[Click eStock] "Com2uS, Strong Q4 Performance Expected... Awaiting New Release Momentum This Year"

Korea Investment & Securities Issues 'Buy' Rating and 200,000 KRW Target Price... Closing Price on 13th at 166,300 KRW

[Asia Economy Reporter Kum Boryeong] Com2uS is expected to have recorded strong performance in the fourth quarter of last year thanks to 'Summoners War.' New game releases are anticipated to provide momentum this year.

According to Korea Investment & Securities on the 14th, Com2uS's estimated revenue for the fourth quarter of last year was 136.1 billion KRW, with an operating profit of 32.8 billion KRW. These figures represent increases of 12.2% and 2% respectively compared to the previous year. Compared to the previous quarter, revenue rose by 6.1% and operating profit by 24.5%.

Jung Hoyoon, a researcher at Korea Investment & Securities, analyzed, "The revenue from the flagship title Summoners War rebounded due to the peak season effect, driving improved performance compared to the previous quarter. Additionally, 'Skylanders,' released domestically and in Asian markets in October last year, contributed partially to the fourth quarter results."

New game momentum awaits this year. Com2uS plans to release a new mobile game, 'Summoners War: Hundred Years' War,' in March. Hundred Years' War is a strategy genre game developed using Com2uS's popular intellectual property (IP), Summoners War, which has maintained its popularity for six years since its launch.

Researcher Jung explained, "Since Summoners War originally had a strong strategic nature, it is highly likely to achieve good results even when released as a strategy genre game. We estimate the initial daily revenue of Hundred Years' War to be around 400 million KRW." Additionally, a golf game titled 'Buddy Crush' is scheduled for release in the first half of the year. In the second half, the release of 'Summoners War: Chronicle,' a massively multiplayer online role-playing game (MMORPG), is also anticipated.

Korea Investment & Securities has given Com2uS a 'Buy' rating with a target price of 200,000 KRW, raising the previous target from 165,000 KRW. The closing price on the 13th was 166,300 KRW. Researcher Jung stated, "Although the stock price surged significantly after the issuance of the Chinese license for Summoners War, further stock price increases are still possible as substantial profit improvements are expected with the new game releases this year."