Ly Corporation update

LY Corp is a Japanese tech conglomerate with segments in online advertising, e-commerce, and online payments (PayPay). The company shows steady growth with group revenue up 7.6% and adjusted EBITDA up 21.7% YoY. The media business has high margins (39%), and the account ads on the LINE messaging platform are growing at 20%. While e-commerce growth has slowed to single digits post-COVID, the fintech arm, PayPay, is now profitable and growing. The company plans a 6.4% share repurchase. Trading at a P/E of around 19-20, it's not considered cheap but is a quality company with decent growth prospects. The undervalued Yen and other assets like Line Man (a Thai food delivery app) add to its potential.