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MarketScreener Homepage  >  Equities  >  Tokyo  >  Yahoo Japan Corporation    4689   JP3933800009

YAHOO JAPAN CORPORATION

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UPDATE1: Yahoo Japan to buy Zozo for 400 bil. yen

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09/11/2019 | 10:23pm EDT

Yahoo Japan Corp. said Thursday it will make online fashion retailer Zozo Inc. a subsidiary for about 400 billion yen ($3.7 billion) in a friendly takeover.

The operator of the Zozotown clothing store said it has appointed Kotaro Sawada as chief executive officer to replace Yusaku Maezawa.

The acquisition comes as Yahoo intends to use online sales as part of its growth strategy, trying to nip the heels of Amazon.com Inc. and Rakuten Inc. in Japan.

Yahoo will start a takeover bid as early as early October, while setting a 50.1 percent cap on purchase of shares in Zozo. Maezawa has agreed to sell a stake of 30 percent out of his 37 percent holdings in Zozo.

Maezawa stepped down on Thursday at his own wish, the Chiba-based company said.

The unconventional entrepreneur is set to become in 2023 the first person to travel to the Moon since the Apollo program ended in 1972.

He is booked to be the first private passenger to orbit the Moon in a Big Falcon Rocket spaceship being developed by Space X, the space transportation firm of U.S. tech billionaire Elon Musk.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
YAHOO JAPAN CORPORATION -1.26% 314 End-of-day quote.18.05%
ZOZO INC 1.17% 2500 End-of-day quote.26.52%
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Financials (JPY)
Sales 2020 1 010 B
EBIT 2020 147 B
Net income 2020 85 052 M
Finance 2020 277 B
Yield 2020 2,83%
P/E ratio 2020 18,2x
P/E ratio 2021 16,9x
EV / Sales2020 1,21x
EV / Sales2021 1,09x
Capitalization 1 495 B
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Technical analysis trends YAHOO JAPAN CORPORATION
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Mean consensus BUY
Number of Analysts 16
Average target price 420,63  JPY
Last Close Price 314,00  JPY
Spread / Highest target 78,3%
Spread / Average Target 34,0%
Spread / Lowest Target -7,64%
EPS Revisions
Managers
NameTitle
Kentaro Kawabe President, CEO & Representative Director
Manabu Miyasaka Chairman
Ryosuke Sakaue Chief Financial Officer & Executive Officer
Chiaki Fujimon Chief Technology Officer
Masayoshi Son Director
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