AI 銘柄分析 · 10年

Samsung Electro-Mechanics Co., Ltd. / 三星電機

009150 · KRW · 分析基準日 2026-11-06

サムスン電機：電子部品と先端基板の10年評価

10年期待年率4.66%

資本コスト11.50%

直近終値870,000.00 KRW2026-11-06

AIによるシナリオ分析です。基準日以降の出来事、株価や為替の変化は個別に確認が必要です。各数値は元の分析の単位と前提に従います。

分析の要約

MLCC、半導体パッケージ基板、カメラ事業を5シナリオで評価。Q3はレビュー前の速報、基準日の株数と親会社資本・合弁事業への外部出資は代理値または仮定です。韓国でETFが負担する配当源泉税は未反映です。

要約の補足

overview_ja

2026Q3のMLCCとFCBGAのAI需要で売上と利益率は上昇。大型増産決議とSamsung Electronics向け集中、スマホ循環、価格競争・顧客資金条件が重要。2036終価は2037持続FCFFとRONIC・再投資・WACCにより評価。

key_risks_ja

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1: 6.78兆KRWのFCBGA計画は成長の条件であると同時にFCF悪化リスク
2: AI向け高容量MLCC・FCBGAのASPと数量は会社非開示でマージンは推計
3: Samsung Electronicsグループへの2026上半期売上が約26%（DART要直接再確認）
4: 2026Q3暫定連結純資産で親会社分未開示、NCIは半期DART代理値を延長
5: 今後の配当・自己株取得・SBC・FX・日付は全て予測

ten_year_range

calendar 2026-11-06 through 2036-11-06; dated flows /365.25 actual days, exactly 55 forecast periods

tax_policy

gross Korean local cash distributions before investor tax; Korean ETF effective withholding, Japan or US investor tax not modeled

future_corporate_actions

none treated as resolved beyond 2026-11-06; all modeled future dividend, buyback and grants hypothetical

結論の補足

company: Samsung Electro-Mechanics
valuation_date: 2026-11-06
price_krw: 870000
market_value_of_opening_ordinary_common_cohort_oku: 632435.1552
neutral_irr: 0.012419123749
probability_weighted_scenario_IRR: -0.028544305831
IRR_from_probability_weighted_cashflow_and_terminal: 0.046588026438
mean_discounted_old_common_fair_value_krw: 526901.621
recommendation_ja: AI関連需要は追い風だが大型CAPEXとMLCC・基板の周期を織り込む。市場PER回帰を避け、5ケースの事業FCFFで10年後価値を評価。
状態: scenario_assumptions_not_guaranteed_return

事業

model: manufactures passive component MLCC, high-density FCBGA semiconductor packages, optical camera modules
moat_ja: MLCC小型大容量・耐熱とADAS品質、FCBGA微細配線・大面積歩留りに技術優位。新工場は顧客長期契約で支えるが数量保証・支援入金額は未検証。
customers: Samsung Electronics and consolidated subsidiaries approximately 26% of H1 reported sales (secondary transcription); others unnamed global Big Tech and automotive customers; concentration risks.
price_volume_mix: segment sales known but unit ASP, units, and operating profit by segment not disclosed: forecast growth and margins are analyst judgment, not official disclosures.
sbc_rule: P&L operating profit and parent profit already net of SBC; CFO addback and shares dilution explicitly recorded; 2026 Q4 accrual vests 2027 rather than disappearing, with 2037 perpetual awards share-neutralized through cash market repurchase

競争力・事業の質

financial_2026q3_status

preliminary company issued 2026-10-28 pre-external review

reported_last_2026_q3

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currency: KRW
単位: oku KRW
sales: 37633
operating_profit: 6910
pbt: 6097
tax_expense: 1247
consolidated_net_profit: 4850
parent_profit: 4687
nci_profit_derived: 163
assets: 170612
debt: 34263
cash: 41137
equity_total: 104988
quarter_capex_intangible_tangible: 8627

reported_2026_h1_derived_secondary

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親会社持分（億）: 102305.79
非支配持分資本（億）: 2985.63
consolidated_total_oku: 105291.42
出典: secondary reproducing 2026-08-14 DART report; direct DART unavailable

2026q3_nci_and_parent_equity_proxy

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非支配持分（億）: 3148.63
parent_oku: 101839.37
q3_oci_and_other_to_reconcile_oku: -5153.42
方法: Q2 NCI+Q3 reported consolidated less parent profit; all Q3 OCI and other equity movement forced to parent as residual; inherently uncertain

q3_earnings_after_sbc

reported K-IFRS parent result; no additional SBC deduction

nine_months_exact_through_q3_2026

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sales_oku: 104295.96
営業利益（億）: 14118.99
pbt_oku: 13593.93
income_tax_oku_derived: 2933.7
consolidated_profit_oku: 10660.23
parent_profit_oku: 10335.3
状態: KRX fair-disclosure cumulative numbers from 2026-10-28 primary filing, reproduced by filings archive; Q1-Q3 component sums are rounded IR deck numbers

2026Q3_parent_return_on_equity_LTM_proxy

未確認

業界と環境

cycles

smartphone handset seasonality and inventory cycles; AI capex availability, FC-BGA yield and MLCC capacity; autos and EV ADAS slower smoothing demand

technologies

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1: AI server MLCC
2: advanced FCBGA substrates
3: automotive MLCC
4: camera modules
5: Glasssem glass cores

competitors

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1: Murata
2: Taiyo Yuden
3: Yageo
4: Ibiden
5: Unimicron
6: Nan Ya PCB
7: LG Innotek

risks

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1: price pressure on mature MLCC and handset cameras
2: geopolitical customer and supply-chain concentration
3: capex and inventory overbuild
4: overestimation of Big Tech funding and 2032 contracted volume

non_disclosed

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1: division EBIT/margin
2: MLCC AI revenue and product ASP/volume
3: FCBGA long term contract prices/units
4: specific Big Tech revenue concentration
5: SBC award level in 2026 after accounting cutoffs

財務・資本配分

historical_shares_as_of_proxy

2025-12-31 issuer formal annual report, assumed unchanged to 2026-11-06 pending definitive H1 share check

ordinary_outstanding_basis

72693696

preferred_outstanding

2853554

preferred_rights

nonvoting preferred, 2025 annual cash DPS KRW50 above ordinary; modeled equally residual participation and preference annuity, no terminal listed preferred market price regression

dividend_history

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fiscal_year: 2025
common_krw: 2350
preferred_krw: 2400
ex_date: 2025-12-29
pay_date: 2026-04-17
状態: paid_before_cutoff_excluded

future_dividend_policy

company states ~20% or more payout subject to capex and cashflow; scenario ratio forecast, never newly resolved on as_of

authorized_future_repurchases_as_of_date

未確認

share_treasury_policy

old cohort only ordinary outstanding; hypothetical buybacks are held in treasury, no future cancellations; no company cash represented by SBC dilution; no secondary trust purchases modeled

commitment_FCBGA_capex_oku

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sejong

42700

vietnam

25100

total

67800

allocation_forecast

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2027

sejong: 3500
vietnam: 1000

2028

sejong: 24000
vietnam: 7000

2029

sejong: 15200
vietnam: 10000

2030

sejong: 0
vietnam: 6000

2031

sejong: 0
vietnam: 1100

customer_cash_support_disclosed_without_amount

zero contract advances included in core case, avoid free-money double count

jv_2026_11_05

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total_subscription_oku: 3191
issuer_parent_cash_oku: 2391
issuer_parent_in_kind_oku: 800
ownership_pct: 0.662
partner_subscription_oku_inferred: 1630
consolidation_assumption: partner 1630 oku recognized as external NCI equity and consolidated cash before cutoff; parent 2391 internal cash transfer and 800 in-kind have zero group cash effect; if non-cash or consolidation delayed this bridge changes
put_call_options: deadlock call/put after 5 years; fair values unquantified not booked in projection

equity_accounting

parent book equity=P0+parent NI after SBC+SBC reserve credit-common/pref declared dividend-common buyback+OCI; NCI independently retained

評価の前提と確認

current_common_price_krw

870000

year_2025_parent_profit_oku

7061

TTM_parent_profit_2025Q4_to_2026Q3_oku

12564

TTM_ordinary_plus_preferred_EPS_KRW

16630.652

spot_TTM_PE_indicator_only_not_terminal_used

52.313

terminal_formula

EV=2037 normalized FCFF_after_cash_stock_neutralization/(WACC-g); operating_NOCF after reported SBC plus SBC addback minus market share neutralization and growth reinvestment; parent equity=(EV -gross_debt + cash_above_min_required)*(1-NCI_value_share); allocate between ordinary and nonvoting preferred; old cohort proportion of ordinary equity

not_used

1: current market P/E terminal target
2: analyst price target
3: future stock quote to determine terminal market cap

scenario_fair_value_krw_per_initial_share

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very_bearish: 8223.095
bearish: 85680.465
neutral: 353806.898
bullish: 867906.683
very_bullish: 1938391.23

disputed_desktop_894000_quote_sensitivity_only

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alternative_price_krw

894000

price_not_used_in_basis

はい

alternative_initial_ordinary_common_market_value_oku

649881.64224

case_IRR_at_alternative_buy_price_no_operating_changes

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very_bearish: -0.492131540799
bearish: -0.12274907982
neutral: 0.009520902178
bullish: 0.097514810246
very_bullish: 0.190887637349

weighted_mean_of_alternative_price_case_IRRs

-0.031362883389

説明

A minority of the official company desktop historical table snapshots rendered 894000 versus 870000 in company mobile/Japanese and multiple other market data feeds; alternate price is a sensitivity only, not an alternative fact.

資本コストの前提

資本コスト

11.50%

k_meaning

neutral equity discount rate for old shareholder dated-CF present value, separately from enterprise WACC

neutral_wacc

0.091

scenario_wacc_varies

はい

coc_k_scenario_specific

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very_bearish: 0.15
bearish: 0.132
neutral: 0.115
bullish: 0.101
very_bullish: 0.096

normalization

nominal KRW KR bond-equity funding capital cost; modeling judgment not company disclosed

事業別データ

事業別の内訳と、収録されている年度別データを確認できます。

事業別データを開く →

10年のシナリオ

シナリオごとの確率、期間内の株主還元・追加負担、終価です。金額は億KRW。株主の範囲や受取時点は各分析の前提を確認してください。

シナリオ	確率	株主還元・追加負担	終価
最悪	10.0%	9,086.71	0.00
弱気	20.0%	28,329.19	159,478.08
中立	40.0%	81,176.98	629,983.73
強気	20.0%	166,414.00	1,404,444.52
最良	10.0%	329,276.79	3,057,026.36

最悪（確率 10.0%）

事業別の売上と利益率、設備投資、普通株と優先株の配分、株式報酬を仮定して、旧普通株主の配当・買戻しと残存価値を試算。

このシナリオの数値・キャッシュフローを開く →

弱気（確率 20.0%）

事業別の売上と利益率、設備投資、普通株と優先株の配分、株式報酬を仮定して、旧普通株主の配当・買戻しと残存価値を試算。

このシナリオの数値・キャッシュフローを開く →

中立（確率 40.0%）

事業別の売上と利益率、設備投資、普通株と優先株の配分、株式報酬を仮定して、旧普通株主の配当・買戻しと残存価値を試算。

日付別キャッシュフロー

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想定日: 2026-12-29
year: 0.1451060917
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2026
common_dps_krw: 4800
preferred_dps_krw: 4850
record_date: 2026-12-31
scheduled_payment_date_assumed: 2027-04-19
preferred_cash_not_attributable_to_old_common_oku: 138.397369
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2027-04-19
year: 0.4490075291
金額: 3489.297408
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2026
dps_krw: 4800
record_date: 2026-12-31
declaration_date_assumed: 2027-03-15
record_common_shares: 72693696
old_cohort_record_shares: 72693696
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2026-12-29

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想定日: 2027-06-30
year: 0.6461327858
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 66725
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 931428.46

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想定日: 2027-12-29
year: 1.144421629
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2027
common_dps_krw: 6900
preferred_dps_krw: 6950
record_date: 2027-12-31
scheduled_payment_date_assumed: 2028-04-17
preferred_cash_not_attributable_to_old_common_oku: 198.322003
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2028-04-17
year: 1.4455852156
金額: 5015.865024
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2027
dps_krw: 6900
record_date: 2027-12-31
declaration_date_assumed: 2028-03-15
record_common_shares: 72760421
old_cohort_record_shares: 72693696
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2027-12-29

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想定日: 2028-06-30
year: 1.6481861739
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 58420
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 973342.74

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想定日: 2028-12-29
year: 2.1464750171
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2028
common_dps_krw: 7800
preferred_dps_krw: 7850
record_date: 2028-12-31
scheduled_payment_date_assumed: 2029-04-17
preferred_cash_not_attributable_to_old_common_oku: 224.003989
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2029-04-17
year: 2.4449007529
金額: 5670.108288
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2028
dps_krw: 7800
record_date: 2028-12-31
declaration_date_assumed: 2029-03-15
record_common_shares: 72818841
old_cohort_record_shares: 72693696
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2028-12-29

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想定日: 2029-06-30
year: 2.6475017112
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 61936
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1017143.16

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想定日: 2029-10-15
year: 2.9404517454
金額: 1333.348958
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1336.7804
issuer_shares_bought: 131425
old_cohort_shares_tendered: 131087.63915621
ownership_fraction_at_tender: 0.997433054261
repurchase_price_krw: 1017143.162

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想定日: 2029-12-28
year: 3.1430527036
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2029
common_dps_krw: 8500
preferred_dps_krw: 8550
record_date: 2029-12-31
scheduled_payment_date_assumed: 2030-04-17
preferred_cash_not_attributable_to_old_common_oku: 243.978867
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2030-04-17
year: 3.4442162902
金額: 6167.821711
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2029
dps_krw: 8500
record_date: 2029-12-31
declaration_date_assumed: 2030-03-15
record_common_shares: 72749352
old_cohort_record_shares: 72562608.360844
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2029-12-28

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想定日: 2030-06-30
year: 3.6468172485
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 64440
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1062914.6

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想定日: 2030-10-15
year: 3.9397672827
金額: 1452.038204
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1457.064598
issuer_shares_bought: 137082
old_cohort_shares_tendered: 136609.11217646
ownership_fraction_at_tender: 0.996550328828
repurchase_price_krw: 1062914.604

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想定日: 2030-12-27
year: 4.1396303901
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2030
common_dps_krw: 9250
preferred_dps_krw: 9300
record_date: 2030-12-31
scheduled_payment_date_assumed: 2031-04-17
preferred_cash_not_attributable_to_old_common_oku: 265.380522
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2031-04-17
year: 4.4435318275
金額: 6699.404931
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2030
dps_krw: 9250
record_date: 2030-12-31
declaration_date_assumed: 2031-03-17
record_common_shares: 72676710
old_cohort_record_shares: 72425999.248667
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2030-12-27

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想定日: 2031-06-30
year: 4.6461327858
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 66031
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1110745.76

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想定日: 2031-10-15
year: 4.93908282
金額: 1562.815686
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1569.650373
issuer_shares_bought: 141315
old_cohort_shares_tendered: 140699.6759144
ownership_fraction_at_tender: 0.995645727024
repurchase_price_krw: 1110745.761

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想定日: 2031-12-29
year: 5.144421629
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2031
common_dps_krw: 10000
preferred_dps_krw: 10050
record_date: 2031-12-31
scheduled_payment_date_assumed: 2032-04-19
preferred_cash_not_attributable_to_old_common_oku: 286.782177
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2032-04-19
year: 5.4510609172
金額: 7228.529957
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2031
dps_krw: 10000
record_date: 2031-12-31
declaration_date_assumed: 2032-03-15
record_common_shares: 72601426
old_cohort_record_shares: 72285299.572753
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2031-12-29

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想定日: 2032-06-30
year: 5.6481861739
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 67030
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1160729.32

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想定日: 2032-10-15
year: 5.9411362081
金額: 1671.851006
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1680.712842
issuer_shares_bought: 144798
old_cohort_shares_tendered: 144034.52864797
ownership_fraction_at_tender: 0.994727334963
repurchase_price_krw: 1160729.321

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想定日: 2032-12-29
year: 6.1464750171
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2032
common_dps_krw: 10700
preferred_dps_krw: 10750
record_date: 2032-12-31
scheduled_payment_date_assumed: 2033-04-18
preferred_cash_not_attributable_to_old_common_oku: 306.757055
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2033-04-18
year: 6.4476386037
金額: 7719.11536
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2032
dps_krw: 10700
record_date: 2032-12-31
declaration_date_assumed: 2033-03-15
record_common_shares: 72523658
old_cohort_record_shares: 72141265.044105
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2032-12-29

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想定日: 2033-06-30
year: 6.6475017112
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 67710
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1212962.14

内容を開く

想定日: 2033-10-17
year: 6.945927447
金額: 1781.196029
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1792.309247
issuer_shares_bought: 147763
old_cohort_shares_tendered: 146846.79515493
ownership_fraction_at_tender: 0.99379949754
repurchase_price_krw: 1212962.14

内容を開く

想定日: 2033-12-29
year: 7.1457905544
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2033
common_dps_krw: 11450
preferred_dps_krw: 11500
record_date: 2033-12-31
scheduled_payment_date_assumed: 2034-04-17
preferred_cash_not_attributable_to_old_common_oku: 328.15871
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2034-04-17
year: 7.4442162902
金額: 8243.36089
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2033
dps_krw: 11450
record_date: 2033-12-31
declaration_date_assumed: 2034-03-15
record_common_shares: 72443605
old_cohort_record_shares: 71994418.24895
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2033-12-29

内容を開く

想定日: 2034-06-30
year: 7.6468172485
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 67985
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1267545.44

内容を開く

想定日: 2034-10-16
year: 7.9425051335
金額: 1872.214916
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1885.663968
issuer_shares_bought: 148765
old_cohort_shares_tendered: 147703.9688525
ownership_fraction_at_tender: 0.992867736716
repurchase_price_krw: 1267545.436

内容を開く

想定日: 2034-12-29
year: 8.1451060917
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2034
common_dps_krw: 12050
preferred_dps_krw: 12100
record_date: 2034-12-31
scheduled_payment_date_assumed: 2035-04-17
preferred_cash_not_attributable_to_old_common_oku: 345.280034
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2035-04-17
year: 8.4435318275
金額: 8657.529071
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2034
dps_krw: 12050
record_date: 2034-12-31
declaration_date_assumed: 2035-03-15
record_common_shares: 72362825
old_cohort_record_shares: 71846714.280098
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2034-12-29

内容を開く

想定日: 2035-06-30
year: 8.6461327858
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 67903
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1324584.98

内容を開く

想定日: 2035-10-15
year: 8.93908282
金額: 1944.447662
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1960.253313
issuer_shares_bought: 147990
old_cohort_shares_tendered: 146796.74690432
ownership_fraction_at_tender: 0.991936934282
repurchase_price_krw: 1324584.981

内容を開く

想定日: 2035-12-28
year: 9.1416837782
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2035
common_dps_krw: 12500
preferred_dps_krw: 12550
record_date: 2035-12-31
scheduled_payment_date_assumed: 2036-04-17
preferred_cash_not_attributable_to_old_common_oku: 358.121027
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2036-04-17
year: 9.4455852156
金額: 8962.489692
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2035
dps_krw: 12500
record_date: 2035-12-31
declaration_date_assumed: 2036-03-17
record_common_shares: 72282738
old_cohort_record_shares: 71699917.533193
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2035-12-28

内容を開く

想定日: 2036-06-30
year: 9.6481861739
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 57318
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1384191.31

内容を開く

想定日: 2036-10-15
year: 9.9411362081
金額: 1705.544127
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1720.771263
issuer_shares_bought: 124316
old_cohort_shares_tendered: 123215.9254626
ownership_fraction_at_tender: 0.991150981874
repurchase_price_krw: 1384191.305

その他の数値・前提

scenario

neutral

label_ja

中立

parameters

内容を開く

q4_revenue

1: 20000
2: 10200
3: 10200

q4_margins

1: 0.26
2: 0.19
3: 0.045

q4_overhead_rate

0.019

growth_c

内容を開く

1: 0.17
2: 0.14
3: 0.105
4: 0.085
5: 0.07
6: 0.06
7: 0.055
8: 0.05
9: 0.045
10: 0.04

growth_p

内容を開く

1: 0.25
2: 0.22
3: 0.17
4: 0.13
5: 0.1
6: 0.085
7: 0.075
8: 0.065
9: 0.055
10: 0.045

growth_o

内容を開く

1: 0.04
2: 0.045
3: 0.04
4: 0.035
5: 0.03
6: 0.025
7: 0.025
8: 0.02
9: 0.02
10: 0.02

margins_2027

1: 0.267
2: 0.217
3: 0.062

margins_2036

1: 0.234
2: 0.193
3: 0.057

overhead

0.015

税率

24.00%

nci_income_share

0.036

nci_fair_share

0.043

other_nonop

0.0045

cash_interest

0.017

debt_interest

0.05

depreciation_rate

0.072

sbc_rate

0.003

working_capital_rate

0.1

capex_maint_rate

0.067

extra_capex

内容を開く

2028: 8000
2029: 4900
2030: 1800
2027: 1200

dividend_ratio

0.24

buyback_ratio

0.05

annual_share_price_drift

0.045

wacc

0.091

cost_equity

0.115

g_terminal

0.025

ron_ic_terminal

0.18

initial_cutoff_bridge

内容を開く

as_of_q3_reported

内容を開く

日付: 2026-09-30
現金（億）: 41137
debt_oku: 34263
equity_total_oku: 104988
ppe_intangible_oku: 70435
nci_equity_proxy_oku: 3148.63
parent_equity_proxy_oku: 101839.37

model_assumed_q3_nci_rollforward

Q2 NCI 2985.63oku +Q3 company-reported consolidated 4850oku less parent 4687oku=3148.63oku; disregards Q3 NCI OCI/dividend

jv_2026_11_05_partner_cash_capital_injection_oku_assumed

1630

jv_intra_group_parent_cash_subscription_oku_excluded_from_consolidated_cash_outflow

2391

jv_intra_group_in_kind_subscription_oku_excluded_from_consolidated_cashflow

800

2026_09_30_to_11_06_modelled_period

内容を開く

period

2026-09-30_to_2026-11-06_proxy

状態

historical_to_cutoff_synthetic_bridge

開始日

2026-09-30

終了日

2026-11-06

start_days_from_2026-11-06

-37

end_days_from_2026-11-06

period_fraction_365_25

0.101300479

opening

内容を開く

親会社持分（億）: 101839.37
非支配持分資本（億）: 3148.63
consolidated_equity_oku: 104988
現金（億）: 41137
interest_bearing_debt_oku: 34263
net_debt_oku: -6874
ppe_plus_intangibles_oku: 70435
common_issued_shares: 74693696
common_treasury_shares: 2000000
common_outstanding_shares: 72693696
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 1

segments

component

sales_oku: 8043.478261
operating_margin_after_sbc_proxy: 0.26
営業利益（株式報酬控除後）: 2091.304348

package

sales_oku: 4102.173913
operating_margin_after_sbc_proxy: 0.19
営業利益（株式報酬控除後）: 779.413043

optics

sales_oku: 4102.173913
operating_margin_after_sbc_proxy: 0.045
営業利益（株式報酬控除後）: 184.597826

income

内容を開く

total_sales_oku: 16247.826087
unallocated_corporate_cost_oku: 308.708696
営業利益（株式報酬控除後）: 2746.606522
sbc_expense_included_in_operating_profit_oku: 48.743478
interest_income_oku: 70.842363
interest_expense_oku: 173.542916
other_nonoperating_oku: -73.115217
profit_before_tax_oku: 2570.790751
income_tax_expense_oku: 616.98978
consolidated_net_profit_oku: 1953.800971
nci_profit_oku: 70.336835
parent_net_profit_after_sbc_oku: 1883.464136
depreciation_and_amortization_oku: 1169.843478

cashflow

内容を開く

operating_cashflow_proxy_oku: 3021.045058
capital_expenditure_cash_oku: 3380.995652
committed_FCBGA_project_capex_within_total_oku: 1809.782609
maintenance_capex_proxy_oku: 1088.604348
additional_growth_capex_oku: 482.608696
working_capital_investment_oku: 151.34287
free_cashflow_before_financing_oku: -359.950594
dividend_cash_paid_common_oku: 0
dividend_cash_paid_preferred_oku: 0
nci_cash_dividend_oku: 0
external_nci_capital_cash_received_oku: 1630
issuer_common_share_buyback_cash_oku: 0
net_debt_issuance_repayment_oku: -5993.572233
cash_identity_close_oku: 36413.477173

shares_and_holder

内容を開く

new_common_shares_from_sbc: 0
sbc_issuance_date_assumed: 未確認
sbc_grant_fair_value_price_proxy_krw: 未確認
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 0
assumed_buyback_price_krw: 未確認
old_common_shares_tendered: 0
proportional_tender_ratio: 0
old_holder_cash_dividends_received_oku: 0
old_holder_buyback_cash_received_oku: 0
old_holder_total_cash_received_oku: 0
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 101839.37
parent_profit_oku: 1883.464136
equity_settled_sbc_reserve_credit_oku: 48.743478
dividend_declared_and_paid_common_oku: 0
dividend_declared_and_paid_preferred_oku: 0
treasury_common_buyback_oku: 0
nci_open_oku: 3148.63
nci_profit_oku: 70.336835
nci_dividend_oku: 0
external_nci_cash_capital_oku: 1630
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 103771.577614

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 103771.577614
非支配持分資本（億）: 4848.966835
consolidated_equity_oku: 108620.544449
現金（億）: 36413.477173
interest_bearing_debt_oku: 28269.427767
net_debt_oku: -8144.049406
ppe_plus_intangibles_oku: 72646.152174
common_issued_shares: 74693696
common_treasury_shares: 2000000
common_outstanding_shares: 72693696
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 1

dividend_paid_from_fiscal_year

未確認

dividend_right_created_fiscal_year

未確認

source_class

author_model_assumption_not_company_guidance

2026_11_06_opening_state

内容を開く

親会社持分（億）: 103771.577614
非支配持分資本（億）: 4848.966835
consolidated_equity_oku: 108620.544449
現金（億）: 36413.477173
interest_bearing_debt_oku: 28269.427767
net_debt_oku: -8144.049406
ppe_plus_intangibles_oku: 72646.152174
common_issued_shares: 74693696
common_treasury_shares: 2000000
common_outstanding_shares: 72693696
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 1

annual_fy2026_to_2035

内容を開く

2027

内容を開く

year

2026

状態

nine_month_reported_plus_q4_scenario_proxy

actual_preliminary_9m

内容を開く

component_sales_oku: 49409
package_sales_oku: 24356
optics_sales_oku: 30531
sales_oku: 104296
営業利益（億）: 14120
parent_profit_oku: 10336
pre_tax_oku: 13594
tax_oku: 2936
total_net_profit_oku: 10660
nci_net_profit_oku: 324

full_year_segment_sales_oku

component: 69409
package: 34556
optics: 40731

q4_full_year_scenario_sales_oku

component: 20000
package: 10200
optics: 10200

full_year_sales_oku

144696

q4_operating_profit_oku

6829.4

full_year_pretax_oku

20019.270904

full_year_income_tax_expense_oku

4478.065017

full_year_consolidated_net_profit_oku

15543.205887

full_year_nci_profit_oku

499.795412

full_year_operating_profit_oku

20949.4

full_year_parent_net_profit_after_sbc_oku

15043.410475

forecast_2026_annual_common_dps_paid_in_2027_krw

4800

dividend_status

forecast_not_declared_as_of_cutoff

2028

内容を開く

year

2027

状態

forecast

annual_revenue_oku

166763.77

annual_segment_sales_oku

component: 81208.53
package: 43195
optics: 42360.24

annual_ebit_after_sbc_oku

31180.87084

annual_parent_profit_after_sbc_oku

21780.664287

2029

内容を開く

year

2028

状態

forecast

annual_revenue_oku

189542.075

annual_segment_sales_oku

component: 92577.7242
package: 52697.9
optics: 44266.4508

annual_ebit_after_sbc_oku

35550.513625

annual_parent_profit_after_sbc_oku

24526.047094

2030

内容を開く

year

2029

状態

forecast

annual_revenue_oku

209992.037073

annual_segment_sales_oku

component: 102298.385241
package: 61656.543
optics: 46037.108832

annual_ebit_after_sbc_oku

39267.383484

annual_parent_profit_after_sbc_oku

26735.704723

2031

内容を開く

year

2030

状態

forecast

annual_revenue_oku

228314.049218

annual_segment_sales_oku

component: 110993.747986
package: 69671.89359
optics: 47648.407641

annual_ebit_after_sbc_oku

42425.901768

annual_parent_profit_after_sbc_oku

29141.308755

2032

内容を開く

year

2031

状態

forecast

annual_revenue_oku

244480.253165

annual_segment_sales_oku

component: 118763.310346
package: 76639.082949
optics: 49077.85987

annual_ebit_after_sbc_oku

45047.701029

annual_parent_profit_after_sbc_oku

31393.066045

2033

内容を開く

year

2032

状態

forecast

annual_revenue_oku

259347.320333

annual_segment_sales_oku

component: 125889.108966
package: 83153.405
optics: 50304.806367

annual_ebit_after_sbc_oku

47328.954531

annual_parent_profit_after_sbc_oku

33614.470395

2034

内容を開く

year

2033

状態

forecast

annual_revenue_oku

273765.34686

annual_segment_sales_oku

component: 132813.009959
package: 89389.910375
optics: 51562.426526

annual_ebit_after_sbc_oku

49425.074912

annual_parent_profit_after_sbc_oku

35846.343404

2035

内容を開く

year

2034

状態

forecast

annual_revenue_oku

287247.590063

annual_segment_sales_oku

component: 139453.660457
package: 95200.254549
optics: 52593.675057

annual_ebit_after_sbc_oku

51283.763587

annual_parent_profit_after_sbc_oku

37713.309752

2036

内容を開く

year

2035

状態

forecast

annual_revenue_oku

299810.892285

annual_segment_sales_oku

component: 145729.075178
package: 100436.268549
optics: 53645.548558

annual_ebit_after_sbc_oku

52877.409379

annual_parent_profit_after_sbc_oku

39205.3047

forecast_periods

内容を開く

period

2026_first_partial_11-06_to_12-31

状態

forecast_assumption_post_2026-11-06

開始日

2026-11-06

終了日

2026-12-31

start_days_from_2026-11-06

end_days_from_2026-11-06

period_fraction_365_25

0.150581793

opening

内容を開く

親会社持分（億）: 103771.577614
非支配持分資本（億）: 4848.966835
consolidated_equity_oku: 108620.544449
現金（億）: 36413.477173
interest_bearing_debt_oku: 28269.427767
net_debt_oku: -8144.049406
ppe_plus_intangibles_oku: 72646.152174
common_issued_shares: 74693696
common_treasury_shares: 2000000
common_outstanding_shares: 72693696
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 1

segments

component

sales_oku: 11956.521739
operating_margin_after_sbc_proxy: 0.26
営業利益（株式報酬控除後）: 3108.695652

package

sales_oku: 6097.826087
operating_margin_after_sbc_proxy: 0.19
営業利益（株式報酬控除後）: 1158.586957

optics

sales_oku: 6097.826087
operating_margin_after_sbc_proxy: 0.045
営業利益（株式報酬控除後）: 274.402174

income

内容を開く

total_sales_oku: 24152.173913
unallocated_corporate_cost_oku: 458.891304
営業利益（株式報酬控除後）: 4082.793478
sbc_expense_included_in_operating_profit_oku: 72.456522
interest_income_oku: 93.214514
interest_expense_oku: 212.843056
other_nonoperating_oku: -108.684783
profit_before_tax_oku: 3854.480153
income_tax_expense_oku: 925.075237
consolidated_net_profit_oku: 2929.404916
nci_profit_oku: 105.458577
parent_net_profit_after_sbc_oku: 2823.946339
depreciation_and_amortization_oku: 1738.956522

cashflow

内容を開く

operating_cashflow_proxy_oku: 4515.848829
capital_expenditure_cash_oku: 5025.804348
committed_FCBGA_project_capex_within_total_oku: 2690.217391
maintenance_capex_proxy_oku: 1618.195652
additional_growth_capex_oku: 717.391304
working_capital_investment_oku: 224.96913
free_cashflow_before_financing_oku: -509.955519
dividend_cash_paid_common_oku: 0
dividend_cash_paid_preferred_oku: 0
nci_cash_dividend_oku: 0
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 0
net_debt_issuance_repayment_oku: -3066.984745
cash_identity_close_oku: 32836.53691

shares_and_holder

内容を開く

new_common_shares_from_sbc: 0
sbc_issuance_date_assumed: 未確認
sbc_grant_fair_value_price_proxy_krw: 未確認
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 0
assumed_buyback_price_krw: 未確認
old_common_shares_tendered: 0
proportional_tender_ratio: 0
old_holder_cash_dividends_received_oku: 0
old_holder_buyback_cash_received_oku: 0
old_holder_total_cash_received_oku: 0
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 103771.577614
parent_profit_oku: 2823.946339
equity_settled_sbc_reserve_credit_oku: 72.456522
dividend_declared_and_paid_common_oku: 0
dividend_declared_and_paid_preferred_oku: 0
treasury_common_buyback_oku: 0
nci_open_oku: 4848.966835
nci_profit_oku: 105.458577
nci_dividend_oku: 0
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 106667.980475

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 106667.980475
非支配持分資本（億）: 4954.425412
consolidated_equity_oku: 111622.405887
現金（億）: 32836.53691
interest_bearing_debt_oku: 25202.443023
net_debt_oku: -7634.093887
ppe_plus_intangibles_oku: 75933
common_issued_shares: 74693696
common_treasury_shares: 2000000
common_outstanding_shares: 72693696
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 1

dividend_paid_from_fiscal_year

未確認

dividend_right_created_fiscal_year

未確認

source_class

author_model_assumption_not_company_guidance

内容を開く

period

2027_full_year

状態

forecast_assumption_post_2026-11-06

開始日

2026-12-31

終了日

2027-12-31

start_days_from_2026-11-06

end_days_from_2026-11-06

420

period_fraction_365_25

0.999315537

opening

内容を開く

親会社持分（億）: 106667.980475
非支配持分資本（億）: 4954.425412
consolidated_equity_oku: 111622.405887
現金（億）: 32836.53691
interest_bearing_debt_oku: 25202.443023
net_debt_oku: -7634.093887
ppe_plus_intangibles_oku: 75933
common_issued_shares: 74693696
common_treasury_shares: 2000000
common_outstanding_shares: 72693696
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 1

segments

component

sales_oku: 81208.53
operating_margin_after_sbc_proxy: 0.267
営業利益（株式報酬控除後）: 21682.67751

package

sales_oku: 43195
operating_margin_after_sbc_proxy: 0.217
営業利益（株式報酬控除後）: 9373.315

optics

sales_oku: 42360.24
operating_margin_after_sbc_proxy: 0.062
営業利益（株式報酬控除後）: 2626.33488

income

内容を開く

total_sales_oku: 166763.77
unallocated_corporate_cost_oku: 2501.45655
営業利益（株式報酬控除後）: 31180.87084
sbc_expense_included_in_operating_profit_oku: 500.29131
interest_income_oku: 557.839046
interest_expense_oku: 1259.259645
other_nonoperating_oku: -750.436965
profit_before_tax_oku: 29729.013276
income_tax_expense_oku: 7134.963186
consolidated_net_profit_oku: 22594.05009
nci_profit_oku: 813.385803
parent_net_profit_after_sbc_oku: 21780.664287
depreciation_and_amortization_oku: 12006.99144

cashflow

内容を開く

operating_cashflow_proxy_oku: 32894.55584
capital_expenditure_cash_oku: 50173.17259
committed_FCBGA_project_capex_within_total_oku: 31000
maintenance_capex_proxy_oku: 11173.17259
additional_growth_capex_oku: 8000
working_capital_investment_oku: 2206.777
free_cashflow_before_financing_oku: -17278.61675
dividend_cash_paid_common_oku: 3489.297408
dividend_cash_paid_preferred_oku: 138.397369
nci_cash_dividend_oku: 97.606296
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 0
net_debt_issuance_repayment_oku: 4843.757913
cash_identity_close_oku: 16676.377

shares_and_holder

内容を開く

new_common_shares_from_sbc: 66725
sbc_issuance_date_assumed: 2027-06-30
sbc_grant_fair_value_price_proxy_krw: 931428.458
prior_year_SBC_credit_now_issued_in_shares_oku: 121.2
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 0
assumed_buyback_price_krw: 未確認
old_common_shares_tendered: 0
proportional_tender_ratio: 0
old_holder_cash_dividends_received_oku: 3489.297408
old_holder_buyback_cash_received_oku: 0
old_holder_total_cash_received_oku: 3489.297408
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 106667.980475
parent_profit_oku: 21780.664287
equity_settled_sbc_reserve_credit_oku: 500.29131
dividend_declared_and_paid_common_oku: 3489.297408
dividend_declared_and_paid_preferred_oku: 138.397369
treasury_common_buyback_oku: 0
nci_open_oku: 4954.425412
nci_profit_oku: 813.385803
nci_dividend_oku: 97.606296
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 125321.241295

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 125321.241295
非支配持分資本（億）: 5670.204919
consolidated_equity_oku: 130991.446214
現金（億）: 16676.377
interest_bearing_debt_oku: 30046.200936
net_debt_oku: 13369.823936
ppe_plus_intangibles_oku: 114099.18115
common_issued_shares: 74760421
common_treasury_shares: 2000000
common_outstanding_shares: 72760421
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 0.999082949231

dividend_paid_from_fiscal_year

2026

dividend_right_created_fiscal_year

2027

source_class

author_model_assumption_not_company_guidance

内容を開く

period

2028_full_year

状態

forecast_assumption_post_2026-11-06

開始日

2027-12-31

終了日

2028-12-31

start_days_from_2026-11-06

420

end_days_from_2026-11-06

786

period_fraction_365_25

1.002053388

opening

内容を開く

親会社持分（億）: 125321.241295
非支配持分資本（億）: 5670.204919
consolidated_equity_oku: 130991.446214
現金（億）: 16676.377
interest_bearing_debt_oku: 30046.200936
net_debt_oku: 13369.823936
ppe_plus_intangibles_oku: 114099.18115
common_issued_shares: 74760421
common_treasury_shares: 2000000
common_outstanding_shares: 72760421
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 0.999082949231

segments

component

sales_oku: 92577.7242
operating_margin_after_sbc_proxy: 0.2633333
営業利益（株式報酬控除後）: 24378.800706

package

sales_oku: 52697.9
operating_margin_after_sbc_proxy: 0.2143333
営業利益（株式報酬控除後）: 11294.916567

optics

sales_oku: 44266.4508
operating_margin_after_sbc_proxy: 0.0614444
営業利益（株式報酬控除後）: 2719.927477

income

内容を開く

total_sales_oku: 189542.075
unallocated_corporate_cost_oku: 2843.131125
営業利益（株式報酬控除後）: 35550.513625
sbc_expense_included_in_operating_profit_oku: 568.626225
interest_income_oku: 284.080541
interest_expense_oku: 1505.394872
other_nonoperating_oku: -852.939337
profit_before_tax_oku: 33476.259956
income_tax_expense_oku: 8034.302389
consolidated_net_profit_oku: 25441.957567
nci_profit_oku: 915.910472
parent_net_profit_after_sbc_oku: 24526.047094
depreciation_and_amortization_oku: 13647.0294

cashflow

内容を開く

operating_cashflow_proxy_oku: 37379.782692
capital_expenditure_cash_oku: 42799.319025
committed_FCBGA_project_capex_within_total_oku: 25200
maintenance_capex_proxy_oku: 12699.319025
additional_growth_capex_oku: 4900
working_capital_investment_oku: 2277.8305
free_cashflow_before_financing_oku: -5419.536333
dividend_cash_paid_common_oku: 5020.469049
dividend_cash_paid_preferred_oku: 198.322003
nci_cash_dividend_oku: 109.909257
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 0
net_debt_issuance_repayment_oku: 13026.067142
cash_identity_close_oku: 18954.2075

shares_and_holder

内容を開く

new_common_shares_from_sbc: 58420
sbc_issuance_date_assumed: 2028-06-30
sbc_grant_fair_value_price_proxy_krw: 973342.739
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 0
assumed_buyback_price_krw: 未確認
old_common_shares_tendered: 0
proportional_tender_ratio: 0
old_holder_cash_dividends_received_oku: 5015.865024
old_holder_buyback_cash_received_oku: 0
old_holder_total_cash_received_oku: 5015.865024
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 125321.241295
parent_profit_oku: 24526.047094
equity_settled_sbc_reserve_credit_oku: 568.626225
dividend_declared_and_paid_common_oku: 5020.469049
dividend_declared_and_paid_preferred_oku: 198.322003
treasury_common_buyback_oku: 0
nci_open_oku: 5670.204919
nci_profit_oku: 915.910472
nci_dividend_oku: 109.909257
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 145197.123562

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 145197.123562
非支配持分資本（億）: 6476.206135
consolidated_equity_oku: 151673.329697
現金（億）: 18954.2075
interest_bearing_debt_oku: 43072.268078
net_debt_oku: 24118.060578
ppe_plus_intangibles_oku: 143251.470775
common_issued_shares: 74818841
common_treasury_shares: 2000000
common_outstanding_shares: 72818841
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 0.998281420052

dividend_paid_from_fiscal_year

2027

dividend_right_created_fiscal_year

2028

source_class

author_model_assumption_not_company_guidance

内容を開く

period

2029_full_year

状態

forecast_assumption_post_2026-11-06

開始日

2028-12-31

終了日

2029-12-31

start_days_from_2026-11-06

786

end_days_from_2026-11-06

1151

period_fraction_365_25

0.999315537

opening

内容を開く

親会社持分（億）: 145197.123562
非支配持分資本（億）: 6476.206135
consolidated_equity_oku: 151673.329697
現金（億）: 18954.2075
interest_bearing_debt_oku: 43072.268078
net_debt_oku: 24118.060578
ppe_plus_intangibles_oku: 143251.470775
common_issued_shares: 74818841
common_treasury_shares: 2000000
common_outstanding_shares: 72818841
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 0.998281420052

segments

component

sales_oku: 102298.385241
operating_margin_after_sbc_proxy: 0.2596667
営業利益（株式報酬控除後）: 26563.480701

package

sales_oku: 61656.543
operating_margin_after_sbc_proxy: 0.2116667
営業利益（株式報酬控除後）: 13050.634935

optics

sales_oku: 46037.108832
operating_margin_after_sbc_proxy: 0.0608889
営業利益（株式報酬控除後）: 2803.148404

income

内容を開く

total_sales_oku: 209992.037073
unallocated_corporate_cost_oku: 3149.880556
営業利益（株式報酬控除後）: 39267.383484
sbc_expense_included_in_operating_profit_oku: 629.976111
interest_income_oku: 322.000979
interest_expense_oku: 2152.139336
other_nonoperating_oku: -944.964167
profit_before_tax_oku: 36492.28096
income_tax_expense_oku: 8758.147431
consolidated_net_profit_oku: 27734.13353
nci_profit_oku: 998.428807
parent_net_profit_after_sbc_oku: 26735.704723
depreciation_and_amortization_oku: 15119.426669

cashflow

内容を開く

operating_cashflow_proxy_oku: 41438.540103
capital_expenditure_cash_oku: 21869.466484
committed_FCBGA_project_capex_within_total_oku: 6000
maintenance_capex_proxy_oku: 14069.466484
additional_growth_capex_oku: 1800
working_capital_investment_oku: 2044.996207
free_cashflow_before_financing_oku: 19569.073619
dividend_cash_paid_common_oku: 5679.869598
dividend_cash_paid_preferred_oku: 224.003989
nci_cash_dividend_oku: 119.811457
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 1336.7804
net_debt_issuance_repayment_oku: 0
cash_identity_close_oku: 31162.815675

shares_and_holder

内容を開く

new_common_shares_from_sbc: 61936
sbc_issuance_date_assumed: 2029-06-30
sbc_grant_fair_value_price_proxy_krw: 1017143.162
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 131425
assumed_buyback_price_krw: 1017143.162
old_common_shares_tendered: 131087.63915621
proportional_tender_ratio: 0.997433054261
old_holder_cash_dividends_received_oku: 5670.108288
old_holder_buyback_cash_received_oku: 1333.348958
old_holder_total_cash_received_oku: 7003.457246
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 145197.123562
parent_profit_oku: 26735.704723
equity_settled_sbc_reserve_credit_oku: 629.976111
dividend_declared_and_paid_common_oku: 5679.869598
dividend_declared_and_paid_preferred_oku: 224.003989
treasury_common_buyback_oku: 1336.7804
nci_open_oku: 6476.206135
nci_profit_oku: 998.428807
nci_dividend_oku: 119.811457
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 165322.150409

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 165322.150409
非支配持分資本（億）: 7354.823485
consolidated_equity_oku: 172676.973894
現金（億）: 31162.815675
interest_bearing_debt_oku: 43072.268078
net_debt_oku: 11909.452403
ppe_plus_intangibles_oku: 150001.51059
common_issued_shares: 74880777
common_treasury_shares: 2131425
common_outstanding_shares: 72749352
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72562608.360844
old_cohort_pct_of_common_outstanding: 0.997433054261

dividend_paid_from_fiscal_year

2028

dividend_right_created_fiscal_year

2029

source_class

author_model_assumption_not_company_guidance

内容を開く

period

2030_full_year

状態

forecast_assumption_post_2026-11-06

開始日

2029-12-31

終了日

2030-12-31

start_days_from_2026-11-06

1151

end_days_from_2026-11-06

1516

period_fraction_365_25

0.999315537

opening

内容を開く

親会社持分（億）: 165322.150409
非支配持分資本（億）: 7354.823485
consolidated_equity_oku: 172676.973894
現金（億）: 31162.815675
interest_bearing_debt_oku: 43072.268078
net_debt_oku: 11909.452403
ppe_plus_intangibles_oku: 150001.51059
common_issued_shares: 74880777
common_treasury_shares: 2131425
common_outstanding_shares: 72749352
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72562608.360844
old_cohort_pct_of_common_outstanding: 0.997433054261

segments

component

sales_oku: 110993.747986
operating_margin_after_sbc_proxy: 0.256
営業利益（株式報酬控除後）: 28414.399485

package

sales_oku: 69671.89359
operating_margin_after_sbc_proxy: 0.209
営業利益（株式報酬控除後）: 14561.42576

optics

sales_oku: 47648.407641
operating_margin_after_sbc_proxy: 0.0603333
営業利益（株式報酬控除後）: 2874.787261

income

内容を開く

total_sales_oku: 228314.049218
unallocated_corporate_cost_oku: 3424.710738
営業利益（株式報酬控除後）: 42425.901768
sbc_expense_included_in_operating_profit_oku: 684.942148
interest_income_oku: 529.40526
interest_expense_oku: 2152.139336
other_nonoperating_oku: -1027.413221
profit_before_tax_oku: 39775.75447
income_tax_expense_oku: 9546.181073
consolidated_net_profit_oku: 30229.573397
nci_profit_oku: 1088.264642
parent_net_profit_after_sbc_oku: 29141.308755
depreciation_and_amortization_oku: 16438.611544

cashflow

内容を開く

operating_cashflow_proxy_oku: 45520.925874
capital_expenditure_cash_oku: 16397.041298
committed_FCBGA_project_capex_within_total_oku: 1100
maintenance_capex_proxy_oku: 15297.041298
additional_growth_capex_oku: 0
working_capital_investment_oku: 1832.201214
free_cashflow_before_financing_oku: 29123.884577
dividend_cash_paid_common_oku: 6183.69492
dividend_cash_paid_preferred_oku: 243.978867
nci_cash_dividend_oku: 130.591757
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 1457.064598
net_debt_issuance_repayment_oku: -5028.678563
cash_identity_close_oku: 47242.691547

shares_and_holder

内容を開く

new_common_shares_from_sbc: 64440
sbc_issuance_date_assumed: 2030-06-30
sbc_grant_fair_value_price_proxy_krw: 1062914.604
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 137082
assumed_buyback_price_krw: 1062914.604
old_common_shares_tendered: 136609.11217646
proportional_tender_ratio: 0.996550328828
old_holder_cash_dividends_received_oku: 6167.821711
old_holder_buyback_cash_received_oku: 1452.038204
old_holder_total_cash_received_oku: 7619.859915
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 165322.150409
parent_profit_oku: 29141.308755
equity_settled_sbc_reserve_credit_oku: 684.942148
dividend_declared_and_paid_common_oku: 6183.69492
dividend_declared_and_paid_preferred_oku: 243.978867
treasury_common_buyback_oku: 1457.064598
nci_open_oku: 7354.823485
nci_profit_oku: 1088.264642
nci_dividend_oku: 130.591757
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 187263.662927

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 187263.662927
非支配持分資本（億）: 8312.49637
consolidated_equity_oku: 195576.159297
現金（億）: 47242.691547
interest_bearing_debt_oku: 38043.589515
net_debt_oku: -9199.102032
ppe_plus_intangibles_oku: 149959.940344
common_issued_shares: 74945217
common_treasury_shares: 2268507
common_outstanding_shares: 72676710
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72425999.248667
old_cohort_pct_of_common_outstanding: 0.996550328828

dividend_paid_from_fiscal_year

2029

dividend_right_created_fiscal_year

2030

source_class

author_model_assumption_not_company_guidance

内容を開く

period

2031_full_year

状態

forecast_assumption_post_2026-11-06

開始日

2030-12-31

終了日

2031-12-31

start_days_from_2026-11-06

1516

end_days_from_2026-11-06

1881

period_fraction_365_25

0.999315537

opening

内容を開く

親会社持分（億）: 187263.662927
非支配持分資本（億）: 8312.49637
consolidated_equity_oku: 195576.159297
現金（億）: 47242.691547
interest_bearing_debt_oku: 38043.589515
net_debt_oku: -9199.102032
ppe_plus_intangibles_oku: 149959.940344
common_issued_shares: 74945217
common_treasury_shares: 2268507
common_outstanding_shares: 72676710
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72425999.248667
old_cohort_pct_of_common_outstanding: 0.996550328828

segments

component

sales_oku: 118763.310346
operating_margin_after_sbc_proxy: 0.2523333
営業利益（株式報酬控除後）: 29967.941977

package

sales_oku: 76639.082949
operating_margin_after_sbc_proxy: 0.2063333
営業利益（株式報酬控除後）: 15813.197448

optics

sales_oku: 49077.85987
operating_margin_after_sbc_proxy: 0.0597778
営業利益（株式報酬控除後）: 2933.765401

income

内容を開く

total_sales_oku: 244480.253165
unallocated_corporate_cost_oku: 3667.203797
営業利益（株式報酬控除後）: 45047.701029
sbc_expense_included_in_operating_profit_oku: 733.440759
interest_income_oku: 802.576047
interest_expense_oku: 1900.877505
other_nonoperating_oku: -1100.161139
profit_before_tax_oku: 42849.238432
income_tax_expense_oku: 10283.817224
consolidated_net_profit_oku: 32565.421208
nci_profit_oku: 1172.355163
parent_net_profit_after_sbc_oku: 31393.066045
depreciation_and_amortization_oku: 17602.578228

cashflow

内容を開く

operating_cashflow_proxy_oku: 49284.819801
capital_expenditure_cash_oku: 16380.176962
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 16380.176962
additional_growth_capex_oku: 0
working_capital_investment_oku: 1616.620395
free_cashflow_before_financing_oku: 32904.642839
dividend_cash_paid_common_oku: 6722.595675
dividend_cash_paid_preferred_oku: 265.380522
nci_cash_dividend_oku: 140.68262
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 1569.650373
net_debt_issuance_repayment_oku: -12349.160832
cash_identity_close_oku: 59099.864365

shares_and_holder

内容を開く

new_common_shares_from_sbc: 66031
sbc_issuance_date_assumed: 2031-06-30
sbc_grant_fair_value_price_proxy_krw: 1110745.761
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 141315
assumed_buyback_price_krw: 1110745.761
old_common_shares_tendered: 140699.6759144
proportional_tender_ratio: 0.995645727024
old_holder_cash_dividends_received_oku: 6699.404931
old_holder_buyback_cash_received_oku: 1562.815686
old_holder_total_cash_received_oku: 8262.220617
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 187263.662927
parent_profit_oku: 31393.066045
equity_settled_sbc_reserve_credit_oku: 733.440759
dividend_declared_and_paid_common_oku: 6722.595675
dividend_declared_and_paid_preferred_oku: 265.380522
treasury_common_buyback_oku: 1569.650373
nci_open_oku: 8312.49637
nci_profit_oku: 1172.355163
nci_dividend_oku: 140.68262
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 210832.543162

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 210832.543162
非支配持分資本（億）: 9344.168914
consolidated_equity_oku: 220176.712076
現金（億）: 59099.864365
interest_bearing_debt_oku: 25694.428683
net_debt_oku: -33405.435682
ppe_plus_intangibles_oku: 148737.539078
common_issued_shares: 75011248
common_treasury_shares: 2409822
common_outstanding_shares: 72601426
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72285299.572753
old_cohort_pct_of_common_outstanding: 0.995645727024

dividend_paid_from_fiscal_year

2030

dividend_right_created_fiscal_year

2031

source_class

author_model_assumption_not_company_guidance

内容を開く

period

2032_full_year

状態

forecast_assumption_post_2026-11-06

開始日

2031-12-31

終了日

2032-12-31

start_days_from_2026-11-06

1881

end_days_from_2026-11-06

2247

period_fraction_365_25

1.002053388

opening

内容を開く

親会社持分（億）: 210832.543162
非支配持分資本（億）: 9344.168914
consolidated_equity_oku: 220176.712076
現金（億）: 59099.864365
interest_bearing_debt_oku: 25694.428683
net_debt_oku: -33405.435682
ppe_plus_intangibles_oku: 148737.539078
common_issued_shares: 75011248
common_treasury_shares: 2409822
common_outstanding_shares: 72601426
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72285299.572753
old_cohort_pct_of_common_outstanding: 0.995645727024

segments

component

sales_oku: 125889.108966
operating_margin_after_sbc_proxy: 0.2486667
営業利益（株式報酬控除後）: 31304.425096

package

sales_oku: 83153.405
operating_margin_after_sbc_proxy: 0.2036667
営業利益（株式報酬控除後）: 16935.576818

optics

sales_oku: 50304.806367
operating_margin_after_sbc_proxy: 0.0592222
営業利益（株式報酬控除後）: 2979.162422

income

内容を開く

total_sales_oku: 259347.320333
unallocated_corporate_cost_oku: 3890.209805
営業利益（株式報酬控除後）: 47328.954531
sbc_expense_included_in_operating_profit_oku: 778.041961
interest_income_oku: 1006.760728
interest_expense_oku: 1287.359466
other_nonoperating_oku: -1167.062941
profit_before_tax_oku: 45881.292852
income_tax_expense_oku: 11011.510285
consolidated_net_profit_oku: 34869.782568
nci_profit_oku: 1255.312172
parent_net_profit_after_sbc_oku: 33614.470395
depreciation_and_amortization_oku: 18673.007064

cashflow

内容を開く

operating_cashflow_proxy_oku: 52834.124876
capital_expenditure_cash_oku: 17376.270462
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 17376.270462
additional_growth_capex_oku: 0
working_capital_investment_oku: 1486.706717
free_cashflow_before_financing_oku: 35457.854414
dividend_cash_paid_common_oku: 7260.1426
dividend_cash_paid_preferred_oku: 286.782177
nci_cash_dividend_oku: 150.637461
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 1680.712842
net_debt_issuance_repayment_oku: -17323.616718
cash_identity_close_oku: 67855.826981

shares_and_holder

内容を開く

new_common_shares_from_sbc: 67030
sbc_issuance_date_assumed: 2032-06-30
sbc_grant_fair_value_price_proxy_krw: 1160729.321
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 144798
assumed_buyback_price_krw: 1160729.321
old_common_shares_tendered: 144034.52864797
proportional_tender_ratio: 0.994727334963
old_holder_cash_dividends_received_oku: 7228.529957
old_holder_buyback_cash_received_oku: 1671.851006
old_holder_total_cash_received_oku: 8900.380963
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 210832.543162
parent_profit_oku: 33614.470395
equity_settled_sbc_reserve_credit_oku: 778.041961
dividend_declared_and_paid_common_oku: 7260.1426
dividend_declared_and_paid_preferred_oku: 286.782177
treasury_common_buyback_oku: 1680.712842
nci_open_oku: 9344.168914
nci_profit_oku: 1255.312172
nci_dividend_oku: 150.637461
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 235997.4179

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 235997.4179
非支配持分資本（億）: 10448.843626
consolidated_equity_oku: 246446.261525
現金（億）: 67855.826981
interest_bearing_debt_oku: 8370.811966
net_debt_oku: -59485.015016
ppe_plus_intangibles_oku: 147440.802476
common_issued_shares: 75078278
common_treasury_shares: 2554620
common_outstanding_shares: 72523658
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72141265.044105
old_cohort_pct_of_common_outstanding: 0.994727334963

dividend_paid_from_fiscal_year

2031

dividend_right_created_fiscal_year

2032

source_class

author_model_assumption_not_company_guidance

内容を開く

period

2033_full_year

状態

forecast_assumption_post_2026-11-06

開始日

2032-12-31

終了日

2033-12-31

start_days_from_2026-11-06

2247

end_days_from_2026-11-06

2612

period_fraction_365_25

0.999315537

opening

内容を開く

親会社持分（億）: 235997.4179
非支配持分資本（億）: 10448.843626
consolidated_equity_oku: 246446.261525
現金（億）: 67855.826981
interest_bearing_debt_oku: 8370.811966
net_debt_oku: -59485.015016
ppe_plus_intangibles_oku: 147440.802476
common_issued_shares: 75078278
common_treasury_shares: 2554620
common_outstanding_shares: 72523658
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72141265.044105
old_cohort_pct_of_common_outstanding: 0.994727334963

segments

component

sales_oku: 132813.009959
operating_margin_after_sbc_proxy: 0.245
営業利益（株式報酬控除後）: 32539.18744

package

sales_oku: 89389.910375
operating_margin_after_sbc_proxy: 0.201
営業利益（株式報酬控除後）: 17967.371985

optics

sales_oku: 51562.426526
operating_margin_after_sbc_proxy: 0.0586667
営業利益（株式報酬控除後）: 3024.99569

income

内容を開く

total_sales_oku: 273765.34686
unallocated_corporate_cost_oku: 4106.480203
営業利益（株式報酬控除後）: 49425.074912
sbc_expense_included_in_operating_profit_oku: 821.296041
interest_income_oku: 1152.759497
interest_expense_oku: 418.254123
other_nonoperating_oku: -1231.944061
profit_before_tax_oku: 48927.636226
income_tax_expense_oku: 11742.632694
consolidated_net_profit_oku: 37185.003532
nci_profit_oku: 1338.660127
parent_net_profit_after_sbc_oku: 35846.343404
depreciation_and_amortization_oku: 19711.104974

cashflow

内容を開く

operating_cashflow_proxy_oku: 56275.601893
capital_expenditure_cash_oku: 18342.27824
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 18342.27824
additional_growth_capex_oku: 0
working_capital_investment_oku: 1441.802653
free_cashflow_before_financing_oku: 37933.323654
dividend_cash_paid_common_oku: 7760.031406
dividend_cash_paid_preferred_oku: 306.757055
nci_cash_dividend_oku: 160.639215
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 1792.309247
net_debt_issuance_repayment_oku: -8370.811966
cash_identity_close_oku: 87398.601746

shares_and_holder

内容を開く

new_common_shares_from_sbc: 67710
sbc_issuance_date_assumed: 2033-06-30
sbc_grant_fair_value_price_proxy_krw: 1212962.14
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 147763
assumed_buyback_price_krw: 1212962.14
old_common_shares_tendered: 146846.79515493
proportional_tender_ratio: 0.99379949754
old_holder_cash_dividends_received_oku: 7719.11536
old_holder_buyback_cash_received_oku: 1781.196029
old_holder_total_cash_received_oku: 9500.311389
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 235997.4179
parent_profit_oku: 35846.343404
equity_settled_sbc_reserve_credit_oku: 821.296041
dividend_declared_and_paid_common_oku: 7760.031406
dividend_declared_and_paid_preferred_oku: 306.757055
treasury_common_buyback_oku: 1792.309247
nci_open_oku: 10448.843626
nci_profit_oku: 1338.660127
nci_dividend_oku: 160.639215
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 262805.959637

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 262805.959637
非支配持分資本（億）: 11626.864537
consolidated_equity_oku: 274432.824174
現金（億）: 87398.601746
interest_bearing_debt_oku: 0
net_debt_oku: -87398.601746
ppe_plus_intangibles_oku: 146071.975742
common_issued_shares: 75145988
common_treasury_shares: 2702383
common_outstanding_shares: 72443605
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71994418.24895
old_cohort_pct_of_common_outstanding: 0.99379949754

dividend_paid_from_fiscal_year

2032

dividend_right_created_fiscal_year

2033

source_class

author_model_assumption_not_company_guidance

内容を開く

period

2034_full_year

状態

forecast_assumption_post_2026-11-06

開始日

2033-12-31

終了日

2034-12-31

start_days_from_2026-11-06

2612

end_days_from_2026-11-06

2977

period_fraction_365_25

0.999315537

opening

内容を開く

親会社持分（億）: 262805.959637
非支配持分資本（億）: 11626.864537
consolidated_equity_oku: 274432.824174
現金（億）: 87398.601746
interest_bearing_debt_oku: 0
net_debt_oku: -87398.601746
ppe_plus_intangibles_oku: 146071.975742
common_issued_shares: 75145988
common_treasury_shares: 2702383
common_outstanding_shares: 72443605
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71994418.24895
old_cohort_pct_of_common_outstanding: 0.99379949754

segments

component

sales_oku: 139453.660457
operating_margin_after_sbc_proxy: 0.2413333
営業利益（株式報酬控除後）: 33654.816724

package

sales_oku: 95200.254549
operating_margin_after_sbc_proxy: 0.1983333
営業利益（株式報酬控除後）: 18881.383819

optics

sales_oku: 52593.675057
operating_margin_after_sbc_proxy: 0.0581111
営業利益（株式報酬控除後）: 3056.276895

income

内容を開く

total_sales_oku: 287247.590063
unallocated_corporate_cost_oku: 4308.713851
営業利益（株式報酬控除後）: 51283.763587
sbc_expense_included_in_operating_profit_oku: 861.74277
interest_income_oku: 1484.759271
interest_expense_oku: 0
other_nonoperating_oku: -1292.614155
profit_before_tax_oku: 51475.908703
income_tax_expense_oku: 12354.218089
consolidated_net_profit_oku: 39121.690614
nci_profit_oku: 1408.380862
parent_net_profit_after_sbc_oku: 37713.309752
depreciation_and_amortization_oku: 20681.826485

cashflow

内容を開く

operating_cashflow_proxy_oku: 59317.035548
capital_expenditure_cash_oku: 19245.588534
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 19245.588534
additional_growth_capex_oku: 0
working_capital_investment_oku: 1348.22432
free_cashflow_before_financing_oku: 40071.447014
dividend_cash_paid_common_oku: 8294.792773
dividend_cash_paid_preferred_oku: 328.15871
nci_cash_dividend_oku: 169.005703
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 1885.663968
net_debt_issuance_repayment_oku: 0
cash_identity_close_oku: 116792.427606

shares_and_holder

内容を開く

new_common_shares_from_sbc: 67985
sbc_issuance_date_assumed: 2034-06-30
sbc_grant_fair_value_price_proxy_krw: 1267545.436
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 148765
assumed_buyback_price_krw: 1267545.436
old_common_shares_tendered: 147703.9688525
proportional_tender_ratio: 0.992867736716
old_holder_cash_dividends_received_oku: 8243.36089
old_holder_buyback_cash_received_oku: 1872.214916
old_holder_total_cash_received_oku: 10115.575806
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 262805.959637
parent_profit_oku: 37713.309752
equity_settled_sbc_reserve_credit_oku: 861.74277
dividend_declared_and_paid_common_oku: 8294.792773
dividend_declared_and_paid_preferred_oku: 328.15871
treasury_common_buyback_oku: 1885.663968
nci_open_oku: 11626.864537
nci_profit_oku: 1408.380862
nci_dividend_oku: 169.005703
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 290872.396708

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 290872.396708
非支配持分資本（億）: 12866.239696
consolidated_equity_oku: 303738.636404
現金（億）: 116792.427606
interest_bearing_debt_oku: 0
net_debt_oku: -116792.427606
ppe_plus_intangibles_oku: 144635.737791
common_issued_shares: 75213973
common_treasury_shares: 2851148
common_outstanding_shares: 72362825
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71846714.280098
old_cohort_pct_of_common_outstanding: 0.992867736716

dividend_paid_from_fiscal_year

2033

dividend_right_created_fiscal_year

2034

source_class

author_model_assumption_not_company_guidance

内容を開く

period

2035_full_year

状態

forecast_assumption_post_2026-11-06

開始日

2034-12-31

終了日

2035-12-31

start_days_from_2026-11-06

2977

end_days_from_2026-11-06

3342

period_fraction_365_25

0.999315537

opening

内容を開く

親会社持分（億）: 290872.396708
非支配持分資本（億）: 12866.239696
consolidated_equity_oku: 303738.636404
現金（億）: 116792.427606
interest_bearing_debt_oku: 0
net_debt_oku: -116792.427606
ppe_plus_intangibles_oku: 144635.737791
common_issued_shares: 75213973
common_treasury_shares: 2851148
common_outstanding_shares: 72362825
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71846714.280098
old_cohort_pct_of_common_outstanding: 0.992867736716

segments

component

sales_oku: 145729.075178
operating_margin_after_sbc_proxy: 0.2376667
営業利益（株式報酬控除後）: 34634.943534

package

sales_oku: 100436.268549
operating_margin_after_sbc_proxy: 0.1956667
営業利益（株式報酬控除後）: 19652.029879

optics

sales_oku: 53645.548558
operating_margin_after_sbc_proxy: 0.0575556
営業利益（株式報酬控除後）: 3087.59935

income

内容を開く

total_sales_oku: 299810.892285
unallocated_corporate_cost_oku: 4497.163384
営業利益（株式報酬控除後）: 52877.409379
sbc_expense_included_in_operating_profit_oku: 899.432677
interest_income_oku: 1984.112288
interest_expense_oku: 0
other_nonoperating_oku: -1349.149015
profit_before_tax_oku: 53512.372652
income_tax_expense_oku: 12842.969437
consolidated_net_profit_oku: 40669.403216
nci_profit_oku: 1464.098516
parent_net_profit_after_sbc_oku: 39205.3047
depreciation_and_amortization_oku: 21586.384245

cashflow

内容を開く

operating_cashflow_proxy_oku: 61898.889915
capital_expenditure_cash_oku: 20087.329783
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 20087.329783
additional_growth_capex_oku: 0
working_capital_investment_oku: 1256.330222
free_cashflow_before_financing_oku: 41811.560132
dividend_cash_paid_common_oku: 8719.720413
dividend_cash_paid_preferred_oku: 345.280034
nci_cash_dividend_oku: 175.691822
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 1960.253313
net_debt_issuance_repayment_oku: 0
cash_identity_close_oku: 147403.042157

shares_and_holder

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new_common_shares_from_sbc: 67903
sbc_issuance_date_assumed: 2035-06-30
sbc_grant_fair_value_price_proxy_krw: 1324584.981
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 147990
assumed_buyback_price_krw: 1324584.981
old_common_shares_tendered: 146796.74690432
proportional_tender_ratio: 0.991936934282
old_holder_cash_dividends_received_oku: 8657.529071
old_holder_buyback_cash_received_oku: 1944.447662
old_holder_total_cash_received_oku: 10601.976733
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 290872.396708
parent_profit_oku: 39205.3047
equity_settled_sbc_reserve_credit_oku: 899.432677
dividend_declared_and_paid_common_oku: 8719.720413
dividend_declared_and_paid_preferred_oku: 345.280034
treasury_common_buyback_oku: 1960.253313
nci_open_oku: 12866.239696
nci_profit_oku: 1464.098516
nci_dividend_oku: 175.691822
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 319951.880325

issued_common_treasury_and_preferred_end

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親会社持分（億）: 319951.880325
非支配持分資本（億）: 14154.64639
consolidated_equity_oku: 334106.526715
現金（億）: 147403.042157
interest_bearing_debt_oku: 0
net_debt_oku: -147403.042157
ppe_plus_intangibles_oku: 143136.68333
common_issued_shares: 75281876
common_treasury_shares: 2999138
common_outstanding_shares: 72282738
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71699917.533193
old_cohort_pct_of_common_outstanding: 0.991936934282

dividend_paid_from_fiscal_year

2034

dividend_right_created_fiscal_year

2035

source_class

author_model_assumption_not_company_guidance

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period

2036_final_partial_01-01_to_11-06

状態

forecast_assumption_post_2026-11-06

開始日

2035-12-31

終了日

2036-11-06

start_days_from_2026-11-06

3342

end_days_from_2026-11-06

3653

period_fraction_365_25

0.851471595

opening

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親会社持分（億）: 319951.880325
非支配持分資本（億）: 14154.64639
consolidated_equity_oku: 334106.526715
現金（億）: 147403.042157
interest_bearing_debt_oku: 0
net_debt_oku: -147403.042157
ppe_plus_intangibles_oku: 143136.68333
common_issued_shares: 75281876
common_treasury_shares: 2999138
common_outstanding_shares: 72282738
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71699917.533193
old_cohort_pct_of_common_outstanding: 0.991936934282

segments

component

sales_oku: 128783.093103
operating_margin_after_sbc_proxy: 0.234
営業利益（株式報酬控除後）: 30135.243786

package

sales_oku: 89183.839063
operating_margin_after_sbc_proxy: 0.193
営業利益（株式報酬控除後）: 17212.480939

optics

sales_oku: 46495.740201
operating_margin_after_sbc_proxy: 0.057
営業利益（株式報酬控除後）: 2650.257191

income

内容を開く

total_sales_oku: 264462.672367
unallocated_corporate_cost_oku: 3966.940086
営業利益（株式報酬控除後）: 46031.041831
sbc_expense_included_in_operating_profit_oku: 793.388017
interest_income_oku: 2133.661558
interest_expense_oku: 0
other_nonoperating_oku: -1190.082026
profit_before_tax_oku: 46974.621363
income_tax_expense_oku: 11273.909127
consolidated_net_profit_oku: 35700.712236
nci_profit_oku: 1285.22564
parent_net_profit_after_sbc_oku: 34415.486595
depreciation_and_amortization_oku: 19041.31241

cashflow

内容を開く

operating_cashflow_proxy_oku: 54564.879717
capital_expenditure_cash_oku: 17718.999049
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 17718.999049
additional_growth_capex_oku: 0
working_capital_investment_oku: 970.532947
free_cashflow_before_financing_oku: 36845.880668
dividend_cash_paid_common_oku: 9035.34225
dividend_cash_paid_preferred_oku: 358.121027
nci_cash_dividend_oku: 154.227077
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 1720.771263
net_debt_issuance_repayment_oku: 0
cash_identity_close_oku: 172980.461208

shares_and_holder

内容を開く

new_common_shares_from_sbc: 57318
sbc_issuance_date_assumed: 2036-06-30
sbc_grant_fair_value_price_proxy_krw: 1384191.305
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 124316
assumed_buyback_price_krw: 1384191.305
old_common_shares_tendered: 123215.9254626
proportional_tender_ratio: 0.991150981874
old_holder_cash_dividends_received_oku: 8962.489692
old_holder_buyback_cash_received_oku: 1705.544127
old_holder_total_cash_received_oku: 10668.033818
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 319951.880325
parent_profit_oku: 34415.486595
equity_settled_sbc_reserve_credit_oku: 793.388017
dividend_declared_and_paid_common_oku: 9035.34225
dividend_declared_and_paid_preferred_oku: 358.121027
treasury_common_buyback_oku: 1720.771263
nci_open_oku: 14154.64639
nci_profit_oku: 1285.22564
nci_dividend_oku: 154.227077
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 344046.520398

issued_common_treasury_and_preferred_end

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親会社持分（億）: 344046.520398
非支配持分資本（億）: 15285.644954
consolidated_equity_oku: 359332.165352
現金（億）: 172980.461208
interest_bearing_debt_oku: 0
net_debt_oku: -172980.461208
ppe_plus_intangibles_oku: 141814.369968
common_issued_shares: 75339194
common_treasury_shares: 3123454
common_outstanding_shares: 72215740
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71576701.607731
old_cohort_pct_of_common_outstanding: 0.991150981874

dividend_paid_from_fiscal_year

2035

dividend_right_created_fiscal_year

未確認

source_class

author_model_assumption_not_company_guidance

forecast_period_count

horizons_y10

内容を開く

キャッシュフローの算出方法

timed_holder_cashflows_v1

initial_investment_oku

632435.1552

old_holder_at_start_common_shares

72693696

valuation_date

2026-11-06

終価の基準日

2036-11-06

terminal_year

10.0013689254

日付別キャッシュフロー

内容を開く

想定日: 2026-12-29
year: 0.1451060917
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2026
common_dps_krw: 4800
preferred_dps_krw: 4850
record_date: 2026-12-31
scheduled_payment_date_assumed: 2027-04-19
preferred_cash_not_attributable_to_old_common_oku: 138.397369
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2027-04-19
year: 0.4490075291
金額: 3489.297408
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2026
dps_krw: 4800
ex_date: 2026-12-29
record_date: 2026-12-31
declaration_date_assumed: 2027-03-15
record_common_shares: 72693696
old_cohort_record_shares: 72693696
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

内容を開く

想定日: 2027-06-30
year: 0.6461327858
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 66725
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 931428.46

内容を開く

想定日: 2027-12-29
year: 1.144421629
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2027
common_dps_krw: 6900
preferred_dps_krw: 6950
record_date: 2027-12-31
scheduled_payment_date_assumed: 2028-04-17
preferred_cash_not_attributable_to_old_common_oku: 198.322003
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2028-04-17
year: 1.4455852156
金額: 5015.865024
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2027
dps_krw: 6900
ex_date: 2027-12-29
record_date: 2027-12-31
declaration_date_assumed: 2028-03-15
record_common_shares: 72760421
old_cohort_record_shares: 72693696
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

内容を開く

想定日: 2028-06-30
year: 1.6481861739
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 58420
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 973342.74

内容を開く

想定日: 2028-12-29
year: 2.1464750171
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2028
common_dps_krw: 7800
preferred_dps_krw: 7850
record_date: 2028-12-31
scheduled_payment_date_assumed: 2029-04-17
preferred_cash_not_attributable_to_old_common_oku: 224.003989
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2029-04-17
year: 2.4449007529
金額: 5670.108288
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2028
dps_krw: 7800
ex_date: 2028-12-29
record_date: 2028-12-31
declaration_date_assumed: 2029-03-15
record_common_shares: 72818841
old_cohort_record_shares: 72693696
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

内容を開く

想定日: 2029-06-30
year: 2.6475017112
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 61936
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1017143.16

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想定日: 2029-10-15
year: 2.9404517454
金額: 1333.348958
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1336.7804
issuer_shares_bought: 131425
old_cohort_shares_tendered: 131087.63915621
ownership_fraction_at_tender: 0.997433054261
repurchase_price_krw: 1017143.162

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想定日: 2029-12-28
year: 3.1430527036
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2029
common_dps_krw: 8500
preferred_dps_krw: 8550
record_date: 2029-12-31
scheduled_payment_date_assumed: 2030-04-17
preferred_cash_not_attributable_to_old_common_oku: 243.978867
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2030-04-17
year: 3.4442162902
金額: 6167.821711
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2029
dps_krw: 8500
ex_date: 2029-12-28
record_date: 2029-12-31
declaration_date_assumed: 2030-03-15
record_common_shares: 72749352
old_cohort_record_shares: 72562608.360844
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

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想定日: 2030-06-30
year: 3.6468172485
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 64440
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1062914.6

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想定日: 2030-10-15
year: 3.9397672827
金額: 1452.038204
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1457.064598
issuer_shares_bought: 137082
old_cohort_shares_tendered: 136609.11217646
ownership_fraction_at_tender: 0.996550328828
repurchase_price_krw: 1062914.604

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想定日: 2030-12-27
year: 4.1396303901
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2030
common_dps_krw: 9250
preferred_dps_krw: 9300
record_date: 2030-12-31
scheduled_payment_date_assumed: 2031-04-17
preferred_cash_not_attributable_to_old_common_oku: 265.380522
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2031-04-17
year: 4.4435318275
金額: 6699.404931
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2030
dps_krw: 9250
ex_date: 2030-12-27
record_date: 2030-12-31
declaration_date_assumed: 2031-03-17
record_common_shares: 72676710
old_cohort_record_shares: 72425999.248667
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

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想定日: 2031-06-30
year: 4.6461327858
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 66031
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1110745.76

内容を開く

想定日: 2031-10-15
year: 4.93908282
金額: 1562.815686
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1569.650373
issuer_shares_bought: 141315
old_cohort_shares_tendered: 140699.6759144
ownership_fraction_at_tender: 0.995645727024
repurchase_price_krw: 1110745.761

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想定日: 2031-12-29
year: 5.144421629
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2031
common_dps_krw: 10000
preferred_dps_krw: 10050
record_date: 2031-12-31
scheduled_payment_date_assumed: 2032-04-19
preferred_cash_not_attributable_to_old_common_oku: 286.782177
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2032-04-19
year: 5.4510609172
金額: 7228.529957
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2031
dps_krw: 10000
ex_date: 2031-12-29
record_date: 2031-12-31
declaration_date_assumed: 2032-03-15
record_common_shares: 72601426
old_cohort_record_shares: 72285299.572753
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

内容を開く

想定日: 2032-06-30
year: 5.6481861739
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 67030
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1160729.32

内容を開く

想定日: 2032-10-15
year: 5.9411362081
金額: 1671.851006
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1680.712842
issuer_shares_bought: 144798
old_cohort_shares_tendered: 144034.52864797
ownership_fraction_at_tender: 0.994727334963
repurchase_price_krw: 1160729.321

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想定日: 2032-12-29
year: 6.1464750171
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2032
common_dps_krw: 10700
preferred_dps_krw: 10750
record_date: 2032-12-31
scheduled_payment_date_assumed: 2033-04-18
preferred_cash_not_attributable_to_old_common_oku: 306.757055
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2033-04-18
year: 6.4476386037
金額: 7719.11536
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2032
dps_krw: 10700
ex_date: 2032-12-29
record_date: 2032-12-31
declaration_date_assumed: 2033-03-15
record_common_shares: 72523658
old_cohort_record_shares: 72141265.044105
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

内容を開く

想定日: 2033-06-30
year: 6.6475017112
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 67710
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1212962.14

内容を開く

想定日: 2033-10-17
year: 6.945927447
金額: 1781.196029
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1792.309247
issuer_shares_bought: 147763
old_cohort_shares_tendered: 146846.79515493
ownership_fraction_at_tender: 0.99379949754
repurchase_price_krw: 1212962.14

内容を開く

想定日: 2033-12-29
year: 7.1457905544
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2033
common_dps_krw: 11450
preferred_dps_krw: 11500
record_date: 2033-12-31
scheduled_payment_date_assumed: 2034-04-17
preferred_cash_not_attributable_to_old_common_oku: 328.15871
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2034-04-17
year: 7.4442162902
金額: 8243.36089
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2033
dps_krw: 11450
ex_date: 2033-12-29
record_date: 2033-12-31
declaration_date_assumed: 2034-03-15
record_common_shares: 72443605
old_cohort_record_shares: 71994418.24895
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

内容を開く

想定日: 2034-06-30
year: 7.6468172485
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 67985
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1267545.44

内容を開く

想定日: 2034-10-16
year: 7.9425051335
金額: 1872.214916
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1885.663968
issuer_shares_bought: 148765
old_cohort_shares_tendered: 147703.9688525
ownership_fraction_at_tender: 0.992867736716
repurchase_price_krw: 1267545.436

内容を開く

想定日: 2034-12-29
year: 8.1451060917
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2034
common_dps_krw: 12050
preferred_dps_krw: 12100
record_date: 2034-12-31
scheduled_payment_date_assumed: 2035-04-17
preferred_cash_not_attributable_to_old_common_oku: 345.280034
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2035-04-17
year: 8.4435318275
金額: 8657.529071
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2034
dps_krw: 12050
ex_date: 2034-12-29
record_date: 2034-12-31
declaration_date_assumed: 2035-03-15
record_common_shares: 72362825
old_cohort_record_shares: 71846714.280098
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

内容を開く

想定日: 2035-06-30
year: 8.6461327858
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 67903
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1324584.98

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想定日: 2035-10-15
year: 8.93908282
金額: 1944.447662
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1960.253313
issuer_shares_bought: 147990
old_cohort_shares_tendered: 146796.74690432
ownership_fraction_at_tender: 0.991936934282
repurchase_price_krw: 1324584.981

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想定日: 2035-12-28
year: 9.1416837782
金額: 0
種類: dividend_ex_rights_no_cash
date_status: forecast_assumption
fiscal_year: 2035
common_dps_krw: 12500
preferred_dps_krw: 12550
record_date: 2035-12-31
scheduled_payment_date_assumed: 2036-04-17
preferred_cash_not_attributable_to_old_common_oku: 358.121027
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2036-04-17
year: 9.4455852156
金額: 8962.489692
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2035
dps_krw: 12500
ex_date: 2035-12-28
record_date: 2035-12-31
declaration_date_assumed: 2036-03-17
record_common_shares: 72282738
old_cohort_record_shares: 71699917.533193
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

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想定日: 2036-06-30
year: 9.6481861739
金額: 0
種類: noncash_sbc_common_issuance
date_status: forecast_assumption
common_new_shares: 57318
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1384191.31

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想定日: 2036-10-15
year: 9.9411362081
金額: 1705.544127
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 1720.771263
issuer_shares_bought: 124316
old_cohort_shares_tendered: 123215.9254626
ownership_fraction_at_tender: 0.991150981874
repurchase_price_krw: 1384191.305

期間内株主受取

81176.97892

終価

629983.730901

company_all_common_terminal_equity_oku

635608.239736

company_preferred_terminal_equity_oku

25131.464092

company_parent_total_terminal_equity_oku

660739.703827

holder_ownership_ratio_terminal_common

0.991150981874

irr

0.012419123749

pv_holder_dividends_buybacks_oku_at_scenario_cost_equity

45107.385234

pv_holder_terminal_oku_at_scenario_cost_equity

212087.925668

pv_old_holder_total_oku_at_scenario_cost_equity

257195.310902

estimated_fair_value_krw_per_initial_common_share

353806.898

estimated_fair_value_to_price_ratio

0.4066746

terminal_cashflow_method

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方法

2037_steady_state_FCFF_at_WACC_less_g_with_share_neutral_SBC_and_no_terminal_PE

2037_consolidated_sales_oku

319013.413307

2037_operating_profit_after_sbc_oku

55525.86927

2037_segment_operating_profits_oku

component: 36351.243429
package: 20762.901043
optics: 3196.925998

2037_corporate_overhead_oku

4785.2012

2037_sbc_expense_already_in_operating_profit_oku

957.04024

2037_nopat_after_sbc_oku

42199.660645

2037_non_cash_sbc_added_back_once_oku

957.04024

2037_normalized_after_tax_operating_return_plus_SBC_oku

43156.700885

2037_incremental_ron_ic

0.18

2037_growth_reinvestment_oku

5993.986234

2037_forecast_share_awards_units

66163

2037_forecast_share_neutral_market_repurchase_units

66163

2037_assumed_market_price_for_share_neutralization_krw

1446479.914

2037_share_neutral_repurchase_cash_oku

957.034505

2037_sustainable_after_SBC_neutralization_FCFF_oku

36205.680146

wacc

0.091

perpetuity_g

0.025

terminal_enterprise_value_oku

548570.911299

terminal_gross_debt_oku

terminal_cash_oku

172980.461208

terminal_required_operating_cash_oku

31123.259835

terminal_excess_cash_added_oku

141857.201373

terminal_equity_before_NCI_oku

690428.112672

terminal_NCI_fair_value_share_assumed

0.043

terminal_NCI_fair_value_oku

29688.408845

terminal_parent_equity_value_including_common_and_preferred_oku

660739.703827

preferred_50KRW_extra_dividend_perpetuity_oku

15.853078

2036_11_06_common_equity_value_oku

635608.239736

2036_11_06_preferred_equity_value_oku

25131.464092

2036_11_06_old_cohort_equity_oku

629983.730901

no_double_count_explanation

Operating profit and parent profit keep SBC expense. During 2027-2036 explicit forecasts: add noncash SBC to cash and record issuance dilution once. From 2037 FCFF adds back SBC then deducts full market-cost cash to repurchase exactly predicted future award shares, holding post-terminal common share count constant; no further dilution charged. Preferenced shares and NCI are removed from old common value once.

endpoint

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親会社持分（億）: 344046.520398
非支配持分資本（億）: 15285.644954
consolidated_equity_oku: 359332.165352
現金（億）: 172980.461208
interest_bearing_debt_oku: 0
net_debt_oku: -172980.461208
ppe_plus_intangibles_oku: 141814.369968
common_issued_shares: 75339194
common_treasury_shares: 3123454
common_outstanding_shares: 72215740
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71576701.607731
old_cohort_pct_of_common_outstanding: 0.991150981874

source_class

independent_scenario_model_not_company_projection

キャッシュフローの算出方法

timed_holder_cashflows_v1

期間内株主受取

81176.97892

終価

629983.730901

irr

0.012419123749

強気（確率 20.0%）

事業別の売上と利益率、設備投資、普通株と優先株の配分、株式報酬を仮定して、旧普通株主の配当・買戻しと残存価値を試算。

このシナリオの数値・キャッシュフローを開く →

最良（確率 10.0%）

事業別の売上と利益率、設備投資、普通株と優先株の配分、株式報酬を仮定して、旧普通株主の配当・買戻しと残存価値を試算。

このシナリオの数値・キャッシュフローを開く →

事業の詳細

model: manufactures passive component MLCC, high-density FCBGA semiconductor packages, optical camera modules
moat_ja: MLCC小型大容量・耐熱とADAS品質、FCBGA微細配線・大面積歩留りに技術優位。新工場は顧客長期契約で支えるが数量保証・支援入金額は未検証。
customers: Samsung Electronics and consolidated subsidiaries approximately 26% of H1 reported sales (secondary transcription); others unnamed global Big Tech and automotive customers; concentration risks.
price_volume_mix: segment sales known but unit ASP, units, and operating profit by segment not disclosed: forecast growth and margins are analyst judgment, not official disclosures.
sbc_rule: P&L operating profit and parent profit already net of SBC; CFO addback and shares dilution explicitly recorded; 2026 Q4 accrual vests 2027 rather than disappearing, with 2037 perpetual awards share-neutralized through cash market repurchase

競争力の詳細

financial_2026q3_status

preliminary company issued 2026-10-28 pre-external review

reported_last_2026_q3

内容を開く

currency: KRW
単位: oku KRW
sales: 37633
operating_profit: 6910
pbt: 6097
tax_expense: 1247
consolidated_net_profit: 4850
parent_profit: 4687
nci_profit_derived: 163
assets: 170612
debt: 34263
cash: 41137
equity_total: 104988
quarter_capex_intangible_tangible: 8627

reported_2026_h1_derived_secondary

内容を開く

親会社持分（億）: 102305.79
非支配持分資本（億）: 2985.63
consolidated_total_oku: 105291.42
出典: secondary reproducing 2026-08-14 DART report; direct DART unavailable

2026q3_nci_and_parent_equity_proxy

内容を開く

非支配持分（億）: 3148.63
parent_oku: 101839.37
q3_oci_and_other_to_reconcile_oku: -5153.42
方法: Q2 NCI+Q3 reported consolidated less parent profit; all Q3 OCI and other equity movement forced to parent as residual; inherently uncertain

q3_earnings_after_sbc

reported K-IFRS parent result; no additional SBC deduction

nine_months_exact_through_q3_2026

内容を開く

sales_oku: 104295.96
営業利益（億）: 14118.99
pbt_oku: 13593.93
income_tax_oku_derived: 2933.7
consolidated_profit_oku: 10660.23
parent_profit_oku: 10335.3
状態: KRX fair-disclosure cumulative numbers from 2026-10-28 primary filing, reproduced by filings archive; Q1-Q3 component sums are rounded IR deck numbers

2026Q3_parent_return_on_equity_LTM_proxy

未確認

業界の詳細

cycles

smartphone handset seasonality and inventory cycles; AI capex availability, FC-BGA yield and MLCC capacity; autos and EV ADAS slower smoothing demand

technologies

内容を開く

1: AI server MLCC
2: advanced FCBGA substrates
3: automotive MLCC
4: camera modules
5: Glasssem glass cores

competitors

内容を開く

1: Murata
2: Taiyo Yuden
3: Yageo
4: Ibiden
5: Unimicron
6: Nan Ya PCB
7: LG Innotek

risks

内容を開く

1: price pressure on mature MLCC and handset cameras
2: geopolitical customer and supply-chain concentration
3: capex and inventory overbuild
4: overestimation of Big Tech funding and 2032 contracted volume

non_disclosed

内容を開く

1: division EBIT/margin
2: MLCC AI revenue and product ASP/volume
3: FCBGA long term contract prices/units
4: specific Big Tech revenue concentration
5: SBC award level in 2026 after accounting cutoffs

財務・資本配分の詳細

historical_shares_as_of_proxy

2025-12-31 issuer formal annual report, assumed unchanged to 2026-11-06 pending definitive H1 share check

ordinary_outstanding_basis

72693696

preferred_outstanding

2853554

preferred_rights

nonvoting preferred, 2025 annual cash DPS KRW50 above ordinary; modeled equally residual participation and preference annuity, no terminal listed preferred market price regression

dividend_history

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fiscal_year: 2025
common_krw: 2350
preferred_krw: 2400
ex_date: 2025-12-29
pay_date: 2026-04-17
状態: paid_before_cutoff_excluded

future_dividend_policy

company states ~20% or more payout subject to capex and cashflow; scenario ratio forecast, never newly resolved on as_of

authorized_future_repurchases_as_of_date

未確認

share_treasury_policy

old cohort only ordinary outstanding; hypothetical buybacks are held in treasury, no future cancellations; no company cash represented by SBC dilution; no secondary trust purchases modeled

commitment_FCBGA_capex_oku

内容を開く

sejong

42700

vietnam

25100

total

67800

allocation_forecast

内容を開く

2027

sejong: 3500
vietnam: 1000

2028

sejong: 24000
vietnam: 7000

2029

sejong: 15200
vietnam: 10000

2030

sejong: 0
vietnam: 6000

2031

sejong: 0
vietnam: 1100

customer_cash_support_disclosed_without_amount

zero contract advances included in core case, avoid free-money double count

jv_2026_11_05

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total_subscription_oku: 3191
issuer_parent_cash_oku: 2391
issuer_parent_in_kind_oku: 800
ownership_pct: 0.662
partner_subscription_oku_inferred: 1630
consolidation_assumption: partner 1630 oku recognized as external NCI equity and consolidated cash before cutoff; parent 2391 internal cash transfer and 800 in-kind have zero group cash effect; if non-cash or consolidation delayed this bridge changes
put_call_options: deadlock call/put after 5 years; fair values unquantified not booked in projection

equity_accounting

parent book equity=P0+parent NI after SBC+SBC reserve credit-common/pref declared dividend-common buyback+OCI; NCI independently retained

評価根拠の詳細

current_common_price_krw

870000

year_2025_parent_profit_oku

7061

TTM_parent_profit_2025Q4_to_2026Q3_oku

12564

TTM_ordinary_plus_preferred_EPS_KRW

16630.652

spot_TTM_PE_indicator_only_not_terminal_used

52.313

terminal_formula

not_used

1: current market P/E terminal target
2: analyst price target
3: future stock quote to determine terminal market cap

scenario_fair_value_krw_per_initial_share

内容を開く

very_bearish: 8223.095
bearish: 85680.465
neutral: 353806.898
bullish: 867906.683
very_bullish: 1938391.23

disputed_desktop_894000_quote_sensitivity_only

内容を開く

alternative_price_krw

894000

price_not_used_in_basis

はい

alternative_initial_ordinary_common_market_value_oku

649881.64224

case_IRR_at_alternative_buy_price_no_operating_changes

内容を開く

very_bearish: -0.492131540799
bearish: -0.12274907982
neutral: 0.009520902178
bullish: 0.097514810246
very_bullish: 0.190887637349

weighted_mean_of_alternative_price_case_IRRs

-0.031362883389

説明

分析基準とデータ

価格・単価: 870000
単価の単位: KRW per ordinary common share
株価の出所: 会社IRの日付別株価表で2026-11-06終値870,000 KRWを確認。11月8日付の現在値894,000は異なる時点。KRX原票の直接取得は未完了。
price_status: 2026-11-06 observed company primary historical price; KRX direct independently unverified
株数: 72693696
shares_definition: initial non-treasury ordinary common shares only, not preferred shares; entire opening cohort
終価: 632435.1552
initial_ordinary_common_holder_cohort_market_value_oku: 632435.1552
issued_common_shares: 74693696
treasury_common_shares: 2000000
issued_preferred_shares: 2906984
treasury_preferred_shares: 53430
preferred_outstanding_shares: 2853554
preferred_2026_11_06_price_krw_secondary: 315500
equity_class_holders: all opening ordinary common holders are assumed to buy at close; listed nonvoting preferred shareholders are excluded

追加データ・検証記録

分析ごとに収録された追加の前提、年度別データ、検証上の注意を確認できます。

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分析に使用した資料

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