Chapter 12: Opening an Account

The prestige of a degree from the Eastern University truly opened doors. On a morning when Yosuke Ueno was idly watching television to pass the time during spring break, Zhiming Tao had already completed sixteen application forms and received invitations to company orientation sessions from nine different firms. He couldn’t fill out any more, as he only had just enough photographs left to attach to the resumes.

“You really aren’t the Da Lang you used to be!” Yosuke Ueno remarked after Tao hung up the phone. “Do you seriously want Nae-chan to move in with you? What kind of work do you expect her to do?”

“That depends on her performance,” Zhiming replied offhandedly, gathering the thick stack of handwritten application forms into his backpack as he changed clothes to head out. “I’m going out to mail these resumes.”

“You’re leaving without lunch?”

“I’ll grab something outside.” He waved his hand, “See you.”

Yosuke watched him go, utterly bewildered. The change was undeniable.

His friend’s diligence only made his own aimlessness more apparent.

Not long after Zhiming left, the phone rang inside the house.

“Moshi moshi?” Yosuke picked up, and a girl’s voice came through the receiver. “Um… Is this Tao’s house? This is Kyoko Okita, we met yesterday at Tomokazu’s...”

“Kyoko-chan?” Yosuke brightened. “This is Yosuke Ueno, we met yesterday. Tao just stepped out. Is there something I can help you with?”

“Well…” Kyoko sounded a little disappointed. “I wanted to ask Tao for more advice about interviews. Yosuke, could you please ask him to call me back when he returns?”

“Of course!” Yosuke paused, then added, “Actually, if it’s about that, I can help you as well, Kyoko-chan.”

“Oh! Sorry, I was hoping both you and Tao could help. I wanted to check your schedules—both Kayoko-chan and I are looking forward to your guidance.”

“Huh? Kayoko?”

“She’s a friend—I’m staying with her now. She’ll be starting her third year soon, and next year she’ll have to work hard for job hunting too!”

“All right, all right!” Yosuke’s excitement grew. “I’ll let Da Lang know as soon as he gets back!”

“Thank you so much!” Kyoko hesitated before asking, “Um, have you and Tao already decided which companies you’ll be joining? You both have time, right?”

“Of course we have time,” Yosuke replied readily. “Don’t worry—even if Da Lang is busy, I’m absolutely free all through March.”

He thought back to how he usually acted around girls and grew a little self-conscious. “Of course, Da Lang is even more impressive. Yesterday, Tomokazu’s firm offered him a 500,000 yen signing bonus just for a letter of intent. I’ll make sure he sets time aside!”

“Five hundred thousand?” Kyoko’s voice rose in surprise, full of envy. “Unbelievable!”

“In any case, just wait for my call!” Yosuke hung up, exhaling deeply, and was suddenly overcome by a sense of defeat.

Why did he feel more confident only with Da Lang by his side?

Just the other day, he’d been sunk in gloom.

...

Zhiming Tao mailed out all his resumes and found a ramen shop for a quick lunch before getting down to business.

In his memory, Japan’s biker gangs and even those involved in the underworld were numerous. With the cash he’d earned yesterday, he preferred to spend a bit more and take a taxi.

Fortunately, at midday, taxis weren’t too busy, and fares were fairly reasonable.

After setting aside some cash and depositing the 400,000 yen he earned the previous day, his first stop was a branch of Nomura Securities.

His capital was limited, but having studied the Japanese financial bubble’s collapse over and over before his rebirth, he knew this was a heaven-sent opportunity to make a killing—how could he not seize it?

First things first: open an account.

As soon as he got out of the taxi, he was met with a bustling scene.

His head ached a little. After the financial sector opened up, the stock and currency markets had become hot topics; hordes of ordinary people were flooding in, eager to try something new.

Watching the busy staff inside the securities company, Zhiming was reassured that his focus on finance for job-hunting was spot on.

At present, the financial and real estate sectors were the most cash-rich and extravagant. With performance rising so quickly, they were desperate for manpower.

If the flood of hot money continued in the coming years, the food and entertainment sectors would also suffer severe worker shortages.

By contrast, the manufacturing industry was currently the most affected by currency fluctuations, desperately cutting costs; the clever ones had already begun making money through financial operations with company assets.

The main hall was buzzing with excitement.

Japan’s stock market had been in a gentle bull run for years, and after last year’s market liberalization, a wave of foreign institutions and capital had poured in, reigniting the fervor for financial investment.

After a long wait in line, it was finally Zhiming’s turn.

His receptionist stood up and bowed deeply, exuding professionalism. “Thank you very much for waiting. How may I help you today?”

Zhiming smiled at the young woman in her business attire. “I’d like to open an account with Nomura. Here are my documents.”

He was more than familiar with this process from his previous life as a trader.

Of course, this was Tokyo in the 1980s; technology hadn’t yet made things as convenient as the computer age would. There were small differences, but nothing he couldn’t handle after making a few inquiry calls.

He didn’t have much cash in his account, but it met the minimum requirement for opening an account.

Throughout the wait and paperwork, he listened to the conversations around him.

“Look at the crowds here at Nomura—clearly, the financial sector is about to skyrocket!”

“Still, interest rates have dropped, so keeping money in the bank isn’t as rewarding as before. Consumption is bound to rise too!”

“Think about the redevelopment plans for the capital—real estate and construction materials are set for a huge boom!”

And so on.

Zhiming smiled to himself at these familiar scenes.

There was really no need for such debate; with the incoming flood of hot money in the next few years, most sectors would see impressive gains.

But that wasn’t his aim.

“Are you looking to trade in foreign exchange, Mr. Tao?”

“Yes!” Zhiming answered without hesitation, clearly familiar with the process.

Seeing how young he was but how comfortable with financial transactions, the broker, Joraku Kudo, couldn’t help but ask, “Do you have any trading experience? With 400,000 yen, the stock market might be a safer place to start.”

“Thank you for your advice, but please help me open a position as soon as possible,” Zhiming replied with a smile.

Kudo didn’t press further. Win or lose, his commission was assured.

With Zhiming’s current capital, he was a small fish among small investors, not important enough for a dedicated client manager or broker. Frankly, 400,000 yen wasn’t much at all.

With leverage, even minor fluctuations could wipe it out.

Kudo wasn’t particularly formidable himself—otherwise, he wouldn’t be working with retail investors, but with high-net-worth clients.

Zhiming invested his entire 400,000 yen in the foreign exchange market.

From now on, further operations could be handled by phone.

He had no intention of loitering in the bustling trading hall as others did; he left immediately.

Next, he had to grow his capital, increase his positions and leverage.

He remembered clearly that just a month earlier, a historic event had shaken Japan’s exchange rates.

A rolling news ticker on television had read: “Finance Minister Takeshita declares that a yen exchange rate of around 190 is acceptable.” From that moment, the yen’s appreciation spun out of control.

Now, a month later, the real drama was only beginning.

In January, the yen-to-dollar exchange rate could still hold at around 190:1.

By May, it would plunge to 150:1.

In this moment, every additional yen meant more leverage and exponentially greater returns!

Standing on the street outside Nomura Securities, Zhiming pondered his next steps.

Quietly, he had opened his account. Now, aside from continuing to extract signing bonuses through interviews, how best to expand his capital?