[Click eStock] "Com2uS, Strong Q1 Earnings Expected"

Daishin Securities analyzed on the 10th that Com2uS is expected to exceed market forecasts for its first-quarter performance despite it being an off-season. The investment opinion 'Buy' and the target stock price of 60,000 KRW were maintained.

Daishin Securities expects Com2uS to record sales and operating profit of 171.2 billion KRW and 300 million KRW, respectively, in the first quarter. Sales are projected to increase by 9% year-on-year, but operating profit is expected to decrease by 74%. Lee Ji-eun, a researcher at Daishin Securities, said, "Both sales and operating profit are expected to surpass consensus estimates."

He estimated, "RPG game sales, including Summoners War: Sky Arena, will reach 74.4 billion KRW, and sports lineup sales will be 57.6 billion KRW," adding, "Despite the first quarter being an off-season for both Summoners War and baseball, sales appear to be maintaining stability compared to peak seasons."

He noted, "Since its release on the 26th of last month, Japan Pro Baseball Rising has maintained a ranking between 40th and 50th on the Japanese App Store," and added, "Daily sales are estimated to be around 150 million KRW." He evaluated, "Among NPB games, it currently holds the second-highest sales ranking in the Japanese baseball mobile game market, following Konami's 'Pro Yakyuu Spirits A,' which has the largest market share."

He stated, "Since its release, user reviews have been generally positive regarding graphics and gameplay, and it is understood that many users who have played the company's MLB lineup have migrated to this game." He added, "Some negative feedback points to a lack of player pools, but as with the operation of KBO and MLB lineups, updates adding OB players and overseas players are expected to be sufficiently implemented in the future."

For this year's sports lineup, sales are expected to reach 314.4 billion KRW. He explained, "Existing KBO and MLB lineups are also maintaining steady traffic and sales even during the off-season," and forecasted, "In 2025, sales growth is expected to continue without the release of new titles, similar to the previous year."

Daishin Securities expects Com2uS's performance to continue improving as the quarters progress. He said, "With the entry into the baseball peak season in the second half of the year, along with multiple new releases and improvements in subsidiary performance, quarterly profit growth is expected to continue."

He emphasized, "Although the stock price showed weakness due to concerns over the new baseball title's performance as sales rankings somewhat stagnated after its release, the current level is judged to be a fairly smooth start contrary to those concerns," and added, "As the professional baseball season fully progresses, it is expected that continuous updates to the mobile game will lead to an increase in sales rankings."

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