Japan Tourism Corporation seeks KOSDAQ listing

[THE INVESTOR] Japan Tourism Corporation, which runs duty-free stores for foreign visitors in Japan, plans to list its shares on South Korea’s secondary bourse KOSDAQ next year, according to sources on July 6. It is the first time that a Japanese firm is seeking an initial public offering on the Seoul bourse after Japanese mortgage bank SBI Mortgage went public in 2012. Japan Tourism Corporation's duty-free store in TokyoHeadquartered in Fukuoka City, JTC is entirely owned by Korean native Ku Ch

July 6, 2016

Bioleaders to float shares on KOSDAQ on July 7

[THE INVESTOR] South Korean biopharmaceutical firm Bioleaders has passed the final review for transferring its stocks to the country’s tech-heavy KOSDAQ from KONEX, the bourse operator Korea Exchange said on July 5. BioleadersBioleaders will be listed on KOSDAQ on July 7 with the indicative share price set at 15,000 won (US$12.87). Established in 1999, the firm has a range of core technologies to develop next-generation immunity treatments. In 2015, Bioleaders logged 1.47 billion won in sales an

July 6, 2016

Samsung Securities says KOGAS ‘excessively undervalued’

[THE INVESTOR] Samsung Securities said Korea Gas Corporation ’s stocks are considerably undervalued, trading at around 0.33 times price-to-book value. “We expect that KOGAS’ profit from overseas resources development projects to bottom out from July while domestic sales of liquefied natural gas remain stable,” said Yang Ji-hye, an analyst at the securities firm. Samsung Securities maintained its buy rating and price target of 58,000 won (US$49.90) for KOGAS. The stock was up 1.26 percent to 40,3

July 6, 2016

[ANALYST REPORT] NCsoft: Momentum expected from new Lineage IP games

-2Q16 operating profit estimated at W72.7bn (+8.4% YoY), missing consensus by 6% ¨ -Momentum from release of new mobile games based on Lineage IP from July-Retain BUY for a target price of W320,0002Q16 operating profit estimated at W72.7bn (+8.4% YoY), missing consensus by 6%We expect NCsoft to report 2Q16 sales of W225.3bn (+3.6% YoY) and operating profit of W72.7bn (+8.4% YoY). Lineage sales are estimated at W85.6bn (+8.6% QoQ) backed by the dragon’s treasure chest event (May 25 - June 22). Sa

July 5, 2016

[ANALYST REPORT] Autos: Shipments up in June despite weak exports

Hyundai Motor (HMC) and Kia Motors saw their global shipments rise a respective 9.1% and 2% y-y in June as both firms offset weak exports with solid domestic sales and overseas plant shipments, while their global shipment volume fell a respective 0.9% and 4.6% y-y to 2.39m and 1.46m vehicles over January-June.● Domestic auto demand (excluding imports) grew 19.3% y-y in June—and 10.9% y-y to 812,000 vehicles in 1H—thanks to: 1) promotions with an excise tax cut expiring at month’s end; and 2) new

July 5, 2016