New Risk • Apr 03
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: -₩17b 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 (-₩17b free cash flow). Earnings have declined by 65% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩52.1b market cap, or US$34.6m). Aankondiging • Mar 17
RBW Inc., Annual General Meeting, Mar 31, 2026 RBW Inc., Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 7, janghan-ro 20-gil, dongdaemun-gu, seoul South Korea New Risk • Nov 29
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: -₩21b 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 Risk Earnings have declined by 70% per year over the past 5 years. Minor Risks Less than 1 year of cash runway based on current free cash flow (-₩21b). Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (₩65.4b market cap, or US$44.5m). New Risk • Nov 21
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 8.3% 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 Risk Earnings have declined by 74% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.3% average weekly change). Market cap is less than US$100m (₩62.9b market cap, or US$42.6m). Aankondiging • Sep 19
RBW Inc. announced that it has received KRW 2.839022802 billion in funding On September 17, 2025, RBW Inc. closed the transaction. Aankondiging • Sep 11
RBW Inc. announced that it expects to receive KRW 2.839022802 billion in funding RBW Inc. announced a private placement of the 2nd Unregistered Non-Interest Unsecured Private Exchange Bonds for gross proceeds of KRW 2,839,022,802 on September 9, 2025. The debt maturity date is September 17, 2028. The nominal interest rate of the Debentures is 0.0% per annum, and no separate interest is paid before maturity. The subscription date the payment date is September 17, 2025. The transaction was approved by the company's board. The bonds carry a hold period of one year. Aankondiging • Aug 22
RBW Inc. announced that it expects to receive KRW 7 billion in funding from Shinhan Securities Co. Ltd., Mirae Asset Securities Co., Ltd., Samsung Securities Co.,Ltd., KB Securities Co., Ltd., NH Investment & Securities Co., Ltd. RBW Inc. announces a private placement with KB Securities Co., Ltd, Mirae Asset Securities Co., Ltd and others to issue Unregistered Interest Unsecured Private Convertible Debentures Bonds for gross proceeds of KRW 7,000,000,000 on August 21, 2025. Expected closing date of the Notes is August 29, 2025. Interest rate of the Notes is 0%. Conversion price of the Notes is KRW 2,192. Maturity date of the Bonds is August 29, 2030. Conversion period starts on August 29, 2026 and ends on July 29, 2030. Reported Earnings • Mar 27
Full year 2024 earnings released: ₩302 loss per share (vs ₩124 loss in FY 2023) Full year 2024 results: ₩302 loss per share (further deteriorated from ₩124 loss in FY 2023). Revenue: ₩62.5b (down 32% from FY 2023). Net loss: ₩8.64b (loss widened 143% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Aankondiging • Mar 18
RBW Inc., Annual General Meeting, Mar 31, 2025 RBW Inc., Annual General Meeting, Mar 31, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 7, janghan-ro 20-gil, dongdaemun-gu, seoul South Korea New Risk • Jun 10
New major risk - Revenue and earnings growth Earnings have declined by 65% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 65% per year over the past 5 years. Minor Risk Market cap is less than US$100m (₩103.4b market cap, or US$74.9m). New Risk • Jan 24
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 8.2% 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: Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Market cap is less than US$100m (₩111.1b market cap, or US$83.0m). New Risk • Dec 11
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 8.6% 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: Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Market cap is less than US$100m (₩112.5b market cap, or US$85.3m). New Risk • Aug 09
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩130.7b (US$99.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Market cap is less than US$100m (₩130.7b market cap, or US$99.4m). New Risk • Jul 20
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 8.2% 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: Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.7% net profit margin). Shareholders have been diluted in the past year (20% increase in shares outstanding). Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improved over the past week After last week's 20% share price gain to ₩15,800, the stock trades at a trailing P/E ratio of 36.5x. Average trailing P/E is 16x in the Entertainment industry in South Korea. Total loss to shareholders of 34% over the past year. Valuation Update With 7 Day Price Move • Nov 29
Investor sentiment improved over the past week After last week's 16% share price gain to ₩15,050, the stock trades at a trailing P/E ratio of 30.2x. Average trailing P/E is 21x in the Entertainment industry in South Korea. Total loss to shareholders of 50% over the past year. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₩12,850, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 15x in the Entertainment industry in South Korea. Buying Opportunity • Oct 13
Now 27% undervalued after recent price drop Over the last 90 days, the stock is down 31%. The fair value is estimated to be ₩17,693, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last year. Earnings per share has declined by 22%. Buying Opportunity • Sep 26
Now 20% undervalued Over the last 90 days, the stock is up 9.3%. The fair value is estimated to be ₩18,461, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 40% over the last year. Earnings per share has declined by 22%. Reported Earnings • Sep 01
Second quarter 2022 earnings released: EPS: ₩62.00 (vs ₩170 in 2Q 2021) Second quarter 2022 results: EPS: ₩62.00 (down from ₩170 in 2Q 2021). Revenue: ₩16.4b (up 71% from 2Q 2021). Net income: ₩482.7m (down 60% from 2Q 2021). Profit margin: 3.0% (down from 13% in 2Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 22
Investor sentiment improved over the past week After last week's 18% share price gain to ₩22,000, the stock trades at a trailing P/E ratio of 26.1x. Average trailing P/E is 18x in the Entertainment industry in South Korea. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improved over the past week After last week's 32% share price gain to ₩17,200, the stock trades at a trailing P/E ratio of 20.4x. Average forward P/E is 18x in the Entertainment industry in South Korea. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 20% share price decline to ₩14,500, the stock trades at a trailing P/E ratio of 17.2x. Average forward P/E is 19x in the Entertainment industry in South Korea. Aankondiging • Jun 17
RBW, Inc. announced that it expects to receive KRW 26.499970135 billion in funding from Wysiwyg Studios Co., Ltd., Com2uS Corporation RBW, Inc. announced that it will issue 1,651,603 common shares at a price of KRW 16,045 per share for gross proceeds of KRW 26,499,970,135? on June 15, 2022. The transaction will include participation from new investors Wysiwyg Studios Co., Ltd. for 498,597 shares, Com2uS Corporation for 934,870 shares and individual investor Jin Woo Kim for 218,136 shares. The shares will be issued at a 10% discount on the base price. All securities issued in the transaction will be subject to a hold period of 1 year from the date of issuance. The transaction is expected to close on July 15, 2022. The transaction has been approved by the board of directors of the company. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improved over the past week After last week's 19% share price gain to ₩25,150, the stock trades at a trailing P/E ratio of 37.5x. Average forward P/E is 20x in the Entertainment industry in South Korea. Aankondiging • Nov 24
RBW, Inc. has completed an IPO in the amount of KRW 26.8142 billion. RBW, Inc. has completed an IPO in the amount of KRW 26.8142 billion.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 1,253,000
Price\Range: KRW 21400
Transaction Features: Sponsor Backed Offering