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Shiro Nishimura revealed how he had to sell more than 13,000 heads of cattle, farms, and almost all of the family’s rural assets to prevent Jacto from going bankrupt during the crisis caused by the Collor Plan, which froze bank resources in Brazil and left the company, with about 1,300 employees, without capital to maintain its operation.
Collor Plan hit the farm and Jacto’s cash flow
The account of Shiro Nishimura, a cattle rancher recognized for his selection of Nelore cattle and the consolidation of Fazenda Araponga, exposes the direct impact of the financial freeze on rural producers and Brazilian companies in the early 1990s.
In episode #186 of the AGRO360 Podcast, hosted by Rafael Vilella, he recalled that the crisis began suddenly. Upon arriving at the farm, he was informed by the accountant that there were only 50 dollars in the account.
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Shiro mentioned that he always kept enough reserve for two months of farm expenses. The money was used to pay employees, vaccines, maintenance, and other costs of livestock activity.
With the resource freeze, the farm’s routine was interrupted. In livestock, payment for slaughtered cattle could take up to 30 days, making cash flow essential to maintain operations.
Cattle sale became an urgent measure to pay bills
With no money available, Shiro had to seek immediate alternatives. He reported that he approached slaughterhouses and requested priority in payment for the first cattle slaughtered, as he needed to settle urgent commitments.
The rancher stated that, at that moment, the market was stalled. There were no negotiations under normal conditions because both buyers and sellers were also facing a lack of money.
The crisis also directly affected Jacto, a company founded by his father and based in Pompeia. According to Shiro, the industry had about 1,300 employees and was practically without resources, in the same situation faced by the farm.
Faced with the risk of collapse, he assessed that the company could go bankrupt. The lack of capital affected salaries, operational costs, and the ability to keep the structure running.
Rural assets were used to save Jacto
The toughest decision was to sell assets to raise funds. Shiro explained that his personal plan was to continue in livestock, while other family members would remain in the industry. However, the crisis changed the course of the trajectory.
The farms belonged to the company but were managed by him. To generate cash, Shiro sold cattle, lean cattle, cows, and farms. The negotiations took place during a period of devaluation and lack of buyers.
According to the account, in some cases, the sale of farms was paid with cattle. Later, the cattle had to be sold again to convert the assets into money.
The goal was to bring resources to Jacto and reduce social and financial damage. The company had to reduce its workforce from 1,300 to 700 employees.
Shiro stated that the farms basically served to enable the dismissal of 600 people, as it was necessary to pay severance. He emphasized that it was not enough to lay off employees without fulfilling obligations.
70,000 hectares were sold during the crisis
In the podcast, Shiro revealed that he had 70,000 hectares at that time. The assets were liquidated quickly amid the economic crisis and devaluation.
He recounted that everything was sold cheaply, in a process of decapitalization. In the end, only a small farm remained where he kept P.O. cows.
The account also shows the emotional weight of that period. Shiro mentioned arguments, family tension, and internal difficulties caused by financial pressure.
The crisis caused by the Collor Plan, implemented during the government of former President Fernando Collor de Mello, reached 36 years in 2026.
The measure froze billions of new cruzados from bank accounts and affected families, rural producers, and companies.
Exports helped the company get through the worst moment
With the Brazilian market lacking liquidity, Jacto found an alternative in exports. Shiro explained that countries like Paraguay, Bolivia, Argentina, and Mexico were not facing the same financial blockade experienced in Brazil.
The family started directing sales of agricultural equipment to external markets. According to him, there was idle raw material and labor, which allowed maintaining part of the industrial activity.
The challenge was to convert exports into cash. Sales had a payment term of six months, and the company needed to discount bills at Banco do Brasil to obtain dollars and pay salaries.
Despite difficulties, this strategy helped Jacto survive until the economy began to stabilize.
Shiro stated that later, the government realized the extent of the measure and started releasing money.
Besides this episode, Shiro Nishimura is recognized for his work in genetic improvement at Fazenda Araponga, in Mato Grosso.
The project focused on meat quality, precocity, carcass yield, and marbling in Nelore animals, using carcass ultrasound and genetic evaluations from Embrapa Geneplus.
This article was prepared based on information from the AGRO360 Podcast, episode #186, presented by Rafael Vilella, with data, numbers, and statements preserved as per the consulted material.
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