Hana Securities evaluated on the 24th that the decline in ROBOTIS stock following the announcement of the separation was excessive.
ROBOTIS decided to establish a new company named Roboits (tentative) by separating its autonomous robot business sector after the market closed on the 18th. A physical separation refers to a method of corporate division in which the existing company holds 100% of the equity in the newly established company. ROBOTIS stock fell 17.6% (6,850 won) from 38,950 won on the 18th to 32,100 won on the 21st.
Choi Jae-ho, an analyst at Hana Securities, noted, 'Since ROBOTIS has stated that it has no plans to list the newly established company (Roboits) within the next five years, there will be no change in corporate value (after the physical separation).' He added, 'It is important not to overlook that ROBOTIS's core is in actuators.'
Choi continued, 'ROBOTIS has products that can respond to all joints applied in humanoid robots, and it has already secured substantial global references, including Tesla and Google.' He added, 'The second-largest shareholder, LG Electronics, has also started developing humanoid robots, which is actually favorable for business collaboration.'
Choi stated that the stock price has excessively fallen to a point where ROBOTIS can be re-evaluated in the physical artificial intelligence (Physical AI, combining robots and AI) sector, making it a buying opportunity. He added, 'ROBOTIS plans to supply the initial batch of the new collaborative robot, Open Manipulator-Y, starting in May of this year, which is expected to increase its performance.'