Head of Research, IPOs & Placements, Aequitas Research

Sumeet Singh

Head of Research, IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/go-inc" target="_blank" data-smartkarma-citation="entities:49420:1" rel="noopener">GO (581A JP)</a> a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO.</li>
<li>GO combines app-based taxi hailing with in-taxi technology to meet the needs of both users and partner taxi operators through services such as ride matching, payment processing and advertising.</li>
<li>We have looked at the company's past performance in our earlier notes. In this note, we will undertake a peer comparison.</li>
</ul>



GO (581A JP) a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO.
GO combines app-based taxi hailing with in-taxi technology to meet the needs of both users and partner taxi operators through services such as ride matching, payment processing and advertising.
We have looked at the company's past performance in our earlier notes. In this note, we will undertake a peer comparison.


Aequitas: GO Inc Pre-IPO - Listed and Unlisted Peer Comparison

Equity Analyst, LightStream Research

Shifara Samsudeen, FCMA, CGMA

Equity Analyst

Long-Short Analysis on Japan, Asia and the World

LightStream Research

LightStream conducts quantitatively rigorous and data-driven analysis with a focus on Japan and Asia.

We consistently cover the Tech, Consumer and Industrial sectors, and provide ECM and Events coverage more broadly.

We supplement traditional qualitative insights from company relationships with a robust quantitative foundation that examines as much historical data as is available.
We further refine the accuracy of our insights and calls through the use of alternative data to flesh out current trends, and through a valuation framework that emphasises non-superficial peer group selection and a proper attempt to understand the metrics and changes that have driven security valuations in the past.

<ul>
<li>Japan’s leading ride-hailing app <a href="https://www.smartkarma.com/entities/go-inc" target="_blank" data-smartkarma-citation="entities:49420:1" rel="noopener">GO (581A JP)</a> has filed for an IPO on the TSE to list its shares and aims to raise around US$550m through a secondary offering.</li>
<li>The company is the dominant player in the underpenetrated Japanese ride-hailing market, and has seen strong revenue growth, improved profitability and strong cash flows.</li>
<li>GO’s extensive nationwide network in Japan has helped the company outperform its competitors Uber, S. RIDE and Didi.</li>
</ul>


Japan’s leading ride-hailing app GO (581A JP) has filed for an IPO on the TSE to list its shares and aims to raise around US$550m through a secondary offering.
The company is the dominant player in the underpenetrated Japanese ride-hailing market, and has seen strong revenue growth, improved profitability and strong cash flows.
GO’s extensive nationwide network in Japan has helped the company outperform its competitors Uber, S. RIDE and Didi.


<ul>
<li>
<a href="https://www.smartkarma.com/entities/go-inc" target="_blank" data-smartkarma-citation="entities:49420:1" rel="noopener">GO (581A JP)</a> a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO.</li>
<li>GO combines app-based taxi hailing with in-taxi technology to meet the needs of both users and partner taxi operators through services such as ride matching, payment processing and advertising.</li>
<li>In this note, we talk about the not-so-positive aspects of the deal.</li>
</ul>



GO (581A JP) a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO.
GO combines app-based taxi hailing with in-taxi technology to meet the needs of both users and partner taxi operators through services such as ride matching, payment processing and advertising.
In this note, we talk about the not-so-positive aspects of the deal.


Aequitas: GO Inc Pre-IPO - The Negatives - Regulations Could Hamper Growth

<ul>
<li>
<a href="https://www.smartkarma.com/entities/go-inc" target="_blank" data-smartkarma-citation="entities:49420:1" rel="noopener">GO (581A JP)</a> a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO.</li>
<li>GO combines app-based taxi hailing with in-taxi technology to meet the needs of both users and partner taxi operators through services such as ride matching, payment processing and advertising.</li>
<li>In this note, we talk about the positive aspects of the deal.</li>
</ul>



GO (581A JP) a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO.
GO combines app-based taxi hailing with in-taxi technology to meet the needs of both users and partner taxi operators through services such as ride matching, payment processing and advertising.
In this note, we talk about the positive aspects of the deal.


Aequitas: GO Inc Pre-IPO - The Positives - Market Leader by a Wide Margin

IPOs and Catalysts/Events, Global Equity Research Ltd

Arun George

IPOs and Catalysts/Events

Uncompromised, Independent, Conflict-Free Research

Global Equity Research Ltd

Global Equity Research was started in 2017 by a group of experienced research professionals. It was founded on a passionate belief in the importance and the need for uncompromised, independent, conflict-free research. We aim to provide differentiated and actionable primary and bottom up fundamental research.

<ul>
<li>
<a href="https://www.smartkarma.com/entities/go-inc" target="_blank" data-smartkarma-citation="entities:49420:1" rel="noopener">GO (581A JP)</a> is Japan’s leading ride-hailing platform. It is seeking to raise up to JPY86.7 billion (US$549 million). Pricing is on 1 June, with listing on 16 June.   </li>
<li>It was formed in 2020 through the merger of JapanTaxi, a subsidiary of the major taxi operator Nihon Kotsu Group, and <a href="https://www.smartkarma.com/entities/dena-co-ltd" target="_blank" data-smartkarma-citation="entities:747:1" rel="noopener">DeNA (2432 JP)</a>'s mobility division.   </li>
<li>The investment case rests on its leading market position, headroom for growth, strong growth, rising margins, and cash generation. </li>
</ul>



GO (581A JP) is Japan’s leading ride-hailing platform. It is seeking to raise up to JPY86.7 billion (US$549 million). Pricing is on 1 June, with listing on 16 June.   
It was formed in 2020 through the merger of JapanTaxi, a subsidiary of the major taxi operator Nihon Kotsu Group, and DeNA (2432 JP)'s mobility division.   
The investment case rests on its leading market position, headroom for growth, strong growth, rising margins, and cash generation. 


Japan

GO Inc. develops software products. The Company provides taxi data platforms, taxi dispatch systems, and more. GO offers its services in Japan.

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GO (581A JP)

Aequitas: GO Inc Pre-IPO - Listed and Unlisted Peer Comparison

GO (581A JP) a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO. In this note, we will undertake a...

Sumeet Singh

Go Inc. IPO: Driving Growth

Japan's top ride-hailing app GO has filed for an IPO on TSE aims to raise $550m, the company dominates the market with strong growth and...

Shifara Samsudeen, FCMA, CGMA

Aequitas: GO Inc Pre-IPO - The Negatives - Regulations Could Hamper Growth

GO (581A JP) a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO. In this note, we talk about the...

Sumeet Singh

Aequitas: GO Inc Pre-IPO - The Positives - Market Leader by a Wide Margin

GO (581A JP) a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO. In this note, we talk about the...

Sumeet Singh

GO (581A JP) IPO: The Investment Case

GO is Japan’s leading ride-hailing platform. It is seeking to raise up to JPY86.7 billion (US$549 million). In this note, I discuss the investment...

Arun George

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Aequitas: GO Inc Pre-IPO - Listed and Unlisted Peer Comparison

GO (581A JP) a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO. In this note, we will undertake a...

Sumeet Singh

Go Inc. IPO: Driving Growth

​Japan's top ride-hailing app GO has filed for an IPO on TSE aims to raise $550m, the company dominates the market with strong growth and...

Shifara Samsudeen, FCMA, CGMA

Aequitas: GO Inc Pre-IPO - The Negatives - Regulations Could Hamper Growth

GO (581A JP) a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO. In this note, we talk about the...

Sumeet Singh

Aequitas: GO Inc Pre-IPO - The Positives - Market Leader by a Wide Margin

GO (581A JP) a leading taxi app in Japan, aims to raise around US$550m via a secondary selldown in its Japan IPO. In this note, we talk about the...

Sumeet Singh

GO (581A JP) IPO: The Investment Case

GO is Japan’s leading ride-hailing platform. It is seeking to raise up to JPY86.7 billion (US$549 million). In this note, I discuss the investment...

Arun George

Japan's top ride-hailing app GO has filed for an IPO on TSE aims to raise $550m, the company dominates the market with strong growth and...