[Fiction] Kuroda Manufacturing Story Episode 13: Financing

The chime announcing the start of the afternoon shift rang through the office of the Tamura Branch of Seihou Bank. Suzuki, the loan section manager, opened his eyes, moved his mouse to wake his computer from sleep mode, and as he entered his login password, Branch Manager Tsukahara called out to him, "Manager Suzuki, could you come here for a moment?"
Although he held the title of loan section manager, he had no subordinates. He was simply entrusted with the title of "manager" as a matter of appearance for customers. And while it was a fragile structure with only the branch manager as his superior, Suzuki found his work rewarding because, in most cases, he was allowed to handle loans at his own discretion. Branch Manager Tsukahara, who had newly arrived in April, had also just silently stamped his approvals for the past month and a half.
(Don't tell me the proposal I sent over first thing this morning has been sitting there until noon, and now he's going to reject it?)
He clicked his tongue in his heart and stood before Tsukahara. Tsukahara's face was stern.
"How many years have you been with the bank? I can't believe you calmly submitted a proposal like this without any explanation."
"This is my eighth year with the bank."
(What is it? Does he dislike that the business plan outlook is too optimistic, or that the interest rate is too low, or that the loan terms are too lenient? But I want to get this loan approved no matter what.)
"Eighth year, huh. Well, I suppose that can't be helped."
Although Tsukahara did not sigh, he did not try to hide his disappointment as he looked down at the proposal.
(Is he saying my screening is lax due to lack of experience? Even so, I have the highest number of closed deals among my peers, and I have never had a case that resulted in a loss. I've been through enough situations to be well-trained.)
"If revisions are necessary, I will discuss them with the client."
(If it were the previous branch manager, Mr. Nakamura, he would have approved it without all this trouble. It's a difficult time for reconstruction, and they had to send us such a troublesome branch manager.)
"You look dissatisfied. The loan manager of the Tamura branch seems to think quite highly of himself. To submit a proposal like this without prior consultation and expect me to just silently approve it."
Since neither of them was trying to hide their dissatisfaction with the other, the tense atmosphere between the two increased the tension among the surrounding staff.
"I have no dissatisfaction. I am ashamed of my own inadequacy, and I apologize. It was customary at this branch not to provide prior explanations, so I did the same this time. I will consult with you in the future."
He responded with a polite but cold attitude.
"I won't say that prior consultation is always necessary, but I would have liked to have been consulted on this loan. Due to the impact of the Great East Japan Earthquake, the business outlook for the next year is at rock bottom, the lowest in history, yet they are building a new factory. Moreover, the construction costs are fully financed, and at almost the most favorable interest rate. Do you think such a proposal would pass at a time like this? That said, eight years at the bank, it can't be helped. I'm not denying your ability."
Tsukahara placed the proposal he was holding onto the desk with a thud.
"I admit that I lack experience, and I apologize. As you said, Branch Manager, the current business outlook is at rock bottom, and the prospects for profit improvement are not clear. However, I believe it is the duty of a local bank to support local companies that continue to operate and strive to protect jobs even after being hit by the Great East Japan Earthquake. I will discuss conditions such as interest rates with the client, but could you please consider the loan positively? (For the sake of the client, I will speak my mind.)"
Suzuki calmed down a little and was conscious of being polite.
"The duty of a bank, huh? You seem to have quite noble opinions, but doesn't that require knowledge to match? Are you studying properly?"
Tsukahara did not try to change his provocative and sarcastic attitude.
"If the branch manager says I am lacking in study, I have no words to return."
"Well, that's why I'm here, to make up for those things. Now, before you send this loan to the screening department, can you confirm two things with the client? One is the construction schedule for the new factory; is it possible to delay it a little? The other is whether this equipment is sufficient, or if they actually need more. Reconsider it after confirming those."
"Do I not need to explain about raising the interest rate?"
Surprised by Tsukahara's unexpectedly positive words, Suzuki's left eyebrow twitched upward.
"Who said to raise the interest rate? At this point, this interest rate is fine. The client won't complain if it goes down later."
"It is already a very favorable interest rate, but is it okay not to raise it?"
"Yes, on the contrary, it will likely go down."
"What do you mean by that? (What are you saying?)"
Suzuki's eyes widened. Tsukahara straightened his posture.
"It's not clear yet, but there was a report on the noon news that the government is planning to compile a supplementary budget. It will likely be decided by the Cabinet within a few days, and subsidies for capital investment and low-interest loans for earthquake reconstruction will be budgeted. If the client can wait that long, I want the loan plan for the new factory to be put on hold until then. If they start the project before the Cabinet decision, they will be ineligible for both subsidies and favorable interest rates."
Suzuki suppressed the urge to say "Really?" out loud, but it showed on his face. Tsukahara noticed and added.
"After a large-scale disaster occurs, subsidy and low-interest loan measures are like a set menu from the government. There hasn't been a major disaster in Fukushima Prefecture in the last ten years, so it's understandable that you, in your eighth year, wouldn't know. As you said, 'supporting companies is a duty that a bank should fulfill.' I was taught that by my seniors as well. Moreover, this company has been using our bank as its main bank for half a century since it was incorporated. So, don't you think we should take advantage of more favorable conditions if we can? It reduces our risk by utilizing subsidies, and it also becomes a track record for reconstruction loans."
Tsukahara smiled, and Suzuki also wore a soft expression.
"I will confirm with the company immediately."
"Oh, and please give my regards to the female president of Kuroda. And, let me confirm, wasn't the president's name Kazumi? This document is different."
"Kazumi-san was the previous president, and now her daughter, Miki-san, has taken over."
He replied in a bright voice.
"That was my lack of study, I apologize. I was in charge when the second generation was in charge, so please give my regards to the third-generation president as well. Retired Managing Director Tanaka also had a strong attachment to this company. He often said, 'I learned a lot from President Toraichi.'"
"Understood."
Suzuki bowed to Tsukahara, returned to his seat, and called Kuroda Manufacturing to meet with the president. He was not confident that he could suppress the excitement in his voice.
(I don't know what generation of Kuroda Manufacturing representative I am at Seihou Bank, but I won't let them go under on my watch. I will pass that light on to the fourth and fifth generation presidents of Kuroda. Banks are said to be 'a business of just talk that skims off the top of others,' but protecting companies through funding is where a financier's true skill lies.)
Suzuki's hands tightened, and the sparkle in his eyes increased.
"Yes, Kuroda Manufacturing, this is Ozawa."
A calm, refreshing voice could be heard from the other side of the receiver.

(Episode 13 End)

Episode 1

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