"So why can't he use the certificate in Japan as collateral? Or sell it? Or exchange it for the bonds? Why involve us?"

"There are regulatory reasons why it can't be used as collateral by a Japanese bank. As for selling it locally or exchanging it, Ogata does not want it to be known that he is doing this."

"Why not? I thought you said that ownership is fully transferable."

"It is. However, there are implications. And in Ogata-san's business, much political good will is necessary."

"You mean, it would be considered kind of like unpatriotic to unload this?"

Hussain hesitated, then nodded.