2025 (Current Year) Faculty Courses School of Environment and Society Department of Technology and Innovation Management Graduate major in Technology and Innovation Management

Corporate Finance II

Academic unit or major: Graduate major in Technology and Innovation Management
Instructor(s): Mitoshi Yamamoto
Class Format: Lecture (Livestream)
Media-enhanced courses: -
Day of week/Period (Classrooms): 11-12 Mon
Class: -
Course Code: TIM.A535
Number of credits: 100
Course offered: 2025
Offered quarter: 4Q
Syllabus updated: Sep 10, 2025
Language: Japanese

Syllabus

Course overview and goals

In this course, we will examine corporate value and risk from a more practical perspective, building on the concepts covered in Corporate Finance I.
We will also discuss how ESG (SDGs), climate change, and other factors influence financial trends.
At least once during the course, we plan to invite an external lecturer (a professional from the financial industry).

Course description and aims

1. Fundraising methods to enhance corporate value
2. Considering methods of corporate valuation
3. Considering how ESG impacts corporate value

Keywords

Investment theory, M&A, ESG

Competencies

Specialist skills
Intercultural skills
Communication skills
Critical thinking skills
Practical and/or problem-solving skills

Class flow

Corporate Finance 1 mainly covers the basics, while Corporate Finance 2 focuses more on financial theory and recent practical developments (such as SDGs). Questions may be asked at any time during class (via chat or voice). In addition, there will occasionally be breakout sessions for group discussions of 4 to 6 people, lasting about 10 minutes. Participants who wish to leave during these sessions may do so.

Course schedule/Objectives

	Course schedule	Objectives
Class 1	Present Value	Understand the following points: (a) Why do we even need to learn the theory? (b) Let's try calculating present value (c) With and without risk: Present value of cash flows
Class 2	Stock Value and Corporate Value	Understand the following points: (a) What is finance in the first place, and what are financial instruments? (b) The logic behind financial instrument pricing (c) The theory behind bond pricing (d) DCF (Discounted Cash Flow), DDM (Dividend Discount Model), etc.
Class 3	Basics of Investment Decision-Making	Understand the following points: Basics of Investment Decision-Making (a) Discounted Cash Flow (DCF) (b) Net Present Value (c) Internal Rate of Return
Class 4	Cost of Capital (Cost needed to maintain capital)	Understand the following points: (a) Is cost of capital important? (b) Definition of cost of capital (c) Cost of equity and cost of debt (d) Weighted Average Cost of Capital (WACC)
Class 5	Basic Knowledge of Capital Structure and Dividend Policy	Understand the following points: (a) What are capital structure and dividend policy in the first place? (b) MM Theory (c) Leverage (d) If only there were no corporate taxes... (e) The reality of dividends: Taxes and clientele effects
Class 6	Application of Capital Structure, Dividends, and Derivatives (Derivatives may be omitted)	Understand the following points: (a) Capital structure and dividends (b) Agency theory (c) Signaling effect (d) Derivatives (futures, swaps, etc.)
Class 7	ESG and Bias	Understand the following points: (a) ESG and business value (b) MDGs and SDGs (c) Bias and corporate governance (d) Summary of sections 1 through 7

Study advice (preparation and review)

In 4Q, I will talk new movement of corporate finance. I hope those who come to the class learn by themselves new movement of corporate finance

Textbook(s)

None

Reference books, course materials, etc.

Yamamoto, Mitoshi.「本当にあった事件でわかる金融と経済の基本」日本実業出版社 [Understanding the basics of finance and economics through real-life incidents]. Tokyo: Nihon Jitsugyo Publishing. (in Japanese)

Evaluation methods and criteria

Evaluate the understanding of the fundamentals and theory of corporate finance
100% based on the report; however, communication during class discussions and breakout sessions may also be positively considered.

Related courses

Corporate Finance Ⅰ

Prerequisites

None

Contact information (e-mail and phone) Notice : Please replace from ”[at]” to ”@”(half-width character).

Mitoshi Yamamoto m.yamamoto[at]ccrcenter.jp

Office hours

Contact by e-mail in advance to schedule an appointment.