Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Mercari (4385) | Q1 FY25 Results: Stock Down 16%

Mercari's Credit Card Boosts Sales, New Gig Worker Service to Add New Revenue Stream

Mercari (4385) | No Path to Profitability

Geo Holdings: Plenty of Money in Old Rope

Onward on the March: More Profit from Japanese Apparel Firms

Equity Bottom-Up

<ul>
<li>Mercari's US operations, responsible for major losses, saw a workforce reduction by 45%, potentially preceding a market exit to improve overall margins.</li>
<li>Fintech growth is strong, with Mercari issuing over 3 million credit cards, achieving a 67% YoY credit balance increase, despite current operational losses</li>
<li>Mercari Hallo, an on-demand work platform, has rapidly gained users and business partners, positioning it to capitalize on Japan's growing gig economy.</li>
</ul>


Mercari's US operations, responsible for major losses, saw a workforce reduction by 45%, potentially preceding a market exit to improve overall margins.
Fintech growth is strong, with Mercari issuing over 3 million credit cards, achieving a 67% YoY credit balance increase, despite current operational losses
Mercari Hallo, an on-demand work platform, has rapidly gained users and business partners, positioning it to capitalize on Japan's growing gig economy.


Mercari (4385) | Fintech and Gig Economy as Key Catalysts