BrainContents "Pursuing New M&A Based on Ample Liquidity... Securing Growth Engines"

All Affiliates' Cash Equivalents Total 130 Billion Won... Attractive Assets Increasing Amid Crisis

[Asia Economy Reporter Hyungsoo Park] Brain Contents is focusing on the merger and acquisition (M&A) market to improve profitability and find new growth engines.

Brain Contents announced on the 27th that it holds cash assets worth approximately 130 billion KRW on a consolidated basis.

Brain Contents currently has 10 subsidiaries. When adding the cash assets of all affiliates, the total amounts to about 130 billion KRW. Cash assets, which were 62.9 billion KRW in 2017, have increased every year and surpassed 100 billion KRW for the first time last year.

A company official explained, "We have continuously expanded our business through corporate mergers and acquisitions over the past several years," adding, "We acquired Global Tax Free in 2014 and got listed on the KOSDAQ market."

He continued, "In 2018, we acquired the cosmetics company Swanicoco, and this year we acquired Medipron, a new drug development bio company," adding, "We are also actively pursuing new businesses by establishing new corporations such as the webtoon company Finger Story and the mask manufacturing company Micro Clean."

Micro Clean, a mask manufacturing company, is building a factory capable of producing up to 3 million masks per day.

Jongwook Moon, CEO of Brain Contents, said, "The Brain Contents Group, which has secured cash assets close to twice its market capitalization, will turn crises into opportunities for greater leaps," and added, "We plan to improve profitability through active M&A."

Meanwhile, Brain Contents recorded sales of 111 billion KRW last year, a 35% increase compared to the previous year, and achieved an operating profit of 9.1 billion KRW during the same period, showing significant performance improvement.

This content was produced with the assistance of AI translation services.