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  • Samsung Electronics-3Q14 preliminary results: Earnings hit bottom

    We expect SEC’s weak earnings to continue till 1Q15, however, we believe that the firm has already been the bottom point, meaning that it is the chance for investors to buy SEC. We believe that sal...

    2014-10-08 14:25
  • Hyundai Hysco-Earnings surprise again; revise up TP

    Hyundai Hysco recorded earnings surprise again in 2Q14 following 1Q. We revise up our EPS estimates by 17% in 2014 and 39% in 2015. Also, we revise up our TP from W65,000 to W110,000, maintaining B...

    2014-08-11 15:36
  • Medytox-Record-high earnings expected in 2Q14

    Record-high earnings expected in 2Q14 Despite Daewoong Pharm’s launch of Nabota, Medytox should sustain strong domestic sales growth thanks to its new product offerings. We expect the firm to post...

    2014-07-21 15:42
  • [IMK] Right on track

    Right on track We believe that IMK is on a solid earnings growth track, noting that: 1) the benefits of its acquisition of Allen Care should be in full effect from 2Q14; and 2) the firm is enjoy...

    2014-06-11 17:04
  • DGBFG-2Q14 results to miss consensus only slightly

    Net profit (excl. minority interests) should grow 37% q-q to W73.8bn in 2Q14 and the growth should continue through 3Q14. Sound growth and margin continued in 2Q14 following 1Q14 x Positive gro...

    2014-06-11 16:50
  • Hyundai Steel– 2Q14 earnings to outperform the market consensus

    Both sales volume and sales are likely to record historical high in 2Q14. Operating profit is likely to increase by 30.6%(q-q), outperforming the market consensus by 8.7%. We stand by Hyundai Steel...

    2014-06-11 16:48
  • [HHIC]Amid delayed asset disposal, share issuance aimed at easing liquidity and debt issues

    Amid delayed asset disposal, share issuance aimed at easing liquidity and debt issues Due to delayed asset disposals, HHIC has decided to increase its capital by issuing new shares-a move directed...

    2014-06-09 08:43
  • Silicon Works-Implications of LG Group’s acquisition

    May 23, LG Group bought Silicon Works, a local developer for logic chips, for W86.5bn. We expect the synergy-effect driven by both LG and Silicon Works’ sensor business aiming automobile market. We...

    2014-05-26 14:05
  • Naver-Operating leverage effects from LINE starting to emerge in 2014

    Thanks to the solid performance of LINE, NAVER’s operating leverage is becoming more visible. Accordingly, we stick to our Buy rating and target price of W1,000,000, maintaining the play as our sec...

    2014-05-19 15:26
  • Tovis-Growth to be led by sales of curved monitors for casino gaming machines

    With sales of the firm’s newly launched casino gaming machine monitors (rolled out in March) set to be fully reflected in 2Q14, we expect Tovis to post record-high quarterly sales and operating pro...

    2014-05-19 15:22
  • NHN-1Q14 results sluggish on web-board regulations

    Due to the introduction of web-board game regulations, NHN Entertainment recorded worse-than-expected 1Q14 results. Against this background, we expect investor sentiment towards the firm to weaken ...

    2014-05-19 15:20
  • Samsung Electronics-KRW appreciates and smartphone shipments fall

    Lower 2Q14 outlook on strong won and weak smartphone shipments We lower our 2Q14 earnings estimates to sales of W55.2tn (previously W56.6tn, down 2.4%), OP of W8.8tn (W9.3tn, down 5.2%) and NP of...

    2014-05-16 08:53
  • Youngone Holdings-1Q14 review: Bright outlook despite difficult conditions

    ▶ 1Q14 consolidated sales grew 22% YoY to W293.7bn and OP gained 35% YoY to W44.3bn. Youngone, a subsidiary (50.2% owned by Youngone Holdings) and an apparel OEM, generated OP of W25.5bn, up 18% Yo...

    2014-05-16 08:51
  • Toshiba’s NAND investment in line with expectation

    Japanese newspaper reports Toshiba capex of JPY700bn over 3 years On May 12, Japan’s Sankei News reported that Toshiba will invest JPY700bn (USD6.8bn) for NAND Flash over the coming three years. T...

    2014-05-16 08:47