JSCO Holdings Reports Q3 Revenue of 20.1 Billion Won... "Will Establish Stable Profit Structure Through New Businesses"

[Asia Economy Reporter Jang Hyowon] JSC Holdings, a company listed on KOSDAQ, announced on the 15th through a disclosure that its sales for the third quarter of this year recorded 20.18 billion KRW, similar to the same period last year. Operating loss and net loss for the same period turned to deficits, amounting to 1.81 billion KRW and 3.93 billion KRW respectively. However, cumulative sales for the third quarter increased by 16.2% compared to the same period last year, reaching 68.5 billion KRW, marking the highest sales since the company's founding.

A representative of JSC Holdings stated, "The poor performance in the third quarter was due to the soaring raw material prices caused by the aftermath of the Ukraine war, which increased the cost of sales, as well as the domestic construction market downturn. Fortunately, raw material prices have started to decline, and sales from various new businesses are expected in the fourth quarter, so we anticipate performance improvements not only in the core steel business but also through new ventures."

JSC Holdings recently successfully completed the acquisition of the solar energy specialist company 'Willings,' entering the renewable energy sector. In addition, the company signed a business agreement with a secondary battery specialist company and is promoting entry into various secondary battery businesses using supercapacitors.

Furthermore, JSC Holdings is also engaged in distribution business. In August, it signed a nationwide exclusive distribution contract with domestic medical device distribution companies 'Raphamedics' for the 'Helicobacter pylori saliva test device (dBest H.Pylori Saliva Test),' entering the medical device distribution business.

Recently, the company established a fresh food distribution division and plans to cooperate with large overseas livestock processing companies and packers to procure the best quality meat, supplying directly to small and medium-sized domestic distributors such as butcher shops and restaurants. To this end, since September this year, it has been constructing a 1,700-pyeong (approximately 5,615 m²) cold storage warehouse on a 15,200 m² (4,600 pyeong) site located in Cheongbuk-eup, Pyeongtaek-si, Gyeonggi-do.

Han Sangmin, CEO of JSC Holdings, said, "Although the business environment is difficult due to war and economic recession, resulting in temporary poor performance, we have recorded the highest sales since our founding up to the third quarter of this year, and fortunately, external business conditions are improving, so we expect performance improvements in the fourth quarter."

He added, "We will secure a stable profit structure and achieve performance improvements through various new businesses. Along with this, we will continue our efforts to reduce costs independently."