After enduring difficulties in the first quarter, major Korean entertainment companies have been aggressively marketing themselves. They are also changing their consumer bases, shifting from a profit structure that relies on core fans to target light fans, those who consume music lightly.According t
Foreign investors are shedding their holdings in secondary stocks in each industry and concentrating on the top stocks. With the resurgence of confidence in the semiconductor sector, they are buying both the top and secondary stocks in the semiconductor industry, but their interest seems to be focus
The author is an analyst for Shinhan Securities. She can be reached at inhae.ji@shinhan.com -- Ed.Earnings hit a new high in 2Q23JYP Entertainment set new record-high earnings with sales of KRW151.7bn (+124% YoY) and operating profit of KRW45.7bn (+88% YoY) in 2Q23. Both sales and operating profit f
It has been found that the foreign ownership percentage of top market capitalization stocks has increased this year. Notably, foreign investors have extended their financial commitments into the domains of defense and construction.According to data released by the Korea Exchange on Aug. 2, the numbe
The author is an analyst for NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.In 1H23, the entertainment and casino industries are enjoying solid earnings, despite worries over economic slowdown. As these industries are backed by fans and personal preferences, they remain rel
The author is an analyst for NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.We raise our TP on JYP Ent to W140,000 (from W110,000), reflecting not only higher-than-expected sales growth for albums and concerts, but also hefty additional sales (MD, IP licensing) alongside gl
The market cap of JYP Entertainment topped three trillion won with a new international girl group about to debut in the United States.The KOSDAQ-listed company’s stock price has risen 26.4 percent this year. The price hit an all-time high of 88,300 won (US$66.42) and the market cap topped three tril
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com -- Ed.We raise our TP on JYP Ent by 29% to W110,000. Its main artists, Twice and Stray Kids, are leading growth in the US and China, respectively. Moving ahead, it is worth focusing on export market expans
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed.In early January, YG Ent released both a teaser for the launch of a new girl group and plans for G-Dragon’s solo activities. We anticipate that the firm’s biggest weakness (ie, excessive dependence
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. We initiate coverage on SM Ent with a Buy rating and TP of W105,000. As a K-pop industry powerhouse, SM Ent has differentiated itself by leveraging its accumulated knowhow in the implementing of ne
The stock price of HYBE dropped 24.87 percent to close at 145,000 won per share on June 15. Disposal by institutional investors amounted to 46.5 billion won and the lowest level of the day was 139,000 won. The market cap of the company dropped 1.985 trillion won on June 15 alone. This is because BTS
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. JYP Ent’s 1Q22 OP arrived in line with consensus. Its overall lineup is showing even earnings growth. It is worth paying attention to strong album sales following the expansion of fandoms of new gr
The author is an analyst of Shinhan Investment Corp. She can be reached at inhae.ji@shinhan.com. -- Ed. Initiate coverage on entertainment sector with OVERWEIGHT viewThe combined market cap of four entertainment companies (HYBE, SM Entertainment, YG Entertainment, JPY Entertainment) has dropped 24%
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. We raise our TP on JYP Ent to W59,000. The change reflects both a shift in base year to 2022 and a premium to the firm’s valuation multiple considering the growth potential of metaverse- and NFT-re
The authors are analysts of Shinhan Investment Corp. They can be reached at jwsung79@shinhan.com and hanny.lee@shinhan.com, respectively. -- Ed. 4Q20 consolidated OP reported at KRW10.5bn (-22% YoY)JYP Entertainment posted consolidated operating profit of KRW10.5bn (-22% YoY) on sales of KRW41.7bn (
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. 4Q20 review: Focus on brisk sales for overseas digital streamingWe adhere to a Buy rating and a TP of W46,000 on JYP Ent. We can confirm that relatively-new artists NiziU and STRAY KIDs are both en
The author is an analyst of Shinhan Investment Corp. He can be reached at mj1224@shinhan.com. -- Ed. Set to emerge as content sector bellwether via large investmentsNAVER recently acquired Wattpad, the world’s largest web novel platform, boosting expectations for expansion of the content business. W
GOT7 decided on Jan. 11 not to extend its contract with JYP Entertainment from Jan. 19. Then, the stock price of the entertainment company fell 4.23 percent. This year is the seventh year of the contract and GOT7, which sold more than 450,000 albums last year, has become another one of many K-pop id
The author is an analyst of NH Investment & Securities. She can be reached at hzl.lee@nhqv.com. -- Ed. In Japan, newcomer NiziU recorded album sales 1.2x higher than those recorded by TWICE. Taking into account the export capabilities of JYP’s K-pop artist training system, we increase our 2021 earni
The authors are analysts of Shinhan Investment Corp. They can be reached at jwsung79@shinhan.com and hanny.lee@shinhan.com, respectively. -- Ed.IPO of Big Hit EntertainmentBig Hit Entertainment, the label behind the boy band BTS, is slated to go public next month. The growth strategy of the company,