J.P.摩根-亚太地区-互联网行业-网上订餐是餐厅信息网站的关键，但仍处于初期阶段，过于乐观或悲观-2018.1.25-44页

www.jpmorganmarkets.comAsiaPacificEquityResearch25January2018EquityRatingsandPriceTargetsMktCapRatingPriceTargetCompanyTicker(?bn)Price(?)CurPrevCurPrevKakaku.com(2371)2371JT403.311,915Nn/c1,8001,600Gurunavi(2440)2440JT67.171,380Nn/c1,4001,700Source:Bloomberg,J.P.Morganestimates.n/c=nochange.Allpricesasof24Jan18.InternetSectorOnlineReservationstheKeyforRestaurantInformationSites,butStillEarlyStage,TooSoonforOptimismorPessimismJapanEquityResearchInternet,Games,MediaHarukaMoriAC(81-3)6736-8632haruka.mori@jpmorgan.comBloombergJPMAMORIYingTan(81-3)6736-8638ying.x.tan@jpmorgan.comJPMorganSecuritiesJapanCo.,Ltd.Seepage40foranalystcertificationandimportantdisclosures,includingnon-USanalystdisclosures.J.P.Morgandoesandseekstodobusinesswithcompaniescoveredinitsresearchreports.Asaresult,investorsshouldbeawarethatthefirmmayhave