New Street Research - Line Yahoo Corporation (TYO: 4689) ... LY Corp (Buy, TP: ¥585, +43%) Q4 FY23 Quick Take: Better than expected EBITDA guide and a bullish medium term EPS target; Line PayPay linkage delayed

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New Street Research

Chris Hoare

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LY Corp (Buy, TP: ¥585, +43%) Q4 FY23 Quick Take: Better than expected EBITDA guide and a bullish medium term EPS target; Line & PayPay linkage delayed

LY delivered yet another strong EBITDA beat, ahead of consensus by 16%. Against consensus expectations, FY24 guidance was in line for revenue while ahead on EBITDA. Encouragingly, the company has also laid out a bullish EPS target of more than ¥20 for FY25 (vs. ¥18.7 previously) which reflects the company’s focus on efficiency and profitability, and would be positive if the company can achieve it.

08/05/2024 1 EN

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Line Yahoo Corporation

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SoftBank Corp.

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JP3732000009 Japan

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New Street Research

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Global Emerging Market Telecoms
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Chris Hoare

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LY Corp (Buy, TP: ¥585, +43%) Q4 FY23 Quick Take: Better than expected EBITDA guide and a bullish medium term EPS target; Line & PayPay linkage delayed

Japanese Telcos Q2 FY24 review: Stable growth with better profitability; NTT still preferred pick

Softbank Corp (Buy, TP: ¥270, +40%) Q2 24 Quick Take: Beat across the board and an upgraded guidance

LY Corp (Buy, TP: ¥585, +38%) Q2 FY24 Quick Take: Upgraded profitability guidance led by Media and PayPay

SATS: DBS merger breaks

3Q24 Broadband Trends: FWA capacity limits; FWA demand limits

Gen AI Big Idea Series - Chipletz CEO Bryan Black - Smart Substrate & the Multi-Chip-Module revolution

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