Akatsuki Translations

The shareholders’ meeting was held in the grand hall of the Archduchess’s mansion. While not as large as the academy’s, it could easily accommodate a wedding ceremony.

In the center of the hall, people from entirely different backgrounds sat around a circular table. On the right side sat the Vinder faction – myself, Mia, and my old man – representing the commoners. Opposite us were Alfina and the Archduchess, representing the nobility and royalty. The round table seemed precariously balanced.

Behind the Archduchess stood her usual butler and maid, along with a monochrome middle-aged man introduced earlier as the financial officer. Her eyes held no contempt when looking at us, but her expression remained stubbornly impassive.

Incidentally, Mia tried to stand behind us, but the Archduchess stopped her. As an invited guest, she was to be seated. Fine by me – I’ve never thought of her as just a servant or subordinate anyway.

“Let’s begin,” the Archduchess said, glancing at me.

My father stood up. In any other setting, he might have sighed.

“As the manager, I will explain the future business policy of the Vinder Company,” he began formally, then launched into an explanation of the honey business. Once he started talking, all traces of fear or nervousness vanished. His ability to perform under pressure was reassuring at times like these.

With the Archduchess’s investment and the loan from Kenwell based on that credit, we had the capital for business expansion. Most importantly, we had the Archduchess’s backing to protect the business. The new Guild Leader was tentatively an ally. We were no longer the copper trading company cowering before Drefano.

Everything was in place for beekeeping to realize its full potential.

Leiria Village, now part of Alfina’s domain, had started increasing production without restraint. Plans were underway to introduce beekeeping in several villages, primarily within the Archduchess’s territory. Experienced villagers from Leiria would be dispatched to villages starting new beekeeping operations.

While it wasn’t feasible as a side job to farming, at this scale we could guarantee wages for dedicated workers. Even orphans in the villages were given jobs in unused fields or related to beekeeping itself.

The market for copper honey was limited to urban citizens. Our goal of creating a new market for sweets among citizens remained unchanged. However, through our partnership with Plura, it was beginning to gain a reputation as an ingredient for noble confections. Eventually, we could target the upper market – the nobility. Combined with our official merchant status, we could easily overturn any past bad reputation.

Mia handed my father some papers. The previously expressionless financial officer began scribbling furiously upon hearing the projected earnings for this season. Understandable, given that while it was a small fraction compared to the Archduchess’s territorial management, the profit margin was extraordinary and set to expand further.

Moreover, it was close to unearned income. While revenue from territories could be large, the management overhead was equally enormous, with the possibility of losses in some years. It’s no wonder he wanted to start calculating.

Considering how difficult it is to buy safety from a safe partner, we had no complaints either.

“For final confirmation, the investment ratio is 30 for myself as company president, 7 for director Ricado, totaling 37. Your Grace, the Archduchess, holds 63,” my father concluded.

However, this gave me pause. About two-thirds of Vinder would belong to the Archduchess. It was tantamount to losing our independence. Currently, my father managed operations, and the Archduchess had no incentive to overturn that, but still.

In a situation without legal backing, shareholders’ rights and rules were essentially just pieces of paper. If the Archduchess decided to, yesterday’s Carst could become tomorrow’s Vinder.

Trust the Archduchess because she’s reliable? If we’re assuming eternal trust, we wouldn’t need rules or systems in the first place.

“I’d like to make one modification,” the Archduchess interjected. “My share will be 49. The remaining 14 will be Alfina’s investment.”

So this was why the shareholders’ meeting was scheduled for a day Alfina could attend. Judging by my father’s lack of surprise, he must have known. This would bring the Archduchess’s share to less than half. Not a bad development, but still…

“I look forward to working with you all. Now we’re all in the same position as shareholders, aren’t we?” Alfina said with a smile.

“…There’s still twice the difference, major shareholder,” I joked, masking my expression.

As the feudal lady of Leiria, Alfina was a proper stakeholder. I knew she had helped persuade the Archduchess, along with Luitza who had seen the management of the Consort’s Festival. She had apparently used her experience at Vinder to explain things to the Archduchess.

Even so, or perhaps because of that, Alfina’s words and expression nagged at me.

“Now then, Alfina has a proposal,” the Archduchess announced.

Alfina turned her gaze to the person next to me. I wondered what she was about to say.

“I’m transferring half of my shares to Mia,” she declared.

“What?!” “Huh??”

I let out an absurd cry. Even the usually composed Mia was frozen in surprise.

I had no objections to Mia owning part of the company. My father liked her enough to consider adopting her, and we naturally intended to welcome her as a partner in the future. Purely in terms of ability, Mia was more than worth it.

Still, something felt off about this.

Mia stood up. I finally realized – her dress was prepared to show she wasn’t here as a servant. It was all part of the surprise gift.

I understood the source of my discomfort. It felt like we were being made to play along with a noble’s game in a business setting. Despite all our explanations, the princess hadn’t truly understood after all.

Even so, I had no reason, right, or benefit to stop it. As a small act of resistance, I looked at the Archduchess. Wasn’t it the guardian’s role to advise against such things?

“With all due respect, stocks are not to be used for such trivial matters,” Mia stated firmly, drawing everyone’s attention. She stood as an equal to the Archduchess, the princess, and us, her employers. What she was refusing was equivalent to decades of income for a farmer. No, considering the dividends, even if half of our business plan came true, it would be enough to live comfortably for life.

Mia had firmly rejected it. She had clearly stated that the system we had devised and worked hard to establish was not a game of make-believe.

“It’s not a problem. This is your reward for helping prevent the monster flood. Such an achievement in averting a national crisis must be recognized,” the Archduchess said, shaking his head. Indeed, I had been concerned that by transferring the credit to myself, I had also transferred Mia’s contributions in data collection and calculations. Hmm…

“Then please give my reward to Senpai… to Ricado. I am Ricado’s subordinate,” Mia countered.

“That won’t do. That activity was conducted under Fuglsig’s supervision. Officially, as students, you and Ricado are equals. You should be rewarded separately. Since Alfina’s investment is paid from Leiria’s taxes, it’s not unreasonable to use part of it as your reward,” the Archduchess explained.

“But… but still…” Mia stammered.

No matter how many reasons were given, this was clearly the result of Alfina’s idealistic thinking. Three friends, each with seven percent. Regardless of social status differences, they would be equal as shareholders.

But I found myself starting to think that if it could be justified this well, maybe it wasn’t so bad. I couldn’t help but feel a warmth from this overly sweet approach.

Mia’s words before coming here, that she was merely an attendant – I realized that being able to deny that was actually pleasing to me as well.

“Just accept it. Or are you trying to obstruct the management’s voting rights?” I said.

Mia bowed her head with a tearful smile when I spoke.

“I understand. Alfina-sama, I gratefully accept,” she said.

“Yes, I look forward to working with you, Mia-senpai,” Alfina smiled.

Maybe this was fine for her. Relying on interests and rules was the way of a schemer lacking in virtue, like myself. Well, further shareholder education would still be essential.

◇◇

“Well then, Ricado, we’ll talk later,” the Duchess said.

“Senpai, I’ll be going now,” Mia added.

Alfina and Mia headed off together towards the bath. Two girls in the bath together, how enviable… No, that’s not what I should be thinking.

“Did you want to join them?” the Duchess teased.

“…Please don’t joke about that,” I replied, forcing my eyes away from imagining the two girls’ figures and back to the noblewoman before me. The fact that she had kept me behind obviously wasn’t to monitor for peeping. By the way, my old man, having finished his big role, had retreated to the room assigned to him.

“What did you think of that arrangement earlier?” she asked.

“To be honest, I thought it was too lenient,” I answered frankly.

“Indeed. But your association with them is likely to be a long one. It’s about giving appropriate responsibility and rights to the next generation. This, too, is a way of utilizing the stock system,” she explained.

If the three of us agreed, we’d have 21 percent. In other words, if the Archduchess and my father were to be at odds, whichever side we three unanimously supported would win. Also, if all three of us agreed on something, we’d only need to persuade one of them to get it passed. In a sense, the academy group held the casting vote.

Considering the timespan of Vinder’s goal to establish a general trading company, it’s true that we would have to shoulder responsibility. Seen this way, it could be said that she believed in our long-term potential.

“If you’ve considered it that far,” I said, deciding to let go of my last reservations.

“That girl’s words were impressive, weren’t they? She’s too good for you,” the Duchess remarked.

“I know that,” I admitted.

“Indeed, Alfie is certainly naive. At first, I tried to stop her too. I said that doing something so carelessly might actually harm their friendship. But she said such cute things, like feeling that she needed to be on equal footing with that girl. Hehe, I wonder how much she herself understands…”

The Duchess added something I didn’t quite understand to my nearly convinced self. But that wasn’t the important thing right now. I looked straight at the normally untouchable power holder.

“So, why did you keep me behind?” I asked directly.

Before mixing business and friendship, there’s a line that needs to be drawn clearly. Relationships with royalty can’t be treated as mere friendship, regardless of the individuals’ intentions. At least, others won’t see it that way. This is evident from the baseless rumors circulating in the academy about me being Alfina’s favorite.

Now that Mia was involved, I needed to clarify what the Archduchess needed and to what extent.

“Of course, it’s also for our convenience. Looking ahead, Alfie will need solid allies. That’s what we’re going to discuss now. There’s a good place for this, follow me,” the Archduchess said, pointing down the hallway with her fan.

Saying something frightening, she gestured towards the corridor. Well, well, onto the second main event. This was about risk management, far more important than profit distribution.