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。

このシナリオの数値・キャッシュフローを開く →

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。

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: 5500
preferred_dps_krw: 5550
record_date: 2026-12-31
scheduled_payment_date_assumed: 2027-04-19
preferred_cash_not_attributable_to_old_common_oku: 158.372247
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2027-04-19
year: 0.4490075291
金額: 3998.15328
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2026
dps_krw: 5500
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: 71059
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1008504.67

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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: 9400
preferred_dps_krw: 9450
record_date: 2027-12-31
scheduled_payment_date_assumed: 2028-04-17
preferred_cash_not_attributable_to_old_common_oku: 269.660853
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2028-04-17
year: 1.4455852156
金額: 6833.207424
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2027
dps_krw: 9400
record_date: 2027-12-31
declaration_date_assumed: 2028-03-15
record_common_shares: 72764755
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: 62195
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1109355.14

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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: 11250
preferred_dps_krw: 11300
record_date: 2028-12-31
scheduled_payment_date_assumed: 2029-04-17
preferred_cash_not_attributable_to_old_common_oku: 322.451602
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2029-04-17
year: 2.4449007529
金額: 8178.0408
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2028
dps_krw: 11250
record_date: 2028-12-31
declaration_date_assumed: 2029-03-15
record_common_shares: 72826950
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: 65513
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1220290.65

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想定日: 2029-10-15
year: 2.9404517454
金額: 4931.183163
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 4944.66654
issuer_shares_bought: 405204
old_cohort_shares_tendered: 404099.06843159
ownership_fraction_at_tender: 0.997273147431
repurchase_price_krw: 1220290.654

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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: 13150
preferred_dps_krw: 13200
record_date: 2029-12-31
scheduled_payment_date_assumed: 2030-04-17
preferred_cash_not_attributable_to_old_common_oku: 376.669128
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2030-04-17
year: 3.4442162902
金額: 9506.081997
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2029
dps_krw: 13150
record_date: 2029-12-31
declaration_date_assumed: 2030-03-15
record_common_shares: 72487259
old_cohort_record_shares: 72289596.931568
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: 67107
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1342319.72

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想定日: 2030-10-15
year: 3.9397672827
金額: 5612.354566
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 5632.910468
issuer_shares_bought: 419640
old_cohort_shares_tendered: 418108.62845061
ownership_fraction_at_tender: 0.996350749334
repurchase_price_krw: 1342319.719

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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: 15000
preferred_dps_krw: 15050
record_date: 2030-12-31
scheduled_payment_date_assumed: 2031-04-17
preferred_cash_not_attributable_to_old_common_oku: 429.459877
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2031-04-17
year: 4.4435318275
金額: 10780.723245
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2030
dps_krw: 15000
record_date: 2030-12-31
declaration_date_assumed: 2031-03-17
record_common_shares: 72134726
old_cohort_record_shares: 71871488.303118
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: 67400
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1476551.69

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想定日: 2031-10-15
year: 4.93908282
金額: 6267.97853
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 6296.813747
issuer_shares_bought: 426454
old_cohort_shares_tendered: 424501.1244242
ownership_fraction_at_tender: 0.995420665357
repurchase_price_krw: 1476551.691

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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: 16850
preferred_dps_krw: 16900
record_date: 2031-12-31
scheduled_payment_date_assumed: 2032-04-19
preferred_cash_not_attributable_to_old_common_oku: 482.250626
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2032-04-19
year: 5.4510609172
金額: 12038.81734
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2031
dps_krw: 16850
record_date: 2031-12-31
declaration_date_assumed: 2032-03-15
record_common_shares: 71775672
old_cohort_record_shares: 71446987.178694
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: 66747
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1624206.86

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想定日: 2032-10-15
year: 5.9411362081
金額: 6908.206097
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 6946.440382
issuer_shares_bought: 427682
old_cohort_shares_tendered: 425327.9719125
ownership_fraction_at_tender: 0.994495844839
repurchase_price_krw: 1624206.86

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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: 18700
preferred_dps_krw: 18750
record_date: 2032-12-31
scheduled_payment_date_assumed: 2033-04-18
preferred_cash_not_attributable_to_old_common_oku: 535.041375
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2033-04-18
year: 6.4476386037
金額: 13281.050272
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2032
dps_krw: 18700
record_date: 2032-12-31
declaration_date_assumed: 2033-03-15
record_common_shares: 71414737
old_cohort_record_shares: 71021659.206781
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding
ex_date_model_context: 2032-12-29

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: 65369
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1786627.55

内容を開く

想定日: 2033-10-17
year: 6.945927447
金額: 7527.19493
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 7575.783184
issuer_shares_bought: 424027
old_cohort_shares_tendered: 421307.44865535
ownership_fraction_at_tender: 0.993586372225
repurchase_price_krw: 1786627.546

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: 20500
preferred_dps_krw: 20550
record_date: 2033-12-31
scheduled_payment_date_assumed: 2034-04-17
preferred_cash_not_attributable_to_old_common_oku: 586.405347
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2034-04-17
year: 7.4442162902
金額: 14473.07211
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2033
dps_krw: 20500
record_date: 2033-12-31
declaration_date_assumed: 2034-03-15
record_common_shares: 71056079
old_cohort_record_shares: 70600351.758126
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: 63391
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1965290.3

内容を開く

想定日: 2034-10-16
year: 7.9425051335
金額: 8046.84894
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 8106.01672
issuer_shares_bought: 412459
old_cohort_shares_tendered: 409448.36183122
ownership_fraction_at_tender: 0.992700757727
repurchase_price_krw: 1965290.3

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: 22050
preferred_dps_krw: 22100
record_date: 2034-12-31
scheduled_payment_date_assumed: 2035-04-17
preferred_cash_not_attributable_to_old_common_oku: 630.635434
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2035-04-17
year: 8.4435318275
金額: 15477.094199
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2034
dps_krw: 22050
record_date: 2034-12-31
declaration_date_assumed: 2035-03-15
record_common_shares: 70707011
old_cohort_record_shares: 70190903.396295
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: 61004
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 2161819.33

内容を開く

想定日: 2035-10-15
year: 8.93908282
金額: 8525.234086
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 8595.328803
issuer_shares_bought: 397597
old_cohort_shares_tendered: 394354.60522182
ownership_fraction_at_tender: 0.991845022024
repurchase_price_krw: 2161819.33

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: 23500
preferred_dps_krw: 23550
record_date: 2035-12-31
scheduled_payment_date_assumed: 2036-04-17
preferred_cash_not_attributable_to_old_common_oku: 672.011967
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2036-04-17
year: 9.4455852156
金額: 16402.188966
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2035
dps_krw: 23500
record_date: 2035-12-31
declaration_date_assumed: 2036-03-17
record_common_shares: 70370418
old_cohort_record_shares: 69796548.791073
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: 49570
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 2378001.26

内容を開く

想定日: 2036-10-15
year: 9.9411362081
金額: 7626.566639
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 7694.688928
issuer_shares_bought: 323578
old_cohort_shares_tendered: 320713.31316781
ownership_fraction_at_tender: 0.991146843011
repurchase_price_krw: 2378001.264

その他の数値・前提

scenario

bullish

label_ja

強気

parameters

内容を開く

q4_revenue

1: 21500
2: 11200
3: 10400

q4_margins

1: 0.31
2: 0.23
3: 0.055

q4_overhead_rate

0.02

growth_c

内容を開く

1: 0.23
2: 0.19
3: 0.155
4: 0.125
5: 0.105
6: 0.085
7: 0.075
8: 0.065
9: 0.055
10: 0.05

growth_p

内容を開く

1: 0.39
2: 0.31
3: 0.24
4: 0.18
5: 0.14
6: 0.12
7: 0.1
8: 0.085
9: 0.075
10: 0.065

growth_o

内容を開く

1: 0.08
2: 0.065
3: 0.055
4: 0.045
5: 0.04
6: 0.04
7: 0.035
8: 0.03
9: 0.03
10: 0.025

margins_2027

1: 0.3
2: 0.255
3: 0.075

margins_2036

1: 0.279
2: 0.238
3: 0.075

overhead

0.013

税率

23.50%

nci_income_share

0.035

nci_fair_share

0.04

other_nonop

0.0035

cash_interest

0.018

debt_interest

0.047

depreciation_rate

0.071

sbc_rate

0.0032

working_capital_rate

0.095

capex_maint_rate

0.068

extra_capex

内容を開く

2028: 13000
2029: 9500
2030: 5700
2031: 2200
2027: 1200

dividend_ratio

0.25

buyback_ratio

0.125

annual_share_price_drift

0.1

wacc

0.08

cost_equity

0.101

g_terminal

0.031

ron_ic_terminal

0.22

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: 8646.73913
operating_margin_after_sbc_proxy: 0.31
営業利益（株式報酬控除後）: 2680.48913

package

sales_oku: 4504.347826
operating_margin_after_sbc_proxy: 0.23
営業利益（株式報酬控除後）: 1036

optics

sales_oku: 4182.608696
operating_margin_after_sbc_proxy: 0.055
営業利益（株式報酬控除後）: 230.043478

income

内容を開く

total_sales_oku: 17333.695652
unallocated_corporate_cost_oku: 346.673913
営業利益（株式報酬控除後）: 3599.858696
sbc_expense_included_in_operating_profit_oku: 55.467826
interest_income_oku: 75.009561
interest_expense_oku: 163.130341
other_nonoperating_oku: -60.667935
profit_before_tax_oku: 3451.069981
income_tax_expense_oku: 811.001445
consolidated_net_profit_oku: 2640.068535
nci_profit_oku: 92.402399
parent_net_profit_after_sbc_oku: 2547.666136
depreciation_and_amortization_oku: 1230.692391

cashflow

内容を開く

operating_cashflow_proxy_oku: 3627.207622
capital_expenditure_cash_oku: 3471.082609
committed_FCBGA_project_capex_within_total_oku: 1809.782609
maintenance_capex_proxy_oku: 1178.691304
additional_growth_capex_oku: 482.608696
working_capital_investment_oku: 299.02113
free_cashflow_before_financing_oku: 156.125013
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: -5351.006256
cash_identity_close_oku: 37572.118757

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: 2547.666136
equity_settled_sbc_reserve_credit_oku: 55.467826
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: 92.402399
nci_dividend_oku: 0
external_nci_cash_capital_oku: 1630
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 104442.503963

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 104442.503963
非支配持分資本（億）: 4871.032399
consolidated_equity_oku: 109313.536361
現金（億）: 37572.118757
interest_bearing_debt_oku: 28911.993744
net_debt_oku: -8660.125013
ppe_plus_intangibles_oku: 72675.390217
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）: 104442.503963
非支配持分資本（億）: 4871.032399
consolidated_equity_oku: 109313.536361
現金（億）: 37572.118757
interest_bearing_debt_oku: 28911.993744
net_debt_oku: -8660.125013
ppe_plus_intangibles_oku: 72675.390217
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: 70909
package: 35556
optics: 40931

q4_full_year_scenario_sales_oku

component: 21500
package: 11200
optics: 10400

full_year_sales_oku

147396

q4_operating_profit_oku

8951

full_year_pretax_oku

22203.247273

full_year_income_tax_expense_oku

4959.173109

full_year_consolidated_net_profit_oku

17246.074163

full_year_nci_profit_oku

554.512596

full_year_operating_profit_oku

23071

full_year_parent_net_profit_after_sbc_oku

16691.561567

forecast_2026_annual_common_dps_paid_in_2027_krw

5500

dividend_status

forecast_not_declared_as_of_cutoff

2028

内容を開く

year

2027

状態

forecast

annual_revenue_oku

180846.39

annual_segment_sales_oku

component: 87218.07
package: 49422.84
optics: 44205.48

annual_ebit_after_sbc_oku

39732.65313

annual_parent_profit_after_sbc_oku

28429.600768

2029

内容を開く

year

2028

状態

forecast

annual_revenue_oku

215612.2599

annual_segment_sales_oku

component: 103789.5033
package: 64743.9204
optics: 47078.8362

annual_ebit_after_sbc_oku

48010.034449

annual_parent_profit_after_sbc_oku

34081.248162

2030

内容を開く

year

2029

状態

forecast

annual_revenue_oku

249827.509798

annual_segment_sales_oku

component: 119876.876311
package: 80282.461296
optics: 49668.172191

annual_ebit_after_sbc_oku

56049.73109

annual_parent_profit_after_sbc_oku

39557.355751

2031

内容を開く

year

2030

状態

forecast

annual_revenue_oku

281498.030119

annual_segment_sales_oku

component: 134861.48585
package: 94733.304329
optics: 51903.23994

annual_ebit_after_sbc_oku

63367.854504

annual_parent_profit_after_sbc_oku

45063.298399

2032

内容を開く

year

2031

状態

forecast

annual_revenue_oku

310997.278337

annual_segment_sales_oku

component: 149021.941865
package: 107995.966935
optics: 53979.369537

annual_ebit_after_sbc_oku

70044.201239

annual_parent_profit_after_sbc_oku

50374.514209

2033

内容を開く

year

2032

状態

forecast

annual_revenue_oku

338782.83421

annual_segment_sales_oku

component: 161688.806923
package: 120955.482968
optics: 56138.544319

annual_ebit_after_sbc_oku

76127.77746

annual_parent_profit_after_sbc_oku

55571.645045

2034

内容を開く

year

2033

状態

forecast

annual_revenue_oku

364969.892077

annual_segment_sales_oku

component: 173815.467442
package: 133051.031264
optics: 58103.39337

annual_ebit_after_sbc_oku

81744.470879

annual_parent_profit_after_sbc_oku

60606.29029

2035

内容を開く

year

2034

状態

forecast

annual_revenue_oku

389320.336919

annual_segment_sales_oku

component: 185113.472826
package: 144360.368922
optics: 59846.495171

annual_ebit_after_sbc_oku

86840.973747

annual_parent_profit_after_sbc_oku

64848.189427

2036

内容を開く

year

2035

状態

forecast

annual_revenue_oku

412124.000449

annual_segment_sales_oku

component: 195294.713832
package: 155187.396591
optics: 61641.890026

annual_ebit_after_sbc_oku

91436.174709

annual_parent_profit_after_sbc_oku

68762.642672

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）: 104442.503963
非支配持分資本（億）: 4871.032399
consolidated_equity_oku: 109313.536361
現金（億）: 37572.118757
interest_bearing_debt_oku: 28911.993744
net_debt_oku: -8660.125013
ppe_plus_intangibles_oku: 72675.390217
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: 12853.26087
operating_margin_after_sbc_proxy: 0.31
営業利益（株式報酬控除後）: 3984.51087

package

sales_oku: 6695.652174
operating_margin_after_sbc_proxy: 0.23
営業利益（株式報酬控除後）: 1540

optics

sales_oku: 6217.391304
operating_margin_after_sbc_proxy: 0.055
営業利益（株式報酬控除後）: 341.956522

income

内容を開く

total_sales_oku: 25766.304348
unallocated_corporate_cost_oku: 515.326087
営業利益（株式報酬控除後）: 5351.141304
sbc_expense_included_in_operating_profit_oku: 82.452174
interest_income_oku: 101.838186
interest_expense_oku: 204.620134
other_nonoperating_oku: -90.182065
profit_before_tax_oku: 5158.177292
income_tax_expense_oku: 1212.171664
consolidated_net_profit_oku: 3946.005628
nci_profit_oku: 138.110197
parent_net_profit_after_sbc_oku: 3807.895431
depreciation_and_amortization_oku: 1829.407609

cashflow

内容を開く

operating_cashflow_proxy_oku: 5413.374541
capital_expenditure_cash_oku: 5159.717391
committed_FCBGA_project_capex_within_total_oku: 2690.217391
maintenance_capex_proxy_oku: 1752.108696
additional_growth_capex_oku: 717.391304
working_capital_investment_oku: 444.49087
free_cashflow_before_financing_oku: 253.65715
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: -3057.199158
cash_identity_close_oku: 34768.576749

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: 104442.503963
parent_profit_oku: 3807.895431
equity_settled_sbc_reserve_credit_oku: 82.452174
dividend_declared_and_paid_common_oku: 0
dividend_declared_and_paid_preferred_oku: 0
treasury_common_buyback_oku: 0
nci_open_oku: 4871.032399
nci_profit_oku: 138.110197
nci_dividend_oku: 0
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 108332.851568

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 108332.851568
非支配持分資本（億）: 5009.142596
consolidated_equity_oku: 113341.994163
現金（億）: 34768.576749
interest_bearing_debt_oku: 25854.794586
net_debt_oku: -8913.782163
ppe_plus_intangibles_oku: 76005.7
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）: 108332.851568
非支配持分資本（億）: 5009.142596
consolidated_equity_oku: 113341.994163
現金（億）: 34768.576749
interest_bearing_debt_oku: 25854.794586
net_debt_oku: -8913.782163
ppe_plus_intangibles_oku: 76005.7
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: 87218.07
operating_margin_after_sbc_proxy: 0.3
営業利益（株式報酬控除後）: 26165.421

package

sales_oku: 49422.84
operating_margin_after_sbc_proxy: 0.255
営業利益（株式報酬控除後）: 12602.8242

optics

sales_oku: 44205.48
operating_margin_after_sbc_proxy: 0.075
営業利益（株式報酬控除後）: 3315.411

income

内容を開く

total_sales_oku: 180846.39
unallocated_corporate_cost_oku: 2351.00307
営業利益（株式報酬控除後）: 39732.65313
sbc_expense_included_in_operating_profit_oku: 578.708448
interest_income_oku: 625.406021
interest_expense_oku: 1214.343603
other_nonoperating_oku: -632.962365
profit_before_tax_oku: 38510.753183
income_tax_expense_oku: 9050.026998
consolidated_net_profit_oku: 29460.726185
nci_profit_oku: 1031.125416
parent_net_profit_after_sbc_oku: 28429.600768
depreciation_and_amortization_oku: 12840.09369

cashflow

内容を開く

operating_cashflow_proxy_oku: 39701.741273
capital_expenditure_cash_oku: 56297.55452
committed_FCBGA_project_capex_within_total_oku: 31000
maintenance_capex_proxy_oku: 12297.55452
additional_growth_capex_oku: 13000
working_capital_investment_oku: 3177.78705
free_cashflow_before_financing_oku: -16595.813247
dividend_cash_paid_common_oku: 3998.15328
dividend_cash_paid_preferred_oku: 158.372247
nci_cash_dividend_oku: 123.73505
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 0
net_debt_issuance_repayment_oku: 4192.136075
cash_identity_close_oku: 18084.639

shares_and_holder

内容を開く

new_common_shares_from_sbc: 71059
sbc_issuance_date_assumed: 2027-06-30
sbc_grant_fair_value_price_proxy_krw: 1008504.672
prior_year_SBC_credit_now_issued_in_shares_oku: 137.92
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: 3998.15328
old_holder_buyback_cash_received_oku: 0
old_holder_total_cash_received_oku: 3998.15328
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 108332.851568
parent_profit_oku: 28429.600768
equity_settled_sbc_reserve_credit_oku: 578.708448
dividend_declared_and_paid_common_oku: 3998.15328
dividend_declared_and_paid_preferred_oku: 158.372247
treasury_common_buyback_oku: 0
nci_open_oku: 5009.142596
nci_profit_oku: 1031.125416
nci_dividend_oku: 123.73505
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 133184.635257

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 133184.635257
非支配持分資本（億）: 5916.532962
consolidated_equity_oku: 139101.168219
現金（億）: 18084.639
interest_bearing_debt_oku: 30046.930661
net_debt_oku: 11962.291661
ppe_plus_intangibles_oku: 119463.16083
common_issued_shares: 74764755
common_treasury_shares: 2000000
common_outstanding_shares: 72764755
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 0.99902344205

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）: 133184.635257
非支配持分資本（億）: 5916.532962
consolidated_equity_oku: 139101.168219
現金（億）: 18084.639
interest_bearing_debt_oku: 30046.930661
net_debt_oku: 11962.291661
ppe_plus_intangibles_oku: 119463.16083
common_issued_shares: 74764755
common_treasury_shares: 2000000
common_outstanding_shares: 72764755
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 0.99902344205

segments

component

sales_oku: 103789.5033
operating_margin_after_sbc_proxy: 0.2976667
営業利益（株式報酬控除後）: 30894.675482

package

sales_oku: 64743.9204
operating_margin_after_sbc_proxy: 0.2531111
営業利益（株式報酬控除後）: 16387.40563

optics

sales_oku: 47078.8362
operating_margin_after_sbc_proxy: 0.075
営業利益（株式報酬控除後）: 3530.912715

income

内容を開く

total_sales_oku: 215612.2599
unallocated_corporate_cost_oku: 2802.959379
営業利益（株式報酬控除後）: 48010.034449
sbc_expense_included_in_operating_profit_oku: 689.959232
interest_income_oku: 326.191928
interest_expense_oku: 1415.105548
other_nonoperating_oku: -754.64291
profit_before_tax_oku: 46166.47792
income_tax_expense_oku: 10849.122311
consolidated_net_profit_oku: 35317.355609
nci_profit_oku: 1236.107446
parent_net_profit_after_sbc_oku: 34081.248162
depreciation_and_amortization_oku: 15308.470453

cashflow

内容を開く

operating_cashflow_proxy_oku: 48013.027653
capital_expenditure_cash_oku: 49361.633673
committed_FCBGA_project_capex_within_total_oku: 25200
maintenance_capex_proxy_oku: 14661.633673
additional_growth_capex_oku: 9500
working_capital_investment_oku: 3302.75764
free_cashflow_before_financing_oku: -1348.606021
dividend_cash_paid_common_oku: 6839.88697
dividend_cash_paid_preferred_oku: 269.660853
nci_cash_dividend_oku: 148.332894
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 0
net_debt_issuance_repayment_oku: 12083.073727
cash_identity_close_oku: 21561.22599

shares_and_holder

内容を開く

new_common_shares_from_sbc: 62195
sbc_issuance_date_assumed: 2028-06-30
sbc_grant_fair_value_price_proxy_krw: 1109355.14
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: 6833.207424
old_holder_buyback_cash_received_oku: 0
old_holder_total_cash_received_oku: 6833.207424
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 133184.635257
parent_profit_oku: 34081.248162
equity_settled_sbc_reserve_credit_oku: 689.959232
dividend_declared_and_paid_common_oku: 6839.88697
dividend_declared_and_paid_preferred_oku: 269.660853
treasury_common_buyback_oku: 0
nci_open_oku: 5916.532962
nci_profit_oku: 1236.107446
nci_dividend_oku: 148.332894
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 160846.294828

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 160846.294828
非支配持分資本（億）: 7004.307515
consolidated_equity_oku: 167850.602343
現金（億）: 21561.22599
interest_bearing_debt_oku: 42130.004388
net_debt_oku: 20568.778398
ppe_plus_intangibles_oku: 153516.32405
common_issued_shares: 74826950
common_treasury_shares: 2000000
common_outstanding_shares: 72826950
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 0.998170265266

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）: 160846.294828
非支配持分資本（億）: 7004.307515
consolidated_equity_oku: 167850.602343
現金（億）: 21561.22599
interest_bearing_debt_oku: 42130.004388
net_debt_oku: 20568.778398
ppe_plus_intangibles_oku: 153516.32405
common_issued_shares: 74826950
common_treasury_shares: 2000000
common_outstanding_shares: 72826950
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72693696
old_cohort_pct_of_common_outstanding: 0.998170265266

segments

component

sales_oku: 119876.876311
operating_margin_after_sbc_proxy: 0.2953333
営業利益（株式報酬控除後）: 35403.637471

package

sales_oku: 80282.461296
operating_margin_after_sbc_proxy: 0.2512222
営業利益（株式報酬控除後）: 20168.738332

optics

sales_oku: 49668.172191
operating_margin_after_sbc_proxy: 0.075
営業利益（株式報酬控除後）: 3725.112914

income

内容を開く

total_sales_oku: 249827.509798
unallocated_corporate_cost_oku: 3247.757627
営業利益（株式報酬控除後）: 56049.73109
sbc_expense_included_in_operating_profit_oku: 799.448031
interest_income_oku: 387.836426
interest_expense_oku: 1978.754895
other_nonoperating_oku: -874.396284
profit_before_tax_oku: 53584.416337
income_tax_expense_oku: 12592.337839
consolidated_net_profit_oku: 40992.078498
nci_profit_oku: 1434.722747
parent_net_profit_after_sbc_oku: 39557.355751
depreciation_and_amortization_oku: 17737.753196

cashflow

内容を開く

operating_cashflow_proxy_oku: 56278.830985
capital_expenditure_cash_oku: 28688.270666
committed_FCBGA_project_capex_within_total_oku: 6000
maintenance_capex_proxy_oku: 16988.270666
additional_growth_capex_oku: 5700
working_capital_investment_oku: 3250.44874
free_cashflow_before_financing_oku: 27590.560318
dividend_cash_paid_common_oku: 8193.031875
dividend_cash_paid_preferred_oku: 322.451602
nci_cash_dividend_oku: 172.16673
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 4944.66654
net_debt_issuance_repayment_oku: 0
cash_identity_close_oku: 35519.469562

shares_and_holder

内容を開く

new_common_shares_from_sbc: 65513
sbc_issuance_date_assumed: 2029-06-30
sbc_grant_fair_value_price_proxy_krw: 1220290.654
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 405204
assumed_buyback_price_krw: 1220290.654
old_common_shares_tendered: 404099.06843159
proportional_tender_ratio: 0.997273147431
old_holder_cash_dividends_received_oku: 8178.0408
old_holder_buyback_cash_received_oku: 4931.183163
old_holder_total_cash_received_oku: 13109.223963
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 160846.294828
parent_profit_oku: 39557.355751
equity_settled_sbc_reserve_credit_oku: 799.448031
dividend_declared_and_paid_common_oku: 8193.031875
dividend_declared_and_paid_preferred_oku: 322.451602
treasury_common_buyback_oku: 4944.66654
nci_open_oku: 7004.307515
nci_profit_oku: 1434.722747
nci_dividend_oku: 172.16673
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 187742.948593

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 187742.948593
非支配持分資本（億）: 8266.863533
consolidated_equity_oku: 196009.812126
現金（億）: 35519.469562
interest_bearing_debt_oku: 42130.004388
net_debt_oku: 6610.534826
ppe_plus_intangibles_oku: 164466.841521
common_issued_shares: 74892463
common_treasury_shares: 2405204
common_outstanding_shares: 72487259
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72289596.931568
old_cohort_pct_of_common_outstanding: 0.997273147431

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）: 187742.948593
非支配持分資本（億）: 8266.863533
consolidated_equity_oku: 196009.812126
現金（億）: 35519.469562
interest_bearing_debt_oku: 42130.004388
net_debt_oku: 6610.534826
ppe_plus_intangibles_oku: 164466.841521
common_issued_shares: 74892463
common_treasury_shares: 2405204
common_outstanding_shares: 72487259
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 72289596.931568
old_cohort_pct_of_common_outstanding: 0.997273147431

segments

component

sales_oku: 134861.48585
operating_margin_after_sbc_proxy: 0.293
営業利益（株式報酬控除後）: 39514.415354

package

sales_oku: 94733.304329
operating_margin_after_sbc_proxy: 0.2493333
営業利益（株式報酬控除後）: 23620.170546

optics

sales_oku: 51903.23994
operating_margin_after_sbc_proxy: 0.075
営業利益（株式報酬控除後）: 3892.742995

income

内容を開く

total_sales_oku: 281498.030119
unallocated_corporate_cost_oku: 3659.474392
営業利益（株式報酬控除後）: 63367.854504
sbc_expense_included_in_operating_profit_oku: 900.793696
interest_income_oku: 638.912841
interest_expense_oku: 1978.754895
other_nonoperating_oku: -985.243105
profit_before_tax_oku: 61042.769345
income_tax_expense_oku: 14345.050796
consolidated_net_profit_oku: 46697.718549
nci_profit_oku: 1634.420149
parent_net_profit_after_sbc_oku: 45063.298399
depreciation_and_amortization_oku: 19986.360138

cashflow

内容を開く

operating_cashflow_proxy_oku: 64576.172953
capital_expenditure_cash_oku: 22441.866048
committed_FCBGA_project_capex_within_total_oku: 1100
maintenance_capex_proxy_oku: 19141.866048
additional_growth_capex_oku: 2200
working_capital_investment_oku: 3008.69943
free_cashflow_before_financing_oku: 42134.306905
dividend_cash_paid_common_oku: 9532.074559
dividend_cash_paid_preferred_oku: 376.669128
nci_cash_dividend_oku: 196.130418
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 5632.910468
net_debt_issuance_repayment_oku: -5060.855913
cash_identity_close_oku: 56855.135981

shares_and_holder

内容を開く

new_common_shares_from_sbc: 67107
sbc_issuance_date_assumed: 2030-06-30
sbc_grant_fair_value_price_proxy_krw: 1342319.719
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 419640
assumed_buyback_price_krw: 1342319.719
old_common_shares_tendered: 418108.62845061
proportional_tender_ratio: 0.996350749334
old_holder_cash_dividends_received_oku: 9506.081997
old_holder_buyback_cash_received_oku: 5612.354566
old_holder_total_cash_received_oku: 15118.436563
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 187742.948593
parent_profit_oku: 45063.298399
equity_settled_sbc_reserve_credit_oku: 900.793696
dividend_declared_and_paid_common_oku: 9532.074559
dividend_declared_and_paid_preferred_oku: 376.669128
treasury_common_buyback_oku: 5632.910468
nci_open_oku: 8266.863533
nci_profit_oku: 1634.420149
nci_dividend_oku: 196.130418
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 218165.386534

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 218165.386534
非支配持分資本（億）: 9705.153264
consolidated_equity_oku: 227870.539798
現金（億）: 56855.135981
interest_bearing_debt_oku: 37069.148475
net_debt_oku: -19785.987506
ppe_plus_intangibles_oku: 166922.347431
common_issued_shares: 74959570
common_treasury_shares: 2824844
common_outstanding_shares: 72134726
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71871488.303118
old_cohort_pct_of_common_outstanding: 0.996350749334

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）: 218165.386534
非支配持分資本（億）: 9705.153264
consolidated_equity_oku: 227870.539798
現金（億）: 56855.135981
interest_bearing_debt_oku: 37069.148475
net_debt_oku: -19785.987506
ppe_plus_intangibles_oku: 166922.347431
common_issued_shares: 74959570
common_treasury_shares: 2824844
common_outstanding_shares: 72134726
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71871488.303118
old_cohort_pct_of_common_outstanding: 0.996350749334

segments

component

sales_oku: 149021.941865
operating_margin_after_sbc_proxy: 0.2906667
営業利益（株式報酬控除後）: 43315.711102

package

sales_oku: 107995.966935
operating_margin_after_sbc_proxy: 0.2474444
営業利益（株式報酬控除後）: 26723.002041

optics

sales_oku: 53979.369537
operating_margin_after_sbc_proxy: 0.075
営業利益（株式報酬控除後）: 4048.452715

income

内容を開く

total_sales_oku: 310997.278337
unallocated_corporate_cost_oku: 4042.964618
営業利益（株式報酬控除後）: 70044.201239
sbc_expense_included_in_operating_profit_oku: 995.191291
interest_income_oku: 1022.691974
interest_expense_oku: 1741.057473
other_nonoperating_oku: -1088.490474
profit_before_tax_oku: 68237.345266
income_tax_expense_oku: 16035.776137
consolidated_net_profit_oku: 52201.569128
nci_profit_oku: 1827.054919
parent_net_profit_after_sbc_oku: 50374.514209
depreciation_and_amortization_oku: 22080.806762

cashflow

内容を開く

operating_cashflow_proxy_oku: 72475.1386
capital_expenditure_cash_oku: 21147.814927
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 21147.814927
additional_growth_capex_oku: 0
working_capital_investment_oku: 2802.428581
free_cashflow_before_financing_oku: 51327.323673
dividend_cash_paid_common_oku: 10820.2089
dividend_cash_paid_preferred_oku: 429.459877
nci_cash_dividend_oku: 219.24659
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 6296.813747
net_debt_issuance_repayment_oku: -15496.749198
cash_identity_close_oku: 74919.981342

shares_and_holder

内容を開く

new_common_shares_from_sbc: 67400
sbc_issuance_date_assumed: 2031-06-30
sbc_grant_fair_value_price_proxy_krw: 1476551.691
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 426454
assumed_buyback_price_krw: 1476551.691
old_common_shares_tendered: 424501.1244242
proportional_tender_ratio: 0.995420665357
old_holder_cash_dividends_received_oku: 10780.723245
old_holder_buyback_cash_received_oku: 6267.97853
old_holder_total_cash_received_oku: 17048.701776
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 218165.386534
parent_profit_oku: 50374.514209
equity_settled_sbc_reserve_credit_oku: 995.191291
dividend_declared_and_paid_common_oku: 10820.2089
dividend_declared_and_paid_preferred_oku: 429.459877
treasury_common_buyback_oku: 6296.813747
nci_open_oku: 9705.153264
nci_profit_oku: 1827.054919
nci_dividend_oku: 219.24659
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 251988.609509

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 251988.609509
非支配持分資本（億）: 11312.961593
consolidated_equity_oku: 263301.571103
現金（億）: 74919.981342
interest_bearing_debt_oku: 21572.399277
net_debt_oku: -53347.582065
ppe_plus_intangibles_oku: 165989.355596
common_issued_shares: 75026970
common_treasury_shares: 3251298
common_outstanding_shares: 71775672
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71446987.178694
old_cohort_pct_of_common_outstanding: 0.995420665357

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）: 251988.609509
非支配持分資本（億）: 11312.961593
consolidated_equity_oku: 263301.571103
現金（億）: 74919.981342
interest_bearing_debt_oku: 21572.399277
net_debt_oku: -53347.582065
ppe_plus_intangibles_oku: 165989.355596
common_issued_shares: 75026970
common_treasury_shares: 3251298
common_outstanding_shares: 71775672
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71446987.178694
old_cohort_pct_of_common_outstanding: 0.995420665357

segments

component

sales_oku: 161688.806923
operating_margin_after_sbc_proxy: 0.2883333
営業利益（株式報酬控除後）: 46620.272663

package

sales_oku: 120955.482968
operating_margin_after_sbc_proxy: 0.2455556
営業利益（株式報酬控除後）: 29701.290818

optics

sales_oku: 56138.544319
operating_margin_after_sbc_proxy: 0.075
営業利益（株式報酬控除後）: 4210.390824

income

内容を開く

total_sales_oku: 338782.83421
unallocated_corporate_cost_oku: 4404.176845
営業利益（株式報酬控除後）: 76127.77746
sbc_expense_included_in_operating_profit_oku: 1084.105069
interest_income_oku: 1351.328781
interest_expense_oku: 1015.984702
other_nonoperating_oku: -1185.73992
profit_before_tax_oku: 75277.381619
income_tax_expense_oku: 17690.18468
consolidated_net_profit_oku: 57587.196938
nci_profit_oku: 2015.551893
parent_net_profit_after_sbc_oku: 55571.645045
depreciation_and_amortization_oku: 24053.581229

cashflow

内容を開く

operating_cashflow_proxy_oku: 80085.255429
capital_expenditure_cash_oku: 23037.232726
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 23037.232726
additional_growth_capex_oku: 0
working_capital_investment_oku: 2639.627808
free_cashflow_before_financing_oku: 57048.022702
dividend_cash_paid_common_oku: 12094.200732
dividend_cash_paid_preferred_oku: 482.250626
nci_cash_dividend_oku: 241.866227
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 6946.440382
net_debt_issuance_repayment_oku: -21572.399277
cash_identity_close_oku: 90630.8468

shares_and_holder

内容を開く

new_common_shares_from_sbc: 66747
sbc_issuance_date_assumed: 2032-06-30
sbc_grant_fair_value_price_proxy_krw: 1624206.86
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 427682
assumed_buyback_price_krw: 1624206.86
old_common_shares_tendered: 425327.9719125
proportional_tender_ratio: 0.994495844839
old_holder_cash_dividends_received_oku: 12038.81734
old_holder_buyback_cash_received_oku: 6908.206097
old_holder_total_cash_received_oku: 18947.023436
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 251988.609509
parent_profit_oku: 55571.645045
equity_settled_sbc_reserve_credit_oku: 1084.105069
dividend_declared_and_paid_common_oku: 12094.200732
dividend_declared_and_paid_preferred_oku: 482.250626
treasury_common_buyback_oku: 6946.440382
nci_open_oku: 11312.961593
nci_profit_oku: 2015.551893
nci_dividend_oku: 241.866227
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 289121.467884

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 289121.467884
非支配持分資本（億）: 13086.647259
consolidated_equity_oku: 302208.115143
現金（億）: 90630.8468
interest_bearing_debt_oku: 0
net_debt_oku: -90630.8468
ppe_plus_intangibles_oku: 164973.007093
common_issued_shares: 75093717
common_treasury_shares: 3678980
common_outstanding_shares: 71414737
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71021659.206781
old_cohort_pct_of_common_outstanding: 0.994495844839

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）: 289121.467884
非支配持分資本（億）: 13086.647259
consolidated_equity_oku: 302208.115143
現金（億）: 90630.8468
interest_bearing_debt_oku: 0
net_debt_oku: -90630.8468
ppe_plus_intangibles_oku: 164973.007093
common_issued_shares: 75093717
common_treasury_shares: 3678980
common_outstanding_shares: 71414737
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 71021659.206781
old_cohort_pct_of_common_outstanding: 0.994495844839

segments

component

sales_oku: 173815.467442
operating_margin_after_sbc_proxy: 0.286
営業利益（株式報酬控除後）: 49711.223689

package

sales_oku: 133051.031264
operating_margin_after_sbc_proxy: 0.2436667
営業利益（株式報酬控除後）: 32420.101285

optics

sales_oku: 58103.39337
operating_margin_after_sbc_proxy: 0.075
営業利益（株式報酬控除後）: 4357.754503

income

内容を開く

total_sales_oku: 364969.892077
unallocated_corporate_cost_oku: 4744.608597
営業利益（株式報酬控除後）: 81744.470879
sbc_expense_included_in_operating_profit_oku: 1167.903655
interest_income_oku: 1630.238641
interest_expense_oku: 0
other_nonoperating_oku: -1277.394622
profit_before_tax_oku: 82097.314897
income_tax_expense_oku: 19292.869001
consolidated_net_profit_oku: 62804.445896
nci_profit_oku: 2198.155606
parent_net_profit_after_sbc_oku: 60606.29029
depreciation_and_amortization_oku: 25912.862337

cashflow

内容を開く

operating_cashflow_proxy_oku: 87397.441391
capital_expenditure_cash_oku: 24817.952661
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 24817.952661
additional_growth_capex_oku: 0
working_capital_investment_oku: 2487.770497
free_cashflow_before_financing_oku: 62579.48873
dividend_cash_paid_common_oku: 13354.555819
dividend_cash_paid_preferred_oku: 535.041375
nci_cash_dividend_oku: 263.778673
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 7575.783184
net_debt_issuance_repayment_oku: 0
cash_identity_close_oku: 131481.176479

shares_and_holder

内容を開く

new_common_shares_from_sbc: 65369
sbc_issuance_date_assumed: 2033-06-30
sbc_grant_fair_value_price_proxy_krw: 1786627.546
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 424027
assumed_buyback_price_krw: 1786627.546
old_common_shares_tendered: 421307.44865535
proportional_tender_ratio: 0.993586372225
old_holder_cash_dividends_received_oku: 13281.050272
old_holder_buyback_cash_received_oku: 7527.19493
old_holder_total_cash_received_oku: 20808.245202
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 289121.467884
parent_profit_oku: 60606.29029
equity_settled_sbc_reserve_credit_oku: 1167.903655
dividend_declared_and_paid_common_oku: 13354.555819
dividend_declared_and_paid_preferred_oku: 535.041375
treasury_common_buyback_oku: 7575.783184
nci_open_oku: 13086.647259
nci_profit_oku: 2198.155606
nci_dividend_oku: 263.778673
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 329430.281451

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 329430.281451
非支配持分資本（億）: 15021.024192
consolidated_equity_oku: 344451.305643
現金（億）: 131481.176479
interest_bearing_debt_oku: 0
net_debt_oku: -131481.176479
ppe_plus_intangibles_oku: 163878.097417
common_issued_shares: 75159086
common_treasury_shares: 4103007
common_outstanding_shares: 71056079
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 70600351.758126
old_cohort_pct_of_common_outstanding: 0.993586372225

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）: 329430.281451
非支配持分資本（億）: 15021.024192
consolidated_equity_oku: 344451.305643
現金（億）: 131481.176479
interest_bearing_debt_oku: 0
net_debt_oku: -131481.176479
ppe_plus_intangibles_oku: 163878.097417
common_issued_shares: 75159086
common_treasury_shares: 4103007
common_outstanding_shares: 71056079
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 70600351.758126
old_cohort_pct_of_common_outstanding: 0.993586372225

segments

component

sales_oku: 185113.472826
operating_margin_after_sbc_proxy: 0.2836667
営業利益（株式報酬控除後）: 52510.521792

package

sales_oku: 144360.368922
operating_margin_after_sbc_proxy: 0.2417778
営業利益（株式報酬控除後）: 34903.129197

optics

sales_oku: 59846.495171
operating_margin_after_sbc_proxy: 0.075
営業利益（株式報酬控除後）: 4488.487138

income

内容を開く

total_sales_oku: 389320.336919
unallocated_corporate_cost_oku: 5061.16438
営業利益（株式報酬控除後）: 86840.973747
sbc_expense_included_in_operating_profit_oku: 1245.825078
interest_income_oku: 2365.041285
interest_expense_oku: 0
other_nonoperating_oku: -1362.621179
profit_before_tax_oku: 87843.393853
income_tax_expense_oku: 20643.197555
consolidated_net_profit_oku: 67200.196297
nci_profit_oku: 2352.00687
parent_net_profit_after_sbc_oku: 64848.189427
depreciation_and_amortization_oku: 27641.743921

cashflow

内容を開く

operating_cashflow_proxy_oku: 93774.473037
capital_expenditure_cash_oku: 26473.78291
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 26473.78291
additional_growth_capex_oku: 0
working_capital_investment_oku: 2313.29226
free_cashflow_before_financing_oku: 67300.690126
dividend_cash_paid_common_oku: 14566.496195
dividend_cash_paid_preferred_oku: 586.405347
nci_cash_dividend_oku: 282.240824
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 8106.01672
net_debt_issuance_repayment_oku: 0
cash_identity_close_oku: 175240.707519

shares_and_holder

内容を開く

new_common_shares_from_sbc: 63391
sbc_issuance_date_assumed: 2034-06-30
sbc_grant_fair_value_price_proxy_krw: 1965290.3
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 412459
assumed_buyback_price_krw: 1965290.3
old_common_shares_tendered: 409448.36183122
proportional_tender_ratio: 0.992700757727
old_holder_cash_dividends_received_oku: 14473.07211
old_holder_buyback_cash_received_oku: 8046.84894
old_holder_total_cash_received_oku: 22519.921051
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

内容を開く

parent_open_oku: 329430.281451
parent_profit_oku: 64848.189427
equity_settled_sbc_reserve_credit_oku: 1245.825078
dividend_declared_and_paid_common_oku: 14566.496195
dividend_declared_and_paid_preferred_oku: 586.405347
treasury_common_buyback_oku: 8106.01672
nci_open_oku: 15021.024192
nci_profit_oku: 2352.00687
nci_dividend_oku: 282.240824
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 372265.377694

issued_common_treasury_and_preferred_end

内容を開く

親会社持分（億）: 372265.377694
非支配持分資本（億）: 17090.790238
consolidated_equity_oku: 389356.167932
現金（億）: 175240.707519
interest_bearing_debt_oku: 0
net_debt_oku: -175240.707519
ppe_plus_intangibles_oku: 162710.136406
common_issued_shares: 75222477
common_treasury_shares: 4515466
common_outstanding_shares: 70707011
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 70190903.396295
old_cohort_pct_of_common_outstanding: 0.992700757727

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）: 372265.377694
非支配持分資本（億）: 17090.790238
consolidated_equity_oku: 389356.167932
現金（億）: 175240.707519
interest_bearing_debt_oku: 0
net_debt_oku: -175240.707519
ppe_plus_intangibles_oku: 162710.136406
common_issued_shares: 75222477
common_treasury_shares: 4515466
common_outstanding_shares: 70707011
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 70190903.396295
old_cohort_pct_of_common_outstanding: 0.992700757727

segments

component

sales_oku: 195294.713832
operating_margin_after_sbc_proxy: 0.2813333
営業利益（株式報酬控除後）: 54942.912825

package

sales_oku: 155187.396591
operating_margin_after_sbc_proxy: 0.2398889
営業利益（株式報酬控除後）: 37227.732138

optics

sales_oku: 61641.890026
operating_margin_after_sbc_proxy: 0.075
営業利益（株式報酬控除後）: 4623.141752

income

内容を開く

total_sales_oku: 412124.000449
unallocated_corporate_cost_oku: 5357.612006
営業利益（株式報酬控除後）: 91436.174709
sbc_expense_included_in_operating_profit_oku: 1318.796801
interest_income_oku: 3152.173712
interest_expense_oku: 0
other_nonoperating_oku: -1442.434002
profit_before_tax_oku: 93145.914419
income_tax_expense_oku: 21889.289889
consolidated_net_profit_oku: 71256.624531
nci_profit_oku: 2493.981859
parent_net_profit_after_sbc_oku: 68762.642672
depreciation_and_amortization_oku: 29260.804032

cashflow

内容を開く

operating_cashflow_proxy_oku: 99669.877329
capital_expenditure_cash_oku: 28024.432031
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 28024.432031
additional_growth_capex_oku: 0
working_capital_investment_oku: 2166.348035
free_cashflow_before_financing_oku: 71645.445298
dividend_cash_paid_common_oku: 15590.895926
dividend_cash_paid_preferred_oku: 630.635434
nci_cash_dividend_oku: 299.277823
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 8595.328803
net_debt_issuance_repayment_oku: 0
cash_identity_close_oku: 221770.014831

shares_and_holder

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new_common_shares_from_sbc: 61004
sbc_issuance_date_assumed: 2035-06-30
sbc_grant_fair_value_price_proxy_krw: 2161819.33
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 397597
assumed_buyback_price_krw: 2161819.33
old_common_shares_tendered: 394354.60522182
proportional_tender_ratio: 0.991845022024
old_holder_cash_dividends_received_oku: 15477.094199
old_holder_buyback_cash_received_oku: 8525.234086
old_holder_total_cash_received_oku: 24002.328285
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

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parent_open_oku: 372265.377694
parent_profit_oku: 68762.642672
equity_settled_sbc_reserve_credit_oku: 1318.796801
dividend_declared_and_paid_common_oku: 15590.895926
dividend_declared_and_paid_preferred_oku: 630.635434
treasury_common_buyback_oku: 8595.328803
nci_open_oku: 17090.790238
nci_profit_oku: 2493.981859
nci_dividend_oku: 299.277823
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 417529.957004

issued_common_treasury_and_preferred_end

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親会社持分（億）: 417529.957004
非支配持分資本（億）: 19285.494274
consolidated_equity_oku: 436815.451278
現金（億）: 221770.014831
interest_bearing_debt_oku: 0
net_debt_oku: -221770.014831
ppe_plus_intangibles_oku: 161473.764405
common_issued_shares: 75283481
common_treasury_shares: 4913063
common_outstanding_shares: 70370418
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 69796548.791073
old_cohort_pct_of_common_outstanding: 0.991845022024

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）: 417529.957004
非支配持分資本（億）: 19285.494274
consolidated_equity_oku: 436815.451278
現金（億）: 221770.014831
interest_bearing_debt_oku: 0
net_debt_oku: -221770.014831
ppe_plus_intangibles_oku: 161473.764405
common_issued_shares: 75283481
common_treasury_shares: 4913063
common_outstanding_shares: 70370418
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 69796548.791073
old_cohort_pct_of_common_outstanding: 0.991845022024

segments

component

sales_oku: 174244.504923
operating_margin_after_sbc_proxy: 0.279
営業利益（株式報酬控除後）: 48614.216873

package

sales_oku: 140438.233776
operating_margin_after_sbc_proxy: 0.238
営業利益（株式報酬控除後）: 33424.299639

optics

sales_oku: 53688.233588
operating_margin_after_sbc_proxy: 0.075
営業利益（株式報酬控除後）: 4026.617519

income

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total_sales_oku: 368370.972286
unallocated_corporate_cost_oku: 4788.82264
営業利益（株式報酬控除後）: 81276.311391
sbc_expense_included_in_operating_profit_oku: 1178.787111
interest_income_oku: 3398.955628
interest_expense_oku: 0
other_nonoperating_oku: -1289.298403
profit_before_tax_oku: 83385.968616
income_tax_expense_oku: 19595.702625
consolidated_net_profit_oku: 63790.265991
nci_profit_oku: 2232.65931
parent_net_profit_after_sbc_oku: 61557.606682
depreciation_and_amortization_oku: 26154.339032

cashflow

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operating_cashflow_proxy_oku: 89396.465596
capital_expenditure_cash_oku: 25049.226115
committed_FCBGA_project_capex_within_total_oku: 0
maintenance_capex_proxy_oku: 25049.226115
additional_growth_capex_oku: 0
working_capital_investment_oku: 1726.926539
free_cashflow_before_financing_oku: 64347.239481
dividend_cash_paid_common_oku: 16537.04823
dividend_cash_paid_preferred_oku: 672.011967
nci_cash_dividend_oku: 267.919117
external_nci_capital_cash_received_oku: 0
issuer_common_share_buyback_cash_oku: 7694.688928
net_debt_issuance_repayment_oku: 0
cash_identity_close_oku: 260945.58607

shares_and_holder

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new_common_shares_from_sbc: 49570
sbc_issuance_date_assumed: 2036-06-30
sbc_grant_fair_value_price_proxy_krw: 2378001.264
prior_year_SBC_credit_now_issued_in_shares_oku: 0
new_common_cash_issue_proceeds_oku: 0
company_common_shares_bought_into_treasury: 323578
assumed_buyback_price_krw: 2378001.264
old_common_shares_tendered: 320713.31316781
proportional_tender_ratio: 0.991146843011
old_holder_cash_dividends_received_oku: 16402.188966
old_holder_buyback_cash_received_oku: 7626.566639
old_holder_total_cash_received_oku: 24028.755605
cash_only_holder_no_sbc_cash_outflow: はい

equity_rollforward

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parent_open_oku: 417529.957004
parent_profit_oku: 61557.606682
equity_settled_sbc_reserve_credit_oku: 1178.787111
dividend_declared_and_paid_common_oku: 16537.04823
dividend_declared_and_paid_preferred_oku: 672.011967
treasury_common_buyback_oku: 7694.688928
nci_open_oku: 19285.494274
nci_profit_oku: 2232.65931
nci_dividend_oku: 267.919117
external_nci_cash_capital_oku: 0
oci_and_unexplained_changes_assumed_oku: 0
parent_equity_close_calculated_oku: 455362.601672

issued_common_treasury_and_preferred_end

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親会社持分（億）: 455362.601672
非支配持分資本（億）: 21250.234466
consolidated_equity_oku: 476612.836138
現金（億）: 260945.58607
interest_bearing_debt_oku: 0
net_debt_oku: -260945.58607
ppe_plus_intangibles_oku: 160368.651488
common_issued_shares: 75333051
common_treasury_shares: 5236641
common_outstanding_shares: 70096410
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 69475835.477905
old_cohort_pct_of_common_outstanding: 0.991146843011

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

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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: 5500
preferred_dps_krw: 5550
record_date: 2026-12-31
scheduled_payment_date_assumed: 2027-04-19
preferred_cash_not_attributable_to_old_common_oku: 158.372247
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2027-04-19
year: 0.4490075291
金額: 3998.15328
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2026
dps_krw: 5500
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

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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: 71059
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1008504.67

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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: 9400
preferred_dps_krw: 9450
record_date: 2027-12-31
scheduled_payment_date_assumed: 2028-04-17
preferred_cash_not_attributable_to_old_common_oku: 269.660853
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2028-04-17
year: 1.4455852156
金額: 6833.207424
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2027
dps_krw: 9400
ex_date: 2027-12-29
record_date: 2027-12-31
declaration_date_assumed: 2028-03-15
record_common_shares: 72764755
old_cohort_record_shares: 72693696
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

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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: 62195
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1109355.14

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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: 11250
preferred_dps_krw: 11300
record_date: 2028-12-31
scheduled_payment_date_assumed: 2029-04-17
preferred_cash_not_attributable_to_old_common_oku: 322.451602
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2029-04-17
year: 2.4449007529
金額: 8178.0408
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2028
dps_krw: 11250
ex_date: 2028-12-29
record_date: 2028-12-31
declaration_date_assumed: 2029-03-15
record_common_shares: 72826950
old_cohort_record_shares: 72693696
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

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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: 65513
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1220290.65

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想定日: 2029-10-15
year: 2.9404517454
金額: 4931.183163
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 4944.66654
issuer_shares_bought: 405204
old_cohort_shares_tendered: 404099.06843159
ownership_fraction_at_tender: 0.997273147431
repurchase_price_krw: 1220290.654

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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: 13150
preferred_dps_krw: 13200
record_date: 2029-12-31
scheduled_payment_date_assumed: 2030-04-17
preferred_cash_not_attributable_to_old_common_oku: 376.669128
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2030-04-17
year: 3.4442162902
金額: 9506.081997
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2029
dps_krw: 13150
ex_date: 2029-12-28
record_date: 2029-12-31
declaration_date_assumed: 2030-03-15
record_common_shares: 72487259
old_cohort_record_shares: 72289596.931568
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: 67107
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1342319.72

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想定日: 2030-10-15
year: 3.9397672827
金額: 5612.354566
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 5632.910468
issuer_shares_bought: 419640
old_cohort_shares_tendered: 418108.62845061
ownership_fraction_at_tender: 0.996350749334
repurchase_price_krw: 1342319.719

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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: 15000
preferred_dps_krw: 15050
record_date: 2030-12-31
scheduled_payment_date_assumed: 2031-04-17
preferred_cash_not_attributable_to_old_common_oku: 429.459877
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2031-04-17
year: 4.4435318275
金額: 10780.723245
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2030
dps_krw: 15000
ex_date: 2030-12-27
record_date: 2030-12-31
declaration_date_assumed: 2031-03-17
record_common_shares: 72134726
old_cohort_record_shares: 71871488.303118
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: 67400
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1476551.69

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想定日: 2031-10-15
year: 4.93908282
金額: 6267.97853
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 6296.813747
issuer_shares_bought: 426454
old_cohort_shares_tendered: 424501.1244242
ownership_fraction_at_tender: 0.995420665357
repurchase_price_krw: 1476551.691

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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: 16850
preferred_dps_krw: 16900
record_date: 2031-12-31
scheduled_payment_date_assumed: 2032-04-19
preferred_cash_not_attributable_to_old_common_oku: 482.250626
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2032-04-19
year: 5.4510609172
金額: 12038.81734
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2031
dps_krw: 16850
ex_date: 2031-12-29
record_date: 2031-12-31
declaration_date_assumed: 2032-03-15
record_common_shares: 71775672
old_cohort_record_shares: 71446987.178694
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

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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: 66747
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1624206.86

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想定日: 2032-10-15
year: 5.9411362081
金額: 6908.206097
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 6946.440382
issuer_shares_bought: 427682
old_cohort_shares_tendered: 425327.9719125
ownership_fraction_at_tender: 0.994495844839
repurchase_price_krw: 1624206.86

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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: 18700
preferred_dps_krw: 18750
record_date: 2032-12-31
scheduled_payment_date_assumed: 2033-04-18
preferred_cash_not_attributable_to_old_common_oku: 535.041375
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2033-04-18
year: 6.4476386037
金額: 13281.050272
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2032
dps_krw: 18700
ex_date: 2032-12-29
record_date: 2032-12-31
declaration_date_assumed: 2033-03-15
record_common_shares: 71414737
old_cohort_record_shares: 71021659.206781
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

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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: 65369
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1786627.55

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想定日: 2033-10-17
year: 6.945927447
金額: 7527.19493
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 7575.783184
issuer_shares_bought: 424027
old_cohort_shares_tendered: 421307.44865535
ownership_fraction_at_tender: 0.993586372225
repurchase_price_krw: 1786627.546

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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: 20500
preferred_dps_krw: 20550
record_date: 2033-12-31
scheduled_payment_date_assumed: 2034-04-17
preferred_cash_not_attributable_to_old_common_oku: 586.405347
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2034-04-17
year: 7.4442162902
金額: 14473.07211
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2033
dps_krw: 20500
ex_date: 2033-12-29
record_date: 2033-12-31
declaration_date_assumed: 2034-03-15
record_common_shares: 71056079
old_cohort_record_shares: 70600351.758126
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

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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: 63391
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 1965290.3

内容を開く

想定日: 2034-10-16
year: 7.9425051335
金額: 8046.84894
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 8106.01672
issuer_shares_bought: 412459
old_cohort_shares_tendered: 409448.36183122
ownership_fraction_at_tender: 0.992700757727
repurchase_price_krw: 1965290.3

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: 22050
preferred_dps_krw: 22100
record_date: 2034-12-31
scheduled_payment_date_assumed: 2035-04-17
preferred_cash_not_attributable_to_old_common_oku: 630.635434
ex_date_status: forecast_not_KRX_confirmed

内容を開く

想定日: 2035-04-17
year: 8.4435318275
金額: 15477.094199
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2034
dps_krw: 22050
ex_date: 2034-12-29
record_date: 2034-12-31
declaration_date_assumed: 2035-03-15
record_common_shares: 70707011
old_cohort_record_shares: 70190903.396295
declared_vs_forecast: forecast_not_declared_as_of_2026-11-06
tax: gross_before_all_investor_withholding

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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: 61004
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 2161819.33

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想定日: 2035-10-15
year: 8.93908282
金額: 8525.234086
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 8595.328803
issuer_shares_bought: 397597
old_cohort_shares_tendered: 394354.60522182
ownership_fraction_at_tender: 0.991845022024
repurchase_price_krw: 2161819.33

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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: 23500
preferred_dps_krw: 23550
record_date: 2035-12-31
scheduled_payment_date_assumed: 2036-04-17
preferred_cash_not_attributable_to_old_common_oku: 672.011967
ex_date_status: forecast_not_KRX_confirmed

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想定日: 2036-04-17
year: 9.4455852156
金額: 16402.188966
種類: common_dividend_cash_received
date_status: forecast_assumption
fiscal_year: 2035
dps_krw: 23500
ex_date: 2035-12-28
record_date: 2035-12-31
declaration_date_assumed: 2036-03-17
record_common_shares: 70370418
old_cohort_record_shares: 69796548.791073
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: 49570
issuer_cash_proceeds_oku: 0
estimated_grant_fair_value_per_share_krw: 2378001.26

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想定日: 2036-10-15
year: 9.9411362081
金額: 7626.566639
種類: common_share_proportional_buyback_tender
date_status: forecast_assumption
issuer_total_buyback_cash_oku: 7694.688928
issuer_shares_bought: 323578
old_cohort_shares_tendered: 320713.31316781
ownership_fraction_at_tender: 0.991146843011
repurchase_price_krw: 2378001.264

期間内株主受取

166413.996584

終価

1404444.524455

company_all_common_terminal_equity_oku

1416989.353654

company_preferred_terminal_equity_oku

57704.586871

company_parent_total_terminal_equity_oku

1474693.940525

holder_ownership_ratio_terminal_common

0.991146843011

irr

0.100715993866

pv_holder_dividends_buybacks_oku_at_scenario_cost_equity

94407.924154

pv_holder_terminal_oku_at_scenario_cost_equity

536505.521375

pv_old_holder_total_oku_at_scenario_cost_equity

630913.445528

estimated_fair_value_krw_per_initial_common_share

867906.683

estimated_fair_value_to_price_ratio

0.9975939

terminal_cashflow_method

内容を開く

方法

2037_steady_state_FCFF_at_WACC_less_g_with_share_neutral_SBC_and_no_terminal_PE

2037_consolidated_sales_oku

446955.990059

2037_operating_profit_after_sbc_oku

98615.083596

2037_segment_operating_profits_oku

component: 58985.145596
package: 40554.745246
optics: 4885.620625

2037_corporate_overhead_oku

5810.427871

2037_sbc_expense_already_in_operating_profit_oku

1430.259168

2037_nopat_after_sbc_oku

75440.538951

2037_non_cash_sbc_added_back_once_oku

1430.259168

2037_normalized_after_tax_operating_return_plus_SBC_oku

76870.798119

2037_incremental_ron_ic

0.22

2037_growth_reinvestment_oku

10831.79428

2037_forecast_share_awards_units

54678

2037_forecast_share_neutral_market_repurchase_units

54678

2037_assumed_market_price_for_share_neutralization_krw

2615801.39

2037_share_neutral_repurchase_cash_oku

1430.267884

2037_sustainable_after_SBC_neutralization_FCFF_oku

64608.735955

wacc

0.08

perpetuity_g

0.031

terminal_enterprise_value_oku

1318545.631727

terminal_gross_debt_oku

terminal_cash_oku

260945.58607

terminal_required_operating_cash_oku

43351.696417

terminal_excess_cash_added_oku

217593.889653

terminal_equity_before_NCI_oku

1536139.52138

terminal_NCI_fair_value_share_assumed

0.04

terminal_NCI_fair_value_oku

61445.580855

terminal_parent_equity_value_including_common_and_preferred_oku

1474693.940525

preferred_50KRW_extra_dividend_perpetuity_oku

20.382529

2036_11_06_common_equity_value_oku

1416989.353654

2036_11_06_preferred_equity_value_oku

57704.586871

2036_11_06_old_cohort_equity_oku

1404444.524455

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）: 455362.601672
非支配持分資本（億）: 21250.234466
consolidated_equity_oku: 476612.836138
現金（億）: 260945.58607
interest_bearing_debt_oku: 0
net_debt_oku: -260945.58607
ppe_plus_intangibles_oku: 160368.651488
common_issued_shares: 75333051
common_treasury_shares: 5236641
common_outstanding_shares: 70096410
preferred_issued_shares: 2906984
preferred_treasury_shares: 53430
preferred_outstanding_shares: 2853554
old_common_cohort_remaining_shares: 69475835.477905
old_cohort_pct_of_common_outstanding: 0.991146843011

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

166413.996584

終価

1404444.524455

irr

0.100715993866

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

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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

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

内容を開く

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

内容を開く

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

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分析に使用した資料

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