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    9984   JP3436100006

SOFTBANK GROUP CORP.

(9984)
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Delayed Japan Exchange  -  05/20 12:15:52 am EDT
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Uber to bow out of Brazil restaurant deliveries

01/06/2022 | 12:44pm EDT
FILE PHOTO: A screen displays the company logo for Uber Technologies Inc. on the day of it's IPO at the NYSE in New York

SAO PAULO, Jan 6 (Reuters) - Uber said on Thursday it will end its Uber Eats restaurant delivery service in Brazil from March 7 and focus instead on deliveries by its online groceries provider Cornershop and on Uber Direct, a delivery service for stores.

Brazil Journal, citing sources close to the matter, said the move is part of a global repositioning strategy under which Uber is looking to close unprofitable operations. Uber did not give a reason for closing Uber Eats Brazil in its statement.

Uber's move comes amid fierce competition in food deliveries in Brazil, where other providers include Rappi, which is backed by SoftBank Group Corp, and iFood, part of Movile, a technology group backed by Prosus.

Both Movile and Rappi, which has considered an initial public offering, raised million of dollars last year to fund operations in Latin America. (Reporting by Carolina Mandl; Editing by Frank Jack Daniel, Christian Plumb, Lisa Shumaker and Alexander Smith)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
EURO / BRAZILIAN REAL (EUR/BRL) 0.66% 5.2091 Delayed Quote.-17.66%
PROSUS N.V. 1.56% 45.5 Real-time Quote.-38.12%
SOFTBANK GROUP CORP. 3.18% 5216 Delayed Quote.-5.47%
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Financials
Sales 2022 6 171 B 48 458 M 48 458 M
Net income 2022 728 B 5 714 M 5 714 M
Net Debt 2022 16 223 B 127 B 127 B
P/E ratio 2022 11,7x
Yield 2022 0,87%
Capitalization 8 243 B 64 730 M 64 730 M
EV / Sales 2022 3,96x
EV / Sales 2023 4,15x
Nbr of Employees 58 786
Free-Float 69,3%
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Mean consensus BUY
Number of Analysts 17
Last Close Price 5 055,00 JPY
Average target price 7 896,47 JPY
Spread / Average Target 56,2%
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Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
Yutaka Matsuo Independent Outside Director
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