＜Elementary＞ Lesson No.2
Cross-border M&A Financing Negotiation / クロスボーダーM&A案件の資金調達交渉
０．Greetings & Ice-break (2min.)｜挨拶と導入
0-1 Greetings
Let’s practice a short small talk that you can use to greet a business partner and start building a good relationship.
講師との挨拶を兼ねて、ビジネスパートナーと信頼関係を築くための短いスモールトークを練習してみましょう。
[Tips / 会話のヒント]
・Can you hear me clearly?
私の声はクリアに聞こえますか？
・How's your day going so far?
今日はどんな一日でしたか？
・Talk about one small topic (Work, Weather, News, Hometown, Sports event, etc.)
軽い話題について話しましょう（仕事、天気、ニュース、地元、スポーツイベントなど）
0-2 Introduction
In today’s lesson, we’ll learn about the following situation. Have you ever experienced something similar?
本日のレッスンでは以下のようなシチュエーションについて学びます。同様のシチュエーションを経験したことがありますか？
- If you have experience, please tell us what it was like, what was difficult, or what you learned.
経験があれば、どんな内容だったか、難しかったことや学んだことなどを教えて下さい。
- If you don’t have experience, try to imagine yourself handling that situation in English.
What do you think would be challenging?
経験がなければ、英語でその状況に対応しているところを想像してみましょう。どんなことが難しそうですか？
Situation / シチュエーション
Negotiating optimal funding conditions with overseas investment banks for acquisition financing, including interest rates, collateral, and repayment terms.
海外企業買収の資金調達について、海外投資銀行と金利や担保条件などの融資スキームを交渉する場面です。
1. Read (2 min)｜型を学ぶ
Let's read the following key sentences aloud!
下記の文章や単語を順番に音読しましょう！
1-1 Basic phrases
１．We need ... for acquiring...（...を買収するために...が必要である）
２．We expect to complete...（...を完了する予定である）
３．We are looking for a fixed interest rate...（固定金利を探している）
４．We prefer a ... repayment period with...（...付きの...返済期間を希望する）
５．Let me explain our situation in detail（状況を詳しく説明させてください）
６．We can accept a slightly higher rate if...（...であればやや高めの金利も受け入れ可能）
７．We will discuss ... with our client and get back to you...（顧客と...を協議し...にご連絡する）
1-2 Essential words
１．acquire（買収する）
２．complete（完了する）
３．flexible（柔軟な）
４．collateral（担保）
５．explain（説明する）
６．reduce（低減する）
７．accept（受け入れる）
８．discuss（協議する）
９．appreciate（感謝する）
１０．finalize（最終化する）
2. Try (3 min)｜ロールプレイ練習
Let’s practice the role-play.
ロールプレイの練習をしましょう！
Situation / シチュエーション（Reference again）
Negotiating optimal funding conditions with overseas investment banks for acquisition financing, including interest rates, collateral, and repayment terms.
海外企業買収の資金調達について、海外投資銀行と金利や担保条件などの融資スキームを交渉する場面です。
👨💼【Teacher / Investment Banker】:
Thank you for meeting with us today. We received your financing request for the acquisition. Could you explain the total amount you need and the expected timeline for this deal?
（本日はお時間をいただきありがとうございます。買収資金調達のご依頼を拝見しました。必要な総額と取引の想定スケジュールをご説明いただけますか？）
🧑🎓【Student / International Sales, Securities】:
Thank you for your time. We need 500 million USD for acquiring a European manufacturing company. We expect to complete the deal within 6 months from today.
（お時間をいただきありがとうございます。欧州の製造会社買収のため5億米ドルが必要です。本日から6か月以内に取引を完了する予定です。）
👨💼【Teacher / Investment Banker】:
I see. What interest rate and repayment terms are you expecting? We need to understand your requirements before we prepare our proposal.
（承知しました。どのような金利と返済条件をお考えですか？提案を準備する前に、御社のご要望を理解する必要があります。）
🧑🎓【Student / International Sales, Securities】:
We are looking for a fixed interest rate below 4 percent per year. We prefer a 10-year repayment period with no early repayment penalty. We also need flexible collateral terms because our client has limited assets available right now.
（年4パーセント未満の固定金利を希望しています。早期返済違約金なしの10年返済期間を希望します。また、顧客が現時点で利用可能な資産が限られているため、柔軟な担保条件が必要です。）
👨💼【Teacher / Investment Banker】:
I understand your needs, but 4 percent may be difficult given current market conditions and the risk level. We also require clear collateral to manage our risk. Could you provide more details about the assets your client can offer?
（ご要望は理解しましたが、現在の市場環境とリスク水準を考えると4パーセントは難しいかもしれません。また、リスク管理のため明確な担保が必要です。御社の顧客が提供できる資産について詳細をご提供いただけますか？）
🧑🎓【Student / International Sales, Securities】:
Let me explain our situation in detail. First, our client can offer shares of the target company as collateral after the acquisition. Second, the client has strong cash flow from existing operations, which reduces repayment risk. Third, we can accept a slightly higher rate if you offer flexible terms on collateral and fees.
（状況を詳しくご説明します。第一に、顧客は買収後に対象会社の株式を担保として提供できます。第二に、顧客は既存事業から強固なキャッシュフローがあり、返済リスクが低減されます。第三に、担保と手数料について柔軟な条件をご提示いただければ、やや高めの金利も受け入れ可能です。）
👨💼【Teacher / Investment Banker】:
That helps clarify things. If your client agrees to provide the target company shares and guarantees from the parent company, we can consider a rate around 4.5 percent. We will also reduce our arrangement fee by 0.2 percent if you confirm the deal structure by the end of this month. Does that work for you?
（それで状況が明確になりました。御社の顧客が対象会社株式と親会社保証の提供に同意すれば、4.5パーセント前後の金利を検討できます。また、今月末までに取引構造をご確認いただければ、アレンジメントフィーを0.2パーセント引き下げます。それでよろしいでしょうか？）
🧑🎓【Student / International Sales, Securities】:
Thank you for the offer. The rate and fee reduction are acceptable. We will discuss the parent company guarantee with our client and get back to you within 3 business days. We appreciate your flexibility on this matter.
（ご提案ありがとうございます。金利と手数料引き下げは受け入れ可能です。親会社保証について顧客と協議し、3営業日以内にご連絡いたします。この件での柔軟なご対応に感謝いたします。）
👨💼【Teacher / Investment Banker】:
Perfect. Please send us the updated collateral details and your client's financial statements by email. Once we receive those documents, we will finalize our proposal and schedule a follow-up meeting. I look forward to working with you on this deal.
（完璧です。更新された担保詳細と御社顧客の財務諸表をメールでお送りください。それらの書類を受領次第、提案を最終化しフォローアップ会議を設定します。この取引でご一緒できることを楽しみにしています。）
3. Use (4 min)｜ロールプレイ & 実践（空欄補完）
Let's perform the role-play and fill in the blanks by translating the Japanese into English!
空欄の日本語を英語に訳しながら、ロールプレイを実践してみましょう！
Situation / シチュエーション（Reference again）
Negotiating optimal funding conditions with overseas investment banks for acquisition financing, including interest rates, collateral, and repayment terms.
海外企業買収の資金調達について、海外投資銀行と金利や担保条件などの融資スキームを交渉する場面です。
👨💼【Teacher / Investment Banker】:
Thank you for meeting with us today. We received your financing request for the acquisition. Could you explain the total amount you need and the expected timeline for this deal?
🧑🎓【Student / International Sales, Securities】:
Thank you for your time. We need 500 million USD for ［買収する］ a European manufacturing company. We expect to ［完了する］ the deal within 6 months from today.
👨💼【Teacher / Investment Banker】:
I see. What interest rate and repayment terms are you expecting? We need to understand your requirements before we prepare our proposal.
🧑🎓【Student / International Sales, Securities】:
We are looking for a fixed interest rate below 4 percent per year. We prefer a 10-year repayment period with no early repayment penalty. We also need ［柔軟な］ ［担保］ terms because our client has limited assets available right now.
👨💼【Teacher / Investment Banker】:
I understand your needs, but 4 percent may be difficult given current market conditions and the risk level. We also require clear collateral to manage our risk. Could you provide more details about the assets your client can offer?
🧑🎓【Student / International Sales, Securities】:
Let me ［説明する］ our situation in detail. First, our client can offer shares of the target company as collateral after the acquisition. Second, the client has strong cash flow from existing operations, which ［低減する］ repayment risk. Third, we can ［受け入れる］ a slightly higher rate if you offer flexible terms on collateral and fees.
👨💼【Teacher / Investment Banker】:
That helps clarify things. If your client agrees to provide the target company shares and guarantees from the parent company, we can consider a rate around 4.5 percent. We will also reduce our arrangement fee by 0.2 percent if you confirm the deal structure by the end of this month. Does that work for you?
🧑🎓【Student / International Sales, Securities】:
Thank you for the offer. The rate and fee reduction are acceptable. We will ［協議する］ the parent company guarantee with our client and get back to you within 3 business days. We ［感謝する］ your flexibility on this matter.
👨💼【Teacher / Investment Banker】:
Perfect. Please send us the updated collateral details and your client's financial statements by email. Once we receive those documents, we will finalize our proposal and schedule a follow-up meeting. I look forward to working with you on this deal.
4. Challenge (7 min)｜応用実践
Let's perform the role-play and fill in the blanks by translating the Japanese into English!
空欄の日本語を英語に訳しながら、ロールプレイを実践してみましょう！
*Let's practice this part repeatedly until we can speak it smoothly.
このパートはスムーズにスピーキングできるようになるまで繰り返し練習しましょう。
Situation / シチュエーション（Reference again）
Negotiating optimal funding conditions with overseas investment banks for acquisition financing, including interest rates, collateral, and repayment terms.
海外企業買収の資金調達について、海外投資銀行と金利や担保条件などの融資スキームを交渉する場面です。
👨💼【Teacher / Investment Banker】:
Thank you for meeting with us today. We received your financing request for the acquisition. Could you explain the total amount you need and the expected timeline for this deal?
🧑🎓【Student / International Sales, Securities】:
Thank you for your time. ［欧州の製造会社買収のため5億米ドルが必要です。］ ［本日から6か月以内に取引を完了する予定です。］
👨💼【Teacher / Investment Banker】:
I see. What interest rate and repayment terms are you expecting? We need to understand your requirements before we prepare our proposal.
🧑🎓【Student / International Sales, Securities】:
［年4パーセント未満の固定金利を希望しています。］ ［早期返済違約金なしの10年返済期間を希望します。］ We also need flexible collateral terms because our client has limited assets available right now.
👨💼【Teacher / Investment Banker】:
I understand your needs, but 4 percent may be difficult given current market conditions and the risk level. We also require clear collateral to manage our risk. Could you provide more details about the assets your client can offer?
🧑🎓【Student / International Sales, Securities】:
Let me explain our situation in detail. First, our client can offer shares of the target company as collateral after the acquisition. Second, the client has strong cash flow from existing operations, which reduces repayment risk. Third, we can accept a slightly higher rate if you offer flexible terms on collateral and fees.
👨💼【Teacher / Investment Banker】:
That helps clarify things. If your client agrees to provide the target company shares and guarantees from the parent company, we can consider a rate around 4.5 percent. We will also reduce our arrangement fee by 0.2 percent if you confirm the deal structure by the end of this month. Does that work for you?
🧑🎓【Student / International Sales, Securities】:
Thank you for the offer. The rate and fee reduction are acceptable. ［親会社保証について顧客と協議し、3営業日以内にご連絡いたします。］ We appreciate your flexibility on this matter.
👨💼【Teacher / Investment Banker】:
Perfect. Please send us the updated collateral details and your client's financial statements by email. Once we receive those documents, we will finalize our proposal and schedule a follow-up meeting. I look forward to working with you on this deal.
\ If you have some extra capacity, give it a try（余力があればやってみましょう）/
5. Real-world application (5 min)｜実務応用
Let's speak freely with the phrases and flow we learned today. If you can, imagine your real job—it makes practice more effective.
本日学習した単語やフレーズ、会話の流れを思い出しながら、自由に話してみましょう。可能であれば、自身の実務を想像しながら話すと効果的です。
Situation / シチュエーション
Your client needs financing for an overseas acquisition and you must negotiate loan terms with an investment bank.
The bank requires clear collateral and reasonable interest rates based on their risk management standards.
顧客が海外買収のための資金調達を必要としており、投資銀行と融資条件を交渉しなければなりません。
銀行はリスク管理基準に基づき明確な担保と妥当な金利を求めています。
👨💼【Teacher / Investment Banker】:
Thank you for reaching out. Could you walk me through your financing needs and what terms you have in mind for this acquisition?
（ご連絡ありがとうございます。資金調達のニーズと、この買収についてお考えの条件をご説明いただけますか？）
🧑🎓【Student / Your Role】:
(Free Speaking based on today's lesson)
Hints / ヒント
１．Explain the financing amount and timeline（資金調達額とスケジュールを説明する）
２．Describe preferred interest rate and repayment terms（希望金利と返済条件を述べる）
３．Clarify available collateral options（利用可能な担保の選択肢を明確にする）
４．Offer flexibility on terms in exchange for better conditions（より良い条件と引き換えに条件面での柔軟性を提示する）
※This is not a role-play. Please speak until you finish your thoughts.
このパートはロールプレイ形式ではありません。最後まで通して話してみましょう。
6. Wrap-up (2 min) ｜レッスンの振り返り
Let's review today's lesson with your teacher!
今日のレッスンについて講師と振り返ってみましょう！
6-1 Comments from student
・Good points / 良かったところ・上手くできたところ
・Things to work on / 今後強化したいところ
6-2 Feedback from teacher
・Good points / 良かった点
・Things to work on / 今後の強化ポイント
・What to review / 復習ポイント
*6-3 Questions from student (if any)
Japanese translation（日本語訳）
1. Read (2min)（型を学ぶ）｜基本フレーズ
2. Try (4min)（ロールプレイ練習）｜型を使った練習
Let’s practice the role-play.
ロールプレイの練習をしましょう！
3. Use (7min)｜応用
Let’s perform the role-play and filling in the missing English!
英語を補完しながら、ロールプレイを実践してみましょう！
4. Challenge (7min)｜実践
Let’s perform the role-play and filling in the missing English!
英語を補完しながら、ロールプレイを実践してみましょう！
5. Wrap-up (3min) – レッスンの振り返り
"Let’s review today’s lesson with your teacher!”
「今日のレッスンについて講師と振り返ってみましょう！」
5-1. Comments from Student
- Good points / 良かったところ・上手くできたところ
- Things to work on / 今後強化したいところ
5-2. Feedback from Teacher
- Good points / 良かった点
- Things to work on / 今後の強化ポイント
- What to review / 復習ポイント
5-3. Question from Students (If any)