This project was undertaken after determining the market potential and compatibility with the JFE Shoji Group, based on the governance structure in place to operate the business locally as a group with the establishment of JFE Shoji America Holdings, and the accumulated business management experience of past M&A companies. Based on this situation, JFE Shoji Group began to consider investing in the thin sheet construction materials field, where demand is large and stable growth is expected.

The target company for M&A is a company that has grown in a different culture and business practices, and this is the first M&A of a U.S. company for JFE Shoji since 2014. Although each member of the JFE Shoji America Holdings review team was a professional with different areas of expertise, none of them, including myself, had experience in corporate M&A, except for the project supervisor. No one had corporate M&A experience, including myself, except for the project manager. With all of the team members having no experience, we carefully considered whether an M&A with CEMCO would be a worthwhile investment for JFE Shoji. What kind of scheme would be the most efficient way to execute the M&A investment, and would it be possible to take over the business without delay from the date of M&A execution? We were required to design the M&A scheme from both institutional and practical perspectives in a precise manner.

In this project, I was in charge of the secretariat function in support of the study team. In addition to managing the overall progress of the project, I worked with the study team to analyze CEMCO's risks and integrate value assessments, and I also promoted the fundamental M&A tasks, such as examining M&A procedures and verifying whether the price was appropriate, in cooperation with internal and external experts.

Specifically, when examining the procedures for M&A, we researched and studied the most appropriate scheme for the target company's M&A, and closely examined what precautions should be taken to ensure that the existing operations could continue without interruption from the date of M&A. In addition, for the calculation of the price, we worked closely with the seller to ensure that the price would be appropriate. In addition, with regard to the calculation of price, we were asked how to derive a reasonable amount of money amidst the intersecting interests of both the seller and the buyer. As a long-time member of the Finance & Accounting Department since joining the company, I had experience and expertise in "looking at company valuations in figures," so I put all of my knowledge to use as I worked with the team members on the study.

Through this M&A project, I realized once again that "JFE Shoji's strength lies in teamwork. The fact that the project was able to proceed smoothly despite the team's large number of inexperienced members was due to the fact that each member was able to take the initiative in his or her own area of expertise and flexibly incorporate the knowledge and ideas of others. JFE Shoji has a deep-rooted culture of "solving problems as a team," and this attitude has been carried through in this project.

No matter how busy we were, if someone was in trouble, we would lend a hand and work together to find the best solution. I feel that this kind of atmosphere was present even in the new challenge of local leadership. I also strongly felt the "ability to break through," as stated on the recruitment website. Individuals can open up the next path by making breakthroughs on their own, without being bound by the framework of the organization. I feel that the culture of JFE Shoji, where initiative and cooperation coexist, was the driving force behind the success of this project.

Through this project, I strongly felt that "people who are willing to dive into uncharted territory and enjoy working with a team to complete a task" are the kind of people who can truly demonstrate their value at JFE Shoji. I myself had no experience in M&A, and the project began with little precedent within the company in terms of local initiative. To be honest, I was not without anxiety. However, I found the process of working hand in hand with my colleagues, bringing together knowledge, taking action, and overcoming obstacles to be very stimulating and rather enjoyable. That is why it is most important to be open-minded enough to learn from perspectives that you do not have and to be flexible enough to absorb them. If you are someone who is not afraid to take on new challenges and who finds joy in working with others, you will surely grow a lot in this environment.

My goal is to pass on the know-how of the projects I have experienced to the next generation and to expand opportunities for them to take on new challenges. I believe that JFE Shoji is a field with great potential for those who want to take on challenges together with their team on the global stage.