Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to ₩2,645, the stock trades at a trailing P/E ratio of 6.3x. Average trailing P/E is 13x in the Personal Products industry in South Korea. Total loss to shareholders of 62% over the past three years. Board Change • May 18
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 8 experienced directors. No highly experienced directors. No independent directors (8 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: Lack of independent directors. Insufficient board refreshment. Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to ₩3,200, the stock trades at a trailing P/E ratio of 6.7x. Average trailing P/E is 19x in the Personal Products industry in South Korea. Total loss to shareholders of 52% over the past three years. Announcement • Mar 17
KODI CO., LTD, Annual General Meeting, Mar 31, 2026 KODI CO., LTD, Annual General Meeting, Mar 31, 2026, at 09:01 Tokyo Standard Time. Location: conference room, 338, gwanggyojungang-ro, suji-gu, gyeonggi-do, yongin South Korea Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₩838, the stock trades at a trailing P/E ratio of 17.6x. Average trailing P/E is 20x in the Personal Products industry in South Korea. Total loss to shareholders of 35% over the past three years. Valuation Update With 7 Day Price Move • Feb 11
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₩1,130, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 21x in the Personal Products industry in South Korea. Total loss to shareholders of 14% over the past three years. Valuation Update With 7 Day Price Move • Jul 24
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₩1,414, the stock trades at a trailing P/E ratio of 31.6x. Average forward P/E is 17x in the Personal Products industry in South Korea. Total loss to shareholders of 13% over the past three years. New Risk • Jul 08
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 36% 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 Risk Shareholders have been substantially diluted in the past year (36% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (10% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩87.7b market cap, or US$64.2m). Valuation Update With 7 Day Price Move • May 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₩1,538, the stock trades at a trailing P/E ratio of 28.4x. Average forward P/E is 14x in the Personal Products industry in South Korea. Total loss to shareholders of 4.2% over the past three years. New Risk • Apr 19
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 34% 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 Risk Shareholders have been substantially diluted in the past year (34% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (9.3% average weekly change). Large one-off items impacting financial results. Market cap is less than US$100m (₩56.1b market cap, or US$39.5m). Announcement • Mar 18
KODI CO., LTD, Annual General Meeting, Mar 31, 2025 KODI CO., LTD, Annual General Meeting, Mar 31, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 338, gwanggyojungang-ro, suji-gu, gyeonggi-do, yongin South Korea New Risk • Mar 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 8.8% 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 Risks Earnings have declined by 5.5% per year over the past 5 years. Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Market cap is less than US$100m (₩60.0b market cap, or US$41.3m). New Risk • Jan 16
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 37% 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 Earnings have declined by 5.5% per year over the past 5 years. Shareholders have been substantially diluted in the past year (37% increase in shares outstanding). Minor Risk Market cap is less than US$100m (₩47.7b market cap, or US$32.7m). New Risk • Jun 01
New major risk - Revenue and earnings growth Earnings have declined by 2.1% 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 Risks Share price has been highly volatile over the past 3 months (12% average weekly change). Earnings have declined by 2.1% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (44% increase in shares outstanding). Market cap is less than US$100m (₩80.7b market cap, or US$58.4m). Announcement • Jan 09
KODI CO., LTD announced that it expects to receive KRW 19.942549832 billion in funding from GP Club Co., Ltd. KODI CO., LTD announced a private placement to issue Series 18 Bearer type Unsecured Private Placement Rights Subordinate Bonds for the gross proceeds of KRW 11,500,000,000; 6,328,748 common shares at a price of KRW 1,334 for gross proceeds of KRW 8,442,549,832; for aggregate gross proceeds of KRW 19,942,549,832 on January 8, 2024. The transaction will include participation from new investor GP Club Co., Ltd. The bonds are 100% convertible into 7,467,532 shares at a fixed conversion price of KRW 1,540 from March 29, 2025 to February 28, 2026. The bonds will mature on March 29, 2026. The company will issue shares of par value of KRW 500 per share through third-party capital increase method. The shares will be locked up for a period of one year. Post closing, the total number of shares issued will increase from 31,643,740 shares to 37,972,488 shares. The transaction has been approved by the shareholders of the company and is expected to close on March 29, 2024. The securities are restricted to a hold period of 1 year. The bonds have 0% coupon rate and 0 maturity rate. New Risk • Jun 29
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 12% 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 Less than 1 year of cash runway based on free cash flow trend (-₩15b free cash flow). Minor Risks Shareholders have been diluted in the past year (12% increase in shares outstanding). Market cap is less than US$100m (₩45.9b market cap, or US$34.9m). Reported Earnings • May 10
First quarter 2023 earnings released: ₩28.00 loss per share (vs ₩63.93 loss in 1Q 2022) First quarter 2023 results: ₩28.00 loss per share (improved from ₩63.93 loss in 1Q 2022). Revenue: ₩18.0b (up 46% from 1Q 2022). Net loss: ₩793.4m (loss narrowed 56% from 1Q 2022). Board Change • Nov 16
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 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: Lack of independent directors. Insufficient board refreshment. Board Change • Apr 27
No independent directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 9 experienced directors. No highly experienced directors. No independent directors (9 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: Lack of independent directors. Insufficient board refreshment. Reported Earnings • May 19
First quarter 2021 earnings released: EPS ₩10.00 (vs ₩79.00 in 1Q 2020) The company reported a poor first quarter result with weaker earnings, revenues and profit margins. First quarter 2021 results: Revenue: ₩16.0b (down 1.6% from 1Q 2020). Net income: ₩256.2m (down 79% from 1Q 2020). Profit margin: 1.6% (down from 7.4% in 1Q 2020). Is New 90 Day High Low • Mar 04
New 90-day high: ₩2,065 The company is up 7.0% from its price of ₩1,925 on 04 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 Semiconductor industry, which is up 25% over the same period. Is New 90 Day High Low • Jan 11
New 90-day low: ₩1,735 The company is down 10.0% from its price of ₩1,930 on 13 October 2020. The South Korean market is up 29% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 43% over the same period. Reported Earnings • Nov 15
Third quarter 2020 earnings released: ₩69.00 loss per share The company reported a poor third quarter result with weaker earnings, revenues and control over expenses. Third quarter 2020 results: Revenue: ₩12.0b (down 2.4% from 3Q 2019). Net loss: ₩1.63b (down ₩1.74b from profit in 3Q 2019). Over the last 3 years on average, earnings per share has increased by 75% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 02
New 90-day high: ₩2,195 The company is up 24% from its price of ₩1,765 on 04 August 2020. The South Korean market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Semiconductor industry, which is down 5.0% over the same period.