Because of the recent disasters in Japan (a massive earthquake, subsequent nuclear meltdowns, and aftershocks), the Japanese market has not been looking good at all. In fact, because of these disasters, some were speculating that the “Hallyu Wave” would not successfully carry over to Japan market. Therefore, the stocks of SM and other entertainment companies were driven down–SM alone fell 20% (from 20000 won to 16000).
Yet with the announcement of SNSD’s Japanese single debuting on April 27th, ‘Mr. Taxi’, SM’s stock rallied. On April 5th, SM’s stock rose 6.35% (1150 won) and finally closed at 19250 won. As of April 8th, SM Entertainment closed at 19450 won. Buyers included Samsung Securities, Kiwoom Securities, Daewoo Securities, and NH Investment Securities.
Forbes Korea was right. SNSD is a very, very powerful brand.
Translated by: fanwonder/Taengfan@fanwonder.com
Shared by michelle@smtownjjang