New Risk • Apr 30
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.0% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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 (13% average weekly change). New Risk • Mar 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 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Mar 18
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to ₩37,000, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 20x in the Semiconductor industry in South Korea. Total returns to shareholders of 250% over the past three years. Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩27,300, the stock trades at a trailing P/E ratio of 17.5x. Average trailing P/E is 22x in the Semiconductor industry in South Korea. Total returns to shareholders of 144% over the past three years. Announcement • Feb 12
Mecaro Co., Ltd., Annual General Meeting, Mar 26, 2026 Mecaro Co., Ltd., Annual General Meeting, Mar 26, 2026, at 09:01 Tokyo Standard Time. Location: seminar room, 89, sandan-ro 121beon-gil, gyeonggi-do, pyeongtaek South Korea Announcement • Feb 11
Mecaro Co., Ltd. announces Annual dividend Mecaro Co., Ltd. announced Annual dividend of KRW 350.0000 per share, ex-date on March 25, 2026 and record date on March 26, 2026. New Risk • Nov 21
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of South Korean stocks, typically moving 11% a week. This is considered a major risk. Share price volatility 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. It may also indicate 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₩22,000, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 20x in the Semiconductor industry in South Korea. Total returns to shareholders of 96% over the past three years. Valuation Update With 7 Day Price Move • Oct 30
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₩28,600, the stock trades at a trailing P/E ratio of 22.3x. Average trailing P/E is 23x in the Semiconductor industry in South Korea. Total returns to shareholders of 188% over the past three years. Valuation Update With 7 Day Price Move • Oct 16
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₩25,550, the stock trades at a trailing P/E ratio of 19.9x. Average trailing P/E is 25x in the Semiconductor industry in South Korea. Total returns to shareholders of 161% over the past three years. Valuation Update With 7 Day Price Move • Sep 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩20,450, the stock trades at a trailing P/E ratio of 15.9x. Average trailing P/E is 21x in the Semiconductor industry in South Korea. Total returns to shareholders of 115% over the past three years. New Risk • Sep 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 7.5% 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. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Sep 15
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to ₩14,800, the stock trades at a trailing P/E ratio of 11.5x. Average trailing P/E is 20x in the Semiconductor industry in South Korea. Total returns to shareholders of 46% over the past three years. New Risk • Jul 23
New minor risk - Dividend sustainability The company has an unstable dividend paying track record. The dividend has had an annual drop of over 20% in the past. Dividend yield: 1.1% This is considered a minor risk. If the company has cut or reduced its dividend in the past, it may be a sign that the underlying business is too cyclical to consistently maintain or grow the dividend over the long-term. It may also indicate the company prioritizes other outcomes instead of maintaining the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. 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. Market cap is less than US$100m (₩129.1b market cap, or US$93.7m). Valuation Update With 7 Day Price Move • Jul 07
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to ₩13,580, the stock trades at a trailing P/E ratio of 13.1x. Average trailing P/E is 15x in the Semiconductor industry in South Korea. Total returns to shareholders of 39% over the past three years. Valuation Update With 7 Day Price Move • Apr 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₩11,850, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 12x in the Semiconductor industry in South Korea. Total loss to shareholders of 4.6% over the past three years. Announcement • Feb 12
Mecaro Co., Ltd., Annual General Meeting, Mar 26, 2025 Mecaro Co., Ltd., Annual General Meeting, Mar 26, 2025, at 09:00 Tokyo Standard Time. Location: conference room, 89, sandan-ro 121beon-gil, gyeonggi-do, pyeongtaek South Korea Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: ₩172 (vs ₩62.83 loss in 3Q 2023) Third quarter 2024 results: EPS: ₩172 (up from ₩62.83 loss in 3Q 2023). Revenue: ₩16.1b (up 97% from 3Q 2023). Net income: ₩1.69b (up ₩2.32b from 3Q 2023). Profit margin: 11% (up from net loss in 3Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 79 percentage points per year, which is a significant difference in performance. Announcement • May 18
Mecaro Co., Ltd. to Report Q1, 2024 Results on May 16, 2024 Mecaro Co., Ltd. announced that they will report Q1, 2024 results on May 16, 2024 New Risk • Apr 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 9.7% 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 Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 58% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (9.7% average weekly change). Market cap is less than US$100m (₩108.8b market cap, or US$78.8m). Reported Earnings • Mar 26
Full year 2023 earnings released: ₩281 loss per share (vs ₩176 profit in FY 2022) Full year 2023 results: ₩281 loss per share (down from ₩176 profit in FY 2022). Revenue: ₩40.8b (down 25% from FY 2022). Net loss: ₩2.76b (down 260% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 29% 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. Upcoming Dividend • Dec 20
Upcoming dividend of ₩455 per share at 5.1% yield Eligible shareholders must have bought the stock before 27 December 2023. Payment date: 15 April 2024. The company is not currently making a profit and is not cash flow positive. Trailing yield: 5.1%. Within top quartile of South Korean dividend payers (3.5%). Higher than average of industry peers (1.0%). Upcoming Dividend • Dec 21
Upcoming dividend of ₩160 per share Eligible shareholders must have bought the stock before 28 December 2022. Payment date: 12 April 2023. Payout ratio is a comfortable 32% but the company is not cash flow positive. Trailing yield: 1.5%. Lower than top quartile of South Korean dividend payers (3.3%). Lower than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Aug 15
Investor sentiment improved over the past week After last week's 16% share price gain to ₩13,000, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 10x in the Semiconductor industry in South Korea. Total loss to shareholders of 1.5% over the past three years. Is New 90 Day High Low • Jan 20
New 90-day high: ₩16,550 The company is up 43% from its price of ₩11,600 on 22 October 2020. The South Korean market is up 28% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Semiconductor industry, which is up 44% over the same period. Is New 90 Day High Low • Jan 04
New 90-day high: ₩14,550 The company is up 16% from its price of ₩12,550 on 06 October 2020. The South Korean market is up 21% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 32% over the same period. Is New 90 Day High Low • Dec 18
New 90-day high: ₩14,300 The company is up 6.0% from its price of ₩13,450 on 18 September 2020. The South Korean market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Semiconductor industry, which is up 29% over the same period.