JYP Achieves Another Quarterly Record... 2Q Operating Profit 45.6 Billion KRW, Up 88% YoY
Operating Profit of 45.6 Billion KRW in Q2, Highest Quarterly Performance
Achievements from Girl Groups like Misamo, Nmix, and NiziU
Inclusion in MSCI Index Expected to Attract Additional Funds
JYP Ent. (JYP) announced on the 11th that its consolidated sales for the second quarter reached 151.7 billion KRW, with an operating profit of 45.6 billion KRW. In the same period last year, sales were 67.7 billion KRW and operating profit was 24.2 billion KRW. This represents increases of 124% and 88%, respectively. Both quarterly sales and operating profit hit record highs. This marks another record-breaking performance following the first quarter. True to its reputation as a company most dedicated to its core business, its operating profit margin reached 30%. Other major entertainment companies have operating profit margins around 10%.
Key achievements for JYP in the second quarter include TWICE’s Japanese member unit 'Misamo' topping the Oricon daily album chart with their mini 1st album ‘Masterpiece’. The 'youngest girl group' NMIXX achieved their first million-seller status (initial sales of 1.03 million copies) with their 3rd single album. The girl group NIJUU, composed entirely of Japanese members, reached number one on the Billboard Japan weekly album chart with their 2nd full-length album.
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Meanwhile, JYP is expected to see a rise in its stock price after being newly included in the MSCI Korea Index during the regular review announced by the global stock index provider MSCI in August. The MSCI index is a global stock index published by the American investment bank Morgan Stanley. Inclusion in the index typically attracts inflows from global passive (index-tracking) funds. In the past, companies like Kakao Pay and SK IE Technology saw their stock prices rise after being included in the MSCI Korea Index. JYP’s closing price on the 11th was 129,700 KRW, a 93% increase compared to the closing price of 67,200 KRW on January 2nd.
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