Muzhi - Graduate School of Economics, Waseda University, Japan
MSc Finance and Investment (QTEM)
Current job: Analyst, Strategy and Investment Department, Fosun Group - Yuyuan Inc. China
Exchange University: Graduate School of Economics, Waseda University, Japan
QTEM internship: Credit Analyst Intern, Yahao Capital, Shanghai
“I first heard of the QTEM programme during the orientation for my programme. I decided to apply as I felt it would help widen my horizons, and experience a different culture by studying in an additional international environment. I spent my semester abroad for the QTEM programme at the Waseda University in Tokyo, Japan, because it is known as the best private university in Japan and has over 5,000 international students – the largest number in Japan. It is also top in Japan for employability with alumni working all over the globe.
As part of the QTEM programme you are also required to take an internship. I worked as a Credit Analyst Intern at Yahao Capital, a private equity company in Shanghai, China. I found the job through a recommendation from a college classmate who was also a working at Yahao. After two rounds of interviews, testing my financial knowledge and research skills with the investment bank director and executive director respectively, I was offered an internship. There were three sessions (self-introduction, case and presentation) in my first-round interview with the investment bank director. In the second session, I was given 8-year financial statements of an anonymous company, and I needed to analyse liquidity and solvency of the company to evaluate its debt-paying ability. In the final session, I was asked to make a presentation about the real estate industry. In the second-round interview with executive director, I was asked to give my view on recent commercial news and new asset management regulations in China.
My internship was mainly working with senior analysts constructing a standardised credit rating system for bond selection and supporting portfolio construction. I also communicated with bond sales to detect investment opportunities, which fitted with our portfolio requirements. From this experience, I became familiar with the bond market and learnt the basic framework of credit analysis and the application of financial terminals, such as Wind and Bloomberg, in business.
I have found that when companies look at potential employees particularly in China, they prefer candidates with international experiences. My time at both Exeter and Waseda have enriched my experiences and given me a broad international vision and an edge over other graduates.
Since graduation, I have been working for Yuyuan Inc. which is the flagship investment platform of Fosun Group. As a listed company in Shanghai Stock Exchange, Yuyuan Inc. operates one of the top three gold and jewellery chains in China, commercial properties in Shanghai and Suzhou City and several well-known restaurant brands. Yuyuan Inc. is always looking for opportunities to acquire targets in the F&B industry, entertainment industry, luxury product/brands in Europe, North Asia, USA and Canada. We are an active investor and growth capital style.
So far in my role, I have supported projects by conducting financial and commercial due diligence for target companies and reported my findings to the investment committee. I have also developed, interpreted and presented financial models for a $15M acquisition of a target company in the F&B industry. Another key part of my role has been conducting in-depth research on over 1,300 China time-honoured brands, who are approved by the Ministry of Commerce, generating investment strategies for these brands and sourcing over 10 related deals.”