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Investing.com - Jefferies initiated coverage on Marui Group Co Ltd (TYO:8252) with a Buy rating and a price target of JPY4,300.00 on Wednesday.
The research firm highlighted that Marui earns approximately 80% of its operating profit from its Fintech business, which has evolved beyond its traditional department store customer base to include online issuance channels.
Jefferies noted Marui is expanding credit card issuance to underserved markets including freelancers and startups, while also offering cards that allow customers to donate rewards to charities of their choice.
The firm identified anime content as a potential growth driver, with Marui leveraging shopping experiences through exhibitions of upcoming anime products, potentially benefiting from the underlying anime market’s expected double-digit growth.
While inbound tourism currently accounts for just 3% of Marui’s sales, Jefferies pointed to the company’s strong position in international anime product sales, which have shown a nine-year compound annual growth rate of 19.8% and a three-year CAGR of 11.6%.
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