Shinhan Investment Securities expressed strong confidence in ANIPLUS's performance on the 17th, noting that it is worth paying attention to given that the animated film "Demon Slayer: Infinity Train" is set to be released on August 22. ANIPLUS's stock price on the last trading day was 4,600 won.
Researcher Kim Ah-ram stated about ANIPLUS, "a company leading the domestic subculture industry," adding that the stock price is still low.
ANIPLUS presented a revenue guidance of 160 billion won and an operating profit of 35 billion won at its shareholders' meeting this year.
Researcher Kim noted, "This exceeds our estimated operating profit of 31 billion won, which indicates that the price-to-earnings ratio (PER) this year is below 9 times," adding, "Generally, companies involved in intellectual property (IP) distribution trade at 10 to 15 times, and considering that ANIPLUS has the film release of 'Demon Slayer: Infinity Train' coming up in August, there is still upside potential."
It was also analyzed that the reasons for the poor stock performance over the past year, such as growth rates and frequent issuance of convertible bonds, have been supplemented.
Researcher Kim stated, "The animation business of separate, AniMax, and Rapture is running smoothly, and Lowen Company has improved its condition through inventory efficiency last year," adding, "The overhang issue is also in the process of resolution."
He further analyzed, "Following the active exercise of call options and share buybacks, the unpaid convertible bonds reduced from about 40 billion won at the end of last year to 23.3 billion won," and added, "Of this, the 5th tranche convertible bond amounting to 12 billion won has an exercise request period from October 2026 to March 2027, so concerns about the overhang are limited."
He projected that the revenue and operating profit for this year would increase by 12% to 147.2 billion won and by 25% to 31.4 billion won, respectively, compared to the same period last year.