Guest Speaker: Mr. Yasushi Shingai, Honorary Company Fellow, Japan Tobacco Inc.
On July 12th, Professor Tomonori Ito's Applied Corporate Finance class welcomed Mr. Yasushi Shingai, Honorary Company Fellow 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 to make sure to generate synergies, how JT develops strong leaders, 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.