Yahoo! Inc. CEO Marissa Mayer outlined plans to explore options for the company's stake in its Japanese unit, heartening investors dismayed by another report showing disappointing sales and profit.
The company has hired advisers to consider opportunities to maximize value for its stake of about 35 percent in Yahoo Japan Corp., valued at more than $8 billion (over ¥950 billion), Mayer said on a conference call Tuesday. Earlier, the company said first-quarter sales fell 4 percent to $1.04 billion, and gave a lackluster forecast for the current period.
Since taking the helm in 2012, Mayer has struggled to add users and woo advertisers by focusing on mobile, adding online channels and signing partners. The stock has risen during her tenure largely because of the value of the company's Asian assets, including a stake in Alibaba Group Holding Ltd. that the company plans to spin off later this year. Now, Mayer could seek to placate investors further with payouts from Yahoo Japan.