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
The National Pension Service (NPS) has come out against the reappointment of Cho Won-tae, president and chairman of Korean Air, as an inside director, sparking interest in the reasons behind the move.According to the aviation industry on March 17, the NPS’s Fund Management Committee is expected to v
Five activist funds, including City of London Investment Management, have initiated demands for Samsung C&T to retire its treasury stocks and increase dividends.With the combined stake of the five funds amounting to less than 1.5 percent, the likelihood of Samsung C&T accepting their demands is low.
Chairman Lee Chan-hee of Samsung Group’s Compliance Committee revealed on Dec. 19 that, if necessary, the committee plans to convey opinions or recommendations in response to a foreign hedge fund’s call for reforms in Samsung’s corporate governance structure.Speaking to reporters before attending th
FILA Holdings announced on Sept. 14 it will pay out a special dividend to shareholders, drawing attention to its shareholder-friendly stance at a time when dividends paid by listed firms in Korea have been declining due to sluggish economic conditions.FILA Holdings shareholders at the end of this mo
The author is an analyst of NH Investment & Securities. He can be reached at jack.baek@nhqv.com -- Ed.Given likely higher orders this year, Philoptics should enjoy sound earnings both at subsidiary Philenergy (rechargeable battery stacking equipment) and its core business (display laser cutting equi
The author is an analyst of KB Securities. He can be reached at joonsop.analyst@kbfg.com. -- Ed.Maintain BUY, TP of KRW70,000 We maintain BUY and target price of KRW70,000 for SKT. Investment highlights include: (1) anticipation over new growth businesses (e.g., AI, subscription services); (2) high
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. Although Cheil Worldwide’s 4Q22 earnings will likely come in below consensus (on reduced year-end marketing execution by some advertisers), it should display continued double-digit top-line growth.
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. Cheil Worldwide posted 3Q22 OP of W93.1bn, breaking its quarterly record-high on a preemptive response to industry changes. Earnings growth proved strong across all divisions thanks to expansion of
SK Inc., the strategic investment arm of South Korea's SK Group, announced on Aug. 30 that its board of directors has authorized a 200 billion won share repurchase, which accounts for over 1 percent of the company's market capitalization, to enhance shareholders’ value.SK Inc. plans to buy b
The author is an analyst of NH Investment & Securities. She can be reached at yd.yoon@nhqv.com. -- Ed. We lower our TP on Mirae from W11,000 to W8,000, reflecting cuts to our earnings estimates for the firm’s major revenue sources. But, we stick to a Buy rating, anticipating that the firm will furth
The author is an analyst of NH Investment & Securities. He can be reached at jack.baek@nhqv.com. -- Ed. For NICE Holdings, factors impeding earnings growth are being resolved. Former unlisted subsidiary BBS, which suffered significant losses, has been liquidated. For NICE LMS, we expect an earnings
The author is an analyst of NH Investment & Securities. He can be reached at esshim@nhqv.com. -- Ed. Samyang Optics is a maker of third-party interchangeable lenses used in DSLR and mirrorless cameras. The interchangeable lens market is set for rejuvenation on a rise in outdoor activity, a rebound i
The author is an analyst of KB Securities. She can be reached at hyejung.jung@kbfg.com. -- Ed 4Q21 OP of KRW2.4tn (+174.3% YoY) in line with market consensus — POSCO reported 4Q21 preliminary consolidated revenue of KRW21.3tn (+39.8% YoY, +3.4% QoQ), OP of KRW2.4tn (+174.3% YoY, -24.0% QoQ) and NP (
The author is an analyst of Shinhan Investment Corp. She can be reached at heeyeon.lim@shinhan.com. – Ed. 3Q21 NP to come in atKRW165.4bn (+57.0% YoY)Meritz Fire & Marine Insurance is expected to have delivered an earnings surprise for 3Q21, with operating profit of KRW228.7bn (+53.6% YoY) and net p
The author is an analyst of NH Investment & Securities. He can be reached at kyeongkeun.kang@nhqv.com. -- Ed. Given its rapidly growing filter business, sustainable mask division earnings, shareholder-friendly policies backed by strong cash reserves, and inorganic growth potential, we believe that C
The author is an analyst of NH Investment & Securities. He can be reached at junsup@nhqv.com. -- Ed. Samsung Securities’ 1H21 cumulative NP (excluding minority interests) reached W553.5bn, a level higher that its full-year 2020 figure. Given this solid performance, we see 2021E DY of 8.3%.Gap wideni
The author is an analyst of KB Securities. He can be reached at seongjin.kang@kbfg.com. -- Ed. Maintain BUY but lower target price by 5.4% to KRW350,000 We maintain BUY but revise down our TP by 5.4% to KRW350,000 (25.4% upside potential vs. Jul 20 closing price) to reflect downward revisions to 202
The author is an analyst of KB Securities. He can be reached at yc.baek@kbfg.com. -- Ed. Target price raised to KRW532,000 We reiterate BUY on Lotte Chemical and raise our TP 5.6% to KRW532,000 because 2021E/2022E NP (attributable to controlling interests) was revised up 19.3%/1.7% to accommodate up
SK Telecom (SKT) held a Board of Directors’ meeting on May 4 and decided to cancel its treasury shares to boost shareholder value. The company will cancel 8,685,568 shares (worth 2.6 trillion won based on the closing price of its stock on May 3, 2021) which is equivalent to around 10.8 percent of th