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    6178   JP3752900005

JAPAN POST HOLDINGS CO., LTD.

(6178)
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Rakuten to sell 8% stake to Japan Post in Amazon battle

03/12/2021 | 12:04am EDT

* Rakuten also to sell shares to Tencent, Walmart

* Share sale to raise $2.2 bln

* Rakuten under pressure on multiple fronts

TOKYO, March 12 (Reuters) - Japanese e-commerce firm Rakuten Inc said on Friday it would sell an 8.32% stake to postal and banking giant Japan Post Holdings Co Ltd, deepening a logistics tie-up in the face of competition from rivals such as Amazon.com Inc.

Rakuten, which plunged to an operating loss in 2020, is under pressure on multiple fronts as it battles Amazon in e-commerce and takes on Japan's cash-rich telcos with its own mobile network.

"Rakuten is the best partner for us, as it has advanced digital technology," Japan Post Holdings Chief Executive Hiroya Masuda told a news conference.

Friday's deal makes Japan Post Holdings the biggest shareholder in Rakuten outside the founding Mikitani family, and is part of a 242-billion-yen ($2.2-billion) share sale to companies including Tencent and Walmart.

A former state-owned utility that was later privatised, Japan Post Holdings has a presence on almost all Japanese high streets, with its postal unit having around 24,000 post offices nationwide.

"As tech giants grow in power we're combining our strength," said Rakuten's chief executive, Hiroshi Mikitani.

This month, chat app operator Line merged with SoftBank's internet business Yahoo Japan in a deal first announced in 2019.

Shares of both Rakuten and Japan Post rose in afternoon trade in Tokyo after Reuters and other media reported the tie-up.

Image Frame Investment, a unit of Chinese tech giant Tencent, will take 3.65% in Rakuten through third-party allotment, with Walmart also to buy shares.

Last year Rakuten acquired a 20% stake in Walmart's Japanese supermarket unit. It has had a partnership with the unit, Seiyu, since 2018. ($1=109.0900 yen) (Reporting by Takashi Umekawa, Sam Nussey, Tim Kelly and Noriyuki Hirata; Additional reporting by Chang-Ran Kim; Editing by Christopher Cushing and Clarence Fernandez)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
AMAZON.COM, INC. -7.56% 3327.59 Delayed Quote.2.17%
JAPAN POST HOLDINGS CO., LTD. -0.63% 929.1 End-of-day quote.15.73%
RAKUTEN GROUP, INC. -2.59% 1203 End-of-day quote.21.03%
SOFTBANK GROUP CORP. -2.61% 6837 End-of-day quote.-15.15%
TENCENT HOLDINGS LIMITED -2.64% 479 End-of-day quote.-15.07%
Z HOLDINGS CORPORATION -2.25% 546.5 End-of-day quote.-12.48%
All news about JAPAN POST HOLDINGS CO., LTD.
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07/06ACSL Issues $27 Million Shares to Japan Post Capital
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07/06JAPAN POST : Briefing Materials for Japan Post Group Small Meeting
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06/18JAPAN POST : Notice Regarding Cancellation of Treasury Stock
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06/11Japan Post Holdings Co., Ltd.'s Equity Buyback announced on June 10, 2021, ha..
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06/11JAPAN POST : Notice Concerning the Result and Closing of Acquisition of Treasury..
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06/10Tranche Update on Japan Post Holdings Co., Ltd.'s Equity Buyback Plan announc..
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06/10Japan Post Holdings Co., Ltd. announces an Equity Buyback for 276,090,500 sha..
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06/10Japan Post Holdings Co., Ltd. authorizes a Buyback Plan.
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06/10JAPAN POST : Notice Concerning Acquisition of Treasury Stock and Purchase of Tre..
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More news
Financials
Sales 2022 11 150 B 102 B 102 B
Net income 2022 355 B 3 232 M 3 232 M
Net Debt 2022 33 384 B 304 B 304 B
P/E ratio 2022 10,1x
Yield 2022 5,26%
Capitalization 3 500 B 31 890 M 31 908 M
EV / Sales 2022 3,31x
EV / Sales 2023 3,59x
Nbr of Employees 243 612
Free-Float 17,9%
Chart JAPAN POST HOLDINGS CO., LTD.
Duration : Period :
Japan Post Holdings Co., Ltd. Technical Analysis Chart | 6178 | JP3752900005 | MarketScreener
Technical analysis trends JAPAN POST HOLDINGS CO., LTD.
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 9
Last Close Price 929,10 JPY
Average target price 961,11 JPY
Spread / Average Target 3,45%
EPS Revisions
Managers and Directors
Hiroya Masuda President & Chief Executive Officer
Akio Mimura Independent Outside Director
Tadashi Yagi Independent Outside Director
Kunio Ishihara Independent Outside Director
Charles Ditmars Lake Independent Outside Director