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(Photo= Yonhap news) |
[Alpha Biz= Reporter Kim Sangjin] According to the Financial Supervisory Service on the 10th, six companies including Mirae Asset Securities (006800), CJ Logistics (000120), Studio Dragon (253450), CJ ENM (035760), E-Mart (139480), and Cafe24 (042000) saw the value of their Naver holdings decrease from 1.2564 trillion won at the end of last year to 995.6 billion won as of today's Naver stock price, resulting in a loss of 260.8 billion won since acquisition.
This decline reflects a 20.8% drop in Naver's stock price since the beginning of the year. After a slight recovery from the low 200,000 won range at the end of 2022, Naver's stock price had risen to the high 220,000 won range, but recent setbacks such as the Line Yahoo incident caused it to plummet to 159,600 won earlier this month. Although there was a rebound to 177,500 won today, the value remains significantly lower compared to previous highs.
Since 2017, Naver has exchanged stakes totaling 5 trillion won with Mirae Asset Securities to maximize business synergy, followed by a 2020 exchange with CJ affiliates CJ Logistics, Studio Dragon, and CJ ENM for another 500 billion won. In 2021, exchanges with E-Mart (150 billion won) and Cafe24 (136.2 billion won) further expanded its portfolio.
However, with Naver's stock price declining sharply since 2021, the value of stakes held by these companies also plummeted. Cafe24, with the highest average acquisition price of 438,700 won, recorded a loss of 811 billion won, a 59.6% decrease compared to acquisition. E-Mart also saw a 54.0% drop in stake value. The three CJ affiliates exchanged in 2020 experienced losses nearing 37%. Mirae Asset Securities, which exchanged stakes at an average acquisition price of 177,600 won, saw a reduction of 130.9 billion won from its book value at the end of last year.
Overall, the stake value of the six companies held by Naver has decreased by 540 billion won compared to acquisition values. This downturn is attributed to economic slowdowns since 2022 impacting distribution and content industries, affecting CJ affiliates and E-Mart significantly.
AlphaBIZ Kim SangJin(letyou@alphabiz.co.kr)
