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Mercari, Inc. (MCARY)

Other OTC - Other OTC Delayed Price. Currency in USD
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23.89-0.55 (-2.25%)
At close: 3:59PM EDT
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Previous Close24.44
Open24.38
BidN/A x N/A
AskN/A x N/A
Day's Range23.88 - 24.50
52 Week Range14.38 - 30.00
Volume6,559
Avg. Volume6,587
Market Cap7.594B
Beta (5Y Monthly)1.22
PE Ratio (TTM)273.03
EPS (TTM)0.09
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • Big Money, Day Traders Both Love Japan Tech Darling Mercari
    Bloomberg

    Big Money, Day Traders Both Love Japan Tech Darling Mercari

    (Bloomberg) -- Mercari Inc., the online flea-market operator that has become one of Japan’s most closely watched tech ventures, is closing in on new highs as the stock has drawn both big and small money.The company has already grown to command the largest weighting on Japan’s startup-focused Mothers index as individual investors buy in -- of some 230 of the largest Japanese companies with market value of over $5 billion, Mercari has the third-highest percentage of individual shareholders. Then on Oct. 7, Los Angeles-based money manager Capital Group declared it had taken a 5% stake in Mercari.That’s helping propel the stock to near the 6,000 yen mark it hit just once, on the day it listed to great fanfare in 2018. After a rapid decline, the stock has worked its way back up this year, fueled by its first quarterly operating profit. That’s been helped by the coronavirus pandemic, which has boosted usage of its online marketplace where users buy and sell items.Mercari fell 0.2% in Tokyo on Tuesday. A gain of just 3.3% in the next trading session would see it match the 6,000 yen high.Mercari is something of a rarity in Japan, which has few tech startups that have swelled to the size of the $8.6 billion company, according to Ikuo Mitsui, a fund manager at Aizawa Securities Co., who is still bullish on the firm after the share surge.“In Japan there are very few companies like this, light on assets and not requiring large-scale capex,” he said. That’s why many are piling onto the stock, he added.It’s even more unusual for being a Japanese startup that is starting to see success on its app outside of its home country. The pandemic was a boon to its U.S. operations, which saw gross merchandise value (GMV) jump almost threefold in the quarter ended June from the year earlier. Monthly active users in the U.S. rose to 4.2 million in the quarter, a figure Mercari’s chief executive officer indicated is still small relative to the American population.“Mercari has yet to become a platform that’s indispensable for the world,” founder and CEO Shintaro Yamada told Bloomberg News in an interview in September.Mercari Battles to be Profitable Leader in Japan Mobile PaymentsWith shares up almost 25% since its last earnings, all eyes will be on its performance in the latest quarter when it announces results on Oct. 30.“If the GMV can beat that of the April-June quarter, investors’ certainty in the growth story will increase and shares should rise,” said Ryotaro Sawada, an analyst at Ace Securities Co.(Adds share price in fourth paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Mercari Battles to be Profitable Leader in Japan Mobile Payments
    Bloomberg

    Mercari Battles to be Profitable Leader in Japan Mobile Payments

    (Bloomberg) -- Mercari Inc. wants to become the top provider of mobile payments in Japan even as its biggest rivals join forces, but that ambition is second to making the business profitable.The company’s immediate focus is on improving profitability and expanding the lineup of merchants that accept payments using its Merpay service, founder and Chief Executive Officer Shintaro Yamada said in an interview. Mercari, whose second-hand market app is used by over 17 million people each month in Japan, is in no rush to compete for users with Line Corp. and SoftBank Group Corp.-backed PayPay, Yamada said.Mobile payment competition is heating up in Japan, where the government has been trying to reduce the dominance of banknotes and coins. Line, the operator of Japan’s biggest messaging service, and e-commerce giant Rakuten Inc. had an early start in payments, followed by PayPay and then Mercari. PayPay -- backed by SoftBank, Yahoo Japan and India’s Paytm -- took the lead by sparking a shopping frenzy with 10 billion yen ($95 million) in rebates on purchases. Now SoftBank is looking to combine Yahoo Japan with Line, while Mercari has partnered with NTT Docomo Inc., the country’s dominant wireless carrier with its own payment business.“This doesn’t have to be a winner-takes-all market. There is no reason why it can’t be more like credit cards, where no one company controls it all,” Yamada said. “But if we are talking end-game, eventually, we want to beat the current No. 1 -- PayPay.”Read more: Digital Money Thefts Deal Setback to Japan’s Cashless DrivePayPay counts over 30 million registered customers and will soon gain access to 84 million Japanese users on Line’s messaging service. Merpay, launched in February 2019, has more than 7 million monthly active users and is accepted at more than 1.6 million stores. While Mercari’s user base is smaller, it has an advantage in payments because many of its customers already hold a cash balance as the result of selling goods on its app. The company, which reported a 22.8 billion yen loss for the year ended June, has said it aims to make Merpay profitable after the year ending June 2021.“We have the beginnings of a business that can be tremendously profitable in the future,” Yamada said. “For now, instead of expanding our user base, we are focusing on increasing profitability and synergies with the main business.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.