Guest Speaker - Mr. Yasushi Shingai, Executive Vice President and Deputy CEO, Japan Tobacco Inc.
On July 13th, Professor Tomonori Ito's Applied Corporate Finance class welcomed Mr. Yasushi Shingai, Executive Deputy President and Deputy CEO of Japan Tobacco Inc., as a guest speaker. Mr. Shingai was the Executive Vice President of Japan Tobacco International when Japan Tobacco acquired Gallaher of UK in 2007, which is one of the biggest ever cross-border M&As by a Japanese company. He was the chief negotiator of this highly publicized transaction and one of the protagonists of the case "Japan Tobacco : Domestic Giant Going Global (A) (B)" authored by Professor Ito.
After a one hour discussion of the case in which students discussed the pricing of the transaction and the reasons for success of the post-merger integration of Gallaher, Mr. Shingai stayed on for a one-hour Q&A session with the students. He touched on points such as the importance of preparation in succeeding with M&A, how large the synergies out of the acquisition had been expected to be, how a stretch assignment in the U.S. has prepared him for a future leadership role, and how to deal with investment bankers and consultants. It was truly a fruitful session full of learning on how to succeed with M&A and what is required of business leaders