[Click eStock] "JPY Enter, Q3 Earnings Expectations... Target Price Raised"
Kiwoom Securities Issues 'Buy' Investment Rating and Sets Target Price at 43,500 Won... Closing Price on 18th at 34,500 Won
[Asia Economy Reporter Kum Boryeong] An analysis has emerged that JYP Entertainment's (JYP Ent.) third-quarter performance is expected to be strong.
On the 19th, Kiwoom Securities gave JYP Ent. a 'Buy' investment rating and set a target price of 43,500 KRW. The target price was revised upward from the previous 41,000 KRW. The closing price on the 18th was 34,500 KRW.
JYP Ent.'s second-quarter results showed an operating profit of 9.1 billion KRW and sales of 34.1 billion KRW, down 3.9% and 12.8% respectively compared to the previous year. Namsoo Lee, a researcher at Kiwoom Securities, explained, "They achieved results exceeding consensus expectations. The record sales of albums by major artists including TWICE were broken, indicating success in enhancing the hit ratio of simultaneous content through the establishment of a label system. In particular, global digital content sales in Japan and the Americas increased by 46% year-on-year, driving overall music growth."
Expectations for the third quarter are high. For TWICE, who broke their own album records in the second quarter, sales from Japanese singles and the 'Beyond Live' performance will be reflected. Additionally, comebacks from major artists are planned, which is expected to offset revenue declines due to the absence of concerts.
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Lee said, "In Japan, NiziU's planned MD (merchandise) sales are taking place, and ahead of their official debut in November, they are expected to succeed in monetization from the early stages of debut. Park Jin-young's entry into the Japanese market is also expected to occur simultaneously. Strong album sales domestically, overseas local idols, global music, fan clubs, and MD expansion businesses will present a more solid revenue model as glocalization expands."
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