Buy Or Sell Opportunity • May 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 20% to ₩45,850. The fair value is estimated to be ₩57,473, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 26%. Valuation Update With 7 Day Price Move • Mar 20
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₩52,900, the stock trades at a trailing P/E ratio of 36.9x. Average trailing P/E is 10x in the Luxury industry in South Korea. Total returns to shareholders of 15% over the past three years. Annonce • Mar 12
BYC Co., Ltd., Annual General Meeting, Mar 27, 2026 BYC Co., Ltd., Annual General Meeting, Mar 27, 2026, at 09:01 Tokyo Standard Time. Location: conference room, geumcheon-gu, seoul South Korea Annonce • Mar 11
BYC Co., Ltd. announces Annual dividend, payable on April 23, 2026 BYC Co., Ltd. announced Annual dividend of KRW 400.0000 per share payable on April 23, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. 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 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 Risk Earnings have declined by 11% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (11% average weekly change). Profit margins are more than 30% lower than last year (7.4% net profit margin). Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to ₩43,600, the stock trades at a trailing P/E ratio of 30.4x. Average trailing P/E is 12x in the Luxury industry in South Korea. Total loss to shareholders of 19% over the past three years. Valuation Update With 7 Day Price Move • Feb 04
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩48,800, the stock trades at a trailing P/E ratio of 34x. Average trailing P/E is 11x in the Luxury industry in South Korea. Total returns to shareholders of 27% over the past three years. Valuation Update With 7 Day Price Move • Dec 12
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩48,150, the stock trades at a trailing P/E ratio of 33.6x. Average trailing P/E is 10x in the Luxury industry in South Korea. Total returns to shareholders of 38% over the past three years. New Risk • Dec 07
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 7.4% Last year net profit margin: 12% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 11% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (7.4% net profit margin). Annonce • Oct 30
BYC Co., Ltd. (KOSE:A001460) announces an Equity Buyback for KRW 3,000 million worth of its shares. BYC Co., Ltd. (KOSE:A001460) announces a share repurchase program. Under the program, the company will repurchase up to KRW 3,000 million worth of its shares pursuant to a contract with Shinhan Investment & Securities Co., Ltd. The purpose of the share repurchase is stock price stabilization and to enhance corporate value. The repurchase program will expire on April 30, 2026. As of October 29, 2025, the company had 78,164 shares within scope available for dividend and had 80 shares in treasury through other repurchase. New Risk • May 15
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 8.3% Last year net profit margin: 14% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 7.2% per year over the past 5 years. Minor Risk Profit margins are more than 30% lower than last year (8.3% net profit margin). Valuation Update With 7 Day Price Move • May 14
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩32,550, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 9x in the Luxury industry in South Korea. Total loss to shareholders of 24% over the past three years. Annonce • Mar 12
BYC Co., Ltd., Annual General Meeting, Mar 28, 2025 BYC Co., Ltd., Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 131, gasandigital1-ro, geumcheon-gu, seoul South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩300 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 21 April 2025. Payout ratio is a comfortable 23% and this is well supported by cash flows. Trailing yield: 1.0%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (3.0%). Reported Earnings • Nov 20
Third quarter 2024 earnings released: EPS: ₩609 (vs ₩813 in 3Q 2023) Third quarter 2024 results: EPS: ₩609 (down from ₩813 in 3Q 2023). Revenue: ₩38.1b (down 6.1% from 3Q 2023). Net income: ₩5.09b (down 25% from 3Q 2023). Profit margin: 13% (down from 17% in 3Q 2023). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 28% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Declared Dividend • Nov 11
Dividend of ₩300 announced Shareholders will receive a dividend of ₩300. Ex-date: 27th December 2024 Payment date: 21st April 2025 Dividend yield will be 1.0%, which is lower than the industry average of 2.8%. Sustainability & Growth Dividend is well covered by both earnings (18% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 16% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 20% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • May 28
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 12% to ₩37,100. The fair value is estimated to be ₩46,401, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has grown by 22%. Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: ₩28,355 (vs ₩42,272 in FY 2022) Full year 2023 results: EPS: ₩28,355 (down from ₩42,272 in FY 2022). Revenue: ₩168.4b (flat on FY 2022). Net income: ₩23.7b (down 33% from FY 2022). Profit margin: 14% (down from 21% in FY 2022). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 05
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩491,500, the stock trades at a trailing P/E ratio of 50.8x. Average trailing P/E is 7x in the Luxury industry in South Korea. Total returns to shareholders of 39% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩3,000 per share at 0.7% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 0.7%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (2.7%). New Risk • Sep 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 3.9% Last year net profit margin: 26% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩496,000, the stock trades at a trailing P/E ratio of 11.7x. Average trailing P/E is 7x in the Luxury industry in South Korea. Total returns to shareholders of 163% over the past three years. Valuation Update With 7 Day Price Move • Mar 03
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩559,000, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 8x in the Luxury industry in South Korea. Total returns to shareholders of 176% over the past three years. Valuation Update With 7 Day Price Move • Feb 17
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩472,500, the stock trades at a trailing P/E ratio of 14.7x. Average trailing P/E is 7x in the Luxury industry in South Korea. Total returns to shareholders of 115% over the past three years. Upcoming Dividend • Dec 21
Upcoming dividend of ₩1,500 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 24 April 2023. Payout ratio is a comfortable 4.7% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.1%). Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 28% share price gain to ₩543,000, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 11x in the Luxury industry in South Korea. Total returns to shareholders of 123% over the past three years. Valuation Update With 7 Day Price Move • Dec 23
Investor sentiment improved over the past week After last week's 28% share price gain to ₩543,000, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 11x in the Luxury industry in South Korea. Total returns to shareholders of 123% over the past three years. Upcoming Dividend • Dec 22
Upcoming dividend of ₩1,100 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 25 April 2022. Payout ratio is a comfortable 5.9% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 16% share price gain to ₩448,000, the stock trades at a trailing P/E ratio of 18.3x. Average trailing P/E is 15x in the Luxury industry in South Korea. Total returns to shareholders of 66% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment improved over the past week After last week's 21% share price gain to ₩380,500, the stock is trading at a trailing P/E ratio of 39.7x, up from the previous P/E ratio of 32.8x. This compares to an average P/E of 18x in the Luxury industry in South Korea. Total returns to shareholders over the past three years are 33%. Is New 90 Day High Low • Feb 23
New 90-day high: ₩352,000 The company is up 26% from its price of ₩278,500 on 25 November 2020. The South Korean market is up 16% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 17% over the same period. Is New 90 Day High Low • Jan 06
New 90-day high: ₩302,500 The company is up 34% from its price of ₩225,000 on 08 October 2020. The South Korean market is up 24% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 8.0% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩1,100 Per Share Will be paid on the 17th of April to those who are registered shareholders by the 29th of December. The trailing yield of 0.4% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (1.4%). Is New 90 Day High Low • Nov 27
New 90-day high: ₩292,500 The company is up 20% from its price of ₩243,500 on 28 August 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 9.0% over the same period. Is New 90 Day High Low • Nov 04
New 90-day high: ₩246,500 The company is up 15% from its price of ₩214,000 on 06 August 2020. The South Korean market is up 1.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Luxury industry, which is up 10.0% over the same period.