RBCT Chapter 96 An 8 Million Yen Bad Debt! [6 Updates, Requesting Monthly Tickets]
Chapter 96 An 8 Million Yen Bad Debt! [6 Updates, Requesting Monthly Tickets]
Chapter 96 An Eight Hundred Million Yen Bad Debt! [Sixteenth Update, Requesting Monthly Tickets]
Chihaya Yuri didn't look at him, she just nodded slightly.
Kiryu Yaya's brows furrowed slightly.
In the Japanese workplace, it's almost unimaginable that Masakazu Yamada, a subordinate, would get into an argument with his direct superior.
Something's not right.
The sounds of arguing drifted out intermittently, and it was difficult to make out the specifics through the door; only a few words could be caught occasionally.
"One billion —"
"Your signature————"
"The review process was not rigorous enough."
"I don't care—"
Kiryu Yaya's brows furrowed even more deeply.
The others in the office had obviously heard it too, but no one dared to move or ask anything.
Everyone had their heads down, pretending to be busy with their own things, but their ears were involuntarily perked up.
About ten minutes later.
The door to the section chief's office was finally opened.
Kiyoshi Ogaki walked out from inside.
He was wearing a dark gray suit, his hair was neatly combed, but his expression was not good.
As he walked out of the office, his gaze swept across the financing review section before he strode toward the door.
The footsteps in the corridor gradually faded away.
The air in the office, however, still didn't feel relaxed.
Masakazu Yamada stood at the door of the section chief's office, one hand still resting on the door frame.
His face looked terrible.
"Section Chief————"
Wakako Kishi was the first to speak, her voice very soft.
Masakazu Yamada glanced at her, then looked at everyone in the office, and remained silent for two seconds.
Then he spoke.
"Today's morning meeting will be postponed to 9:30."
After saying that, he turned and went back to his office, the door closing gently behind him.
A snap.
The office fell completely silent.
Kiryu Yaya sat at his workstation, looking at the closed door, feeling increasingly uneasy.
He turned to look at Chihaya Yuri and lowered his voice.
"Senior, what happened?"
Chihaya Yuri didn't answer immediately. Instead, she glanced around to make sure no one was paying attention before lowering her voice to a level that only the two of them could hear.
"A precision industrial company in Higashi-Osaka has run into problems with a loan it received last year."
9
Kiryu Yaya's brows furrowed.
"Precision industry?"
Chihaya Yuri nodded slightly: "That loan was approved last autumn. It was a case personally pushed forward by Department Head Ogaki. Section Chief Yamada was initially reluctant because there were some discrepancies in the company's financial statements."
"But Minister Ogaki said there was no problem, saying that the company was a long-established enterprise in Higashi-Osaka and had been cooperating with the bank for more than ten years, so there would be no problem."
Kiryu Yaya's gaze darkened slightly.
"Was the section chief forced to sign?"
"It wasn't forced."
Chihaya Yuri shook her head.
"It was signed with Minister Ogaki's guarantee. The rule of the financing review division is that if the minister clearly indicates that there is no problem, the head of the review division can reserve his opinion, but usually he will not stand up for himself."
She paused.
"But now we can't repay that 1 billion yuan loan."
"Aren't you going to get back to work?"
"Yes. Since last month, the loan from that precision industrial company has been delayed. This month it's gotten worse; they've even started defaulting on interest payments. The debt management department intervened last week, but the situation is worse than we thought."
"It turns out that the collateral valuation report and financial statements submitted by Higashi-Osaka Seiko at the time had problems. The land in the collateral was overvalued by about 300 million yen, and most of the accounts receivable on the company's books were also fictitious. In addition, with the land price continuing to depreciate over the past year, the original collateral value of 1.1 billion yen can now only recover a maximum of 200 million yen."
"So, there are still 800 million in bad debts in between?"
Kiryu Yaya frowned: "So, Department Head Ogaki came today to investigate the section chief's responsibility?"
Chihaya Yuri didn't answer directly, but simply said, "Minister Ogaki will retire in less than a year."
This statement says it all.
A minister nearing retirement would never take the blame for someone else at a time like this.
That leaves only one person to take the blame—
Head of the Financing Review Section.
Masakazu Yamada.
In a place like a bank, if you're saddled with a case involving billions of dollars, the outcome is pretty much predictable.
It's basically an external investigation.
But for bank employees, this is worse than death.
Morning meeting at 9:30.
In the meeting room of the financing review department, about twenty people sat in a circle around a long table.
Masakazu Yamada sat in the main seat, his complexion slightly better than before, but still gloomy.
"Let me tell you a few things today."
"First, the follow-up on the loan of the Miyazawa Group will continue to be handled by Section Chief Chihaya, with Kiryu assisting in the investigation."
"Secondly, we need to increase manpower this week for debt collection from small and medium-sized enterprises in Higashi-Osaka. The Debt Management Division is already overwhelmed, and the Financing Review Division needs to cooperate."
"third----"
He paused for a moment.
"Higashi-Osaka Precision Industry Co., Ltd., also known as Higashi-Osaka Seiko, is currently experiencing significant repayment delays."
.
The meeting room fell silent.
Even the sound of turning pages has disappeared.
Two seconds later, Hashimoto Yusuke spoke first, his voice deep and muffled: "Section Chief, to what extent is the delay?"
Masakazu Yamada glanced down at the documents in his hand: "Last week, the loan was effectively frozen. Yesterday, the Debt Management Division confirmed on-site that the factory is partially shut down, and the main supplier has stopped supplying goods."
He raised his head.
"According to our classification, this store is already classified as a company on the verge of bankruptcy."
"Amount: One billion. Unpaid interest will be calculated separately."
"The collateral is currently valued at only 200 million."
"The shortfall is 800 million yen."
""
"—Eight hundred million?"
In the meeting room of the financing review department, it was as if someone had sucked all the air out.
About twenty people sat around the long table, and no one spoke immediately.
Eight hundred million yen.
At the branch level, this is a figure that can drag down the entire classroom's annual exams, bonus coefficients, promotion quotas, and even the retention or dismissal of the section chief.
The bank's bonus system consists of three parts: overall performance coefficient, departmental assessment coefficient, and individual evaluation coefficient.
Among the departmental performance evaluation metrics, the most important indicator is the "non-performing loan rate," which is the proportion and amount of loans that were approved by the department but later became non-performing loans.
According to the bank's internal performance evaluation rules, for every non-performing loan exceeding 100 million yen, the department's non-performing loan ratio will be reduced by one level.
A figure of 800 million can directly reset the annual score for "Non-Performing Loan Management" to zero.
After being reset to zero, the department's performance evaluation coefficient will drop from the normal level of around 1.0 to 0.3 or even 0.2.
This means that the base bonus for everyone in the class will be cut by 70%.
But it's not over yet.
The department's performance evaluation coefficient has been reduced to 0.2, and the remaining bonus pool will have to undergo another round of "accident liability tracing".
According to bank regulations, in the fiscal year following the occurrence of a major non-performing loan, a portion of the relevant department's bonus pool must be allocated as a "loss compensation reserve".
To put it bluntly, it's a punitive deduction.
It is said that the Nagoya branch had a bad debt of 300 million yen last year, and the year-end bonus of that department was reduced by an average of 800,000 yen per person.
Eight hundred million, which is roughly three times the size.
But the financial loss isn't even the most painful part.
What truly suffocated the entire class was the inescapable "end-of-term reflection meeting."
Every March, the entire bank holds a final accounts meeting.
At the meeting, the ministers of each department will report on their annual performance one by one.
Following the meeting, the Financing Review Division will receive a formal written business improvement order.
This order is not just a formality; it will be clearly written into the department's goals for the next year, becoming a tight rein on everyone.
During the improvement period, all loan review processes will be doubled, and any financing with even the slightest doubt will have to be reported up the chain of command, with procedures that are outrageously cumbersome.
What should have been a three-day process may now take up to two weeks.
Decreased efficiency will lead to a decline in performance.
The decline in performance will be reflected in the bonuses the following year.
This is a downward spiral cycle.
>