(Bloomberg Opinion) -- Japan is a country where everything has a recognizable mascot, from tourist sites to the Tokyo police force. But one of the most beloved is soon to be no more. East Japan Railway Co., better known as JR East, announced Tuesday that it’s retiring the iconic penguin that has long adorned Suica, the contactless payment platform for trains in the capital and beyond.Since Suica’s introduction in 2001, the penguin (simply known as “the Suica penguin”) has featured on transit cards and apps ...

Group 1 - SoftBank has sold its entire stake in Nvidia for $5.83 billion, liquidating 32.1 million shares in October [1] - Additionally, SoftBank sold part of its stake in T-Mobile for $9.17 billion [1] - The company's investments in OpenAI and PayPay contributed to a $19 billion gain in its Vision Fund during the fiscal second quarter [2]

Core Point - The U.S. government shutdown has interrupted the regulatory review process for SoftBank's payments app operator PayPay's planned listing in the U.S. [1] Company Summary - SoftBank Corp's President Jun Miyakawa highlighted the impact of the U.S. government shutdown on PayPay's regulatory review [1]

Core Viewpoint - Investors are anticipating that PayPay's valuation may exceed Y3 trillion ($20 billion) as SoftBank prepares for a potential IPO in the US, possibly in December [1][2]. Valuation Expectations - A valuation of Y2 trillion is seen as a starting point, with expectations that the final figure could surpass Y3 trillion [2]. - Discussions with institutional investors regarding the IPO valuation began in mid-September, and any decisions will depend on market conditions at the time of the IPO [2]. Growth Potential - PayPay's current valuation estimates are primarily based on its operational growth within Japan [2]. - Investors are also considering the company's potential for international expansion, which could support a higher valuation [3]. - PayPay has announced plans for users to make payments overseas, starting with South Korea [3]. Financial Performance - SoftBank's telecom arm reported a significant increase in operating profit for its financial segment, which includes PayPay, with profits more than doubling to Y18.1 billion in the April-June quarter [4]. - The focus moving forward will be on the realistic potential for overseas expansion, particularly in the US and Asia [4]. Strategic Developments - PayPay is enhancing its cryptocurrency offerings, having acquired a 40% stake in the Japanese operations of Binance, with plans to introduce new cryptocurrency services [4]. - Ownership of PayPay is shared among several SoftBank affiliates, including SoftBank Corp, the Vision Fund, and LY Corp, a joint venture with Naver Corp [5].

Core Viewpoint - Rakuten is considering an initial public offering (IPO) in the United States for its credit card business, which is one of Japan's largest, amid rising competition and market dynamics [1][2]. Group 1: IPO Considerations - The potential U.S. IPO of Rakuten Card was influenced by rival SoftBank's plans to list PayPay in the U.S. [2] - The discussions regarding the IPO are in early stages, with alternative options including a stake sale to a strategic buyer [1][2]. Group 2: Business Valuation and Stake Acquisition - Mizuho Financial Group acquired a 15% stake in Rakuten Card for 165 billion yen ($1.1 billion), valuing the business at over 1 trillion yen ($7 billion) [3]. - Institutional investors anticipate a baseline valuation of 2 trillion yen for PayPay, with expectations that it could exceed 3 trillion yen during its IPO [3]. Group 3: Importance of Credit Cards to Rakuten - Credit cards are central to Rakuten's business model, which includes online shopping, banking, and travel services, allowing customers to earn loyalty reward points [4]. - Rakuten Card has issued over 30 million credit cards in Japan, with a non-GAAP operating profit growth of 20% to 62 billion yen last year, although it faced a 4.5% decline in the April-June quarter of this year due to increased costs [6]. Group 4: Market Context - The global IPO market is experiencing a resurgence, with the U.S. market having its busiest quarter since Q4 2021, raising $24 billion through first-time share sales in Q3 [7].

Group 1: Company Developments - JD's Qixian Kitchen has launched on Meituan and Taobao Flash Purchase platforms, with plans to establish 10,000 locations nationwide within three years [1] - SoftBank's PayPay is preparing for an IPO in the US as early as December, with an expected valuation exceeding 200 billion yen (approximately $2 billion) [4] - Dongfeng Commercial Vehicle and CATL have established a new five-year strategic cooperation focusing on electric vehicle technology and market expansion [4] - Bohai Automotive has received approval from the Beijing State-owned Assets Supervision and Administration Commission for a major asset restructuring plan [5] - Guangzhou Meet Small Noodles has filed for overseas listing in Hong Kong, planning to issue up to 235,108,000 shares [6] Group 2: Industry Trends - Alibaba's international platform has seen a 30% increase in order volume during the September foreign trade peak, driven by AI enhancements [3] - Google's investment plans include $9 billion in South Carolina by 2027 for data center expansion and $15 billion in India for AI infrastructure [9] - The automotive industry in China has reported production and sales exceeding 24.4 million units in the first nine months of the year, with new energy vehicles accounting for 46.1% of total sales [10]

Group 1: Papa John's Takeover Bid - Papa John's shares rose nearly 10% after a report of a $64 per share takeover bid from Apollo Global, valuing the company at approximately $2 billion [1][2] - The stock continued to show positive movement, increasing by 3% in premarket trading [2] Group 2: Alzheimer's Diagnostic Test Approval - The U.S. FDA approved Elecsys pTau181, a blood-based biomarker test developed by Roche and Eli Lilly for initial assessment of Alzheimer's disease and cognitive decline [3][4] - This test measures phosphorylated Tau (pTau) 181 protein in human plasma, serving as a key biomarker for Alzheimer's pathology [3][4] - Elecsys pTau181 is noted to potentially reduce the need for more invasive and costly diagnostic procedures like PET and CSF testing [5] Group 3: PayPay's IPO Valuation - PayPay, Japan's leading QR code payment app, is expected to have a valuation exceeding $20 billion in its planned U.S. IPO, potentially occurring as early as December 2025 [5][6] - Investor discussions suggest a floor valuation of 2 trillion yen, with market sources indicating the final figure could surpass 3 trillion yen [6][7] - The optimism surrounding PayPay's valuation is attributed to its dominant position in Japan's digital payments market and recent profitability in SoftBank's financial segment [7]

Core Insights - Binance Coin (BNB) is currently testing the $1,300 resistance zone after a brief dip to $1,260, trading at nearly $1,314, which is only 2.5% below its all-time high reached earlier this week [1] - The renewed momentum is attributed to Binance Japan's partnership with PayPay Corporation, which has over 70 million users [1][2] - The partnership aims to integrate PayPay's cashless payment system with Binance's blockchain technology, allowing crypto purchases and withdrawals for Binance users in Japan [2] Market Performance - BNB has surged by 30% since early October, adding approximately $43 billion in market capitalization [3] - Analysts anticipate further upside as altcoins prepare for a broader market rally, fueled by optimism from Binance's Chief Customer Officer regarding new product launches [3] Technical Analysis - The daily BNB price chart indicates strong bullish momentum but shows early signs of potential exhaustion, with the Bollinger Bands widening [5] - The Relative Strength Index (RSI) suggests BNB may be overbought, with a potential pullback towards the $1,250 support level [6] - If momentum continues, BNB could retest $1,350 and potentially rally to $1,500, supported by a bullish MACD crossover [6]

Core Viewpoint - PayPay has partnered with WeChat Pay to allow Chinese tourists to make payments at PayPay加盟店, aiming to increase transaction volume by catering to the growing demand from visitors to Japan [2][4]. Group 1: Partnership Details - Starting from mid-September, WeChat Pay users can scan QR codes at PayPay加盟店 for automatic currency conversion and payment deduction from their WeChat balance [2][4]. - Even stores in Japan that do not support WeChat Pay will accept payments as long as they are PayPay加盟店, enhancing accessibility for users [4]. Group 2: Market Context - The collaboration is timed with the upcoming Osaka Kansai Expo and the autumn foliage season, which are expected to attract more Chinese tourists to Japan [4]. - PayPay is expanding its partnerships with overseas cashless payment services, now supporting users from 14 countries and regions with 26 types of cashless payment services at PayPay加盟店 [5].

Core Viewpoint - SoftBank's stock price increased by approximately 3%, reaching an intraday all-time high following its subsidiary PayPay's submission of a draft registration for a U.S. stock market listing [1] Group 1: Stock Performance - SoftBank Group's stock rose by about 2.7% on the same day [1] - Another subsidiary, LY Company, saw its stock increase by approximately 1.4% [1] Group 2: Market Sentiment - Analysts believe that SoftBank's market value will be enhanced due to PayPay's initial public offering (IPO), which has driven buying interest in its shares [1]