FILA Holdings reaffirmed its commitment to responsible management and shareholder returns by publicly disclosing on March 20 that it will retire its existing treasury stocks and buy back up to 50 billion won worth of shares this year.The treasury stock retirement and share buyback plan aligns with t
It has been reported that a Korean strategic investor (SI) is considering acquiring Callaway, one of the world’s top three golf brands.According to investment banking (IB) industry sources on March 19, major shareholders such as BlackRock Advisors LLC have selected a sales manager and are pushing fo
The legal risks facing the former President of POSCO, Jang In-hwa, who has been nominated as the next chairman of the POSCO Group, are growing, sparking controversy.According to industry sources, on Feb. 19, the People’s Livelihood Countermeasure Committee filed a complaint against former President
Civic groups in Pohang, North Gyeongsang Province, collectively known as the “POSCO Citizens’ Response Committee,” held an urgent executive committee meeting on Feb. 12 to formally oppose the nomination of former POSCO President Jang In-hwa as the CEO candidate for POSCO Holdings.The Citizens’ Commi
Amid police investigations into allegations of illegal expenditures on a local board meeting in Canada by POSCO Holdings, the holding company of POSCO Group, new suspicions have emerged regarding similarly extravagant overseas board meetings held in the past.According to a comprehensive report by CB
The world’s leading automakers are adopting technologies developed by Korean startups. In particular, major German automakers Benz and BMW are active in using them.PiQuant is a Korean company that develops spectroscopy-based component detection and measurement devices and solutions, and has develope
On the morning of Dec. 23 a fire broke out at POSCO’s Pohang Works, temporarily halting the operation of three blast furnaces. The government and POSCO said that the restart of the furnaces after putting out the fire would not cause any major disruption to the production and supply of products. Howe
The author is an analyst for Shinhan Securities. He can be reached at bh.lee@shinhan.com -- Ed.3Q23 review: Profits hit by weak GDR sales and high overseas SG&AGolfzon posted consolidated sales of KRW170bn (-3.4% YoY) and operating profit of KRW27.5bn (-38.7% YoY) for 3Q23, missing our estimates by
FILA Holdings announced its third-quarter results and a special dividend through public disclosure on Nov. 14.The company’s consolidated revenue reached 990.19 billion won and its operating profit stood at 92.56 billion won, supported by subsidiary Acushnet’s robust sales. The FILA brand’s group-wid
We believe that Shinsegae International’s 3Q23 earnings will miss consensus, citing the combination of slowed consumption, liquidation of inefficient businesses, and withdrawal of a luxury brand (Celine). In 4Q23, the firm is expected to focus on improving its profit/loss picture by adding new brand
Amid concerns of dampened consumer sentiment in the latter half of this year, imported car manufacturers are launching aggressive discount campaigns.According to industry sources on Aug. 23, the “Big Three” German car manufacturers – BMW, Mercedes-Benz, and Audi – initiated their discount promotions
Twelve executives, including the CEO of Saudi Arabia’s Neom, visited Seoul on the occasion of the Neom City exhibition, the first of its kind in Asia.Holding a media conference on July 25, the day before the opening of the Neom exhibition at Dongdaemun Design Plaza (DDP) in Seoul, the executives emp
During the 151st edition of The Open, held in Liverpool, England, from July 20 to 23, Doosan actively engaged in promotional efforts to support the campaign for hosting the Busan World Expo, referred to as Busan Expo, in the area.As an official sponsor of The Open, Doosan effectively conveyed the me
The author is an analyst for NH Investment & Securities. She can be reached at jiyoony@nhqv.com -- Ed.We expect FILA Holdings to report consensus-missing 2Q23 results, affected by widening losses at the US business. Although design commissions and royalties should remain stable, we trim our earnings
The author is an analyst for NH Investment & Securities. He can be reached at jack.baek@nhqv.com -- Ed.With both landfill unit price and volume expected to climb y-y this year, Y-Entec’s environment business should post solid earnings. We expect the firm to obtain a permit for its long-awaited incin
Fifteen companies, including GoPizza and Mathpresso, were selected as this year’s prospective unicorns after overcoming an 8-to-1 competition ratio. This year, a new global category was created for the could-be unicorns, and many startups that could play an active role in the overseas stage were sel
The author is an analyst for NH Investment & Securities. He can be reached at jack.baek@nhqv.com -- Ed.At the top of the Golfzon Newdin Group governance structure, Golfzon Newdin Holdings appears excessively undervalued. While most pure holding companies hold stakes in listed players, unlisted firms
Paris Baguette, a bakery chain owned by South Korea's SPC Group, enjoyed excellent brand promotion effects as it participated as an official sponsor in the Mizuho Americas Open, a tournament on the U.S. Women's Professional Golf (LPGA) tour.The Mizuho Americas Open, a newly launched tourname
The author is an analyst for Shinhan Securities. He can be reached at bh.lee@shinhan.com -- Ed.1Q23 review: Decent top-line growth vs. disappointing marginsGolfzon reported consolidated operating profit of KRW41.5bn (-18.1% YoY) on sales of KRW187bn (+21.5% YoY) in 1Q23. Sales beat market expectatio
The Korea Ginseng Corporation (KGC) signed a sponsorship agreement with LPGA star Andrea Lee on May 19 (local time).Andrea Lee, a Stanford alumni who turned pro in 2019, is considered one of the most watched golfers in the U.S. after winning the LPGA's Epson Tour and the Cambia Portland Classic