140, old Japanese companies reluctantly cut meat, and Chinese companies took over 50 billion yen!
Toshiba, with a history of 140 years, is the "representative" of the decline of Japanese enterprises. It was revealed that this company kept making false accounts after 2008, which made the company earn151800 million yen out of thin air. Three consecutive presidents were forced to resign because of this problem. In the past two years, Toshiba has been on the verge of layoffs and bankruptcy, and it can only "reluctantly give up what one favours" for businesses that continue to lose money.
According to statistics, Toshiba first sold its nuclear power assets in the UK at a price of 654.38+05 billion pounds, and then sold its Westinghouse Electric Company at a price of 4.6 billion dollars in 2065.438+08+08. It even plans to sell its liquefied natural gas business in the United States to China's Xinao Energy, and its household appliances business to China's Midea Group.
20 16 In March, Midea announced that it had acquired 80. 1% equity in Toshiba's white goods business for 53.7 billion yen (about US$ 473 million), and obtained the global authorization of Toshiba brand for 40 years. There were more than 5,000 patents related to household appliances, markets and manufacturing bases in Japan and China, and Toshiba's household appliances debt was about 25 billion yen.
Smart Japanese didn't expect that China Capital "saved" Toshiba household appliances!
Toshiba Group held a tearful sale. Is Midea's takeover of the home appliance business "a big bargain"? It wasn't like this at that time. Savvy Japanese have sold loss-making and hopeless enterprises, while their core business, such as semiconductors, will not be sold no matter how much money. China enterprises that are kind enough to "take over" the home appliance business are regarded as stupid and rich "suckers".
However, the development of things is beyond everyone's expectation-Toshiba household appliances acquired by China have actually "come back to life". Its operating income reached about 250 billion yen (about RMB 157 billion) in fiscal year 20 17, which was 50% higher than that of Toshiba's fiscal year 20 15, and it also successfully turned losses into profits in fiscal year 20 18. Moreover, by making full use of Midea's production base and sales network, the company began to turn from defense to attack.
In addition to home appliances manufactured by independent factories in China and Thailand, in Thailand, more than 30 products were launched in the second half of 20 18. In India, it is estimated that a new factory will be built in 2020, and the investment in the next five years will exceed 20 billion yen (Toshiba household appliances will leave the Indian market in 20 12). Obviously, the Japanese who ruthlessly sold Toshiba's household appliances miscalculated, and the China enterprises who took over decisively made a fortune!
Those Japanese enterprises rescued by China contributed 65.438+300 million people to the market!
Toshiba is not the only Japanese brand that has been "saved" by China in recent years. In 2005, Benben Golf, a bankrupt golf club manufacturer, was "pocketed" by Chinese enterprises, and has now embarked on the track of recovery. In the last four years up to fiscal year 20 17, its sales increased by 70%, and the clubs that Japanese Prime Minister gave to American President during his visit to the United States were also produced by this company.
In addition, AQUA, which inherited Sanyo Electric's white goods business, was acquired by Haier Group in 20 12, and turned losses into profits a few years later. In addition, LAOX, a large Japanese duty-free shop chain acquired by Suning Shang Yun, Renown, an old Japanese clothing company, and NEC, a Japanese company acquired by Lenovo, are gradually "resurrected" with the help of Chinese enterprises.
Why are Japanese companies such as Toshiba Household Appliances able to revive quickly after receiving blood injections from China people, but they have been struggling on the brink of bankruptcy in the past? This is mainly due to the huge market of China1300 million people and the economic strength far exceeding that of Japan. For the growing strength of China enterprises, if they can "take the opportunity" to absorb advanced Japanese production technology and skilled workers, they will also benefit a lot!
Midea only holds the white goods assets of Toshiba Group, especially the world-leading refrigerator technology. After taking over, Toshiba still operates independently. In terms of production technology and technology, Midea can only learn, but it can't help at all. Beauty can bring Toshiba back to life only through the change of business philosophy and sales model.
When Midea took over, there were only three models of Toshiba refrigerators, 60 1/595/495, and only seven models with different colors, mostly metal brushed doors. The functions of these three models are similar, mainly because of the price difference between volume and energy efficiency, which means that the 495 model has only three levels of energy efficiency. Midea puts forward that all energy efficiency should be first class, which can reduce the price difference of functions. Toshiba thinks that the reduced function is a patent, and it is the representative of Toshiba, and resolutely disagrees with the change. Midea said that you produce one according to my requirements, and I will underwrite it. Toshiba finally compromised, saying that it could help the OEM production of the United States, but it could not play the Toshiba brand. This is a scaled-down version of Midea 603 and Toshiba 60 1. It lacks three functions: photoionization sterilization and deodorization, atomized water supply in the fruit and vegetable room, and rapid thawing, while retaining the functions of rapid ice making, direct hot food placing, vegetable freezing, rapid cold storage and preservation. The material technology remains unchanged, and the price is 6-7 thousand yuan cheaper. In less than half a year, Midea 603 was in short supply and Toshiba refused to reproduce it. In the end, the two sides reached a * * * knowledge, produced according to market demand, and entered the American marketing system, and Midea was solely responsible for it.
At present, Toshiba has nearly 20 models, each with only one color, all of which are tempered glass panels. Xiangyun Gold, Satin Gold and Sakura Yarn Gold represent different series. In addition to Japanese refrigerators, China people like to add opposite doors, cross doors, French doors and Italian doors. Now all Dalian lock stores have samples, and about half of five-star villages and towns in Nanjing have samples. In many chain stores in high-end residential areas, Toshiba's sales can reach half that of the United States. Toshiba refrigerators have doubled in the past two years and turned losses into profits. I think it's American operation.
It's not a question of business methods, but a question of business philosophy and enterprise foundation.
Looking back at 1995, at that time, there were 149 Japanese companies on the list of the world's top 500 companies, and Mitsui ranked first among the top 500 companies for many years and was regarded as an invincible giant by Chinese people. Sony, Sharp, Panasonic, Hitachi, Toshiba and Sanyo are known as the six giants of Japanese household appliances, sweeping the world market. In the eyes of China people at that time, Japanese electronic products not only represented fashion, but also ensured quality.
By 20 15, only 54 Japanese companies were on the list.
What is even more surprising is that all the "Made in Japan" and "Japanese brands" of other companies except Sony and Panasonic are actually China manufacturers.
20 1 1, Haier acquired Sanyo's white electricity business in Japan, Vietnam, Indonesia, the Philippines and Malaysia.
On 20 15, Changhong acquired Panasonic Sanyo TV business, obtained the exclusive right to use Sanyo brand TV category in Chinese mainland, and undertook the R&D, production, sales and service of Sanyo brand TV.
In 20 16, Sharp Corporation of Japan accepted the capital injection of 388.8 billion yen (about RMB 22.47 billion) from Hon Hai Precision and became a subsidiary of Hon Hai.
20 16 In July, Lenovo acquired 90% shares of Lenovo -NEC Holding Company established in 2065 438+065 438+06 for about1300 million yuan (20 billion yen).
Up to now, it seems that only Sony is still on the verge of profit, and Japan's once brilliant home appliance industry no longer exists.
What's the problem in Japan? Is that it won't change at any time
Japan's design problems are always viewed from a perfect perspective, and I can't wait to take a look and think of everything in ten years. So we strive for perfection and spend a lot of time on design and development. Everyone thinks that the so-called craftsman spirit is not to make a thing to the extreme.
But he ignores the times, and he doesn't need such a good thing to move forward. Even the best things are quickly and easily abandoned by the fast-moving times.
For example, mobile phones, Japanese mobile phones have always been very elaborate, but the design time is very long.
You spent half a year designing the shape here. Huaqiang North has two versions of mobile phones.
Your mobile phone is on the market, where it has been updated for two generations.
It's hard for Japanese to have China's thinking of taking small steps and running fast to keep changing.
So it was gradually left behind by the new era.
This is Toshiba Group's strategy of thoroughly remoulding and phoenix nirvana.
In order to develop, Toshiba acquired Westinghouse Electric, which has a leading but defective nuclear power technology, and suffered heavy losses due to nuclear power leakage. In the context of nuclear power panic, selling Westinghouse is a stop-loss strategy for strong men to break their wrists.
Selling TV, air conditioner, refrigerator and other household appliances is to focus on core technologies and improve competitiveness. This kind of low-end manufacturing has intensified competition and has not brought much profit. However, Chinese mainland's labor cost is relatively low, its quality requirements are not as strict as Japan's, and its population size is more than 10 times that of Japan. Therefore, it is completely understandable that Midea, Haier or Hisense will turn losses into profits by acquiring Toshiba industry in this respect.
Toshiba is very competitive in core components, digital storage, medical equipment and other fields, and still leads in the international market.
It is normal to say that China's economy is larger than Japan's and its population area is many times larger than Japan's. But it is a bit arrogant to say that China's economy is stronger than that of Japan.
Not only Toshiba, I think it can be extended to the role of power transformation of Japanese household appliance industry and domestic household appliance industry, which is more in line with the current and topical issues.
From my own post-70 s perspective, from small to large, Sony, Toshiba, Panasonic, Sanyo, and even Siemens in Germany. In our childhood memories, these brands are not only the glory of face, but also the guarantee of quality. It should be said that they have been deeply rooted in my mind for 30 years. For example, my home was decorated on 15. The air conditioner is Daikin Mitsubishi, the refrigerator is Siemens, the washing machine is Panasonic, the range hood is Siemens, and the TV 4 is Samsung. The whole house is full of foreign brands. It seems that there is only one rice cooker at home, which is a beautiful brand that I bought a series of household appliances, and none of them are domestic brands.
Judging from today's pattern, domestic brand Gree does have a trend of catching up with foreign brands on a large scale. Why?
It should be said that the status of foreign century-old brand home appliance enterprises in the domestic market is gradually weakening, not only Toshiba, but also other foreign brands. It should be said that without China's market, no brand in the world can be called complete, and it can't maintain sustained high growth, which is determined by China's current economic development and the improvement of consumption power. And why do foreign brands not give up the China market, but gradually lose ground?
Answer this question by paraphrasing the content of CCTV consumer channel. I don't know if you have seen CCTV's "New Consumer Proposition". I saw it by accident at dinner, which was very shocking.
First, different kinds of meat can be divided into cold storage and quick freezing. Cold storage can be the same as fresh meat, with no loss of animal gravy, the same color and the same taste, while quick-frozen wedding banquets can keep the level of fresh meat, instead of direct hard cutting and quick cooking after freezing in our traditional refrigerator.
Secondly, meat, vegetables, fruits and vegetables can be kept fresh in the cold storage, and the meat can also be kept fresh. The principle is that there are sensors under each tray, which can detect different items and give them different humidity and temperature to control the fresh-keeping time of fruits, vegetables and meat.
Take this case as an example. What does this mean?
Typical aging and traditional Japanese brands lowered their product quality standards 30 years ago, and Japanese people and China consumers who used Japanese brands also accepted the refrigerator quality standards 30 years ago.
China's new product standards cater to the latest consumption habits and lazy habits of the post-90s generation. In product research and development, they firmly grasped the rhythm and law of the latest generation of life, and compared and developed a large number of novel product functions, which was really shocking. If I buy a refrigerator now, I will definitely choose a domestic brand with this function instead of Siemens.
Therefore, to sum up, foreign brands stick to the traditional quality and product standards, fail to keep pace with the times, fail to cater to the eating and cooking habits of China consumers, and fail to cater to the latest consumption habits and living habits of the post-90s and post-00s. In particular, they regard foreign markets as the starting point of product research and development, and cannot improve and upgrade products and quality standards timely and accurately according to the needs of consumers in China. For them, it is neither economical nor realistic. When China's novel products are widely used in China and then exported to the whole world, I believe that foreign users will be shocked and surprised, and they will also choose functional China household appliances and give up foreign household appliances with a century-old brand, which is determined by functionality and practical novelty.
Take a typical vortex as an example. Whirlpool is a century-old American home appliance giant. Where can I see Whirlpool products in the market now? How many people know this century-old American brand? Toshiba and Panasonic Sony, who are also following in this footsteps, will sooner or later be overtaken by China's flexibility, pragmatism, living habits and consumer demand. However, they are still traditional and slow-paced, which is their great advantage thirty years ago and their great disadvantage thirty years later.
One more thing, post-90 s and post-00 s are different from us. They have no accumulated reputation and sense of identity for foreign brands. They may be more influenced by domestic media and advertisements, and they must be more influenced by functional requirements than foreign brands!
I am engaged in the sale of industrial products, which is deeply felt. To tell the truth, management is on the one hand, and more importantly, the reaction speed within the enterprise. Let's talk about consumer appliances. Parts suppliers such as Toshiba are often Japanese product parts suppliers. Simply put, a Japanese company can make a set of articles of association for you. At present, domestic enterprises will require box labels to push QR codes. Private enterprises are simple. It takes a day or two from the request to the completion of what the customer wants and types. And what about these Japanese parts manufacturers? This format is not the same as the current product, so we have to entrust a special company to redesign it, and we have to buy this label again. A set of procedures has come down, and several months have passed, and finally the money has to be increased! When the product design changes, the reaction speed can be imagined.
As we all know, the upgrading of end consumer goods is very fast, and the slow response of traditional Japanese enterprises has led to failure. But it is undeniable that this slow response system has created stable quality, which is also the reason why the Japanese spare parts market has been expanding. It can be said that all kinds of consumer goods, Japan is withdrawing from the terminal market and turning to its spare parts market.
But there is a special case, that is Panasonic in Japan. Panasonic in Japan is still very strong. Why? Take China Matsushita Factory as an example. There will be many China people at the top. People in China have flexible working hours. Let's take a look at the dead Toshiba. Not to mention key positions in enterprises, middle-level leaders, even team leaders, may always be Japanese. Can they work flexibly?
Toshiba was acquired by the United States, which is also the reason for its rapid recovery: Toshiba has production strength, but it has no flexible market adaptability. Harmony and beauty hit it off.
To understand why Midea can bring Toshiba home appliances back to life, we must first explore why Toshiba's home appliance business is losing money.
From 20 12 to the first half of 20 15, Toshiba's household appliances business lost about 147 billion yen in three and a half years, and the loss situation continued until 20 16 years. From 2065438 to March 2006, Midea acquired 80. 1% equity in Toshiba's white goods business, injecting new "blood" into Toshiba, which was facing difficulties at that time.
The main reason for Toshiba's loss of household appliances is that the enterprise structure is bloated and the decision-making chain is too long, which leads to low operating efficiency. In other words, there is something wrong with the enterprise management model. This is a common problem of Japanese enterprises, which has accumulated for several years and was out of control when it broke out. The general disadvantages of this management model are directly related to the development of Japanese enterprises from family management to the present.
Many big companies in Japan, such as Toshiba, Panasonic and Mitsubishi. It was originally run by a family, not a modern partnership. As a result of family management, the management of the enterprise is more concerned with being responsible to the boss than seeking benefits for shareholders. The internal relations of enterprises are intertwined, and managers don't care about what products the market needs, but only carry out the orders issued by superiors. Therefore, in mid-2000, when the wave of intelligentization and internetization of home appliances was set off, Toshiba missed the transformation perfectly, and its sales volume declined all the way, resulting in operating losses.
Knowing the reasons for Toshiba's loss, let's take a look at how Midea can prescribe the right medicine.
Midea seized a key point after taking over, which is to improve the operating efficiency of Toshiba's home appliance business. Detailed analysis is reflected in the following points:
First, introduce Toshiba's business chain into Midea's IT system to improve the efficiency of the supply chain;
The second is to integrate Toshiba's household appliances business into Midea's supply chain and jointly purchase them to reduce the procurement cost of spare parts. By making full use of Midea's production base and sales network, we began to turn from defense to attack.
Third, some businesses such as refrigerators, washing machines and vacuum cleaners. Independent accounting will be introduced into internal competition to enhance business enthusiasm;
Fourth, the collaborative marketing system, Midea sent people to Toshiba for training, refined marketing content, adapted to the fierce competition in the home appliance market, and increased product sales;
Fifth, the introduction of beauty management system, clear responsibilities and rights, clear rewards and punishments;
Through Midea's drastic reform and full China market prospect, Toshiba's household appliances revenue reached 65.438+0.57 billion yuan in 2065.438+07, which was 50% higher than that of Toshiba's fiscal year 2065.438+05, and the loss situation was reversed in 2065.438+08. Less than three years after the acquisition, Toshiba's home appliance business performed well in many foreign markets. More than 30 products were launched in Thailand in the second half of 20 18; It is estimated that a new factory will be built in India in 2020; (Toshiba Household Appliances 20 12 withdrew from the Indian market); In Vietnam, Toshiba refrigerators, washing machines and other household appliances have ranked first in the Vietnamese market.
When the shrewd Japanese sold Toshiba Group's home appliance business, they didn't expect Midea to "save" those businesses that continued to lose money and had no prospects.
Really fulfilled that sentence, called thirty years down, thirty years in Hexi. Never dreamed that Toshiba, which once had unlimited scenery, was reduced to a big sale.
We are not saying that enterprises can only be good forever. If so, it will be difficult for new enterprises to be born. However, world-famous enterprises like Toshiba will also degenerate, which is a bit confusing. I feel that this market is too ruthless and incredible.
We should know that Japan, as a big producer of electronic products in the 1980s and 1990s, not only has good product quality and great influence, but also its corporate services are obviously better than those of other countries. So the products sell well in Japan, not only in Japan, but also in China and other countries and regions. Toshiba, in particular, is an established enterprise with a history of 140 years. In ten years, Japanese electronics manufacturers will have a big sale. It can be seen how fast and incredible the world's scientific and technological level has developed in the past ten years.
Of course, the bankruptcy, closure and sale of so many well-known enterprises are also inseparable from the changes in the world economic environment in the past decade. The impact and influence of the global financial crisis have caused many enterprises that had a good life to fall into crisis, and internal contradictions broke out intensively. Toshiba, for example, unexpectedly broke the problem of continuous false accounting. What else may not happen?
Therefore, for similar domestic enterprises and different enterprises, we must have a sense of crisis and urgency, and we must not be carried away by our immediate success, thinking that we will always be invincible. Successful Internet companies, in particular, must have a sense of crisis, a strong sense of crisis, and a sense of risk and risk at all times. Because of innovation, all enterprises have a sword hanging on their heads, a sword that may cut enterprises at any time.
Midea can save Toshiba mainly because of the huge market of China, not because Midea's management is better than Toshiba's. Toshiba is a poor man with no backbone and no tricks, so as to start from the inside, take the initiative to solve the problem of corporate fraud and really stand up again.
As a financial worker, I think it's really a pity that Toshiba has fallen into such a state: there is no eternal enterprise or endless business empire in this world.
As a Toshiba group, it is normal to have a tearful sale, which conforms to the operating rules or laws of the market economy. The market is a ruthless purifying agent, which keeps enterprises coming out and eliminating outdated enterprises. So the decline of Toshiba is normal.
As for Midea's coming back to life after taking over, is it a mode of operation? I don't think so. In fact, Toshiba's management model or concept is already good. As an excellent enterprise in Japan, Toshiba has its own successful marketing model. The reason why Midea was able to get out of danger after taking over, I think, was mainly due to the huge consumer market in China, and the numerous consumption in China made the electronic products produced by Midea popular. Without such a huge market of 654.38+04 billion China people, it is almost impossible for Midea to achieve such dazzling achievements today.
Toshiba Group sold in tears, but Midea was able to come back to life after taking over. Is this a Toshiba problem or a management problem? Want to know what's going on? We need to know the development of Toshiba first.
A long time ago, I'm sure you all heard of Toshiba. As a cheap product in Japan, it can be said that it has been liked by many users. It is not only cheap but also reliable and excellent in quality. It can be said that the products can be sold to Europe, America and other countries, and it is a smash hit.
There is an old saying that a full moon is a loss, and prosperity is a decline. There is no way for the development of anything to break away from this law. Toshiba, as an old brand of Japan 140, can be said to be losing money for years, but in desperation, it can only be acquired by Midea.
However, it is not enough for Midea to acquire all the products, and after 40 years of authorization, it can be said that Midea sold most of Toshiba's products to the China market, thus saving Toshiba's life. What should Midea do after the 40-year authorization expires? Is it not just a wedding dress?