It goes without saying that most companies, regardless of their history or achievements, need to transform and restructure their stagnant businesses in order to survive. In many cases, a revision of the very corporate framework itself is necessary and this includes the large-scale reconstruction of balance sheets. In Japanese companies especially, one of the biggest weaknesses is the lack of managers who, while receiving support from the finance specialists, can comprehensively assess the fundamental issues of such restructuring actions and make adequate decisions. Challenges related to IR (investor relations) activities for shareholders and other investors are also noted. Using large-scale financial restructuring case studies, this course will help students deepen their understanding of restructuring processes such as M&As, dealing with shareholder activists, business portfolio reorganization and debt restructuring. This course also aims at cultivating practical knowledge and insight regarding corporate value enhancement through large-scale corporate restructuring projects and their balance sheet adjustments.
During this course, students will learn the restructuring techniques for transforming corporations. Students will gain general management insight on how and when to use the most suitable techniques. This course is especially intended for students who are interested in corporate planning, building corporate business portfolios, supporting alliances or restructuring companies.
Section A THEME: Financial Reconstruction for Assets – Large-scale M&A
CASE: The Birth of New Nippon Steel
Section B THEME: Financial Reconstruction for Assets – Large-scale M&A (Continued)
Section A THEME: Reconstructing Corporate Governance – A Dialog with the Market (Funds)
CASE: FANUC Corporation: Reassessing the Firm’s Governance and Financial Policies
Section B THEME: Reconstructing Corporate Governance – A Dialog with the Market (Funds)(Continued)
CASE: Who does the company belong to? Hanshin Electric Railway Co. vs. Murakami Fund
Section A THEME: Reconstructing business portfolio
CASE: SoftBank – Strategy and Finance for a 300-year Kingdom
Section B THEME: Reconstructing business portfolio (Continued)
Section A THEME: Reexamining Business Models and Financial Reconstruction
CASE: NEC’s Semiconductor Business Reorganization in 1999
Section B THEME: Reexamining Business Models and Financial Reconstruction(Continued)
Section A THEME: Bankruptcy Reorganization process
CASE: Adelphia Communications Corp.’s Bankruptcy
Section B THEME: Bankruptcy Reorganization process (Continued)
Section A THEME: Financial Restructuring of Debt – Restructuring of Debt and Equity for Company Survival
CASE: The Japan Airlines Bankruptcy and the Development Bank of Japan
Section B THEME: Financial Restructuring of Debt – Restructuring of Debt and Equity for Company Survival (Continued)
