New Street Research - Line Yahoo Corporation (TYO: 4689) LY Corp (Buy, TP: ¥585, +66%) Q1 FY24 Quick Take: Another EBITDA beat; ¥150bn share repurchase announced; great numbers from PayPay again

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New Street Research

Chris Hoare

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LY Corp (Buy, TP: ¥585, +66%) Q1 FY24 Quick Take: Another EBITDA beat; ¥150bn share repurchase announced; great numbers from PayPay again

LY reported strong EBITDA numbers again with overall profitability improving. Notably, Media and Strategic performed better against internal targets. Separately, LY also announced a ¥150bn share buyback programme as part of a tender agreement with A Holdings in order for it to raise its float and meet the listing requirements.

02/08/2024 1 EN

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Line Yahoo Corporation

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Chris Hoare

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LY Corp (Buy, TP: ¥585, +66%) Q1 FY24 Quick Take: Another EBITDA beat; ¥150bn share repurchase announced; great numbers from PayPay again

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

Japanese Telcos Q1 FY24 review: Softbank outperforming

Alphabet (GOOGL, Buy, $213 target) Forget Chrome, 3P payments are the heart of the issue

SATS: DBS merger breaks

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

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