New Risk • Jun 10
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: ₩152.0b (US$99.9m) 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 Large one-off items impacting financial results. Market cap is less than US$100m (₩152.0b market cap, or US$99.9m). New Risk • May 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 43% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩21,250, the stock trades at a trailing P/E ratio of 2.9x. Average trailing P/E is 10x in the Consumer Services industry in South Korea. Total returns to shareholders of 15% over the past three years. Announcement • Feb 27
Kukbo Design Co., Ltd., Annual General Meeting, Mar 26, 2026 Kukbo Design Co., Ltd., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 49, world cup-ro 10-gil, mapo-gu, seoul South Korea Upcoming Dividend • Dec 22
Upcoming dividend of ₩500 per share Eligible shareholders must have bought the stock before 29 December 2025. Payment date: 27 April 2026. Payout ratio is a comfortable 6.8% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (3.6%). Lower than average of industry peers (4.9%). New Risk • Nov 28
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 44% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Market cap is less than US$100m (₩136.5b market cap, or US$92.9m). Declared Dividend • Nov 08
Dividend of ₩500 announced Dividend of ₩500 is the same as last year. Ex-date: 29th December 2025 Payment date: 27th April 2026 Dividend yield will be 2.4%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is well covered by both earnings (9% earnings payout ratio) and cash flows (10% cash payout ratio). The dividend has increased by an average of 10% per year over the past 6 years and payments have been stable during that time. Earnings per share has grown by 12% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Nov 07
Kukbo Design Co., Ltd. announces Annual dividend, payable on April 27, 2026 Kukbo Design Co., Ltd. announced Annual dividend of KRW 500.0000 per share payable on April 27, 2026, ex-date on December 29, 2025 and record date on December 31, 2025. New Risk • Aug 30
New major risk - Financial data availability The company's latest financial reports are more than a year old. Last reported fiscal period ended September 2013. 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Jul 10
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩23,200, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 13x in the Consumer Services industry in South Korea. Total returns to shareholders of 59% over the past three years. Announcement • Feb 28
Kukbo Design Co., Ltd., Annual General Meeting, Mar 28, 2025 Kukbo Design Co., Ltd., Annual General Meeting, Mar 28, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 49, world cup-ro 10-gil, mapo-gu, seoul South Korea Upcoming Dividend • Dec 20
Upcoming dividend of ₩400 per share Eligible shareholders must have bought the stock before 27 December 2024. Payment date: 21 April 2025. Payout ratio is a comfortable 7.9% but the company is not cash flow positive. Trailing yield: 2.2%. Lower than top quartile of South Korean dividend payers (3.9%). Lower than average of industry peers (4.5%). New Risk • Dec 09
New major risk - Financial data availability The company has not reported any financial data. This is considered a major risk. With no or incomplete audited reported financial data, it is virtually impossible to assess the company's investment potential. Currently, the following risks have been identified for the company: Major Risk No financial data reported. Minor Risk Market cap is less than US$100m (₩110.8b market cap, or US$77.9m). Declared Dividend • Nov 27
Dividend of ₩400 announced Shareholders will receive a dividend of ₩400. Ex-date: 27th December 2024 Payment date: 21st April 2025 Dividend yield will be 2.4%, which is lower than the industry average of 3.9%. Sustainability & Growth Dividend is covered by earnings (8% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 7.4% per year over the past 5 years and payments have been stable during that time. Earnings per share has grown by 21% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. New Risk • Aug 26
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 24% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (24% accrual ratio). 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 (₩110.7b market cap, or US$83.6m). Reported Earnings • Mar 19
Full year 2023 earnings released: EPS: ₩4,084 (vs ₩3,036 in FY 2022) Full year 2023 results: EPS: ₩4,084 (up from ₩3,036 in FY 2022). Revenue: ₩401.3b (up 6.0% from FY 2022). Net income: ₩27.6b (up 32% from FY 2022). Profit margin: 6.9% (up from 5.5% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 20
Upcoming dividend of ₩400 per share at 2.8% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 22 April 2024. Payout ratio is a comfortable 9.7% and this is well supported by cash flows. Trailing yield: 2.8%. Lower than top quartile of South Korean dividend payers (3.5%). Lower than average of industry peers (3.5%). Upcoming Dividend • Dec 21
Upcoming dividend of ₩340 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 20 April 2023. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 2.1%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (3.4%). 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . 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. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Upcoming Dividend • Dec 22
Upcoming dividend of ₩320 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 02 May 2022. Payout ratio is a comfortable 11% and this is well supported by cash flows. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (2.4%). Lower than average of industry peers (2.3%). Valuation Update With 7 Day Price Move • Oct 26
Investor sentiment improved over the past week After last week's 35% share price gain to ₩27,800, the stock trades at a trailing P/E ratio of 10.7x. Average trailing P/E is 17x in the Consumer Services industry in South Korea. Total returns to shareholders of 158% over the past three years. Valuation Update With 7 Day Price Move • Apr 10
Investor sentiment improved over the past week After last week's 19% share price gain to ₩25,300, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 20x in the Consumer Services industry in South Korea. Total returns to shareholders of 31% over the past three years. Is New 90 Day High Low • Feb 15
New 90-day high: ₩22,500 The company is up 41% from its price of ₩16,000 on 17 November 2020. The South Korean market is up 21% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Services industry, which is up 3.0% over the same period. Valuation Update With 7 Day Price Move • Feb 02
Investor sentiment improved over the past week After last week's 21% share price gain to ₩21,300, the stock is trading at a trailing P/E ratio of 8x, up from the previous P/E ratio of 6.6x. This compares to an average P/E of 18x in the Consumer Services industry in South Korea. Total returns to shareholders over the past three years are 6.8%. Is New 90 Day High Low • Jan 28
New 90-day high: ₩19,350 The company is up 26% from its price of ₩15,300 on 30 October 2020. The South Korean market is up 32% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Consumer Services industry, which is up 4.0% over the same period. Upcoming Dividend • Dec 22
Upcoming Dividend of ₩300 Per Share Will be paid on the 24th of April to those who are registered shareholders by the 29th of December. The trailing yield of 1.7% is below the top quartile of South Korean dividend payers (2.6%), and is lower than industry peers (3.2%). Is New 90 Day High Low • Dec 21
New 90-day high: ₩18,950 The company is up 22% from its price of ₩15,500 on 22 September 2020. The South Korean market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Consumer Services industry, which is up 7.0% over the same period. Is New 90 Day High Low • Nov 30
New 90-day high: ₩18,400 The company is up 12% from its price of ₩16,450 on 01 September 2020. The South Korean market is also up 12% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Consumer Services industry, which is up 2.0% over the same period. Valuation Update With 7 Day Price Move • Nov 30
Market bids up stock over the past week After last week's 17% share price gain to ₩18,400, the stock is trading at a trailing P/E ratio of 5.8x, up from the previous P/E ratio of 5x. This compares to an average P/E of 18x in the Consumer Services industry in South Korea. Total returns to shareholders over the past three years are 1.6%.