The less bumpy way to ride e-commerce = Rakuten (Seite 288)

[FlankerStan]

A High-Quality Core Business

Japanese e-commerce sector and gaining even more dominance every year. It is highly profitable and with very strong margins compared to other generalist e-commerce platforms like Amazon or Alibaba.

As a stand-alone company, this segment could single-handily justify the current market valuation of the Rakuten Group, with all the rest of the company offered for free.

finmasters.com/rakuten-stock-research-report/

[FlankerStan]

Extended Summary: Why Rakuten?

Rakuten is a large conglomerate of e-commerce, financial, telecom, and consumer service dominating the Japanese online economy. The telecom segment has been a major cash drain and spooked investors out. The strong growth and quality of the core business have been ignored and left the company undervalued. The mobile business is set to turn profitable and this should change the narrative (and valuation multiples) around Rakuten.

https://finmasters.com/rakuten-stock-research-report/

[FlankerStan]

Rakuten (RKUNY) Stock Analysis By: JONATHAN SCHRAMM Last Updated: April 15, 2022

In this report, I will show the following:

The quality and growth of e-commerce segment alone coils support a much higher market cap. We will also discuss why some Japanese equities deserve a second look, especially growing and modern companies.

The capital intensive phase of the mobile operations is largely done. Their losses should drop dramatically and they might even turn profitable.

The Rakuten ecosystem is a world-class moat, and the mobile activity reinforces it

The financial branch of the company is largely not discussed, despite large opportunities available in Online Banking, FinTech, Insurtech, and for monetizing the data collected.

The investment in mobile network technology has been used to develop a unique technology stack, similar to what Amazon did with AWS. It could be massively adopted abroad by low-cost mobile operators, as demonstrated by some recent high-margin sales of the solution. This will also transform Rakuten’s investing profile from “Japan e-commerce” to a diversified international tech conglomerate.

https://finmasters.com/rakuten-stock-research-report/

[FlankerStan]

Vergleicht das einmal mit den Aussagen im Artikel in 7938

The facts: Rakuten had been growing faster than Amazon between 2019 and 2021 (11.2% vs. 6.3%)

Rakuten is the second-largest online marketplace in Japan based on online website visits, only trailing behind Amazon. Though, Rakuten had been growing faster than Amazon between 2019 and 2021 (11.2% vs. 6.3%). However, it faces competition from other marketplaces such as Mercari, ZOZOTOWN (OTCPK:SATLF) and Qoo10 Japan. As seen in the table below, only Qoo10 Japan had a higher growth rate than Rakuten, but it also had considerably lower monthly visits than Rakuten.

Online Marketplaces Monthly Visits in Japan ('mln')

2019

2021

Growth %

Amazon

523

555.8

6.3%

Rakuten

489.5

544.3

11.2%

Mercari

70.3

75.2

7.0%

ZOZOTOWN

47

43

-8.5%

Qoo10 Japan

11.3

14.4

27.4%

https://seekingalpha.com/article/4501093-rakuten-group-stock…

[FlankerStan]

zu 7941: Wozu ich noch bemerke möchte, dass meine Preisziele höher liegen, und zwar

bei $15 Ende 2022 und

bei $ 25 Ende 2023.

[FlankerStan]

Und schließlich eine dritte Meinung aus diesem April auf Seeking Alpha

Rakuten Group: Japanese E-Commerce Leader

Apr. 12, 2022

Summary

As one of the leading e-commerce platforms in Japan, we determined its customer satisfaction advantage and projected its user growth at 7.47% through 2026.

Also, we expect its ARPU growth to be supported by its cross-selling strategy through its ecosystem and projected to grow at 6.13% per year through 2026.

However, we expect its Mobile segment to weigh on the company's profitability as it expands its 5G network and remains unprofitable in 2022.

Verdict
We believe Rakuten is poised to benefit from the rise of the e-commerce market in Japan with a leading position only behind Amazon and high customer satisfaction. However, we also expect tough competition from Amazon, the market leader, with more visits, as well as having a higher number of product listings and a variable fee structure. We expect Rakuten’s member growth to continue growing with a 5-year average of 7.47% growth assumption through 2026. Additionally, we believe through its cross-selling strategy, its ARPU growth outlook at a forecast growth rate of 6.13% is supported as customers purchase more from its platform and complement other revenue segments. However, we expect the mobile segment to remain unprofitable and the future competition for the 5G network in Japan could intensify as Rakuten expands aggressively in the country. With the sum of the parts valuation, we rate the company as a Strong Buy with a price target of $11.71.

https://seekingalpha.com/article/4501093-rakuten-group-stock…

[FlankerStan]

Und ein anderer Writer auf Seeking Alpha sieht das so:

Rakuten: A Pot Of Gold At The End Of The Rainbow

Aug. 18, 2021

Summary

Rakuten presents a classic Warren Buffett “cigar butt” story.

The company has two strong, well-stablished businesses (Internet and Fintech) that are already part of the group, with the ability to fund future expansion of the mobile business.

Rakuten has a diverse product range and a compelling ecosystem that encourages cross-usage.

Rakuten mobile is laying the rails and infrastructure for next generation 5G, a big play on the future.

https://seekingalpha.com/article/4450502-rakuten-a-pot-of-go…

[FlankerStan]

zu 7938: Und ich kann dazu nur Teile meine Ausführungen in 7933 wiederholen:

"Genau das ist bei Rakuten Mobile nicht der Fall - das neue revolutionäre Geschäftsmodell funktioniert auf der technischen Seite wie am Schnürchen, und zwar entgegen vielen Unkenrufen. Und wenn man die in den nächsten vier Jahren geplanten Investitionen schon jetzt durchgezogen hat, sind Verluste unvermeidlich, bis den hohen Abschreibungen genügend Kunden gegenüberstehen. Und die Gebühren für die Nutzung fremder Netz fallen sogar schon ab diesem Jahr dramatisch.

Und es kommt sogar noch viel besser: Man verkauft inzwischen die für Rakuten Mobile entwickelten Softwarelösungen auch an andere Carrier (was ohne das Vorziehen der Investitionen für Rakuten Mobile um vier Jahre nicht möglich gewesen wäre) und kommt so in den in meinem letzten Posting beschriebenen gigantischen Markt."

[FlankerStan]

zu 7936: Ich gehe einmal davon aus, dass Du den nachstehenden

Artikel meinst. Auf Seeking Alpah schreiben selbständige Autoren, die ihre oder die von wem auch immer beauftragte Meinung vertreten. Es gibt auf Seeking Alpha daher auch genau extrem entgegengesetzte Meinungen.

Ich kann daher die nachstehenden Ausführungen des Artikels, den Du vermutlich meinst, absolut nicht nachvollziehen.

Rakuten: Mobile Investment Is Jeopardizing The Overall Company
May 03, 2022 8:00 AM
Summary
Rakuten's capital allocation for its mobile business is high-risk, resulting in cash burn.

Management is not being disciplined enough over the pace of capital allocation and is jeopardizing the overall company.

Underlying fundamentals are set to weaken in our view, resulting in excess leverage. We remain sellers of the shares.

https://seekingalpha.com/article/4505918-rakuten-mobile-inve…

[FlankerStan]

Das schnelle Wachstum des Marktes für Auftragsabwicklungsdienste wird voraussichtlich bis 2028 eine hohe CAGR erreichen Rakuten Super Logistics, Amazon, FedEx

Mai 5, 2022

Es wird erwartet, dass der Markt für Auftragserfüllungsdienste im Prognosezeitraum einen Anstieg bei einer CAGR von 7 % erreichen wird.

https://gbsg.ch/das-schnelle-wachstum-des-marktes-fuer-auftr…