Valuation Update With 7 Day Price Move • May 21
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩16,420, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 18x in the IT industry in South Korea. Total returns to shareholders of 22% over the past three years. New Risk • May 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 13% 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 16% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (13% average weekly change). Large one-off items impacting financial results. Upcoming Dividend • Mar 23
Upcoming dividend of ₩560 per share Eligible shareholders must have bought the stock before 30 March 2026. Payment date: 22 April 2026. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 2.6%. Lower than top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Mar 19
Investor sentiment improves as stock rises 44% After last week's 44% share price gain to ₩23,200, the stock trades at a trailing P/E ratio of 10.8x. Average trailing P/E is 17x in the IT industry in South Korea. Total returns to shareholders of 54% over the past three years. Reported Earnings • Mar 14
Full year 2025 earnings released: EPS: ₩2,156 (vs ₩2,575 in FY 2024) Full year 2025 results: EPS: ₩2,156 (down from ₩2,575 in FY 2024). Revenue: ₩687.2b (up 9.8% from FY 2024). Net income: ₩28.3b (down 16% from FY 2024). Profit margin: 4.1% (down from 5.4% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₩14,870, the stock trades at a trailing P/E ratio of 4.2x. Average trailing P/E is 19x in the IT industry in South Korea. Total loss to shareholders of 7.1% over the past three years. Aankondiging • Feb 24
SHINSEGAE Information & Communication Inc., Annual General Meeting, Mar 24, 2026 SHINSEGAE Information & Communication Inc., Annual General Meeting, Mar 24, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 2, namdaemunsijang 10-gil, jung-gu, seoul South Korea New Risk • Dec 23
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% 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 Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Shareholders have been diluted in the past year (17% increase in shares outstanding). Upcoming Dividend • Dec 22
Upcoming dividend of ₩430 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 22 April 2026. Payout ratio is a comfortable 12% and this is well supported by cash flows. Trailing yield: 2.4%. Lower than top quartile of South Korean dividend payers (3.6%). Higher than average of industry peers (1.4%). New Risk • Dec 16
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: Major Risk Earnings have declined by 15% per year over the past 5 years. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.2% average weekly change). Declared Dividend • Nov 08
Dividend of ₩430 announced Dividend of ₩430 is the same as last year. Ex-date: 29th December 2025 Payment date: 22nd April 2026 Dividend yield will be 2.7%, which is higher than the industry average of 1.1%. Sustainability & Growth Dividend is well covered by both earnings (15% earnings payout ratio) and cash flows (20% cash payout ratio). The dividend has increased by an average of 15% per year over the past 4 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to decline by 84% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.4% EPS decline seen over the last 5 years. Aankondiging • Nov 07
SHINSEGAE Information & Communication Inc. announces Annual dividend, payable on April 22, 2026 SHINSEGAE Information & Communication Inc. announced Annual dividend of KRW 430.0000 per share payable on April 22, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. Valuation Update With 7 Day Price Move • Oct 20
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩16,970, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 17x in the IT industry in South Korea. Total returns to shareholders of 51% over the past three years. Reported Earnings • Aug 20
Second quarter 2025 earnings released: EPS: ₩894 (vs ₩721 in 2Q 2024) Second quarter 2025 results: EPS: ₩894 (up from ₩721 in 2Q 2024). Revenue: ₩181.4b (up 25% from 2Q 2024). Net income: ₩11.7b (up 24% from 2Q 2024). Profit margin: 6.5% (in line with 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 3% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩17,090, the stock trades at a trailing P/E ratio of 6.6x. Average trailing P/E is 17x in the IT industry in South Korea. Total returns to shareholders of 39% over the past three years. New Risk • May 23
New major risk - Revenue and earnings growth Earnings have declined by 19% 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 19% per year over the past 5 years. Minor Risk Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. New Risk • May 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 8.9% 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (8.9% average weekly change). Aankondiging • May 09
Shinsegae Information & Communication Inc. Launches for Nintendo Switch Globally On, May 29 Shinsegae I&C Inc. announced that the digital version of mystery adventure game Staffer Case is officially launching for Nintendo Switch globally on, May 29. Prior to the official release, pre-orders will be available through Nintendo Switch eShop and My Nintendo Store until May 28. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩14,490, the stock trades at a trailing P/E ratio of 5.6x. Average trailing P/E is 14x in the IT industry in South Korea. Total loss to shareholders of 4.6% over the past three years. Reported Earnings • Mar 13
Full year 2024 earnings released: EPS: ₩2,575 (vs ₩2,316 in FY 2023) Full year 2024 results: EPS: ₩2,575 (up from ₩2,316 in FY 2023). Revenue: ₩625.7b (up 1.1% from FY 2023). Net income: ₩33.8b (up 11% from FY 2023). Profit margin: 5.4% (up from 4.9% in FY 2023). Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Aankondiging • Feb 22
SHINSEGAE Information & Communication Inc., Annual General Meeting, Mar 25, 2025 SHINSEGAE Information & Communication Inc., Annual General Meeting, Mar 25, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 2, namdaemunsijang 10-gil, jung-gu, seoul South Korea New Risk • Feb 04
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩142.4b (US$97.6m) 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: Major Risks Share price has been highly volatile over the past 3 months (14% average weekly change). Revenue has declined by 3.6% over the past year. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (₩142.4b market cap, or US$97.6m). Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩16,710, the stock trades at a trailing P/E ratio of 7.8x. Average trailing P/E is 16x in the IT industry in South Korea. Total loss to shareholders of 1.9% over the past three years. New Risk • Dec 23
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 12% 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 Revenue has declined by 3.6% over the past year. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Share price has been volatile over the past 3 months (12% average weekly change). Valuation Update With 7 Day Price Move • Dec 18
Investor sentiment improves as stock rises 28% After last week's 28% share price gain to ₩11,100, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 15x in the IT industry in South Korea. Total loss to shareholders of 37% over the past three years. New Risk • Jun 14
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩138.0b (US$99.8m) 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 Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (4.8% net profit margin). Market cap is less than US$100m (₩138.0b market cap, or US$99.8m). Aankondiging • Apr 03
SHINSEGAE Information & Communication Inc. (KOSE:A035510) acquired the remaining 20% stake in PLGRIM CO.,LTD. from Youngmin Kim and others for KRW 5 billion SHINSEGAE Information & Communication Inc. (KOSE:A035510) acquired the remaining 20% stake in PLGRIM CO.,LTD. from Youngmin Kim and others for KRW 5 billion on April 1, 2024.
SHINSEGAE Information & Communication Inc. (KOSE:A035510) completed the acquisition of remaining 20% stake in PLGRIM CO.,LTD. from Youngmin Kim and others on April 1, 2024. Valuation Update With 7 Day Price Move • Feb 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₩13,860, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 15x in the IT industry in South Korea. Total returns to shareholders of 9.3% over the past three years. Upcoming Dividend • Dec 20
Upcoming dividend of ₩500 per share at 4.0% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. Payout ratio is a comfortable 19% but the company is paying out more than the cash it is generating. Trailing yield: 4.0%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.2%). New Risk • Nov 24
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: 5.5% Last year net profit margin: 15% 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: Minor Risks Dividend is not well covered by cash flows (191% cash payout ratio). Profit margins are more than 30% lower than last year (5.5% net profit margin). Board Change • May 23
High number of new and inexperienced directors There are 5 new directors who have joined the board in the last 3 years. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. Independent Outside Director Dong-Soo Han is the most experienced director on the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Board Change • Apr 12
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Outside Director Suk-Jae Lee was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Dec 21
Upcoming dividend of ₩250 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 10 April 2023. Trailing yield: 1.8%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (2.0%). Price Target Changed • Nov 16
Price target decreased to ₩18,000 Down from ₩25,000, the current price target is provided by 1 analyst. New target price is 37% above last closing price of ₩13,150. Stock is down 28% over the past year. The company posted earnings per share of ₩858 last year. Price Target Changed • Sep 28
Price target decreased to ₩18,000 Down from ₩25,000, the current price target is provided by 1 analyst. New target price is 46% above last closing price of ₩12,300. Stock is down 46% over the past year. The company posted earnings per share of ₩858 last year. Upcoming Dividend • Dec 22
Inaugural dividend of ₩2,500 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 11 April 2022. The company is not currently making a profit and is not cash flow positive. This is the first dividend for SHINSEGAE Information & Communication since going public. The average dividend yield among industry peers is 1.4%. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improved over the past week After last week's 15% share price gain to ₩256,500, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 22x in the IT industry in South Korea. Total returns to shareholders of 95% over the past three years. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 18% share price gain to ₩222,500, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 24x in the IT industry in South Korea. Total returns to shareholders of 103% over the past three years. Aankondiging • Feb 27
SHINSEGAE Information & Communication Co., LTD, Annual General Meeting, Mar 25, 2021 SHINSEGAE Information & Communication Co., LTD, Annual General Meeting, Mar 25, 2021, at 09:00 Korea Standard Time. Is New 90 Day High Low • Feb 15
New 90-day high: ₩143,000 The company is up 14% from its price of ₩125,500 on 17 November 2020. The South Korean market is up 21% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the IT industry, which is up 10.0% over the same period. Is New 90 Day High Low • Jan 25
New 90-day high: ₩140,500 The company is up 17% from its price of ₩120,000 on 27 October 2020. The South Korean market is up 33% over the last 90 days, indicating the company underperformed over that time. It also underperformed the IT industry, which is up 19% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩2,000 Per Share Will be paid on the 6th of April to those who are registered shareholders by the 29th of December. The company last paid an ordinary dividend in March 2010. The average dividend yield among industry peers is 1.3%.