章節 1260: Chapter 1260: The true face is revealed
Tokyo, the headquarters of the island country 7-Eleven Convenience Store Co., Ltd.
Vice President Kimura Sawano, who had just returned from the United States, rushed back to the company with a grave expression and walked straight into the office of President Suzuki Toshifumi.
Toshifumi Suzuki can be said to be the biggest contributor to the success of the island nation's 7-Eleven convenience store. He was the one who first convinced Masatoshi Ito to sign a regional franchise agreement with Southern Company of the United States, obtaining the right to develop the '7-Eleven' convenience store model in the island nation. This was also the first convenience store in the island nation to copy the American model.
This was the right path, and as a result, Suzuki Toshifumi gained the unanimous approval of the Ito-Yokado Group's senior management, and in February 1978, he became the president of 7-Eleven Convenience Store Co., Ltd., leading the company on a path of rapid development.
However, this path of prosperity has gradually become obscured by a thick fog this year, so that the future is no longer visible, and the future has become uncertain.
Seeing the look on Kimura Sawano's face, Suzuki Toshifumi's expression instantly grew grave, and he subconsciously put down the pen in his hand.
'Kimura-kun, you're back. How are things?'
Kimura Sawano sighed, his face showing signs of guilt, and said, 'President, I'm sorry to have let you down.'
'Roy Gordon no longer dealt with us ambiguously, but the conditions he proposed were unacceptable to us.'
'What conditions?'
Suzuki Toshifumi hurriedly asked.
'Southern United has proposed that the franchise fee remain at the current level of 3 million US dollars per year, but they want to increase their shareholding from 21% to 51% and require us to transfer a further 30% of the shares to them,'
Kimura Sawano said heavily.
Suzuki Toshifumi's face instantly turned dark as he angrily cursed, 'Damn American devils, he's robbing us!'
'They're jealous of the bright future of the island nation's 7-Eleven convenience stores!'
'Yes, they are robbing us. Roy Gordon is determined to take advantage of us. He even threatened that this is our only choice,'
Thinking about the scene when negotiating with Roy Gordon, Kimura Seno's anger flared up again, and he said with the same hatred.
As the vice president of the island country 7-Eleven Convenience Store Co., Ltd., because the company is a large retail company in the island country with annual revenue of over 200 billion yen, his social status is very high, but after being sent to the United States by the company, he has been subjected to months of humiliation.
The Japanese convenience store chain Seven-Eleven was in the hands of the American Southern Company, and in the face of all kinds of difficulties and pressure, he could only endure and not dare to react, for fear of damaging the cooperation between the two sides and giving Roy Gordon a reason to cause trouble and get the company into trouble.
In fact, the source of this incident that angered Toshifumi Suzuki and Sawano Kimura so much was the contract signed in November 1973.
In November 1973, Masatoshi Ito and Toshifumi Suzuki went to the headquarters of Southern Company in Texas, USA, to negotiate the franchise rights of 7-Eleven convenience stores in the island country.
The final result of the negotiations was that Southern Company would acquire a 21% stake in the 7-Eleven convenience store chain in the island country, while the Ito-Yokado Group would need to pay an annual franchise fee of US$3 million. The franchise period was set at ten years, with priority for renewal after ten years and the specific franchise fee to be renegotiated.
Since Ito-Yokado was in a weak position at the time, Southern Company became a shareholder of the new company, and Ito-Yokado did not expect 7-Eleven to develop to the extent it has on the island. Therefore, the contract was relatively lenient in terms of breach of contract, and only stipulated that during the term of the agreement, if either party unilaterally breaches the contract, they must pay the other party a lump sum of 30 million US dollars in compensation.
This clause is more of a restraint on Southern Company.
The agreement was signed in November 1973, and now it is September 1983, just two months before the ten-year period ends.
In fact, Suzuki Toshifumi began planning for the renewal of the contract at the beginning of this year, but he was a little careless at first, thinking that it was just a matter of negotiating the franchise price. By the time he realised that something was wrong, it was already a bit too late.
It's just that the shareholder representative and director appointed by the American South Company are so good at bluffing, and the two sides have been working closely together for so many years.
The American South Company has also been enjoying the development dividend of the 7-Eleven convenience stores on the island country. At the beginning, it acquired 21% of the company's equity with only brand investment. It can be said that the Ito-Yokado Group has done the American South Company justice.
I just didn't expect Southern Company to become so greedy and try to gobble up the 7-Eleven convenience stores on the island!
'President, what should we do now?'
'Roy Gordon has been dropping smoke bombs and arguing with us over the annual franchise fees, but he's only now showing his true colours.'
'We have less than two months left before the ten-year period expires, and once that happens, they can automatically terminate the contract and the clause on the US$30 million penalty will become invalid.'
'We only have less than two months to make a decision, which is really tight.'
Kimura Sawano said with a grave expression.
'Yes, it's really tight. Roy Gordon is deliberately dragging his feet until now. We're in big trouble!'
Suzuki Toshifumi sighed heavily after a long while.
'President, there should still be a new store opening plan in the next few months. What are you going to do?'
Facing Nakamura Sawano's question, Suzuki Toshifumi shook his head and sighed: 'According to the original plan, 120 new stores need to be opened in the fourth quarter. The site selection work has been completed for the most part, so for now, we can only suspend it.'
'We have spent nearly ten years building the brand, and consumers already recognise our 7-Eleven convenience store brand very well. We must first resolve the brand issue!'
'This matter can only be decided by President Ito. I'll consult him first.'
After Suzuki Toshifumi had finished speaking, he was silent on the stool for half a minute, then picked up the phone and called Ito Masatoshi. After a brief conversation, he made sure that Ito Masatoshi was at Ito-Yokado and had time to meet, then hung up.
'Kimura-kun, you come with me to meet President Ito.'
'Okay!'
After saying this, Kimura Sawano followed Suzuki Toshifumi out of the office.
The headquarters of the Ito-Yokado Group is located in Shiba Park, Minato-ku, Tokyo, not far from the 7-Eleven Convenience Store Co.
After about ten minutes, Suzuki Toshifumi brought Kimura Sawano, hurrying to Ito Masatoshi's office.
'Suzuki, Kimura, sit!'
'Thank you, President!'
'You both came to see me together, is it about the American Southern Company?'
'How is it progressing?'
Masatoshi Ito is a gentle man, and his trademark is the smile on his face. Now he asked about the situation in a gentle tone, but it made Toshifumi Suzuki and Sawano Kimura feel guilty.
After all, they had let the president down.
As president of the 7-Eleven convenience store chain, Toshifumi Suzuki was not lacking in responsibility. He bowed his head slightly and recounted the general situation: 'President, I'm sorry to report bad news to you...'
As Toshifumi Suzuki continued to tell the story, the smile on Masatoshi Ito's face gradually disappeared, and his expression became more and more solemn.
'Kimura, do you have anything to add?'
But Ito Masatoshi remained calm. After Suzuki Toshifumi had finished, he asked Kimura Sawano again.
Kimura Sawano added, 'President, I have some more details to add...'
Then Kimura Sawano mainly talked about the content of his conversations during each contact with Roy Gordon, as well as his personal analysis.
After Kimura Sawano had finished speaking, Ito Masatoshi said solemnly, 'It seems that after nearly ten years of development, we have encountered the greatest crisis since the company was founded!'
'I blame myself for not paying enough attention at the beginning, which has left such a big loophole.'
Seeing that Masatoshi Ito was blaming himself, Toshifumi Suzuki felt even more embarrassed and hurriedly said, 'President, in fact, the main responsibility is mine. At that time, I strongly recommended joining the 7-Eleven convenience store chain, and I was optimistic about the development of the chain convenience store industry. It's just that I underestimated the future of this market, so I didn't...'
'Okay, let's not argue about the right and wrong of the past,'
Masatoshi Ito interrupted Toshifumi Suzuki and said, 'We need to solve the brand problem right away.'
'American South's demands are unreasonable. If we agree, then American South will control the ownership of the company. Even if we develop well, the future will be full of risks, and American South can easily decide our future.'
'At present, it seems that there are only two options before us. The first is to continue negotiating with American South and lower their conditions. The equity can be transferred again, but at most 12%, and their shareholding cannot exceed one-third of the company's equity.'
'If they are unwilling, then we can only give up, reorganise the stores across the country, and change the brand completely.'
'Although doing so will deal a heavy blow to us, I believe we will definitely succeed in getting through it.'
Having said this, Masatoshi Ito paused, and his tone changed from heavy to impassioned and very emotional.
'The company's greatest asset is not money, but trust – the trust of our customers, suppliers and employees. I believe that even if we change our brand, as long as we continue to provide the same good management and service, our customers will continue to choose us.'
'Of course, we must also be aware that if we really have to make the second choice, convenience stores such as Lawson and Zen-Nichi will definitely not let go of the opportunity and will compete fiercely with us. We will be under a lot of pressure, especially you two.'
'President, please rest assured, no matter how difficult it is, we will overcome it. Along the way, we have already proven that we are not afraid of challenges!'
'Yes, President, please rest assured!'
Suzuki Toshifumi and Kimura Sawano said in unison.
Ito Masatoshi nodded with satisfaction and encouraged, 'I believe in your abilities!'
Then, his smile faded, his eyes became unusually deep, and he solemnly ordered:
"Kimura, you continue to negotiate with Southern Company, and I'll give you ten days!'
'I've already told you the bottom line: a maximum of 12% of the equity will be transferred, and the price cannot be low.'
'Yes!'
Kimura Sawano replied loudly.
Ito Masatoshi then looked at Suzuki Toshifumi and commanded, 'Suzuki, on your side, prepare a plan in advance according to the second situation I mentioned. Once Kimura's side fails to make progress, then execute it immediately. You must start rectifying and renovating all stores when the contract expires, and complete the brand change as quickly as possible.'
'Understood!'
Suzuki Toshifumi held his head high, his expression unusually determined.
'Hm!'
'Go, do your best!'
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