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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  LINE Corporation    3938   JP3966750006

LINE CORPORATION

(3938)
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Line Corp gears up for food fight in Thailand

10/04/2020 | 08:34pm EST
FILE PHOTO: Logo of Line Corp is seen at the company's headquarters in Tokyo

TOKYO/SINGAPORE (Reuters) - Line Corp's food delivery business in Thailand is gearing up for a prolonged battle with players ranging from SoftBank-backed Grab to banks after a merger with a listings heavyweight and an outside capital injection.

Expansion in food delivery by chat app operator Line in its second-largest market comes as the sector grows globally through the novel coronavirus pandemic but as questions linger over how companies will turn a profit.

Fast-growing delivery business Line Man hopes its edge will come from last month's merger with Thailand's leading restaurant listings site Wongnai, in addition to leveraging Line's 47 million Thai users.

"We can reduce costs a lot and that is the path to profitability," Line Man Wongnai Chief Executive Yod Chinsupakul said in his first interview with international media since taking up the post.

The company is targeting 20 cities by year-end, from 15 now, and is moving more delivery in-house, Chinsupakul said, having relied on Hong Kong-based logistics firm Lalamove to scale quickly.

Line Man Wongnai has raised $110 million to fund its expansion from investor BRV Capital Management - the first of Line's overseas businesses to raise such capital.

"The average price per item tends to be very low, therefore focusing on conquering volumes is the strategy to win," said Alfonso de los Reyes, an analyst at Singapore-based venture outfit Momentum Works.

The merger has left loss-making Line with a 46% stake in the delivery business. It also delivers food in Japan and Taiwan.

Line is being taken private by SoftBank's domestic internet business Z Holdings in a deal raising expectations that the chat app's operations will serve as a gateway to overseas expansion.

SoftBank-backed Grab also delivers food in Thailand, along with leftfield challengers like Siam Commercial Bank.

(Reporting by Sam Nussey; Editing by Robert Birsel)

By Sam Nussey and Fanny Potkin


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
LINE CORPORATION -0.19% 5370 End-of-day quote.0.37%
SOFTBANK CORP. 1.07% 1280 End-of-day quote.-12.30%
SOFTBANK GROUP CORP. 1.74% 7381 End-of-day quote.55.19%
THE SIAM COMMERCIAL BANK 1.40% 90.25 End-of-day quote.-26.02%
Z HOLDINGS CORPORATION -0.15% 645.3 End-of-day quote.39.98%
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Financials
Sales 2020 262 B 2 518 M 2 518 M
Net income 2020 -31 174 M -300 M -300 M
Net cash 2020 21 771 M 210 M 210 M
P/E ratio 2020 -40,8x
Yield 2020 -
Capitalization 1 304 B 12 558 M 12 549 M
EV / Sales 2020 4,90x
EV / Sales 2021 4,45x
Nbr of Employees 6 998
Free-Float 11,4%
Chart LINE CORPORATION
Duration : Period :
LINE Corporation Technical Analysis Chart | 3938 | JP3966750006 | MarketScreener
Technical analysis trends LINE CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 7
Average target price 5 366,67 JPY
Last Close Price 5 370,00 JPY
Spread / Highest target 0,19%
Spread / Average Target -0,06%
Spread / Lowest Target -1,30%
EPS Revisions
Managers
NameTitle
Takeshi Idezawa President, CEO & Representative Director
Hae-Jin Lee Chairman
In-Joon Hwang Chief Financial Officer & Director
Eui-Bin Park Chief Technology Officer
Jun Masuda Director, Chief Strategy & Marketing Officer
Sector and Competitors
1st jan.Capitalization (M$)
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