External broker reports(aggregated public sources), Daishin Securities

Daishin Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>Maintain BUY rating and lift TP 7% to W320,000</li><li>In-line, strong results ahead on rapid US revenue growth led by online channels</li><li>2026F revenue at W2.0236tn (+39% YoY) and OP at W492.3bn (OPM 24%)</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Maintain BUY rating and lift TP 7% to W320,000In-line, strong results ahead on rapid US revenue growth led by online channels2026F revenue at W2.0236tn (+39% YoY) and OP at W492.3bn (OPM 24%)Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

APR (278470 KS Feb 2, 2026) - US Success Drives Record-Highs; W2tn Revenue Increasingly Within Sight