LY vs Kakaku.com: why the prices moved differently

Weekly · monthly · quarterly news summaries, side by side in time

LY Corporation (4689.JP)

Q3 20267 Jul – 6 Oct 2026

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LY Corp Q3: Strong Earnings, PayPay Deal, But Kakaku.com Bid Battle

Strong Q1 earnings and raised guidance Q1 revenue rose 13.1% and profit 23.1%, with Media, Commerce, and fintech growing. Management expects to beat full-year guidance, signaling broad-based momentum.
This is the core positive fundamental driver for the quarter.
PayPay–Seven & i alliance PayPay’s alliance with Seven & i links 75 million users to about 22,000 stores, supporting long-term growth in fintech and commerce.
This strategic partnership expands PayPay’s reach and is a key growth catalyst.
LINE OpenChat redesign in Thailand LINE’s OpenChat redesign in Thailand lifted monthly users from 20 million to 24 million and usage sharply, boosting engagement and ad revenue potential.
This shows successful product innovation driving user growth in a key market.
Kakaku.com bidding war raises costs LY’s Kakaku.com bid escalated from 3,384 yen to 3,720 yen amid competition from EQT, raising cash or debt needs and potentially diluting near-term returns. Oasis’s backing improves chances but implies paying more, and the bidding war remains unresolved.
This is the main negative overhang, creating uncertainty and financial strain.

September 202613 Aug – 6 Oct 2026

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Kakaku.com bidding war escalates; LINE app engagement jumps

Kakaku.com bidding war pushes LY's offer higher EQT repeatedly raised its Kakaku.com offer, forcing LINE Yahoo to lift its own bid to 3,720 yen. Paying more for the same target means less value for LY shareholders, and the fight is still unresolved.
The escalating bidding war is the main force moving LY's price this period.
Oasis backs LINE Yahoo's higher bid Fund Oasis, a big Kakaku.com shareholder, said it will not sell to EQT below LINE Yahoo's 3,640 yen offer and called the higher price feasible. That raises the odds LY's consortium wins, though it also means paying more.
A major shareholder's support materially changes the odds of LY's bid succeeding.
LINE OpenChat redesign lifts engagement Moving OpenChat to a more visible tab in Thailand raised monthly users from 20 million to 24 million and usage from 1.8 billion to 2.25 billion times a month. More time in LINE's app supports advertising and services revenue.
This is the clearest new operating win for LY's core platform business.

Latest13 Aug – 6 Oct 2026

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Kakaku.com bidding war escalates; LINE app engagement jumps

Kakaku.com bidding war pushes LY's offer higher EQT repeatedly raised its Kakaku.com offer, forcing LINE Yahoo to lift its own bid to 3,720 yen. Paying more for the same target means less value for LY shareholders, and the fight is still unresolved.
The escalating bidding war is the main force moving LY's price this period.
Oasis backs LINE Yahoo's higher bid Fund Oasis, a big Kakaku.com shareholder, said it will not sell to EQT below LINE Yahoo's 3,640 yen offer and called the higher price feasible. That raises the odds LY's consortium wins, though it also means paying more.
A major shareholder's support materially changes the odds of LY's bid succeeding.
LINE OpenChat redesign lifts engagement Moving OpenChat to a more visible tab in Thailand raised monthly users from 20 million to 24 million and usage from 1.8 billion to 2.25 billion times a month. More time in LINE's app supports advertising and services revenue.
This is the clearest new operating win for LY's core platform business.

July 20267 Jul – 7 Aug 2026

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LY's Kakaku bid escalates as core profit and PayPay surge

LY outbids EQT for Kakaku.com with shareholder backing LY formally offered 3,384 yen per Kakaku.com share, topping EQT's 3,000 yen, and major holder Oasis agreed to tender its 19.52% stake. Winning Kakaku would add a profitable price-comparison and shopping site, lifting LY's growth story.
The bidding war is the period's main new event and directly affects LY's acquisition prospects.
LY and Bain weigh even higher Kakaku bid LY and Bain are considering a fresh joint offer above EQT's 3,450 yen, and LY already raised its own price. Paying more raises the cash or debt needed and could dilute near-term returns, a real cost against the strategic benefit.
Shows the counterweight: escalating price tags mean higher acquisition cost for LY.
Q1 revenue up 13.1%, profit up 23.1% LY reported quarterly revenue of 553.9 billion yen, up 13.1%, with adjusted EBITDA up 23.1% and margin at 28%. Media, Commerce and fintech all grew, and management said full-year guidance should be beaten, supporting the share price.
Core earnings beat is the strongest fundamental driver for the stock this period.
PayPay allies with Seven & i to link payments and stores PayPay agreed a capital alliance with Seven & i, SoftBank and LY to connect its 75 million users with about 22,000 7-Eleven stores. This expands PayPay's reach into everyday shopping, a long-term growth driver for LY as a PayPay shareholder.
New partnership extends PayPay's growth, a key value driver for LY.

7 Jul – 7 Aug 2026

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LY's Kakaku bid escalates as core profit and PayPay surge

LY outbids EQT for Kakaku.com with shareholder backing LY formally offered 3,384 yen per Kakaku.com share, topping EQT's 3,000 yen, and major holder Oasis agreed to tender its 19.52% stake. Winning Kakaku would add a profitable price-comparison and shopping site, lifting LY's growth story.
The bidding war is the period's main new event and directly affects LY's acquisition prospects.
LY and Bain weigh even higher Kakaku bid LY and Bain are considering a fresh joint offer above EQT's 3,450 yen, and LY already raised its own price. Paying more raises the cash or debt needed and could dilute near-term returns, a real cost against the strategic benefit.
Shows the counterweight: escalating price tags mean higher acquisition cost for LY.
Q1 revenue up 13.1%, profit up 23.1% LY reported quarterly revenue of 553.9 billion yen, up 13.1%, with adjusted EBITDA up 23.1% and margin at 28%. Media, Commerce and fintech all grew, and management said full-year guidance should be beaten, supporting the share price.
Core earnings beat is the strongest fundamental driver for the stock this period.
PayPay allies with Seven & i to link payments and stores PayPay agreed a capital alliance with Seven & i, SoftBank and LY to connect its 75 million users with about 22,000 7-Eleven stores. This expands PayPay's reach into everyday shopping, a long-term growth driver for LY as a PayPay shareholder.
New partnership extends PayPay's growth, a key value driver for LY.

Kakaku.com, Inc. (2371.JP)

Q3 20267 Jul – 29 Sep 2026

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Bidding war lifts Kakaku.com as two suitors battle for control

Bidding war escalates Oasis backed the LINE Yahoo/Bain bid with its 19.52% stake, while EQT raised its offer from 3,000 yen to 3,681 yen, extending deadlines. Bain and LY considered a competing bid exceeding EQT's.
This competitive bidding directly pushed shares up nearly 60% year-to-date.
Higher bids raise floor The competition pushed shares up nearly 60% year-to-date, as higher bids raised the floor and improved deal-success odds.
This explains the positive price impact from the bidding war.
KDDI alliance dissolved Kakaku.com dissolved its capital alliance with KDDI, which retains a 17.70% stake and business ties. Management calls the impact minor, but the move removes a stable partner and adds uncertainty about the ownership structure.
This introduces a risk factor that could weigh on the stock despite the bidding war.

September 202619 Aug – 29 Sep 2026

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Bidding war for Kakaku.com intensifies as EQT keeps raising its offer

EQT keeps sweetening its buyout price EQT raised its offer for Kakaku.com three times this period, from 3,571 yen to 3,681 yen, and extended the deadline to October 14. A higher bid puts a higher floor under the share price and raises the odds the deal succeeds, which supports the stock.
The repeated price hikes are the main force pushing Kakaku.com's shares higher.
Two buyers are fighting over the company EQT and the LINE Yahoo/Bain group are both bidding for Kakaku.com, and Oasis, a big shareholder, is pressing for the best price. A bidding war tends to lift the share price because each side must offer more to win.
The competition between bidders is the underlying reason the price keeps rising.
Kakaku.com and KDDI end their capital alliance Kakaku.com dissolved its capital alliance with KDDI, though KDDI keeps its 17.70% stake and business ties continue. The company says the impact on results is minor, but it removes a stable partner and adds uncertainty about the ownership structure.
This is a new structural change that could affect how the buyout plays out.

Latest19 Aug – 29 Sep 2026

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Bidding war for Kakaku.com intensifies as EQT keeps raising its offer

EQT keeps sweetening its buyout price EQT raised its offer for Kakaku.com three times this period, from 3,571 yen to 3,681 yen, and extended the deadline to October 14. A higher bid puts a higher floor under the share price and raises the odds the deal succeeds, which supports the stock.
The repeated price hikes are the main force pushing Kakaku.com's shares higher.
Two buyers are fighting over the company EQT and the LINE Yahoo/Bain group are both bidding for Kakaku.com, and Oasis, a big shareholder, is pressing for the best price. A bidding war tends to lift the share price because each side must offer more to win.
The competition between bidders is the underlying reason the price keeps rising.
Kakaku.com and KDDI end their capital alliance Kakaku.com dissolved its capital alliance with KDDI, though KDDI keeps its 17.70% stake and business ties continue. The company says the impact on results is minor, but it removes a stable partner and adds uncertainty about the ownership structure.
This is a new structural change that could affect how the buyout plays out.

July 20267 Jul – 13 Aug 2026

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Bidding war for Kakaku.com intensifies with higher offers

Oasis backs LINE Yahoo/Bain bid Major shareholder Oasis, with a 19.52% stake, agreed to tender all its shares in the LINE Yahoo-Bain offer at up to 3,500 yen. This support makes a competing deal more likely, pushing the stock up as investors see a higher payout.
This is a new event that increases the probability of a higher bid, directly lifting the stock.
EQT raises offer to 3,450 yen EQT increased its tender offer price from 3,000 to 3,450 yen and extended the deadline to August 3. This higher bid raises the floor for shareholders and signals a competitive process, supporting the stock price.
A new higher offer from EQT directly raises the expected acquisition price, a positive for the stock.
Bain and LY consider even higher bid Bain Capital and LY Corp. are weighing a fresh joint offer that could exceed EQT's 3,450 yen. News of a potential higher bid drove shares up nearly 60% this year, as investors anticipate a bidding war.
This new development suggests further price escalation, boosting investor optimism.
EQT raises offer again to 3,570 yen EQT lifted its tender offer price a second time to 3,570 yen and extended the deadline to August 27. This latest increase in the bidding war continues to push the stock higher as shareholders expect even more.
The newest higher bid directly raises the potential payout, a clear positive for the stock.

7 Jul – 13 Aug 2026

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Bidding war for Kakaku.com intensifies with higher offers

Oasis backs LINE Yahoo/Bain bid Major shareholder Oasis, with a 19.52% stake, agreed to tender all its shares in the LINE Yahoo-Bain offer at up to 3,500 yen. This support makes a competing deal more likely, pushing the stock up as investors see a higher payout.
This is a new event that increases the probability of a higher bid, directly lifting the stock.
EQT raises offer to 3,450 yen EQT increased its tender offer price from 3,000 to 3,450 yen and extended the deadline to August 3. This higher bid raises the floor for shareholders and signals a competitive process, supporting the stock price.
A new higher offer from EQT directly raises the expected acquisition price, a positive for the stock.
Bain and LY consider even higher bid Bain Capital and LY Corp. are weighing a fresh joint offer that could exceed EQT's 3,450 yen. News of a potential higher bid drove shares up nearly 60% this year, as investors anticipate a bidding war.
This new development suggests further price escalation, boosting investor optimism.
EQT raises offer again to 3,570 yen EQT lifted its tender offer price a second time to 3,570 yen and extended the deadline to August 27. This latest increase in the bidding war continues to push the stock higher as shareholders expect even more.
The newest higher bid directly raises the potential payout, a clear positive for the stock.