|Bid||3,215.00 x 0|
|Ask||3,220.00 x 0|
|Day's Range||3,125.00 - 3,275.00|
|52 Week Range||1,704.00 - 6,000.00|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||4,488.80|
Japanese e-commerce start-up Mercari, which went public last year with great fanfare, booked a quarterly loss of 1.1 billion yen ($10 million) and warned of more losses ahead as it spends heavily to expand in the U.S. market. Mercari's smartphone app, which allows people to trade used items online, is well known in Japan but has made only a small headway in the U.S. market where it faces tough competition from established sites such as eBay and Craigslist. Mercari gave no specific forecast, but said heavy spending on its overseas expansion could mean bigger losses ahead.
As competition for workers grows in Japan's shrinking labour pool, traditional seniority and group dynamics are giving ground to the more individualised, merit-based employment system found in the West. It is a welcome sign for Prime Minister Shinzo Abe's government and the central bank, which have been pushing for a more flexible labour market that would boost wages and revive consumption. Takashi Murakami, a 23-year-old producer at Mercari (4385.T), which developed a popular flea market app, says seniority-based pay and lifetime employment are relics.
While Japan has a reputation as a tough place to start a company, the conditions are improving with more incubators, programming schools and supportive government policies. People like Muranaka, an investor at DMM Ventures, are adding capital to the mix, another key ingredient for startup success.
The hugely successful IPO by online marketplace Mercari in June was a bonanza for its shareholders – and may transform lukewarm attitudes among mainstream asset managers about investing in startups, according to major Japanese institutional investors and industry officials. Mercari (4385.T) became Japan's first home-grown unicorn, with a pre-IPO valuation of more than a billion dollars in early 2016. Its value increased further and led to rich rewards for early backers who had invested in the firm either directly or through venture capital (VC) funds.
Hong Kong is readying to host the world's biggest initial public offering (IPO) in two years on Wednesday, as China Tower Corp Ltd debuts in a market with record IPO numbers but where recent floats have struggled to maintain issue prices.
Japan's sharing economy made up less than a 10th of a percent of nominal gross domestic product in 2016, research showed on Wednesday, in a sign the sector remains very much in its infancy. The sharing economy - using technology to allow consumers and businesses to directly trade goods and services - has threatened to upend business models for industries including taxis, hotels, and consumer finance. Policymakers in many countries are starting to question how to measure the economic impact of this technological change, but research published by the Japanese government and Mitsubishi Research Institute showed this impact is small in the world's third-largest economy.
Japanese media company Uzabase Inc on Monday said it has agreed to buy business news website Quartz from U.S. peer Atlantic Media in a deal valued at $75 million to $110 million as it looks to accelerate its overseas expansion. The value of the deal will depend on Quartz reaching financial targets, Uzabase said in a statement.
Chinese tech titans preparing to float in Hong Kong and New York are likely to face a bumpy ride if trade tensions between the world's two biggest economies persist, potentially dragging on capital raisings after a stellar first half. While so far there has not been any significant impact from the U.S.-China trade spat, with funds raised in Asia-Pacific equity capital markets (ECM) at three-year highs and blockbuster IPOs such as that by Xiaomi, there are indications smaller deals are getting hurt.