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Can tourists travel to Japan? Virtual tours make it feel possible

Travelers may not be able attend this year’s Summer Olympic Games, but they can still experience Japan virtually.

As the global pandemic marches on, tourist attractions and enterprising tour guides are finding ways to emulate the look, feel and taste of a trip to the Land of the Rising Sun.

Sightseeing and shopping

For 2,000 Japanese yen ($18), armchair travelers can take a virtual trip to the district of Asakusa through one-hour interactive tours conducted by tour company Tokyo Localized.  

The tour takes viewers down the narrow streets of Asakusa, one of six remaining geisha districts in Tokyo. The area is also home to the Sensoji Temple, Tokyo’s oldest temple; Asakusa Hanayashiki, Japan’s oldest amusement park; and Hoppy Street, famous for yakitori skewers and its namesake, beer-like beverage.

Sensoji Temple’s kaminarimon — or “thunder gate” — was first constructed around 1,000 years ago.

Allan Baxter | The Image Bank | Getty Images

Tours are led by Dai Miyamoto, the company’s founder, who said he shops and mails items to online tourists who repay him via credit card.

Viewers can request online tours of other locations through Japan Online Tour. Fees are $150 per hour, plus transportation fees from Kobe.

Companies such as Tokyo Localized and Japan Online Tour send Japanese products to online tourists’ homes.

Courtesy of Nikhil Shah

Founder Kazue Kaneko said she has one customer who loves Kyoto. She takes him on virtual tours there, where she buys Godzilla figurines, matcha (a finely ground green tea) and other products before shipping them to her client’s home in Los Angeles, she said.

“Now he’s my repeat customer,” she told CNBC.

Step inside Shibuya Crossing

Aside from London’s Abbey Road, it’s rare that a street crossing achieves international acclaim. Yet one of Tokyo’s most recognizable locations, Shibuya Crossing, joins the ranks.  

Crowds walk through Shibuya Crossing in Tokyo, Japan.

@ Didier Marti | Moment | Getty Images

Deemed “the busiest intersection in the world,” the crossing can accommodate an estimated 3,000 people at every light interval. The bursts of organized chaos symbolize Japan’s dedication to the “Four Ps” — patience, politeness, punctuality and precision — attributes that govern one of the most densely-packed societies in the world.

For a 360-degree view of Shibuya Crossing, see CNBC’s interactive feature, which includes interesting facts about the intersection.  

Astute readers will find no fewer than eight people wearing masks, even though the photograph predates the global pandemic. The story explains why.

Folding furoshiki

Virtual tours seldom come with souvenirs, but those who sign up for this furoshiki online workshop are sent a customized package from Japan before the class begins.

Wrapping precious items in furoshiki, or decorative cloth squares, is a centuries-old Japanese tradition. Today, the practice is viewed as an environmentally friendly way to wrap small items without using paper or plastic wrap, though they can also be used as small handbags and home decor.

The Furoshiki cloth is commonly used to wrap presents, however unlike wrapping paper, the cloth is traditionally given back to the gift giver.

imagenavi | imagenavi | Getty Images

This live one-hour class taught in English teaches participants how to wrap gifts and make a handbag out of furoshiki. The cost is 10,000 Japanese yen ($91) for the class, two furoshiki cloths and a pair of rings.

Go inside the Shinkansen

The speed and timeliness of the Shinkansen have made Japan’s bullet trains so well-known that riding on one is considered a tourist attraction unto itself.

Trains regularly reach speeds of 200 miles per hour and have a reputation for arriving and departing on time — to the exact second.

A live cam of the rail tracks in Settsu, a city in the Osaka Prefecture, shows how fast the trains travel. Once the sound of an approaching train is audible, viewers can see it for about eight seconds before it disappears into the distance.  

Online travelers can also go inside the Shinkansen. Google Maps lets viewers explore the length of the train to see how cabins vary by class and comfortability.

Museums and gardens

Online viewers can tour present and past exhibits at The Sand Museum at the Tottori Sand Dunes.

John S Lander | LightRocket | Getty Images

Visitors can explore the virtual walkways of the National Museum of Nature and Science in Tokyo, Japan.

Christopher Jue | Getty Images Entertainment | Getty Images

Tokyo’s neighborhoods

Covering more than 3,100 square miles, Tokyo-Yokohama is one of the largest metropolitan areas in the world. That makes visiting Tokyo’s better-known neighborhoods difficult for tourists on foot.

Stationary live cams provide a glimpse into neighborhoods such as Shinjuku and Ginza, but mobile livestreams more closely mimic the traveler’s sightseeing experience.

Only in Japan, a YouTube channel operated by American John Daub, is livestreaming about the Olympic Games, taking viewers in real-time to the Olympic Stadium and the opening ceremony’s red carpet.

Another YouTube channel, Japan Walk, has several live camera operators that roam the streets of Japan, through major tourist destinations and back alleys, past businessmen on bikes and women in kimono, peering into restaurants and window shopping along the way.

Exploring Hiroshima

Harrowing photographs at the Hiroshima Peace Memorial Museum tell the story of the world’s first atomic bomb, dropped on the southern Japanese city on August 6, 1945, near the end of World War II.

A virtual tour of the museum, entitled “Future Memory,” takes viewers down dark corridors that showcase burned clothing, children’s toys and other items recovered from the blast that killed an estimated 140,000 people. English captions capture testimonies of those who survived the blast and life stories of those who did not.

A virtual tour of the Hiroshima Peace Memorial Museum lets viewers examine objects recovered from the wreckage in 3D.

Carl Court | Getty Images News | Getty Images

One of the better online park tours in Japan is of Hiroshima’s Shukkeien Garden. A location map provides a bird’s-eye view of the area, letting viewers virtually dive in for 360-degree views of the garden’s tea houses, manicured lawns and cherry blossom trees.

Virtual tea classes

Japanese tea ceremonies are going high-tech as instructors turn to the internet to explain the nation’s tea-drinking traditions.

Virtual classes teach viewers how to prepare and drink Japanese matcha at home.

Yue Yoshida / EyeEm | EyeEm | Getty Images

Japanese cultural experience company Maikoya conducts a 45-minute class via Zoom, where for 4,900 Japanese yen ($44) viewers can learn the traditional way to drink from a tea bowl from a live kimono-clad teacher in Kyoto.

For 10,000 yen ($90), Camellia Tea Ceremony, a tea company with two teahouses in Kyoto, sends matcha, a tea scoop, whisk and seasonal sweet treats to participants’ homes before the interactive tea ceremony begins.

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Zoom is buying cloud contact center provider Five9 for $14.7 billion

Eric Yuan, founder and chief executive officer of Zoom Video Communications Inc., center, reacts while ringing the opening bell during the company’s initial public offering (IPO) at the Nasdaq MarketSite in New York, U.S., on Thursday, April 18, 2019. Zoom reported net income of $7.6 million on revenue of $331 million for the year ended January, and is now worth nine times the $1 billion valuation it secured after a funding round two years ago.

Victor J. Blue | Bloomberg | Getty Images

Zoom announced on Sunday that it’s buying Five9, a provider of cloud contact center software, in an all-stock transaction valuing the company at $14.7 billion.

The deal marks Zoom’s first billion-dollar acquisition and comes as the company prepares for a post-pandemic world with employees returning to the office. It’s the second-biggest U.S. tech deal this year, behind Microsoft’s planned $16 billion purchase of Nuance Communications, according to FactSet.

“We are continuously looking for ways to enhance our platform, and the addition of Five9 is a natural fit that will deliver even more happiness and value to our customers,” said Zoom CEO Eric Yuan in a press release.

Five9 closed on Friday with a market cap of $11.9 billion, or $177.60 a share. Zoom said Five9 stockholders will receive 0.5533 shares of Zoom Video Communications for every Five9 share. That values Five9 at $200.28 a share, a 13% premium, and represents about 14% of Zoom’s market cap of close to $107 billion.

Zoom has been among the top growth stories in the 16 months since Covid-19 caused a sudden shutdown of offices across the globe, forcing workers in finance, retail, tech and law offices to communicate from remote locations.

After expanding revenue by 326% in 2020, Zoom faces a natural slowdown, especially as companies reopen and face-to-face meetings resume. While the company has launched new products to reckon with coming changes to its business, it’s now so big that organic growth alone is unlikely to satisfy Wall Street. It also needs new revenue sources as Microsoft ramps up competition in video chat with Teams.

Zoom’s stock price jumped almost 400% last year, though it’s dropped 36% since reaching its peak in October.

Zoom and Five9 since the start of 2020

CNBC

Five9 has seen rapid growth of its own since early 2020, as demand surged for call center technology that would allow representatives to do their jobs from home. Companies had to quickly adapt to cloud software of all sorts, including for their contact centers.

Five9’s revenue climbed 33% to $435 million last year. CEO Rowan Trollope told CNBC’s Jim Cramer in May that the company signed two of its largest deals during the latest period, expecting them to generate more than $20 million combined annually.

“We’re not having to convince customers that cloud is an acceptable option anymore,” he said. “They’re just diving in.”

The deal brings together two former Cisco executives. Yuan, who founded Zoom in 2011, previously helped build WebEx, which Cisco bought in 2007 for $3.2 billion. He stayed at Cisco until he left to start Zoom.

Trollope will become a president of Zoom and remain as CEO of Five9, reporting to Yuan.

Trollope joined Cisco in 2012 after a 22-year career at Symantec. He eventually rose to become senior vice president in charge of all of Cisco’s collaboration products and was seen by some analysts as the top lieutenant to CEO Chuck Robbins. He departed to take the CEO role at Five9 in 2018.

The transaction is expected to close in the first half of 2022. Five9 stockholders still have to approve the deal, and it requires regulatory clearance. Goldman Sachs advised Zoom on the acquisition, and Frank Quattrone’s Qatalyst Partners advised Five9.

The two companies will host a call on Zoom for investors on Monday at 8:30 am New York time.

WATCH: Five9 CEO talks demand for call center tech

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Fastly has room to run to the upside

Fastly: “I like it, but it’s caught up in the Zoom, Peloton, you know it’s caught up in the Zscaler. It’s regarded as a high-multiple stock, but I wouldn’t sell it here. I think this one has room to run to the upside. Maybe not all the way back, but certainly to the upside.”

Taiwan Semiconductor: “Taiwan Semi’s got so many orders, don’t know what to do with it. I would buy it at these levels.”

Retractable Technologies: “I think that this kind of stock right now is not going to be working and I would not be a buyer of Retractable.”

Canoo: “Let’s have them on the show, but this group has become very, very tough … I have to just say right now there are other ways to make money that are easier.”

Nio: “Nio’s got to come down. I mean, there’s just too much hot money in some of these. I recognize that [but] that doesn’t mean I don’t like the company.”

Plug Power: “I’ve got to get them on … We’ve got to find out what the hell is going on.”

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Cathie Wood’s Ark Innovation fund is set for a big rebound Tuesday as Tesla, other tech darlings pop

Cathie Wood, CEO and founder of ARK Invest.

CNBC

Widely followed investor Cathie Wood is about to recoup some of her recent sharp losses as tech stocks rebounded Tuesday after a brutal correction triggered by surging bond yields.

Wood’s flagship active exchange-traded fund Ark Innovation ETF (ARKK) climbed 4.8% in premarket trading on Tuesday. Tesla, the fund’s biggest holding, is up 5.2% in early trading. Among other holdings, Zoom Video is up 4.2%, while Palantir gained 3.7%.

Another big holding Invitae is up 10% in premarket trading Tuesday. She told CNBC on Monday that the company, which operates in the molecular diagnostics space, is one of the firm’s most under-appreciated holdings.

The rebound in ‘ARKK’ came amid a 2% jump in Nasdaq 100 futures as bond yields stabilized. The Nasdaq Composite dropped 2.4% on Monday, falling into correction territory, or more than 10% from its recent high.

Wood, who focuses on innovative technology, has seen stocks fitting her strategy get hammered lately amid a big market rotation out of high-flying tech and into cyclical value stocks in the face of higher rates. The fund lost 5.8% on Monday alone, pushing its 2021 losses to 11%.

High-growth names are hit particularly hard as rising rates make their future profits less valuable today, making the stocks’ lofty valuations less justifiable. Many of her big stakes experienced steep losses over the past month: Tesla has shed 33%, Zoom Video has lost 27%, Palantir is down 41%.

The Ark Investment Management founder and CEO said Monday she is not concerned about the recent drop in her funds and she believes over time her disruptive strategy will pay off.

“Right now the market is broadening out and we think in an underlying sense the bull market is strengthening and that will play to our benefit over the longer term,” said Wood said on CNBC’s “Closing Bell” on Monday.

“We are getting great opportunities” in the sell-off to buy the pure play names in the funds, added Wood.

Wood gained a wide following on Wall Street after a banner 2020 that saw her flagship fund return nearly 150% as the pandemic accelerated innovation trends. The fund’s asset under management has ballooned to more than $17 billion.

— CNBC’s Maggie Fitzgerald contributed reporting.

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Cathie Wood says the underlying bull market is strengthening and she’s finding great buying opportunities in the sell-off

Cathy Wood

Crystal Mercedes | CNBC

Ark Investment Management founder and CEO Cathie Wood said she is not worried about the recent drop in her funds and that the bull market is simply broadening out to include more strategies like value.

The hot handed investor added that over time her disruptive strategy will pay off, and she’s capitalizing on the sell-off.

“Right now the market is broadening out and we think in an underlying sense the bull market is strengthening and that will play to our benefit over the longer term,” Wood said on CNBC’s “Closing Bell” on Monday.

Wood manages five ETFs focused around “disruptive innovation” that have raked in more than $15 billion of investor money this year alone. Ark’s flagship fund — Ark Innovation — returned nearly 150% in 2020 as the pandemic accelerated innovation trends and now has more than $17 billion in net assets. However, ARKK is down about 8% this year amid recent weakness in technology stocks, pressured by rising interest rates.

“We are getting great opportunities” in the sell-off to buy the pure play names in the funds, said Wood. “When we get opportunities like this to invest in pure plays instead of more mature plays…we will move back into pure plays.””

We are becoming more and more optimistic about our portfolios in this sell-off,” she added.

Wood took the recent tech weakness as an opportunity to buy the dip in some of her ETF’s top holdings. Wood has made big purchases of Tesla, Teladoc, Zoom Video and Palantir, according to the firm’s disclosures. Ark Innovation also scooped up shares of Square, Roku, Zillow and Shopify recently.

Wood said Ark Invest is struck that the market never priced in 0.5%, 1%, or 1.5% yield on the U.S. 10-year Treasury.

“We do think the speed of the increase in interest rates is scaring people. It became very comfortable in a low interest rate environment: nothing much changing, the Fed has our back and so forth,” said Wood.

Wood added that this type of pullback happened to Ark during the fourth quarter of 2016, when President Donald Trump was elected and promised to lower tax rates. During that period, Ark’s strategies went negative.

“The bull market was broadening out to incorporate value or more cyclical sectors and I thought that was going to be very good news for our strategies longer run. The worst thing that could have happened to us what another tech and telecom bubble where the market narrowed so that only a few groups won,” said Wood.

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Zoom, Roku, Novavax & more

A trader working after the Nasdaq opening bell ceremony on April 18, 2019 in New York City.

Kena Betancur | Getty Images

Check out the companies making headlines after the bell on Monday:

Zoom Video – Shares of the video communications company popped 8.5% on the back of better-than-expected fiscal fourth-quarter results. Zoom earned $1.22 per share on revenue of $882 million. Analysts polled by Refinitiv expected a profit of 79 cents per share on revenue of $812 million. That revenue figure represents a 369% surge on a year-over-year basis. Zoom also expects revenue to surge by 175% in the fiscal first quarter and by 42% for the full fiscal year.

Roku – Roku’s stock jumped 2.8% on the news that the company is set to acquire Nielsen’s video advertising business. “Combining Nielsen’s AVA technology with Roku’s innovative ad tech and scale will enable us to deliver the benefits of TV streaming advertising to traditional TV,” Louqman Parampath, Roku’s vice president of product management, said in a statement.

Novavax – The vaccine developer’s stock slid 4.2% after the company reported weaker-than-expected fourth-quarter results. Novavax lost $2.70 per share on revenue of $279.7 million. Analysts polled by Refinitv expected a loss per share of $1.49 on revenue of $304.9 million. CEO Stanley Erck told CNBC the company expects government clearance for its Covid-19 vaccine as early as May.

Inovio Pharmaceuticals – Inovio shares slid more than 6% after the company released its latest quarterly figures. The company lost 14 cents per share, while analysts polled by FactSet expected a loss of 22 cents per share. Additionally, Inovio released Phase 3 trial results for a drug aimed at treating HPV.

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