Report

Loen (016170.KS): 3Q17 hit by one-off costs

  • Margins contracted due to a temporary cost hike from its drama production arm  and an idol group
  • Recording and digital music content sales remain strong
  • AI-enabled speakers should boost demand for digital music content
Underlying
Kakao M

Kakao M Corp., formerly LOEN ENTERTAINMENT, INC., is a Korea-based company engaged in manufacturing and distributing album. Its main product is compact disc used for listening to music The Company operates its business through two segments: digital music segment, which provides digital music and online music under the brand of MelOn, and album segment which plans, manufactures and distributes albums.

Provider
Hyundai Motor Investment & Securities
Hyundai Motor Investment & Securities

Hyundai Motor Investment & Securities is the investment banking arm of the Hyundai Motor Group. The company offers stock brokerage and advisory services; derivative products brokerage and advisory services; wrap account portfolio management services; and VIP wealth management and tax planning, institutional equities, derivatives, and futures brokerage services, as well as sells investment and institutional products. It also provides equity offering, ABS, real estate PF and real estate PF securitization, offshore SOC, structured financing, asset securitization, real estate sales, IPO advisory, and private equity fund and fund management services; and CMA/RP portfolio management and fixed income based investments, as well as involved in the issuance, management, and brokerage of OTC derivatives. In addition, the company offers research services, including macro economic forecasts and stock market outlook, industry overviews and forecasts, fixed income strategies, corporate credit analysis, and valuation analysis. Further, it offers a range of retirement and pension services for individuals and corporate members; portfolios and asset allocation consulting and marketing services; proposing retirement pension plans; contract and payment management services; pension plan advisory and actuarial services; and system development and implementation services, as well as operates call centers for retirement pension services, etc. 

Analysts
Peter Yoo

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