Rakuten wesentlich besser als Rocket

von 118,0 Billionen Yen steckt allerdings auch ein Bewertungsgewinn bei Lyft in Höhe von 110,2 Billionen, den man berücksichtigen muss.

Das wird auf Seite 6 der Presentations auch getan, wo ein Breakdown der 118,0 Billionen vorgenommen wird.

global.rakuten.com/corp/investors/documents/results/
und dann auf Presentation klicken

Allerdings darf man nicht nur die 110,2 Millionen berücksichtigen, sondern auch, wie es in der vorstehenden Betrachtung gemacht wird, die besonderen nicht wiederkehrenden Aufwendungen:
Upfront Investment for future growth  (Logistic, NBA-rights. Partnership costs, Ebates rebranding) = 10,8 Billionen Yen
Mobile =  5,8 Billionen Yen
Others  = 2,0 Billionen Yen

In der oben angeführten Quellen wird dann ein Operating income ohne Investmentgewinne und einmalige Sonderkosten von 18,5 Billionen Yen ausgewiesen.



 

auch genauer auf den E-Commerce in Japan (Domestic E-Commerce Results eingegangen.

Hier sind die Umsätze gegenüber dem Vorjahresquartal von 94585 Millionen Yen auf 108528 Millionen Yen gestiegen - das sind 14,7%.

Wegen des intensiven Wettbewerbs mit Amazon und Yahoo ist aber Gewinn von 16718 Millionen Yen auf 13799 Millionen Yen gefallen - das sind 17,5% weniger. Excluding investments and logistics related costs wäre der Gewinn jedoch immerhin um 5% gestiegen.  

Normalerweise hätte das Wachstum des Domestic E-Commerce zu einem Anstieg des Gewinns um 2 Billionen Yen geführt:

Growth of Marketplace business
・Rakuten Ichiba
・Rakuten Travel
・Rakuten GORA etc.

Das wurde aber überkompensiert durch:

0,9 Billionen Yen für Investing phase business
・Rakuma
・Rakuten Brand Avenue
・Rakuten Books
・RakutenBIC
・Rakuten Seiyu Netsuperetc.

Und 4,0 Billionen Yen für
Logistics-related investments / costs etc.
 

Rakuten Mobile received the award for Most Innovative Telco Cloud Strategy (Network/Data Center Operator), awarded to the network or data center operator that has devised the most innovative telco cloud strategy during the past year. The company won for its Telco Cloud Platform, which Leading Lights called “a truly next-generation, software-defined, automated and distributed telco architecture.”

It also took home the trophy for Most Innovative Automation Strategy (Network/Data Center Operator), recognizing the network or data center operator that has devised the most innovative automation strategy during the past year. The company won for its “mobile network platform, developed and deployed with help from Cisco, that has in-built automated processes from the radio access to the core.”

Rakuten Mobile was the only company to win multiple awards at the event.

https://rakuten.today/blog/rakuten-mobile-leading-lights-awards.html
 

korrekt, wenn sie auf einen denkbaren Abzug der Investmentgewinne hinweisen, aber die nicht regelmäßig anfallenden außerordentlichen Aufwendungen unerwähnt lassen.

Dabei sind die Investmentgewinne sogar nur bedingt als nicht regelmäßig ansehbar. Denn Rakuten hat hier schließlich 3 Milliarden US-Dollar investiert, die ja irgendwie zu verzinsen sind. Einen Mittelwert,  z.B. 20% der Investitionssumme = 600 Millionen pro Jahr,  müsste man dann schon neben den aus der Betriebstätigkeit erzielten Gewinnen hinzurechnen, wenn die Investmentgewinne völlig aus dem Gewinn herausgerechnet werden.

 

network for MNO launch in Oct 2019, wie es auf Seite 36 der Presentation ausgeführt wird,

global.rakuten.com/corp/investors/documents/results/
und dann auf Presentation klicken

Verluste produziert, solange ab Oktober dieses Jahres und in der Anfangsphase danach noch nicht ausreichend Erlöse produziert werden, war m.E. von Anfang an klar:

Q1/18: minus 638 Millionen Yen

Q2/18: minus 2075 Millionen Yen

Q3/18: minus 5384 Millionen Yen

Q4/18: minus 4572 Millionen Yen

Q1/19: minus 6425 Millionen Yen
 

Viber Unique IDs (Million IDS)

Dec/17: 980
Mar/18: 1007
Jun/18: 1030
Sep/18: 1053
Dec/18: 1074
Mar/19: 1095

global.rakuten.com/corp/investors/documents/results/
und dann auf Presentation klicken
 

https://www.cnbc.com/video/2019/05/07/...e-better-pick-than-uber.html  

Digital Money Transfer Service Azimo Added to Sunday Times Hiscox Tech Track 10
September 12, 2018

Fintech Azimo, a European money transfer service, has has been added to the Sunday Times Hiscox Tech Track 100 list joining a prominent list of UK tech firms including some big names in Fintech. This is the first year for Azimo to be added to the track and it is ranked at #34.

Azimo states it has generated top line growth of over 100% year over year.

Michael Kent, CEO of Azimo, commented on be included on the list;
“We are thrilled to be included in the Tech Track 100 and to be recognised for the success of our business. We now reach more than 5 billion potential customers via a wide variety of pay-out methods, including cash, bank deposits and mobile wallets.  The number will continue to grow as we expand our operations across Europe to help more diaspora send money back home and to promote greater financial inclusion around the world.”

Azimo currently enables payments in more than 80 currencies to more than 190 receiving countries.

https://www.crowdfundinsider.com/2018/09/...mes-hiscox-tech-track-10/

 

Founded in 2013, Cyndx is an AI-powered financial technology company that is making it easier to discover business opportunities. The collaborative result of seasoned investment bankers, data scientists, and M&A specialists, Cyndx provides secure cloud-based solutions to help companies, including startups and financial institutions, to obtain comprehensive, algorithmically-curated investor information and strategic recommendations to enhance their capital raising and M&A efforts.
Cyndx offers three subscription options: (i) Cyndx Finder, which identifies the most relevant companies within a target area of interest and offers advanced insights into a company's positioning, operations and growth potential; (ii) Cyndx Raiser, which analyzes data from millions of funding rounds to curate a bespoke list of the most relevant investors for your deal; and (iii) Cyndx Owner, which streamlines capitalization table management, allowing private companies to track share transfers, repurchases, and cancellations, as well as analyze hypothetical financing rounds.

https://finance.yahoo.com/news/cyndx-3-0-makes-even-125000561.html
 

anders:

"Dennoch muss man klar positiv herausstreichen, dass das Unternehmenswachstum – auch und gerade unter Berücksichtigung der schon erreichten Größe des Konzerns – absolut beeindruckend ist. Insofern ist das Unternehmen meines Erachtens auf einem guten Weg in Richtung einer nachhaltigen Geschäftsentwicklung, sprich: der Erreichung der Profitabilität.

Zum Ausgabepreis von 45,00 US-Dollar wies Uber Technologies somit einen Börsenwert von rund 75,5 Mrd. US-Dollar auf. Leider gelang der Aktie kein guter Börsenstart, so dass sie aktuell schon für weniger als 45,00 US-Dollar zu haben ist. Dementsprechend beträgt die aktuelle Marktkapitalisierung auch „nur“ noch ca. 72,6 Mrd. US-Dollar. Auf Basis dieser Bewertung liegt das KUV 2019e bei knapp fünf, wobei aufgrund anhaltender Verluste auch weiterhin kein KGV berechnet werden kann."

https://www.sharedeals.de/uber-technologies-wie-lyft-also-abwaerts/
 

Monetization accelerating from strong growth in both Telco (Viber in/Out) and content revenue

Total revenue = +29.8% YoY

Content Increasing
Q1/18: Content = 57%, Telco = 43%
Q1/19: Content = 60%, Telco = 40%

global.rakuten.com/corp/investors/documents/results/
und dann auf Presentation klicken
 

"Der bereinigte Verlust sank im Jahresvergleich dagegen von 228,4 auf 211,5 Millionen Dollar. Analysten hatten mit einem höheren Minus bei über 270 Millionen Dollar gerechnet. "

Der durch die Kosten des IPO entstandene sehr viel höhere Verlust ist wegen seiner Einmaligkeit ein Nonevent. Ich nehme alle Publikationen nicht ernst, die auf diesem höheren durch den IPO verursachten Verlust herumhacken und gesunkenen bereinigten Verlust gar nicht erst erwähnen.

Eine derart aus meiner Sicht Verkennung der realen Lage habe ich bisher selten erlebt.  

At recent conferences, to address congestion of Japan’s existing logistics networks, Mikitani had shared plans for construction of a new logistics network that merchants would be able to utilize independent of third-party shipping companies. The next step would be to pass that benefit onto consumers. Traditionally, Rakuten Ichiba’s delivery methods have been managed separately by each individual merchant, meaning shipping times and fees could vary wildly between merchants.

“Customers are telling us ‘Rakuten Ichiba is great,’ ‘the shops are great,’ ‘there are so many great products,’” Mikitani told merchants. “But they’re also telling us they want consistent shipping fees.”
Rakuten Ichiba’s big challenge for 2019, Mikitani said, was to consolidate shipping methods to make a single unified system that could be made available to users across the entire platform. “I’m sure each of you have your own individual challenges. I think we can create a marketplace with sustained, significant growth at a level the world has never seen.”

https://rakuten.today/blog/rakuten-ecommerce-marchants-huddle.html
 

under the backdrop of a sluggish domestic stock market.

Growth in shopping transaction volume and revolving balances due to expansion of Rakuten Card’s membership base contributed to revenue and income. In addition, in banking services, revenue and income continued to expand due to an increase in interest income from growing loan balances and improvements in cost efficiency, despite the backdrop of a negative interest rate policy. Meanwhile, in securities services, revenue and income decreased due to reduced commissions under the backdrop of a sluggish domestic stock market.

As a result, the FinTech segment recorded ¥114,215 million in revenue, a 22.1% year-on-year increase, while segment profit stood at ¥20,105 million, a 1.4% year-on-year decrease.

https://global.rakuten.com/corp/investors/documents/results/

Latest IR Materials
First Quarter 2019
May 10, 2019
Earnings Release for Q1 of FY2019 Financial Results

 

Rakuten Inc.: Undervalued E-Commerce Giant In The Land Of Rising Sun
Apr. 22, 2019 9:31 AM ET

Summary

Rakuten has a strong venture capital arm, having invested in Lyft and Pinterest, both of which just went public.

Rakuten also has the brand recognition and power in the credit card business similar to American Express in the US.

The stock price has begun rising as of late but is still significantly below 2015 highs and undervalued.

Rakuten, Inc. (OTCPK:RKUNY), an e-commerce giant based in Japan, often coined as "the Amazon of Japan", has seen its stock price fall from 2015 highs to lows in late 2018 and into early 2019. The stock has recently started to rise with Pinterest (PINS) and Lyft (LYFT) going public, but the stock is still below its 2015 highs, providing an excellent opportunity for investors to accumulate this profitable internet company.

https://seekingalpha.com/article/...-e-commerce-giant-land-rising-sun
 

weil ich erstens den Kurs für Lyft zu niedrig halte:

https://finance.yahoo.com/news/...ill-the-selling-stop-182444074.html

und zudem die von den Märkten konstruierte Abhängigkeit des Rakuten-Kurses von den Kursbewegungen bei Lyft in ihrem Ausmaß für extrem absurd halte.

 

Viber, the messaging platform, has launched a new feature enabling users to own a local phone number, so anyone outside of the Viber platform can call or send SMS messages to this number at local rates with no roaming costs for the user receiver wherever they are located.

The company said that international entrepreneurs can provide their clients with a local business number and be contacted freely no matter where they may be in the world. Frequent travellers can give a local number out in their current destination to make reservations, book tours, or other travel expenses. Expats and travellers can leave a local phone number to their contacts to be reachable at no cost while they are away.

Viber Local Number is available globally, first offering the option to own local phone numbers in the UK, US, and Canada with more countries expected to be added in the near future. It is available both for iOS and Android versions of the Viber mobile app.

https://www.uktech.news/news/...d-texts-with-no-roaming-fees-20190411
 

Rakuten Invests in xXx 4 and Brightburn Through Partnership with The H Collective

Companies also to establish joint venture to distribute motion pictures in Japan

TOKYO, May 15, 2019 – Rakuten, Inc., a global leader in internet services headquartered in Tokyo announced today that has invested in motion pictures xXx 4 and Brightburn through a partnership with The H Collective, a global film finance, production, marketing and distribution company.
Under the investment agreement, Rakuten has provided financing to Brightburn, The H Collective’s first globally released feature film starring Elizabeth Banks and produced by James Gunn (Guardians of the Galaxy). The film will be released on May 24 in the United States. In addition, Rakuten will provide financing for the fourth installment of the xXx franchise, directed by D.J. Caruso starring Vin Diesel who will reprise his role of Xander Cage.

https://global.rakuten.com/corp/news/press/2019/...&category=corp
 

Lyft and Hilton just announced a new partnership that can help you get free nights in hotels

         •§Starting Tuesday, you can earn Hilton Honors hotel loyalty points every time you ride with Lyft.

         •§After you register for the new partnership, you'll earn 2x Hilton points per dollar on shared Lyft rides, and 3x points per dollar on regular rides (on up to $10,000 of spend each year).

         •§The partnership can help Hilton Honors members get closer to their next award stay. Hilton's three credit cards are another way to earn extra points.

         •§Lyft riders can also earn Delta SkyMiles on rides — a Lyft spokesperson confirmed to Business Insider that users can effectively double-dip, earning both SkyMiles and Hilton Honors points on rides.

https://www.businessinsider.de/...-nights-hotels-2019-5?r=US&IR=T
 

Allot’s unified traffic management and network security platform will provide protection for Rakuten’s mobile network and subscriber traffic. Rakuten’s fully virtualized cloud mobile network has successfully completed real world end-to-end tests in February, demonstrating stability and scalability of the service. The launch of Rakuten Mobile is planned for October.

Allot is a provider of network intelligence and security solutions for service providers worldwide. Its solutions are deployed for network and application analytics, traffic control and shaping, and network-based security services. The company’s multi-service platforms are used by over 500 mobile, fixed and cloud service providers and more than 1,000 enterprises.

“We are excited to partner with Allot as we build Japan’s newest mobile network,” said Tareq Amin, chief technology officer at Rakuten Mobile. “By leveraging Allot’s world-class technologies and expertise, we will be able to provide our customers with a comprehensive secured mobile service.”

https://www.proactiveinvestors.com/companies/news/...apan-220222.html
 

Uber is buying Middle Eastern rival Careem for $3.1bn in a deal that marks a shift in the US ride-hailing company’s global strategy ahead of its long awaited blockbuster initial public offering.Uber will pay $1.4bn in cash and $1.7bn in notes that convert to Uber equity at $55 a share, marking the company’s biggest acquisition to date. The transaction, which is subject to regulatory approval, is expected to close in the first quarter of 2020.

Careem’s backers include Didi, Rakuten and Daimler. It also has a significant pool of Saudi investors, including Prince Alwaleed bin Talal’s Kingdom Holding Company, STC Ventures and Al Tayyar Group.

https://www.ft.com/content/0ac58ab2-4f4a-11e9-9c76-bf4a0ce37d49
 

Rakuten CTO: We're Stronger, Faster & Cheaper Than You

https://www.lightreading.com/automation/...per-than-you/d/d-id/751486
 

letzten Posting:

"All that means huge cost savings, according to Amin. "Our cost for 5G is 50-60% cheaper than traditional telecom networks," he said. On the investment side, he estimates that if a traditional telco were investing about $8.8 billion in 5G, Rakuten would spend just $2.8 billion. Cost efficiency could translate into a big advantage in Japan's crowded mobile market, allowing Rakuten to undercut its rivals on price without damaging profitability."  

Rakuten and Gurunavi signed a capital and business alliance agreement in July 2018, whereby Rakuten acquired 4,677,600 shares (9.60% of the total number of issued shares) of Gurunavi in August. As a result of these efforts, for Rakuten, the Rakuten ecosystem has begun to expand in the restaurant area. In addition, for Gurunavi, there has been an acceleration in the pace of expansion of the number of Gurunavi members and online reservations, leading to the improvement of the customer referral capability to member restaurants.

Rakuten plans to receive part of Gurunavi's shares held by Hisao Taki (an individual) who is  Chairman and Representative Director of Gurunavi (hereinafter referred to as the “Transfer"), making the proportion of voting rights equivalent to 15% after the Transfer.

https://global.rakuten.com/corp/news/press/2019/...category=corp%20ir