Z Holdings: Aggressive Consensus + Expensive Valuation
In our previous note, Z Holdings 1Q Update: Strong GMV Growth Is Not Expected to Last Longer Than COVID-19, we suggested that Z Holdings (4689...
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Z Holdings 1Q Update: Strong GMV Growth Is Not Expected to Last Longer Than COVID-19
We hardly see any improvement in Z Holdings (4689 JP)’s commerce business (excl. ZOZO) from 1Q FY03/21 results, despite a temporary bump in...
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ORIX Corp.– Enigma Wrapped In A Riddle
* Poor Results To Continue: Orix (8591.JP/IX.US) reported consolidated FY (March) 1Q21 results of JPY 50.0 bn, declining JPY 19.2 bn (28%) YOY and...
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The Zozo Revival: A New Private Brand of Many Names, Category Expansion, Merchants Return
ZOZO (3092 JP)'s new plan to create a direct-to-consumer (DtoC) e-commerce platform this October, and fund the brands sold on it, is much more than...
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Z Holdings [Alt Data]: PayPay Mall and PayPay Flea Market Continue to Disappoint
In our previous notes, we have continuously questioned Z Holdings (4689 JP)’ strategy of aggressively trying to expand its user growth in the...
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