New Risk • May 18
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 15% 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 Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩46.0b market cap, or US$30.7m). Reported Earnings • Feb 14
Third quarter 2026 earnings released: ₩9.00 loss per share (vs ₩8.00 loss in 3Q 2025) Third quarter 2026 results: ₩9.00 loss per share (further deteriorated from ₩8.00 loss in 3Q 2025). Revenue: ₩5.48b (up 6.8% from 3Q 2025). Net loss: ₩1.83b (loss widened 47% from 3Q 2025). Over the last 3 years on average, earnings per share has increased by 6% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 16
First quarter 2026 earnings released: ₩2.00 loss per share (vs ₩70.00 loss in 1Q 2025) First quarter 2026 results: ₩2.00 loss per share (improved from ₩70.00 loss in 1Q 2025). Net loss: ₩389.8m (loss narrowed 96% from 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 25% 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. New Risk • Aug 04
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 39% 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 7.2% per year over the past 5 years. Shareholders have been substantially diluted in the past year (39% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩71.7b market cap, or US$51.9m). Announcement • Jul 10
Mason Capital Corporation announced that it expects to receive KRW 10 billion in funding from The LEADCORP, Inc. Mason Capital Corporation announced a private placement to issue 20,000,000 shares at an issue price of KRW 500 per share for gross proceeds of KRW 10,000,000,000 on July 9, 2025. The transaction will include participation from returning investor The LEADCORP, Inc. The transaction has been approved by shareholders, restricted to a hold period and is expected to close on July 17, 2025. Reported Earnings • Jun 19
Full year 2025 earnings released: ₩63.00 loss per share (vs ₩30.00 profit in FY 2024) Full year 2025 results: ₩63.00 loss per share (down from ₩30.00 profit in FY 2024). Revenue: ₩11.7b (down 31% from FY 2024). Net loss: ₩9.51b (down 307% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. New Risk • Jun 18
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 26% 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 Share price has been highly volatile over the past 3 months (18% average weekly change). Minor Risks Shareholders have been diluted in the past year (26% increase in shares outstanding). Market cap is less than US$100m (₩88.0b market cap, or US$64.0m). Announcement • Jun 11
Mason Capital Corporation, Annual General Meeting, Jun 26, 2025 Mason Capital Corporation, Annual General Meeting, Jun 26, 2025, at 09:01 Tokyo Standard Time. Location: conference room, 114, tongil-ro, jung-gu, seoul South Korea Announcement • Jun 03
Mason Capital Corporation announced that it has received KRW 20 billion in funding from The LEADCORP, Inc. On June 2, 2025, Mason Capital Corporation closed the transaction. Announcement • May 28
Mason Capital Corporation announced that it expects to receive KRW 20 billion in funding from The LEADCORP, Inc. Mason Capital Corporation announced a private placement to issue 40,000,000 Common Shares at a price of KRW 500 per share for aggregate proceeds of KRW 20,000,000,000 on May 26, 2025. The transaction is approved by the Board of Directors of the Company and is expected to close on June 2, 2025. The shares issued in the transaction will have a lockup period of 1 Year. The transaction will include participation from The LEADCORP Inc. Announcement • Apr 30
GGUMBI Inc. (KOSDAQ:A407400) agreed to acquire 38.41% stake in Gaia Corporation (XKON:A296520) from a group of shareholders for KRW 5.7 billion. GGUMBI Inc. (KOSDAQ:A407400) agreed to acquire 38.41% stake in Gaia Corporation (XKON:A296520) from a group of shareholders for KRW 5.7 billion on April 29, 2025. A cash consideration of KRW 5.74 billion will be paid by GGUMBI Inc. As part of consideration, KRW 5.74 billion is paid towards common equity of Gaia Corporation. The expected completion of the transaction is May 23, 2025. New Risk • Apr 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 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: Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (₩46.6b market cap, or US$32.9m). Reported Earnings • Feb 15
Third quarter 2025 earnings released: ₩8.00 loss per share (vs ₩14.00 profit in 3Q 2024) Third quarter 2025 results: ₩8.00 loss per share (down from ₩14.00 profit in 3Q 2024). Revenue: ₩5.13b (down 39% from 3Q 2024). Net loss: ₩1.25b (down 159% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 22% per year, which means it has not declined as severely as earnings. 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 (₩41.9b market cap, or US$29.4m). Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩429, the stock trades at a trailing P/E ratio of 14.2x. Average trailing P/E is 9x in the Diversified Financial industry in South Korea. Total loss to shareholders of 22% over the past three years. New Risk • Aug 12
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: Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Market cap is less than US$100m (₩68.0b market cap, or US$49.7m). Reported Earnings • Jun 20
Full year 2024 earnings released: EPS: ₩30.00 (vs ₩25.00 loss in FY 2023) Full year 2024 results: EPS: ₩30.00 (up from ₩25.00 loss in FY 2023). Revenue: ₩17.0b (up ₩14.3b from FY 2023). Net income: ₩4.61b (up ₩8.44b from FY 2023). Profit margin: 27% (up from net loss in FY 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year and the company’s share price has also fallen by 22% per year. Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: ₩14.00 (vs ₩10.00 loss in 3Q 2023) Third quarter 2024 results: EPS: ₩14.00 (up from ₩10.00 loss in 3Q 2023). Revenue: ₩8.41b (up ₩8.09b from 3Q 2023). Net income: ₩2.12b (up ₩3.64b from 3Q 2023). Profit margin: 25% (up from net loss in 3Q 2023). Over the last 3 years on average, earnings per share has fallen by 12% per year whereas the company’s share price has fallen by 7% per year. Reported Earnings • Aug 16
First quarter 2024 earnings released: ₩2.00 loss per share (vs ₩5.00 loss in 1Q 2023) First quarter 2024 results: ₩2.00 loss per share (improved from ₩5.00 loss in 1Q 2023). Net loss: ₩275.7m (loss narrowed 62% from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jun 17
Full year 2023 earnings released: ₩25.00 loss per share (vs ₩11.00 loss in FY 2022) Full year 2023 results: ₩25.00 loss per share (further deteriorated from ₩11.00 loss in FY 2022). Net loss: ₩3.83b (loss widened 131% from FY 2022). Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 17
Third quarter 2023 earnings released Third quarter 2023 results: Net loss: ₩1.53b (loss widened 269% from 3Q 2022). Announcement • Jan 06
Mason Capital Corporation (KOSDAQ : A021880) and others agreed to acquire Daol Credit Service Co.,Ltd from Daol Investment & Securities Co., Ltd. (KOSE:A030210) for KRW 13 billion. Mason Capital Corporation (KOSDAQ : A021880) and others agreed to acquire Daol Credit Service Co.,Ltd from Daol Investment & Securities Co., Ltd. (KOSE:A030210) for KRW 13 billion on January 4, 2023. Consideration will be paid in cash. Pursuant to transaction, Mason Capital will acquire 435,000 shares in Daol Credit Service, representing 50% stake. Daol Credit Service had total assets of KRW 67.5 billion at the end of the latest business year March 31, 2022. The transaction will be closed after approval of the change of the major shareholder of Daol Credit Service under the Credit Information Act and investment approval under the Financial Industry Structure Improvement Act. The expected acquisition date is undecided. Reported Earnings • Nov 16
Second quarter 2023 earnings released: ₩5.00 loss per share (vs ₩3.00 loss in 2Q 2022) Second quarter 2023 results: ₩5.00 loss per share (further deteriorated from ₩3.00 loss in 2Q 2022). Net loss: ₩705.6m (loss widened 44% from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has only increased by 8% per year, which means it is significantly lagging earnings growth. 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. 4 experienced directors. No highly experienced directors. 1 independent director (3 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. Reported Earnings • Jun 23
Full year 2022 earnings released: ₩11.00 loss per share (vs ₩21.00 profit in FY 2021) Full year 2022 results: ₩11.00 loss per share (down from ₩21.00 profit in FY 2021). Net loss: ₩1.66b (down 182% from profit in FY 2021). Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. 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. 4 experienced directors. No highly experienced directors. 1 independent director (3 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. Reported Earnings • Feb 20
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: ₩3.00 loss per share (down from ₩2.00 profit in 3Q 2021). Net loss: ₩413.9m (down 355% from profit in 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Oct 15
Investor sentiment improved over the past week After last week's 19% share price gain to ₩543, the stock trades at a trailing P/E ratio of 40.2x. Average trailing P/E is 16x in the Diversified Financial industry in Asia. Total returns to shareholders of 21% over the past three years. Reported Earnings • Jun 21
Full year 2021 earnings released: EPS ₩21.00 (vs ₩69.00 loss in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₩5.27b (up ₩4.90b from FY 2020). Net income: ₩2.04b (up ₩8.90b from FY 2020). Profit margin: 39% (up from net loss in FY 2020). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 53% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Announcement • Apr 24
Mason Capital Corporation announced that it has received KRW 26 billion in funding On April 22, 2021, Mason Capital Corporation (KOSDAQ:A021880) closed the transaction. Announcement • Mar 11
Mason Capital Corporation announced that it expects to receive KRW 26 billion in funding Mason Capital Corporation (KOSDAQ:A021880) announced a private placement 52,000,000 common shares at a price of KRW 500 per share for gross proceeds of KRW 26,000,000,000 on March 10, 2021. The transaction will include participation from Cactus Buyout 6 Private Equity Partnership. The transaction will take place through third party allotment. The securities are subject to a hold period of one year. The transaction was approved by the board of directors of the company. The transaction is expected to close on April 22, 2021. The share issued at par value. Is New 90 Day High Low • Mar 02
New 90-day high: ₩492 The company is up 8.0% from its price of ₩455 on 02 December 2020. The South Korean market is up 12% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Diversified Financial industry, which is up 9.0% over the same period. Announcement • Nov 08
Mason Capital Corporation announced that it expects to receive KRW 50 billion in funding from SC Lowy Financial (HK) Limited Mason Capital Corporation (KOSDAQ:A021880) announced that it will issue series 4 non-guaranteed private equity convertible bonds for gross proceeds of KRW 50,000,000,000 on November 6, 2020. The transaction will involve participation from SC Lowy Financial (HK) Limited for KRW 10,000,000,000. The bonds carry coupon of 6% and yield to maturity of 6%. The bonds will mature on November 13, 2025. The bonds will be issued at par. The bonds are fully convertible into 20,000,000 shares representing 16.78% stake at a fixed conversion price of KRW 500 each starting from November 13, 2021 till October 13, 2025. The subscription and payment date is November 13, 2020. The transaction has been approved by the board of directors of the company. The securities issued are subject to restriction period of one year from issuance. Is New 90 Day High Low • Nov 04
New 90-day high: ₩434 The company is up 49% from its price of ₩291 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 Diversified Financial industry, which is up 1.0% over the same period. Is New 90 Day High Low • Oct 08
New 90-day high: ₩351 The company is up 13% from its price of ₩312 on 10 July 2020. The South Korean market is up 11% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Diversified Financial industry, which is down 3.0% over the same period. Is New 90 Day High Low • Sep 18
New 90-day high: ₩342 The company is up 3.0% from its price of ₩331 on 19 June 2020. The South Korean market is up 14% over the last 90 days, indicating the company underperformed over that time. However, it outperformed the Diversified Financial industry, which is down 7.0% over the same period. 