Research On Financial Risks Management Of Hisense Visual's Cross-border M&A Of Toshiba Visual Solutions Corporation

Since the reform and opening up,the domestic home appliance industry has developed rapidly,and the market competition environment has matured.In order to increase the international market share,or obtain the core technology of product development of target companies,and promote the rapid development of the home appliance industry,many domestic home appliance companies have chosen crossborder mergers and acquisitions.Cross-border mergers and acquisitions are a complex and continuous economic activity,which involves all aspects of the enterprise,and there are many financial risks that affect the production and operation of the enterprise.In November 2017,Hisense Video spent 355 million yuan on cross-border mergers and acquisitions of Toshiba Impression Solutions.In this cross-border merger and acquisition,Hisense Video has significant financial risks.Therefore,this article selects a typical case of cross-border M & A in the home appliance industry to study the financial risk management of cross-border M & A.On the basis of consulting a large number of domestic and foreign literatures,this paper first determines the relevant concepts and theoretical knowledge of cross-border mergers and acquisitions and financial risk management;second,it reviews the merger and acquisition of Toshiba TVS by Hisense Video Cross-border M & A,and identifies and analyzes the Financial risk;again,on the basis of risk identification,select reasonable indicators for each specific risk,establish a fuzzy comprehensive evaluation model,evaluate the financial risk of Hisense Video 's cross-border M & A Toshiba TVS;Like risk management measures,sum up related issues and make relevant suggestions in a targeted manner.In this cross-border M & A case,the overall M & A risk level is “moderate risk”,among which the pricing risk,payment risk,debt service risk and integration risk score are high,and Hisense Video needs special attention.Taking the case of Hisense Video 's cross-border M & A Toshiba TVS as an entry point,study its financial risk management in the process of cross-border M & A,identify relevant issues in risk management,summarize lessons learned,strengthen Hisense 's risk prevention capabilities Lay the foundation for cross-border mergers and acquisitions.