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.

Japan Telecoms - Strong Dollar a Boon for NTT and Softbank Group, Bad for Mercari

Japan Weekly | Renova, Mitsubishi Motors, Mercari

Mercari (4385) | Analysts Anchored to Outdated Views

Equity Bottom-Up

<ul>
<li>Mercari reported full year operating loss of ¥3.7b on sales of ¥147b, while providing no guidance for the coming year </li>
<li>We remain most concerned about the US business, where GMV is declining and losses look entrenched </li>
<li>Mercari JP is also clearly slowing, partly due to post-Covid, but also due to rising competition  </li>
</ul>


Mercari reported full year operating loss of ¥3.7b on sales of ¥147b, while providing no guidance for the coming year 
We remain most concerned about the US business, where GMV is declining and losses look entrenched 
Mercari JP is also clearly slowing, partly due to post-Covid, but also due to rising competition  


Mercari (4385) | No Path to Profitability