In today’s briefing:
- Mercari (4385 JP) | Time to Flee
- Human Capital Disclosure in ‘Yuho’ Report Is Good News, but There Are Challenges
Mercari (4385 JP) | Time to Flee
- Topix inclusion could generate some solid domestic passive buying interest, but we think the fundamentals remain Bearish
- Mercari’s GMV growth in Japan is slowing sharply. We see higher promotional costs impacting margins as competition with PayPay Flea market heats up
- We think that street estimates are too high and we don’t see a reason why the stock should be trading at substantial premium to Z Holdings
Human Capital Disclosure in ‘Yuho’ Report Is Good News, but There Are Challenges
- I would like to discuss the issues on the Nikkei article, “Discussions are underway to disclose human capital in annual securities reports in fiscal 2023.”
- It is good news for investors that the disclosure will be required in the legal documents. However, very few companies translate the document into English.
- Companies should include content that matches the company’s management policy. From the investor’s standpoint, it’s required to carefully analyze whether the disclosed information are consistent with the company’s actual actions.
Before it’s here, it’s on Smartkarma
