions, but they cannot bear the risks of losing control of procedures."

Iwakura glanced at him for a few seconds.

A slight change finally appeared on that perpetually tense face:

"That sounds like something someone in a debt management course would say."

Kiryu Yaya bowed slightly but did not reply.

Matsumoto Takahiro finally put down his teacup.

He first looked at Kiyomasa Ogaki.

"Minister Ogaki."

Kiyomasa Ogaki slowly closed the folder.

He didn't answer immediately, but instead wiped his glasses with a handkerchief and said only one sentence:

"The specific risk assessment will be based on Section Chief Iwakura's opinion."

He paused.

"The financing department has no further comments."

Matsumoto Takahiro offered no comment, but instead turned to Iwakura Tsuyoshi.

"Section Chief Iwakura, are there any further objections?"

Iwakura did not answer immediately.

He went through the documents again and glanced at the execution conditions listed by Kiryu Yaya.

Finally, he placed the execution time backwards table on the table.

"The risks remain high."

He said.

"But if it is treated as a conditional closed-end financing, and the implementation is stopped if any one of the conditions is not met, I will no longer insist on opposing it."

Takahiro Matsumoto nodded.

Then he looked at both sides of the conference table.

No one spoke again.

Takahiro Matsumoto closed the folder:

"The joint financing proposal between Shiraishi Refrigeration and Shiraishi Seiji is approved in principle."

"The total exposure is within 500 million euros. Among them, the corporate long-term financing of 180 million euros for Shiraishi Refrigeration Co., Ltd. has a term of ten years. The bridge loan of 320 million euros for personal equity of Shiraishi Seiji has a term of eighteen months. The two financings are executed simultaneously and are mutually conditional upon termination."

"That's it, let's break up the meeting!"

Chapter 27 Meeting with the Shiraishi Brothers

"That's it, let's break up the meeting!"

Matsumoto Takahiro's voice fell.

The chair was gently pushed aside, followed by the sound of a folder closing.

When Iwakura stood up, she glanced at Kiryu Yaya.

"Kiryu-kun."

"Yes."

"Remember what you just said."

Tsuyoshi Iwakura tucked the folder under his arm, his tone cold and hard:

"Banks can bear the risks that arise from their business decisions, but they cannot bear the risks of losing control of procedures."

"If the case of Shiraishi Refrigeration goes wrong in the end due to procedural issues, the debt management department will not go easy on you just because you are a newcomer."

Kiryu Yaya bowed slightly.

“I will remember that, Section Chief Iwakura.”

Iwakura nodded and turned to leave the meeting room.

Kiyomasa Ogaki slowly stood up, picked up his teacup, and walked out, muttering to himself:

"These newcomers nowadays..."

It was impossible to tell whether his tone was one of感慨 (gǎnkǎi, a feeling of deep emotion) or 无奈 (wúnài, a feeling of helplessness).

After everyone left, only Matsumoto Takahiro, Yamada Masakazu, Chihaya Yuri, and Kiryu Yaya remained in the conference room.

Matsumoto Takahiro did not leave immediately.

He reopened the folder containing the white stone's refrigeration equipment, looked at the words "Urgent" in the upper right corner of the cover, and remained silent for a few seconds.

"Section Chief Yamada."

"Yes."

"The formal proposal should be finalized tonight. Have it on my desk by 9:00 AM tomorrow."

"clear."

"Chihaya, the section chief."

"Yes."

"Not a single condition for execution can be omitted. Especially Kuroda Shuichi's 30 million euro loan agreement. We must obtain the full text."

Chihaya Yuri nodded.

"I will confirm."

Matsumoto Takahiro looked at Kiryu Yaya one last time.

"Kiryu-kun."

"Yes."

"You can inform President Shiraishi."

Kiryu Yaya was slightly taken aback.

Logically, even if the financing review at this level is only an agreement in principle, the section chief or department head should personally contact the client.

But Takahiro Matsumoto did not explain.

Masakazu Yamada understood what the branch manager meant.

In the case of Shiraishi Refrigeration, from Miyazawa Keiko's introduction to Shiraishi Ayako's request in the corridor, and then to the supply chain debt analysis at the meeting just now, Kiryu Yaya is no longer just an ordinary assistant investigator.

In a sense, he had become the most trusted bank window for the Shiraishi family.

It would be most appropriate for him to make this call.

Kiryu Yaya stood up straight.

"clear."

Takahiro Matsumoto added:

"Pay attention to the wording. It's not a formal approval, but a conditional consent in principle."

"Yes."

Matsumoto Takahiro nodded, picked up the documents, and left.