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The Ms obviously offered him less money than even they think he's objectively worth - mostly because he's not "their kind of pitcher" - I mean they have a history of treating players very well - especially Japanese players like Johjima (regarding contracts, I mean), so it's not like they have a reputation for chintzing out and trying to take advantage of all the players in their employ. I just think they lowballed Iwakuma because (a) he wasn't asking for a lot and (b) they didn't feel comfortable investing a lot in his type of arm.