There is a bit of uncertainty in valuation likely because it is difficult to see which consolidated entities make money and which ones don’t. Ultimately it’s about understanding what the total picture of equity ownership makes, so a valuation can be attributed to it.
Only the % of profit (or loss) we own of each entity end up in shareholders funds.
If we own 51% equity of the profit making entities, we are only attributed with 51% of the profit (or loss) too.
It’s hard to gauge a valuation as the company is changing so quickly.
DYOR.
HB
Ann: Sole agency - Japan and Korea, page-42
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