Rakuten’s FVE Raised to JPY 1,100 Because of Lyft IPO, but Worries About EC Business Not Addressed
We raise Rakuten’s fair value estimate to JPY 1,100 from JPY 950 to incorporate the value of gains from the Lyft IPO. Rakuten is the largest shareholder of Lyft, holding 13% of its shares, and the company recorded JPY 110 billion gains in first quarter of 2019 because of Lyft’s IPO on the Nasdaq. Other businesses were in line with our original forecast. While the revenue for the from domestic e-commerce, or EC, increased 14.7% from the previous year, its operating margin dropped to 12.7% from 17...Rakuten is mainly engaged in the Internet-related business. Along with its affiliates, Co. operates in two business segments. The Internet Services segment is engaged in the operation of electronic commerce sites, including an Internet shopping mall "Rakuten Ichiba," an online cash back site, a travel booking site, portal sites and digital contents sites; the sale of advertising on Co.'s sites; the provision of messaging and communication services; and the management of a professional baseball team "Tohoku Rakuten Golden Eagles." FinTech segment is engaged in the provision of Internet banking services and online securities trading services, and the credit card and life insurance businesses.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.