New Risk • Apr 01
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩37b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩37b free cash flow). Earnings have declined by 13% per year over the past 5 years. Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (13% average weekly change). New Risk • Mar 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (46% increase in shares outstanding). Minor Risk Share price has been volatile over the past 3 months (10% average weekly change). Annonce • Feb 26
Unison Co., Ltd., Annual General Meeting, Mar 27, 2026 Unison Co., Ltd., Annual General Meeting, Mar 27, 2026, at 10:00 Tokyo Standard Time. Location: auditorium, 513, haeansaneop-ro, sanam-myeon, gyeongsangnam-do, sacheon South Korea New Risk • Oct 02
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 32% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (11% average weekly change). Earnings have declined by 16% per year over the past 5 years. Shareholders have been substantially diluted in the past year (32% increase in shares outstanding). Annonce • Sep 17
Unison Co., Ltd. has completed a Follow-on Equity Offering in the amount of KRW 44.217 billion. Unison Co., Ltd. has completed a Follow-on Equity Offering in the amount of KRW 44.217 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 43,148,592
Price\Range: KRW 867
Discount Per Security: KRW 17.34
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 7,851,408
Price\Range: KRW 867
Discount Per Security: KRW 17.34
Transaction Features: Rights Offering New Risk • Aug 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩8.0b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩8.0b free cash flow). Share price has been highly volatile over the past 3 months (13% average weekly change). Earnings have declined by 16% per year over the past 5 years. New Risk • Jun 16
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 14% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Earnings have declined by 20% per year over the past 5 years. Annonce • May 28
Unison Co., Ltd. announced that it has received KRW 37.6 billion in funding from Anemoi Co., Ltd. On May 26, 2025, Unison Co., Ltd., closed the transaction. Annonce • May 23
Unison Co., Ltd. announced that it expects to receive KRW 37.6 billion in funding from Anemoi Co., Ltd. Unison Co., Ltd. announced a private placement to issue Zero Coupon Series 17 Unsecured Private Placement Convertible Bonds due May 26, 2027 for gross proceeds of KRW 37,600,000,000 on May 22, 2025. The transaction will include participation from returning investor Anemoi Co., Ltd. The transaction has been approved by shareholders, restricted to a hold period, expected to close on May 26, 2025, 100% convertible into 21,088,053 shares at a fixed conversion price of KRW 1,783 from May 26, 2026 to April 26, 2027 and bears zero coupon rate, 12% maturity rate and matures on May 26, 2027. New Risk • Apr 22
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 9.3% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 24% per year over the past 5 years. Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-₩12b). Share price has been volatile over the past 3 months (9.3% average weekly change). New Risk • Mar 30
New minor risk - Financial position The company has less than a year of cash runway based on its current free cash flow. Free cash flow: -₩12b This is considered a minor risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 24% per year over the past 5 years. Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Minor Risks Less than 1 year of cash runway based on current free cash flow (-₩12b). Market cap is less than US$100m (₩132.0b market cap, or US$89.8m). Annonce • Feb 19
Unison Co., Ltd., Annual General Meeting, Mar 28, 2025 Unison Co., Ltd., Annual General Meeting, Mar 28, 2025, at 10:00 Tokyo Standard Time. Location: auditorium, 513, haeansaneop-ro, sanam-myeon, gyeongsangnam-do, sacheon South Korea New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (15% average weekly change). Earnings have declined by 22% per year over the past 5 years. Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). New Risk • Dec 07
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended December 2011. This is considered a major risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. In the worst case scenario, it may be facing other major going concern issues jeopardizing its viability as a listed company. Currently, the following risks have been identified for the company: Major Risk Latest financial reports are more than 1 year old (reported December 2011 fiscal period end). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Shareholders have been diluted in the past year (33% increase in shares outstanding). Market cap is less than US$100m (₩118.5b market cap, or US$83.3m). New Risk • Nov 28
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 22% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Shareholders have been diluted in the past year (33% increase in shares outstanding). Market cap is less than US$100m (₩125.6b market cap, or US$89.9m). New Risk • Aug 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -₩20b This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩20b free cash flow). Earnings have declined by 19% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (33% increase in shares outstanding). Market cap is less than US$100m (₩127.3b market cap, or US$95.4m). Reported Earnings • Mar 28
Full year 2023 earnings released: ₩211 loss per share (vs ₩107 loss in FY 2022) Full year 2023 results: ₩211 loss per share (further deteriorated from ₩107 loss in FY 2022). Revenue: ₩107.7b (down 55% from FY 2022). Net loss: ₩26.1b (loss widened 100% from FY 2022). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 38% per year, which means it is significantly lagging earnings. Annonce • Feb 16
Unison Co., Ltd. has filed a Follow-on Equity Offering in the amount of KRW 38.136 billion. Unison Co., Ltd. has filed a Follow-on Equity Offering in the amount of KRW 38.136 billion.
Security Name: Common Stock
Security Type: Common Stock
Securities Offered: 42,000,000
Price\Range: KRW 908
Discount Per Security: KRW 16.344
Transaction Features: Subsequent Direct Listing New Risk • Aug 01
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 3.0% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩3.4b free cash flow). Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 12% per year over the past 5 years. Minor Risk Shareholders have been diluted in the past year (3.0% increase in shares outstanding). New Risk • Jun 08
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of South Korean stocks, typically moving 11% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-₩3.4b free cash flow). Earnings have declined by 12% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (11% average weekly change). Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. 1 independent director (5 non-independent directors). External Director Jin-Soo Song was the last director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 1 highly experienced director. 1 independent director (5 non-independent directors). External Director Jin-Soo Song was the last director to join the board, commencing their role in 2012. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annonce • May 29
Korea Southern Power Co., Ltd. completed the acquisition of additional 40% stake in Jeongam Wind Power Co., Ltd. from Unison Co., Ltd. (KOSDAQ:A018000). Korea Southern Power Co., Ltd. agreed to acquire additional 40% stake in Jeongam Wind Power Co., Ltd. from Unison Co., Ltd. (KOSDAQ:A018000) for KRW 5.8 billion on May 12, 2021. Under the terms, Unison Co., Ltd. will dispose 1.1 million shares. The transaction is expected to close on May 26, 2021.
Korea Southern Power Co., Ltd. completed the acquisition of additional 40% stake in Jeongam Wind Power Co., Ltd. from Unison Co., Ltd. (KOSDAQ:A018000) on May 28, 2021. Korea Southern Power acquired shares at KRW 5204 per share. Reported Earnings • Mar 27
Full year 2020 earnings released: ₩221 loss per share (vs ₩44.00 loss in FY 2019) The company reported a soft full year result with increased losses and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: ₩80.2b (up 5.6% from FY 2019). Net loss: ₩23.4b (loss widened 473% from FY 2019). Over the last 3 years on average, earnings per share has fallen by 41% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Mar 05
New 90-day low: ₩3,815 The company is down 27% from its price of ₩5,200 on 04 December 2020. The South Korean market is up 10.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 1.0% over the same period. Is New 90 Day High Low • Jan 28
New 90-day low: ₩4,345 The company is down 15% from its price of ₩5,130 on 30 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 26% over the same period. Is New 90 Day High Low • Dec 24
New 90-day low: ₩4,725 The company is down 1.0% from its price of ₩4,750 on 25 September 2020. The South Korean market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Electrical industry, which is up 22% over the same period. Annonce • Aug 27
Anemoi Co., Ltd. completed the acquisition of 13.9% stake in Unison Co., Ltd. from Toshiba Corporation (TSE:6502). Anemoi Co., Ltd. signed a contract to acquire 13.9% stake in Unison Co., Ltd. from Toshiba Corporation (TSE:6502) for KRW 19.8 billion on August 21, 2020. Under the terms, Anemoi will acquire 15.51 million shares at a price of KRW 1277 per share. Payment was completed on August 24, 2020. The transaction is expected to close on August 24, 2020. As reported on August 24, 2020, the transaction is expected to close on August 25, 2020.
Anemoi Co., Ltd. completed the acquisition of 13.9% stake in Unison Co., Ltd. from Toshiba Corporation (TSE:6502) on August 21, 2020. 