Top of the Great Era

Chapter 2245 Imagination is Hope
Yahoo Japan is now worth less than $180 billion, down from past years.However, the financial report for the first quarter has been announced, with revenue of 9.7 million US dollars and profit of 3.8 million US dollars.

This is shocking.

Yahoo Japan estimates that its annual profit this year will reach US$13 billion to US$14 billion, but the current market value given by the market is only US$180 billion, which means that the price-earnings ratio is only about 13 times.

Extremely pessimistic!

Now is the Internet era, and the P/E ratio of almost any Internet company generally exceeds 50 times. Facebook, which is about to go public, easily exceeds 100 times.

It can also be seen from this that Yahoo Japan has lost its imagination.

But Masayoshi Son doesn't think so.

He believes that the market has seriously underestimated the value of Yahoo Japan, and now is the best time to pick up the bottom.If the shares in Yahoo's hands can be recovered when the stock price is at its lowest, there must be huge profit margins in the future.

Based on Sun Zhengyi's understanding of Zhou Buqi, he felt that this kid would not use a high proportion of stocks to make troubles within Yahoo Japan, and he should not be able to do such immoral things.

However, he still has to use this as an entry point to start negotiations.

It can't be said that his main purpose of repurchasing Yahoo Japan's stock is potential capital gains, right?
Little did he know that Zhou Buqi had the exact opposite idea.

Taking advantage of the fact that the stock price of Yahoo Japan is still quite high, sell it as soon as you can!

The more you delay, the more you lose.

Yahoo Japan is undoubtedly the largest Internet company in Japan, but its business has become stagnant and has lost its vitality.

The biggest bright spot is the high flow rate.

This is also the reason why Zhou Buqi wants to promote the cooperation between Ziweixing Japan and Yahoo Japan, to use their super traffic to develop their own business.

Before that, Zhou Buqi had communicated with Chen Dong.

Chen Dong said that Yahoo Japan integrated and reorganized its e-commerce business last year, and launched the Yahoo Japan Mall, which immediately became the e-commerce platform with the highest traffic in Japan!

How exaggerated are the figures?

Rakuten Market is currently the largest e-commerce platform in Japan, but in terms of traffic, Rakuten is only one-seventh of Yahoo Japan Mall, but its turnover is more than 700 times that of Yahoo Japan Mall.

Not to mention comparing with Rakuten, Yahoo Japan Mall can’t even touch the heels of Chen Dong’s Jingtao.There is super invincible traffic in the air, but the business is not good, and there are no consumers.

When it comes to the era of mobile Internet, it will be even worse.

Zhou Buqi must sell Yahoo Japan's stock as much as possible while ensuring its influence on Yahoo Japan's shares, cash out at a high price, and leave the market as soon as possible.

Sun Zhengyi was satisfied, and Yang Zhiyuan was also satisfied.

After the meeting, after some chatting and Boss Ma beating side drums, a plan was quickly reached.

Yahoo will retain 15% of the shares and sell the other 35% to the SoftBank consortium for $20 billion.Ziweixing International has completely solved the financial problem in the acquisition of Yahoo.

This operation is very capitalized.

Use the assets of Yahoo in the future to raise money to buy Yahoo now.

Come happily, leave happily.

Boss Ma said with great emotion: "The timing of your move is really well grasped! If you can't do it a few months earlier, when Yang Zhiyuan has not stepped down; if you can't do it a few months later, maybe the current CEO Thompson will leave by then. Yes, Yahoo's board has been reshuffled. Now is the perfect time."

"Really?" Zhou Buqi was a little dazed, "Yes, from what you said, it's really true, and I'm lucky."

Boss Ma laughed and scolded: "Just pretend!"

Zhou Buqi said: "In the transaction, everyone gets what they need. Yang Zhiyuan's reputation has been preserved, and I promised him to be the director of Ziweixing International; Carl Icahn and some other capital institutions behind it have experienced several twists and turns. After that, I finally found an opportunity to withdraw; you are satisfied, and Masayoshi Son is also satisfied. How can this transaction not be successful?"

Boss Ma said: "Now you can make a lot of money!"

"What did you earn?" Zhou Buqi sighed disapprovingly, "Yahoo has many internal factions, frequent internal fighting, and its business is also rigid, similar to Yahoo Japan. There are all kinds of messy businesses, but there are not many. It is available. It is expected to complete the transaction at a price of 240 billion to 250 billion US dollars, and the risk is too great.”

Boss Ma doesn't believe it. I have known this kid for so many years, and I have never seen him do any loss-making business. "Alibaba's stock is 75 billion U.S. dollars, and Yahoo Japan's stock is 35 billion U.S. dollars. Once these two assets are sold, that is 110 billion US dollars, half of Yahoo has come out. And Yahoo still has 20% of Ali’s stock and 15% of Yahoo Japan’s stock. These investment businesses alone are worth 250 billion US dollars. You think I am Is it two hundred and five?"

Zhou Buqi said with a smile: "Originally, Yahoo's own business is all negative equity. If it didn't have its own business, Yahoo's current market value might be 300 billion US dollars."

Boss Ma's complexion changed slightly, and he looked at him cautiously, "Are you really going to make a big move against Yahoo?"

Yahoo has too much business.

They have almost all Internet-related businesses, but they are big but not sophisticated, and they can't make ends meet... Except for cost, they really can't create any value.

These become negative assets.

This is also an important reason why the management wants to transform Yahoo. As long as all these negative assets are stripped, abolished or sold, and dismembered, Yahoo's stock price will rise.

However, most of these businesses are done by Yang Zhiyuan commanding the overall situation.

Although these businesses are losing money now, this is the future of Yahoo! It is the guarantee of imagination!If one day in the future, one of the businesses is a great success, then Yahoo will recover from point to point.

If these businesses are really dismembered, Yahoo's imagination will be gone, and it will really be reduced to a mediocre company on the edge, with no hope of revival.

These are Yang Zhiyuan's painstaking efforts, and he is unwilling to give up.

If after Zhou Buqi acquired Yahoo, he turned his face and gave up all the related negative equity business... Then he would definitely have a serious disagreement with Yang Zhiyuan.

Zhou Buqi said frankly: "Yahoo's main business is actually valuable in three parts, Yahoo.com, Yahoo Search and Yahoo Mail. Other businesses are of little value."

Boss Ma frowned, and said cautiously: "Then you have to deal with it, don't have a disagreement with Yang Zhiyuan at that time, and extend the original internal contradictions of Yahoo to Ziwei Star International."

Zhou Buqi smiled, "That's not true. Even if you want to get rid of Yahoo's negative assets, you have to wait until the digestion and integration are completed."

"Difficult!" Boss Ma shook his head and sighed, "Alibaba bought Yahoo China and integrated it for several years, but there was no good effect. Now it has basically given up on this business."

Zhou Buqi said: "I have a solution."

"You have?"

Boss Ma was dubious.

Zhou Buqi said with a smile: "The spirit of a company is largely due to the hope for the future. If there is hope, there will be enthusiasm. If there is no hope, there will be a stagnant pool. Yahoo in the past was really impressive at all levels. Without any hope, they are playing internal power struggles from top to bottom, and have changed from making cakes to sharing cakes."

This is a very common economic phenomenon.

When the economy is good, all walks of life are working hard to make the cake bigger, and only when the cake is bigger can they get more; when the economy is down, everyone loses expectations for the future and cannot see the cake As soon as possible, I started to devote all my thoughts on making cakes to dividing the cakes, and started to fight for each other and engage in internal fighting.

Imagination is hope.

Once you lose your imagination, it will only get worse.

That's the case with Yahoo right now.

Boss Ma raised his eyebrows, a little surprised, "Can you make a cake for Yahoo?"

Zhou Buqi said: "Today's headlines are developing very well in China, with more than 7000 million mobile phone users. It is the largest mobile news platform, with more users than all other portals combined."

"Will the Yahoo App develop in this direction?"

Boss Ma felt that this road would not be so easy.

Zhou Buqi said: "At least you can try. Ziweixing International has a lot of layout in the content field in recent years, and there is no shortage of high-quality content. At least it can give Yang Zhiyuan hope."

"Depend on!"

Boss Ma slapped his thigh, and then he saw through the kid's thinking.

The last sentence is the key!
Let Yang Zhiyuan see hope, and the differences can be settled, so some hopeless businesses can be cut off logically.

(End of this chapter)