(Bloomberg) — Mercari Inc., the online flea-market operator that has become one of Japan’s most closely watched tech ventures, is closing in on new highs as the stock has drawn both big and small money.

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The company has already grown to command the largest weighting on Japan’s startup-focused Mothers index as individual investors buy in — of some 230 of the largest Japanese companies with market value of over $5 billion, Mercari has the third-highest percentage of individual shareholders. Then on Oct. 7, Los Angeles-based money manager Capital Group declared it had taken a 5% stake in Mercari.

That’s helping propel the stock to near the 6,000 yen mark it hit just once, on the day it listed to great fanfare in 2018. After a rapid decline, the stock has worked its way back up this year, fueled by its first quarterly operating profit. That’s been helped by the coronavirus pandemic, which has boosted usage of its online marketplace where users buy and sell items.



graphical user interface, chart, histogram: Mercari shares are nearly back to the post-IPO pop


© Bloomberg
Mercari shares are nearly back to the post-IPO pop

Mercari fell 0.2% in Tokyo on Tuesday. A gain of just 3.3% in the next trading session would see it match the 6,000 yen high.

Mercari is something of a rarity in Japan, which has few tech startups that have swelled to the size of the $8.6 billion company, according to Ikuo Mitsui, a fund manager at Aizawa Securities Co., who is still bullish on the firm after the share surge.

“In Japan there are very few companies like this, light on assets and not requiring large-scale capex,” he said. That’s why many are piling onto the stock, he added.

It’s even more unusual for being a Japanese startup that is starting to see success on its app outside of its home

(Bloomberg) — Mercari Inc., the online flea-market operator that has become one of Japan’s most closely watched tech ventures, is closing in on new highs as the stock has drawn both big and small money.

Loading...

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The company has already grown to command the largest weighting on Japan’s startup-focused Mothers index as individual investors buy in — of some 230 of the largest Japanese companies with market value of over $5 billion, Mercari has the third-highest percentage of individual shareholders. Then on Oct. 7, Los Angeles-based money manager Capital Group declared it had taken a 5% stake in Mercari.

That’s helping propel the stock to near the 6,000 yen mark it hit just once, on the day it listed to great fanfare in 2018. After a rapid decline, the stock has worked its way back up this year, fueled by its first quarterly operating profit. That’s been helped by the coronavirus pandemic, which has boosted usage of its online marketplace where users buy and sell items.



graphical user interface, chart, histogram: Mercari shares are nearly back to the post-IPO pop


© Bloomberg
Mercari shares are nearly back to the post-IPO pop

Mercari is something of a rarity in Japan, which has few tech startups that have swelled to the size of the $8.6 billion company, according to Ikuo Mitsui, a fund manager at Aizawa Securities Co., who is still bullish on the firm after the share surge.

“In Japan there are very few companies like this, light on assets and not requiring large-scale capex,” he said. That’s why many are piling onto the stock, he added.

It’s even more unusual for being a Japanese startup that is starting to see success on its app outside of its home country. The pandemic was a boon to its U.S. operations, which saw gross merchandise value (GMV) jump almost threefold in the quarter ended June from

Much has been written about the pandemic-precipitated problems plaguing real estate’s commercial sector. But with office and retail-oriented real estate feeling the ill effects of COVID-19, there’s one sector that seemingly remains in the pink of health.

That is the commercial real estate industry’s industrial sector, comprised of factories, warehouses, distribution centers, fulfillment centers, data centers and similar real property. JLL
JLL
recently reported e-commerce represents half its U.S. leasing activity, an increase from the 36% number registered prior to the onset of COVID-19.

The firm projects an anticipated $900 billion increase in online sales over the next half decade will translate to need for more than one billion additional square feet of industrial real estate by 2025.

In few places is the metamorphosis more evident than in the Chicago metropolitan area, which is able to leverage its advantage as a central U.S. transportation hub in supplying the factory, warehouse and fulfillment center needs of companies nation- and worldwide. A recent snapshot of the Chicago metro’s industrial market reveals new industrial leasing soared by 56.3 % year-over-year, based on 21.2 million square feet in new leasing activity, according to the latest Cushman-Wakefield report.

Surging demand

“Industrial assets remain largely insulated from the pandemic’s devastating economic toll,” says Robert Smietana, vice chairman and CEO of Chicago-based HSA Commercial Real Estate, which recently inked an enormous lease for its 757,880-square-foot, new construction warehouse project in the southwestern Chicago suburb of Shorewood, Ill., near Joliet.

“In recent months, we’ve seen demand for warehouse space surge as consumers and businesses rely on e-commerce for everyday needs. Supply chains have shifted in response to these broader changes, which have