Toomics Reports Cumulative Sales of 44.4 Billion KRW in Q3

Suseong Webtoon announced on the 5th that its subsidiary Toomics recorded cumulative sales of 44.4 billion KRW and operating profit of 8.5 billion KRW in the third quarter of this year. Monthly operating profit has been steadily increasing since the second half of this year, surpassing 1.2 billion KRW per month.

Toomics, which has 60 million global members, has seen sales increase every quarter. This reflects the global demand for K-webtoons. Sales in the first quarter of this year were 13.8 billion KRW, 15 billion KRW in the second quarter, and 15.6 billion KRW in the third quarter. Winter is the peak season for digital content such as webtoons and games, and if the current trend continues, the company expects this year's performance to be the largest since its establishment.

Suseong Webtoon plans to strengthen its management control over Toomics. It has set a plan to increase its shareholding from the current 40% range to over 70%. By consolidating the performance on a connected basis, it expects to achieve sales of 100 billion KRW and operating profit of 20 billion KRW.

The par value per share will be changed from 500 KRW to 5,000 KRW. After the 10-to-1 par value consolidation is completed, the total number of issued shares will decrease.

Suseong Webtoon has subsidiaries in webtoons and semiconductor equipment. With the growth of subsidiaries this year, it expects gains from share valuation and an initial public offering (IPO). Future Hitech, which is promoting the supply of HBM inspection equipment as a first-tier vendor to SK Hynix, is expected to see significant performance improvements this year and next, according to a company official.