Yahoo Japan's market cap is $2.3T yen, YHOO share is 35% which is $8.45 Billion. If AG is worth $50 billion and YHOO
share is $10 billion, then China and Japan to Yahoo is worth $18.45 Billion. Right now Yahoo is at $23.30 billion market cap., which means the market is valuing core at only $4.85b ($23.30b - $18.45) not including cash if we apply a 1.0 Price/Sales Ratio. This is nuts! Anyone with their right mind see YHOO is undervalued. Marissa, pls. go ahead and buy all the shares you can at these level.
But then China and Japan to Yahoo are worth about $10 Billion after tax using current market value and last sale price. Right now Yahoo is at $23.30 billion market cap., which means the market is valuing the rest at about $13 Billion, not $4.85 Billion.