 |
Jinyoung Park (photo = JYP entertainment) |
[Alpha Biz=(Chicago) Reporter Paul Lee] Hana Securities lowered its target price of JYP Ent by 25% on the 20th, saying its fourth-quarter earnings fell short of market expectations as its sales in Japan were not reflected.
Hana Securities said JYP Ent's operating profit in the fourth quarter of last year was KRW 37.8 billion, below the consensus of KRW 49.1 billion.
"This is a reflection of a total of 29 Japanese tour sales (about 750,000 people), including 4 TWICE, 8 Kids and 17 Niju," Hana Securities explained.
"If they were all reflected, it would have exceeded the consensus," Hana Securities said. "Japanese tour sales last year reflected only 13.2 billion won per year, even though the number of visitors exceeded 1 million."
Hana Securities lowered its target stock price from 160,000 won to 120,000 won, saying, "It is quite regrettable that it will be unclear whether Japanese sales will be reflected in the first quarter."
AlphaBIZ Paul Lee(hoondork1977@alphabiz.co.kr)
