China: Underweight, Not Under-Owned
In this report we look at China and its place within global emerging market equity funds. We find that despite a large underweight relative to the...
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Avex (7860): Shutting Down GEOCHANNEL
Analyst Thao Nguyen comment Avex announced on March 31st that it is shutting down GEO CHANNEL, which is a subscription video on demand (SVOD)...
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Netmarble Games IPO (Part 3): Valuation Sensitivity Analysis
Our base case valuation for the company is 170,000 won per share (using 2018 EV/EBITDA), which suggests implied market cap of 14,658 billion won...
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Netmarble Games IPO (Part 1) - Good: L2R; Bad: LineageM & China's Ban of New Mobile Games from Korea
GOOD NEWS: Netmarble Games' L2R mobile game is showing stunning growth.BAD NEWS: China recently banned all new mobile games from Korea. NCSoft's...
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Netmarble Games IPO Part 2 - Business Structure, Sales Breakdown & Valuation
Netmarble Enterprise as a business group is basically a mobile game development/publishing company. It also serves PC games, but PC games account...
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