NAVER expects to re-evaluate global platform companies… Target price↑-IBK

[이데일리TV 이지혜 기자] Naver is expected to be reevaluated as a global platform company, as Naver’s Japanese subsidiary Line and the holding company A Holdings, the result of the management integration of Yahoo Japan, the second largest search market in Japan, were launched on the 1st. On the 2nd, IBK Investment & Securities raised its target price by 25% from KRW400,000 to KRW500,000, saying that it is expected to strengthen its global business based on the launch of A Holdings in Japan and expansion of M&A.

A Holdings is a strategic holding company for Line and Yahoo, and will hold 65.3% of Z Holdings. Naver and Softbank, which are the joint largest shareholders of Z Holdings, each hold 50% of A Holdings’ stock, and A Holdings will become a consolidated subsidiary of SoftBank.

IBK Investment & Securities researcher Lee Seung-hoon said, “The effect of Naver’s line integration will reflect 100 billion won of equity method gains per quarter.” It will be more than four times larger than that in search and e-commerce.”

It is also expected to strengthen domestic and overseas businesses such as commerce and e-commerce. According to IBK Investment & Securities, it is expected to have a virtuous cycle effect of influencing global users to the Naver platform by acquiring shares of Whatpad, a subsidiary of BNX, the largest web novel platform in the world in January this year. In addition, it is evaluated that it has secured an advantage in e-commerce competition through cooperation with logistics and distribution companies such as, etc.

“In the portal part, after the M&A, market dominance in the global content sector is strengthening, and the value of Naver shopping is being reviewed due to the issue of listing in Coupang.”