In the absence of any other plausible explanation, Japan's financial media had to take the Troubled Waters report as the only legitimate explanation.
However, this report is a bit of a fuss in the eyes of most investors, and how many properties and projects Seibu has in Japan and around the world, a Swiss ski resort is nothing at all, after all, it is very likely that Seibu Group did not do it on purpose, but just accidentally put on the crown of its ski resort.
However, the Tokyo Stock Exchange issued a warning to the Seibu Group, which said that it was due to the negligence of the financial staff that mistakenly counted one of the group's ski resorts in Austria as Swiss.
And corrected their financial reports in a timely manner.
Not long after this statement was issued, early the next morning, investors who had lost money yesterday prayed for an immediate rebound in Seibu stock today.
Let them recoup yesterday's losses.
In the midst of the expectations of all investors, from the beginning of the call auction, Seibu's stocks and bonds were resolutely blocked on the fall limit.
Many investors who wanted to pick up a bargain yesterday directly lost 10% of their principal, and what's worse is that even if everyone wants to run in the case of a falling limit, they can't run away, because everyone is waiting for someone else to take over their stocks.
The Tokyo Stock Exchange once again staged a Seibu stock and bond double kill, which is definitely a major blow to investors.
If the first day of the stock and bond double kill was caused by the omission of Seibu Group's financial report, then what is the second stock and bond double kill for?
The two-day decline also made the Seibu Group feel helpless, they did not encounter any operational difficulties during this time, but the group's stocks and bonds have fallen by 20% of the market value.
In just two days, Tsumi's net worth has shrunk by more than $25 billion.
But he didn't even know why.
During the lunch break, Seibu investors received an update on the Seibu Group, and Yoshiaki Tsutsumi announced that he would spend 100 billion yen to increase his holdings in Seibu shares out of optimism about the company's future development prospects.
This news quickly brought confidence to the market.
As soon as the market opened in the afternoon, Seibu's stock began a county-wide counteroffensive and soon returned to the price at yesterday's close, and many investors saw Seibu's strong rebound and no longer hesitated to follow.
Just when the bulls of the Seibu system were about to take advantage of the victory to pursue, the invisible demon in the market struck again, and in just five minutes, the counterattack of the Seibu system was once again fiercely suppressed, whether it was the stock market or the foreign exchange market, all of them were locked in the fall limit.
Seeing the huge and terrifying seal in the stock market, it is as high as 1.5 trillion yen, that is, unless someone can spend 10 billion US dollars to eat this seal order.
This kind of financial resources makes people feel extremely desperate, who is so unoptimistic about the Seibu Group that they have to put him to death All investors desperately need an explanation, an explanation that they can accept.
However, apart from yesterday's news about ski resorts in Switzerland, there was no bad news about the Seibu Group.
This makes investors wonder why they are losing money.
It's time for the entire Japanese financial community to come up with a legitimate explanation for the sniping of Seibu Group's share price.
Muddy Waters Research, a company far away in Switzerland, sent the Yomiuri Shimbun a new research report based on public information from the Seibu Group, in which Muddy Waters pointed out that the overall debt ratio of the Seibu Group had exceeded all of its own assets, and that it was insolvent to put it mildly.
This is not a new discovery, as a similar report was published by a local research institute in Japan a few years ago, but commercial real estate developers are inherently a highly indebted industry, involving various related industries such as construction, design, and building materials.
Developers usually borrow money from banks to buy land, and then mortgage the land to banks for more capital before buying the land.
The whole process is like a snowball.
In the construction of real estate projects, construction contractors, building materials suppliers, and even architectural design firms have to advance funds for the projects they undertake.
Because of this, although the real estate industry in Japan is in full swing now, the construction contractors, design companies, building materials suppliers and other related service organizations that are actually responsible for the construction are not making the most profits.
Most of the money goes into the hands of real estate developers.
It can be said that using other people's money to make money is an open secret in the real estate developer industry, so the debt ratio of developers is generally above 70%.
With the Seibu Group's position in Japan, if they develop a project, the cost will only be lower, and the bank will give it the most favorable credit because of the size of the Seibu Group, and even without collateral, a business card of Yoshiaki Tsutsumi can lend hundreds of millions of yen from Japanese banking institutions.
Those construction contractors and building materials suppliers are lining up to cooperate with Seibu Group, and as a Seibu Group, it is natural to choose those companies that can provide more advance funds for the project.
For this reason, although the Seibu Group has projects all over Japan, they do not use much of their own funds in Japan, and these funds are all converted into dollars by the Seibu Group to invest in overseas projects due to the appreciation of the yen.
Although this is the truth, but when the Japanese real estate industry continues to rise and there is no turning point in sight, no one will care about the debt problem of the Seibu Group.
Everyone believes that land prices in Japan will continue to rise.
Seryosha knew he couldn't stand up to the Japanese government's huge foreign exchange reserves, but it was more than enough to deal with the Seibu Group, Japan's largest real estate developer.
All this is part of Seryosha's plan.
Including Lebedev's Muddy Waters Company, the meaning of which is to fish in troubled waters.
Seryosha wanted to shatter the myth of the invincibility of the Seibu clique, thereby triggering a debt crisis in the entire Japanese financial market.
The two consecutive days of double killings of stocks and bonds have made Yoshiaki Tsutsumi understand that there are people behind him, and he does not dare to suspend trading now, because once the suspension is made, investors will think that something is wrong with the Seibu Group.
The only way now for Yoshiaki Tsutsumi is to face the provocations of his rivals head-on in the stock and bond markets of the Tokyo Stock Exchange, and use his powerful financial resources to pull up the share price of the Seibu Group.
Yoshiaki Tsumi has pledged 10 percent of his shares to banks to raise more funds to buy back his own shares, which is close to $10 billion, or $150 trillion. t1706231537: