Financial Reorganization

Course Objectives

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.

 

Course Details

Programs: Full-time MBA, Part-time & Online MBA
Discipline: Innovation
Course Level: Specialized Course
Required/Elective Course: Elective Course
Number of Credits: 1.5
Report: Day 4
Hours Per Class: 3 hours
Class Capacity: 35

 

Recommended Preliminary Courses

- Critical Thinking
- Finance I
- Finance II
- Strategy

 

Theme/Reading Materials

(*The themes and cases shown below are subject to change)

Day 1
Session A
THEMEFinancial Reconstruction for Assets - Large-scale M&A
CASEThe Birth of New Nippon Steel
Session B
THEMEFinancial Reconstruction for Assets - Large-scale M&A (Continued)
CASEThe Birth of New Nippon Steel
 
Day 2
Session A
THEMEReconstructing Corporate Governance - A Dialog with the Market (Funds)
CASEFANUC Corporation: Reassessing the Firm's Governance and Financial Policies
THEMEReconstructing Corporate Governance - A Dialog with the Market (Funds)(Continued)
CASEWho does the company belong to? Hanshin Electric Railway Co. vs. Murakami Fund
Day 3
Session A
THEMEReconstructing business portfolio
CASESoftBank - Strategy and Finance for a 300-year Kingdom
Session B
THEMEReconstructing business portfolio (Continued)
CASESoftBank - Strategy and Finance for a 300-year Kingdom
 
Day 4
Session A
THEMEReexamining Business Models and Financial Reconstruction
CASENEC’s Semiconductor Business Reorganization in 1999
Session B
THEMEReexamining Business Models and Financial Reconstruction(Continued)
CASENEC’s Semiconductor Business Reorganization in 1999
 
Day 5
Session A
THEMEBankruptcy Reorganization process
CASEAdelphia Communications Corp.'s Bankruptcy
Session B
THEMEBankruptcy Reorganization process (Continued)
CASEAdelphia Communications Corp.'s Bankruptcy
 
Day 6
Session A
THEMEFinancial Restructuring of Debt - Restructuring of Debt and Equity for Company Survival
CASEThe Japan Airlines Bankruptcy and the Development Bank of Japan
THEMEFinancial Restructuring of Debt - Restructuring of Debt and Equity for Company Survival (Continued)
CASEThe Japan Airlines Bankruptcy and the Development Bank of Japan

Textbook (Please purchase the following textbook before the course starts.)

Richard Brealey and Stewart Myers and Franklin Allen, 2020. Principles of Corporate Finance. 13th ed. Global ed. McGraw-Hill Education

Faculty

Satoshi Hirose
Satoshi Hirose
Accounting and Finance, Innovation, Management Philosophy
COURSES:
Essential of Finance
Financial Reorganization
Finance I (Corporate Finance)
Entrepreneurial Leadership
Keiei Dojo
Akira Morio
Akira Morio
Innovation
COURSES:
Financial Reorganization
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