Course Objectives
Needless to say, mergers and acquisitions play an imperative role as an option for accelerating the business growth strategy of one’s company. In Japan, we are seeing an increase in the number of "triangular mergers," and cases of foreign-affiliates acquiring and merging with Japanese companies are likely to continue in future. On the other hand, the number of companies who struggle with finding a counter-action policy when they are approached for merging and acquisition and who are not capable of keeping their heads cool (while accessing the details of the proposal and its impact on the business as well as presenting their findings to the stock holders) is rather high.
In this course, you will get an in-depth understanding on each individual scheme for Real Option, Project Finance, mergers and acquisitions and internal spin-offs by going through the material that covers leading financial practices. We aim to give you a comprehensive approach with regard to how to deal with acquisition proposals as well as how to raise your company value through acquisitions of other businesses and internal spin-offs.
Finance III encompasses specific features and similarities between valuation you have learned in Finance I (Corporate Finance and Valuation) and fund-raising you have learned in Finance II (Finance Strategy and Fund-raising). The course administrator will assume that this knowledge is acquired, thus make sure that you are ready to apply what you have already learned (in Finance I and II).
This course is designed for those who are visionary business leaders aiming to acquire basic knowledge required for decision making on issues in the financial sector and with the business growth strategy.
Course Details
Programs: Full-time MBA, Part-time MBA
Discipline: Accounting and Finance
Course Level: Applied Course
Required/Elective Course: Elective Course
Number of Credits: 1.5
Report: Day 4
Hours Per Class: 3 hours
Class Capacity: 35 (Part-time MBA)
Recommended Preliminary Courses
- Critical Thinking
- Finance I
- Finance II
Theme/Reading Materials
Day 1
Session A
| THEME |
Real Option |
| CASE |
・Aqua Bounty |
Session B
| THEME |
Real Option (Continued) |
| CASE |
・Aqua Bounty |
Day 2
Session A
| THEME |
Project Finance |
| CASE |
・BP Amoco(B): Financing Development of the Caspian Oil Fields |
Session B
| THEME |
Project Finance(Continued) |
| CASE |
・BP Amoco(B): Financing Development of the Caspian Oil Fields |
Day 3
Session A
| THEME |
Leveraged Buyout |
| CASE |
・Congoleum Corporation (Abridged) |
Session B
| THEME |
Leveraged Buyout(Continued) |
| CASE |
・Congoleum Corporation (Abridged) |
Day 4
Session A
| THEME |
Mergers and Acquisitions |
| CASE |
・Philip Morris Companies and Kraft, Inc. |
Session B
| THEME |
Mergers and Acquisitions(Continued) |
| CASE |
・Philip Morris Companies and Kraft, Inc. |
Day 5
Session A
| THEME |
Internal Spin-offs |
| CASE |
・AMTELECOM GROUP INC. |
Session B
| THEME |
Internal Spin-offs(Continued) |
| CASE |
・AMTELECOM GROUP INC. |
Day 6
Session A
| THEME |
Mergers and Acquisitions |
| CASE |
・Crown Cork & Seal/CarnaudMetalbox |
Session B
| THEME |
Mergers and Acquisitions(Continued) |
| CASE |
・Crown Cork & Seal/CarnaudMetalbox |
Textbook (Please purchase the following textbook before the course starts.)
Principles of Corporate Finance. 12th ed. Global ed.
Richard Brealey and Stewart Myers and Franklin Allen, 2017.
McGraw-Hill Education.
(https://www.mheducation.com/highered/product/principles-corporate-finance-brealey-myers/M1259144380.toc.html)
Reference
Analysis for Financial Management.12th ed.
Robert Higgins, 2019.
McGraw-Hill Education.
(https://www.mheducation.com/highered/product/analysis-financial-management-higgins/M1259918963.html)
Valuation: measuring and managing the values of companies. 6th ed.
McKinsey & Company Inc. , Tim Koller, Marc Goedhart, David Wessels, 2015.
Wiley.
(https://www.wiley.com/en-us/Valuation%3A+Measuring+and+Managing+the+Value+of+Companies%2C+6th+Edition-p-9781118873700)
