DOCSLIB.ORG

Beyond & Greater

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Beyond & Greater ANNUAL REPORT 2016 BEYOND & GREATER About this Report BEYOND & GREATER Annual Report 2016 LOTTE SHOPPING ANNUAL REPORT 2016 This annual report is designed to inform readers about Lotte Shopping’s exciting and innovative new ideas in the retail industry of today and tomorrow. We are committed to offering customers and shareholders the ultimate in value and satisfaction. COVER STORY The cover of this report features photographs depicting the world of Lotte Shopping. It shows readers the wide range of channels, products, stores, and services that we have to offer them. UNIQUE FEATURE This year’s report includes a “Beyond” section outlining our efforts to create the retail industry of the future and a “Better” part that describes our financial and non-financial management performance and our activities in the area of corporate social responsibilities. *** LOVELY LIFE Our “Lovely Life” corporate slogan reflects our commitment to providing our customers with richer and happier lives. We are committed to embracing change and innovation for the betterment of all our stakeholders. MILESTONES 1979-2005 2011 2014 BEYOND & GREATER '79 11 - Founded as Lotte Shopping Co., Ltd. '11 02 - Opened second Lotte School in Vietnam '14 05 - Opened Lotte Department Store Shenyang, 12 - Opened first otteL Department Store China 04 - Opened Lotte Mall Daegu Esiapolis Annual Report 2016 '96 06 - Opened Lotteshopping.com online shopping mall 06 - Opened Lotte Department Store Tianjin in China 09 - Opened first otteL Department Store in '98 04 - Opened first otteL Mart 08 - Opened 200th Lotte Mart store (83rd in China) Hanoi, Vietnam '00 01 - Spun off otteshopping.comL to create Lotte.com 12 - Opened Lotte Premium Outlets Paju 10 - Opened Lotte Outlets Goyang Bus Terminal '01 05 - Opened first otteL Super 12 - Opened Lotte Mall Gimpo Airport 10 - Opened Lotte Avenuel World Tower '02 10 - Acquired Nowon Department Store from Midopa 11 - Opened Lotte Mall Suwon '03 11 - Opened first otteL Young Plaza 12 - Opened Lotte Premium Outlets 12 - Spun off credit card business to Lotte Card subsidiary 2012 Gwangmyeong '04 03 - Acquired twenty-five supermarkets from Hanwha Super 12 - Opened Lotte Outlets Guri '12 01 - Acquired CS Mart '05 03 - Opened first venuelA 12 - Opened Lotte Mall East Busan 02 - Launched Lotte DatViet home shopping business in Vietnam 03 - Launched “elLotte” premium online mall 2006-2008 05 - Acquired two Grand Department Store branches 2015 '06 02 - Listed on London and South Korean stock exchanges 06 - Opened firstVIC Market, in Geumcheon '15 03 - Opened Diamond Plaza department store in 08 - Acquired Woori Home Shopping 08 - Acquired Lotte Square Hanoi, Vietnam '07 09 - Opened first verseaso Lotte Department Store, in Moscow 09 - Opened Lotte Department Store Tianjin in 05 - Opened Lotte Factory Outlets Incheon 12 - Entered Chinese hypermarket sector with acquisition of Makro Tianjin Cultural Center, China 06 - Spun-off LOHB’s health and beauty store as '08 08 - Opened second overseas Lotte Department Store, in Beijing 09 - Opened 100th Lotte Mart store in China a separate company 10 - Entered Indonesian hypermarket sector with 10 - Acquired Himart 07 - Opened Lotte Department Store Masan acquisition of Makro 09 - Opened Lotte Outlets Gwanggyo 10 - Opened first otteL Outlets, in Gwangju 11 - Opened 40th Lotte Mart in Indonesia 12 - Opened first otteL Premium Outlets, in Gimhae 2013 12 - Opened Lotte Mart Yeongdeok 12 - Opened Lotte Mart Ho Chi Minh in Vietnam featuringshowroom-style format '13 01 - Acquired Lotte Midopa (first overseas Lotte Mart store) 01 - Opened Lotte Outlets Seoul Station 04 - Opened Lotte Department Store Weihai, China 06 - Opened Lotte Shopping Avenue in Indonesia 2016 2009-2010 08 - Opened Lotte Department Store in New Century '16 03 - Opened Lotte Department Store '09 07 - Opened first otteL School in Vietnam Global Center, Chengdu, China elCUBE Hongdae 09 - Opened Lotte Outlets Suwan in Gwangju 09 - Opened Lotte Outlets Buyeo 06 - Opened Lotte Super Premium Food Market 09 - Acquired 7-Eleven convenience store chain (Korea Seven) 12 - Opened Lotte Premium Outlets Icheon Dogok 10 - Acquired Times hypermarket chain in China (68 stores) 07 - Launched Choice L Gold Premium '10 01 - Acquired Buy The Way convenience store chain Integrated PB Brand 02 - Acquired GS Square department stores and 07 - Opened thirteenth Lotte Mart in Vietnam GS Mart hypermarkets 08 - Opened Lotte Outlets Uijeongbu 08 - Acquired equity stake in Chinese home shopping 09 - Opened Lotte Mall Jinju network Lucky Pai 12 - Opened forty-sixth Lotte Mart in Indonesia 08 - Opened Lotte Outlets Yulha in Daegu 12 - Opened Lotte Outlets Namak 08 - Opened first directlyoperated Lotte Mart in Indonesia 11 - Acquired Nice Claup Fashion 1979 2016 2 3 CONTENTS BEYOND GREATER 01 05 07 *** Beyond Expectations, Smart Shopping *** Greater Vision *** Greater Tomorrows page. 4~7 page 24~47 page 64~73 4 Shopping Meets Technology 26 About the Lotte Group 65 Lotte Shopping’s CSR 28 Company Profile 66 Customer-Oriented Management 30 2016 Performance Highlights 68 Environmental Management 34 Global Network 70 Win-Win Partnerships 36 CEO’s Message 72 Social Contributions 40 Board of Directors 42 Governance 02 43 Ethical Management 44 2016 News Highlights *** Beyond Boundaries, Omni Channel page. 8~13 8 Flexible Shopping, Flexible Shipping 06 08 *** Greater Performances *** Financial Statement page 48~63 page 74~160 03 50 Lotte Department Store 75 Independent Auditor’s Report 52 Lotte Mart 76 Consolidated Statements of Financial Position *** Beyond Frames, New Format Business page. 14~19 54 Lotte Card 78 Consolidated Statements of Comprehensive Income 56 Himart 79 Consolidated Statements of Changes in Equity 14 Providing Innovative Services 58 7-Eleven 81 Consolidated Statements of Cash Flows 60 Lotte Super 84 Notes to the Consolidated Financial Statements 61 Lotte Home Shopping 62 Lotte Cinema 63 LOHB’s 04 *** Beyond Limitations, New Stores page. 20~23 20 Creating Diverse Memories LOTTE SHOPPING ANNUAL REPORT 2016 4 5 3D Virtual Fitting Showing you how you’ll look in advance Lotte Department Store’s 3D Virtual Fitting service combines shopping for clothes with high-tech augmented reality technologies to let shoppers check out how they’ll look in the clothing they’re interested in through Digital Mirror and smartphones, without having to actually put them on. 01. BEYOND EXPECTATIONS Smart Shopping Augmented Shopping Meets Reality Digital Motion Technology Recognition Mirror Camera 2 3 Technologies Amazing shopping experiences Lotte Shopping uses cutting-edge ICT technologies to provide customers with excitingly new shopping experiences. They include 3D Virtual Fitting with high-tech augmented reality (AR) technologies, a Smart Shopper, a Foot Scanner that measures foot sizes in 3D, and Baro Coupon, offering discount movie coupons through the magic of sound wave communications. LOTTE SHOPPING ANNUAL REPORT 2016 6 7 Foot Scanner Custom-tailored shoes Lotte Department Store uses 3D foot-measuring scans at its main branch. The scanner measures the shoe size of a customer in 3D and delivers its recommendations within seconds. Customers then have the option of buying shoes in the best size to fit them off the rack or having them custom-made. Smart Shopper Eliminating shopping carts Smart Shopper was initially deployed at the food stores of 3D Lotte Department Store Bundang. It’s an innovative, omnichannel Scanning service that combines offline shopping with state-of-the-art ICT technologies. Shoppers can have their purchases delivered to their homes by swiping the bar codes of the products they want at a terminal at the store and then paying for them at a self-serve Precise checkout. They can also make changes to their purchases or cancel Information Technology Measuring them by using an order-viewing device while they’re still shopping. Technology There’s no need for lug around a big, heavy shopping cart! Technologies ICT 4 NFC Baro Coupon A quick and easy way to get discount movie coupons Lotte Cinema can now supply discount coupons to customers just by tapping their cell phones. Using Lotte’s sound wave technologies, theatergoers can receive discounted movie admissions just by following the instructions given in the cinema. LOTTE SHOPPING ANNUAL REPORT 2016 8 9 02. BEYOND BOUNDARIES Omni Channel Flexible Shopping, Flexible Shipping Online to Offline Offline to Online Himart 7-Eleven Easy and convenient shopping Customers can pick up their online purchases just by driving to one of our department stores, marts, supermarkets, convenience stores, Lotte Mart parking lots, or gas stations. If the things they want aren’t available Lotte Super Lotte Department Store at an offline store, they can order them at one of Lotte’s online shopping malls. Lotte Homeshopping LOTTE SHOPPING ANNUAL REPORT 2016 10 11 Technologies Smart Pick LOTTE DEPARTMENT STORE’S SMART PICK RESULTS FOR 2016 Merging online and offline shopping Smart Pick is Lotte Shopping’s signature omnichannel service. Combining the best of online and offline shopping and operated by 175,614 (+183%) Smart Pick 2 The 7-Eleven Cross-Pick Service Number of orders Lotte Department Store, Lotte Mart, Lotte Super, and Himart, it allows 35 Lotte’s Cross Pick service allows customers to pick up shoppers to pick up their online purchases at any nearby offline store. NUMBER OF STORES merchandise purchased from online shopping malls at In 2016, Lotte Department Store and Himart launched the Cross-Pick EQUIPPED WITH any 7-Eleven convenience stores that are open 24/7. It was service in July and November respectively. The service allows customers SMART PICK ACROSS 17,434 (+190%) launched by Lotte Department Stores and Himart in July Sales (in KRW billions) to pick up their online orders at any 24/7 7-Eleven location. Lotte Mart SOUTH KOREA Lotte Department Store and November, respectively, in 2016. and Lotte Super introduced the Drive & Pick service, which allows shoppers to pick up their online orders at gas stations or the parking lots of the stores without having to leave the comfort of their cars.
Load more

Recommended publications
  • The Organic Trade Association's Report
    GO TO MARKET REPORT: South Korea The U.S. Department of Agriculture’s Foreign Agriculture Service (FAS) provided funding for these reports through the Organic Trade Association’s Organic Export Program Organic Trade Association (OTA) does not discriminate on the basis of race, color, national origin, sex, religion, age, disability, political beliefs, sexual orientation or marital/family status. Persons with disabilities, who require alternative means for communication of program information, should contact OTA. TABLE OF CONTENTS: 1!OVERVIEW 1!REGULATORY STATUS GO TO MARKET REPORT: 2!COMMONLY IMPORTED PRODUCTS South Korea 3!MARKET SECTOR OVERVIEWS 9!MARKET ACCESS AND DISTRIBUTION CHAIN 10!CHARACTERISTICS OF SHOPPERS 12!RESOURCES 13!REFERENCES Overview: The Republic of Korea (formerly South Korea) imports approximately 60 to 70 percent of its food and agricultural products, and is one of the least self-su!cient countries for grain production. Between 2010 and 2015, total spending on food is expected to increase over 20 percent. With over 50 percent of the population concentrated within a 60 mile radius of the capital city of Seoul, that region accounts for over 70 percent of the retail spending in the country. Despite the limited volume of domestic agriculture, Koreans favor locally grown and manufactured foods and are willing to pay a premium for domestic goods. A wide variety of agricultural products are grown or processed locally, including rice, fresh and processed vegetables, fruits, seafood and meats, eggs, dairy products, noodles, sauces, oils, grain "our, beverages, snacks, confections, and liquor. Unlike other sectors of the Korean economy, there is not a focus on exporting in Korean agriculture, and, in general, government policies favor domestic agriculture.
    [Show full text]
  • Cedar Point Debuts Biggest Investment Ever
    SPOTLIGHT: Hoffman's reborn as Huck Finn's Playland Pages 26 TM & ©2015 Amusement Today, Inc. August 2015 | Vol. 19 • Issue 5 www.amusementtoday.com Cedar Point debuts biggest investment ever AT: Tim Baldwin [email protected] SANDUSKY, Ohio — Ce- dar Point no longer releases investment figures, but the re- sort has revealed that the Ho- tel Breakers makeover is the biggest investment the park has ever undertaken. With Top Thrill Dragster costing $25 million in 2003, that certainly speaks to what is on display for this season — and beyond. In addition to the new hotel grandeur, Cedar Point has also made new upgrades and ad- ditions in several areas of the park. Hotel Breakers dates back to 1905, a time when most guests coming to Cedar Point Cedar Fair recently completed its largest investment ever at the Cedar Point Resort. The 2015 improvements included a were actually arriving by boat. massive makeover to the historic Hotel Breakers (above) that now gives guests the choice of staying in remodeled rooms The hotel’s historic rotunda or newly-created suites and more activities beachside during the evening hours. At Cedar Point, guests now find the new has always been configured Sweet Spot (below left) awaiting their sweet tooth along the main midway, while coaster fans are enjoying the new B&M more toward the beach side of floorless trains on Rougarou, formerly the Mantis stand-up coaster. AT/TIM BALDWIN the property. As the decades progressed, automobiles took over and eventually the hotel welcomed visitors from what was originally the back of the building.
    [Show full text]
  • Retail Foods
    Required Report: Required - Public Distribution Date: June 16, 2021 Report Number: KS2021-0015 Report Name: Retail Foods Country: Korea - Republic of Post: Seoul ATO Report Category: Retail Foods Prepared By: Sangyong Oh Approved By: Andrew Anderson-sprecher Report Highlights: The United States is the leading supplier of imported consumer-oriented agricultural products to the Korean retail industry, shipping a record $5.4 billion in 2020. The outlook for U.S. products in the Korean retail industry is excellent for a wide range of products, including beef, pork, processed meat, seafood, vegetables, fruits, nuts, dairy products, juices and soft drinks, alcoholic beverages, condiments and sauces, processed organic foods, coffee, bakery products, snacks and confectioneries. THIS REPORT CONTAINS ASSESSMENTS OF COMMODITY AND TRADE ISSUES MADE BY USDA STAFF AND NOT NECESSARILY STATEMENTS OF OFFICIAL U.S. GOVERNMENT POLICY Market Fact Sheet: Korea- Republic of Executive Summary Quick Facts CY 2020 South Korea has the 10th largest economy in the world with a Imports of Ag. Products from the World GDP of $1.6 trillion and a per capita GNI of $31,755 in 2020. It - Basic Products US$5.3 billion is about the size of Indiana and has a population of 52 million. - Intermediate Products US$8.1 billion Over 90 percent of Koreans live in urban areas. Domestic - Consumer-Oriented Products US$14.8 billion production meets only 45 percent of food demand. The United - Forest Products US$2.7 billion States exported $8.8 billion in agricultural products to Korea in - Seafood Products US$5.3 billion 2020, making it our fifth largest export market.
    [Show full text]
  • Asian Cities Report Seoul Retail 2H 2017
    Asian Cities Report | Seoul Retail Savills World Research2H 2017 Korea Asian Cities Report Seoul Retail 2H 2017 savills.com.hk/research savills.com.hk/research 01 Asian Cities Report | Seoul Retail 2H 2017 GRAPH 1 First floor retail rents continuing growth of e-commerce. First floor rental increases in major Seoul Based on the Korea Appraisal Supported by the Korea Sale Fiesta (a nationwide government-sponsored retail districts, 2014−2016 Board (KAB) data in June 2017, 1/F rents in the top five retail areas for bargain sales period) and other events, 2014 2015 2016 mid-size buildings have shown a the sales of large discount stores, 5% divergent performance. Retail rents including duty-free shops and outlets, in Myeongdong and Gangnamdaero rose by 9%. In 1H/2017, convenience 4% recorded steady growth from 2014 to store and non-store retail sales continued their double digit growth. 3% mid 2016, but have recorded slight downward movement since 2016. 2% Meanwhile retail rents for Hongdae- Non-store retail Hapjung increased due to new Non-store retail volumes rose by 16% 1% recreational facilities and improved year-on-year (YoY) in 2016 and 13% infrastructure. in 1H/2017. Sales increases in food, 0% electronics and apparel contributed Average contracted rents in to the growth. The sales volumes -1% Myeongdong Gangnamdaero Garosugil Hongdae- Itaewon Myeongdong at the end of June were of online shopping malls operated Hapjung the highest in the city, according to by offline based retailers such as Shinsegae and Lotte group grew far Source: Korea Appraisal Board (KAB) KAB. Myeongdong is an extremely popular foreign tourist destination more rapidly than pure online shopping and attracts significant foot traffic, malls.
    [Show full text]
  • Tourism & Leisure
    KOTRA자료 17-073 INVESTMENT OPPORTUNITIES IN KOREA TOURISM & LEISURE TOURISM & LEISURE Contents 04 Industry Overview Definition of the Industry Status of the Industry Competitiveness of the Industry Prospect for the Industry 15 Tourism Facilities Marinas Resorts Tourist Hotels Theme Parks 24 Government Policies and Regulations Government Policies and Incentives Laws Applied when Entering Related Industries 28 Success Cases of Foreign Investment 32 Related Companies and Associations Most figures in this report are converted from KRW into USD based on yearly average exchange rates. But growth rates (e.g. CAGR and YoY growth rate) are calculated based on KRW to prevent any distortion caused by changes in exchange rates. Global Link to Success, Invest KOREA INVESTMENT OPPORTUNITIES IN KOREA TOURISM & LEISURE TOURISM & LEISURE 4 INDUSTRY 01 OVERVIEW 5 INDUSTRY OVERVIEW Definition of the Industry The “tourism and leisure industry” refers to the industry that provides tourist services related to transportation, accommodation, dining, sports, entertainment, vacationing, tourism, and the operation of tourist facilities. “Tourism and leisure activities” refer to activities that tourists take part in away from their everyday lives. Tourism and leisure services are provided at the time of consumption. More than any other industry in Korea, the tourism and leisure industry has been effective in creating revenue, employment, and added value, significantly contributing to national economic development. Status of the Industry Global Tourism According to the United Nations World Tourism Organization (UNWTO), international tourist arrivals grew by 4.6% worldwide in 2015, reaching a record-breaking 1.19 billion arrivals, after topping the 1 billion mark in 2012. International tourism receipts reached USD 1.26 trillion worldwide in 2015, a 3.8% decrease from 2014.
    [Show full text]
  • Retail Internationalization:Gaining Insights from the Wal-Mart
    View metadata, citation and similar papers at core.ac.uk brought to you by CORE provided by Research Papers in Economics Retail Internationalization: Gaining Insights from the Wal-Mart Experience in South Korea Franco GANDOLFI Regent University, USA E-mail: [email protected] Phone: 1-757-352-4483 Pavel ŠTRACH Škoda Auto University, Czech Republic E-mail: [email protected] Abstract Wal-Mart, the world’s largest retailer, failed to capture the hearts of South Korean consumers, ultimately withdrawing in 2006 after eight years in the market. Although, it had achieved stunning successes in the U.S. and overseas, Wal-Mart was unable to apply its proven U.S. business model in South Korea. Wal-Mart is only one among several retailers that have underestimated the role of conducting cultural due diligence prior to entry into a foreign country. This paper analyzes the causes and antecedents of Wal-Mart’s failure in South Korea with the discussion centering on Wal-Mart’s inability to understand and respond to South Korean consumers. Wal- Mart’s failure demonstrates how firms fail to alter their business practices to the idiosyncrasies of a foreign culture. The primary managerial implication is that the local culture determines the business model. Keywords: retail internationalization, Wal-Mart, South Korea, research case study Introduction The Wal-Mart business concept has become a success story with its ‘Every Day Low Prices’ slogan captivating consumers, especially in these economically challenging times. Wal-Mart is one of the largest private employers in the world and its sales revenues surpassed the $370 billion mark in 2008.
    [Show full text]
  • Interbrand-Best-Korean-Brands-2015
    Contents 02 Introduction 04 The future of business is personal 06 The Age of You: key questions answered 10 Best Korea Brands 2015 Top50 46 Best Korea Brands 2015 Analysis 54 Authors & Contributors 1 engage customers and generate genuine result, each of us will become our own 2015 will provide the insights you need value for the business. marketplace or “Mecosystem.” to drive your organization forward—and Introduction new inspiration to push creative thought The need to create brand experiences In our report, Jez Frampton, Global CEO Jihun Moon and innovation in these changing times. that are seamless and more holistic has of Interbrand, will elaborate on this new been precipitated by sector convergence era, which we at Interbrand refer to as Congratulations to all of Korea’s Best The origin of the term “branding” was and the rise of Big Data. Harnessing the the “Age of You”—the move from brand Global Brands—in particular those whose lit¬erally to burn one’s name onto prop- potential of Big Data isn’t just for tech as monologue, to brand as dialogue, leadership skills have earned them a erty as a crude mark of ownership. But companies anymore—it offers huge to brand as a communal experience, to place among the nation’s top brands. it’s only in our relatively recent history opportunities for all brands. By collecting brand as a truly personal and curated ex- that branding has become recognized as To your continued success, and analyzing customer data and honing perience created around each and every a business discipline.
    [Show full text]
  • The 8Th Asia Pacific IAP Congress September 5 (Thu) - 8 (Sun), 2013, Busan, Korea APIAP 2013 the 8Th Asia Pacific IAP Congress
    The 8th Asia Pacific IAP Congress September 5 (Thu) - 8 (Sun), 2013, Busan, Korea APIAP 2013 The 8th Asia Pacific IAP Congress September 5 (Thu) - 8 (Sun), 2013, Busan, Korea “Pathology, Opening the Personalized Medicine” Hosted by Korean Division of IAP | Korean Society of Pathologists www.apiap2013.org @apiap2013 3rd Announcement Congress 2013 APIAP 3rd Annoucement CONTENTS 03 Invitation & Welcome Message 04 APIAP 2013 Organizing Committee 05 Program at a Glance 07 Keynote Speakers 08 Spreaker Guidelines 10 Daily Program 19 Registration 21 Accommodation 22 Social Programs 23 Tour Programs 25 Transportation 27 Useful Information 28 About Busan, Korea 30 Sponsors Congress 2013 APIAP Invitation & Welcome Message Dear Colleagues, Dear Colleagues, “Pathology, Opening the Personalized Medicine” In collaboration with Korean Division of IAP and Korean So- ciety of Pathologists, as a secretary general I'm pleased to Increasing importance of pathologic diagnosis has been inform you that the 8th Asia Pacific IAP Congress will take made through several steps. place 5(Thu) to 8(Sun), September, 2013 in Busan, Korea. The most recent step “personalized medicine” changed a lot to pathology and pathologists. Pathology is really a traditional The Korean Society of Pathologists cordially invites you to science but with most recent technology. attend at “The 8th Asia Pacific IAP Congress”. During this 4 days congress; we will bring together scientific and clinical In September 5 – 8, 2013, an important event is held at Bu- leaders from all over the world, as well as young scientists san, Korea. and newcomers to the field of pathology. Therefore the 8th The 8th Congress of Asia-Pacific Division of IAP will be a great Asia Pacific IAP Congress will be a good chance to meet oth- occasion to all pathologists.
    [Show full text]
  • Themenparks Re-Made in Japan. Ein Reisebericht
    A Service of Leibniz-Informationszentrum econstor Wirtschaft Leibniz Information Centre Make Your Publications Visible. zbw for Economics Hoffmann, Ute Working Paper Themenparks re-made in Japan: Ein Reisebericht WZB Discussion Paper, No. FS II 02-102 Provided in Cooperation with: WZB Berlin Social Science Center Suggested Citation: Hoffmann, Ute (2002) : Themenparks re-made in Japan: Ein Reisebericht, WZB Discussion Paper, No. FS II 02-102, Wissenschaftszentrum Berlin für Sozialforschung (WZB), Berlin This Version is available at: http://hdl.handle.net/10419/49796 Standard-Nutzungsbedingungen: Terms of use: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Documents in EconStor may be saved and copied for your Zwecken und zum Privatgebrauch gespeichert und kopiert werden. personal and scholarly purposes. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle You are not to copy documents for public or commercial Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich purposes, to exhibit the documents publicly, to make them machen, vertreiben oder anderweitig nutzen. publicly available on the internet, or to distribute or otherwise use the documents in public. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, If the documents have been made available under an Open gelten abweichend von diesen Nutzungsbedingungen die in der dort Content Licence (especially Creative Commons Licences), you genannten Lizenz gewährten Nutzungsrechte.
    [Show full text]
  • Holding Companies Lotte Group : Changes Expected Following Holding Company Conversion
    Holding Companies Lotte Group : Changes expected following holding company conversion Spin-off/merger resolutions likely to pass, assuming 60-70% attendance To establish a holding company, four key Lotte Group affiliates—Lotte Overweight (Maintain) Confectionery, Lotte Shopping, Lotte Chilsung, and Lotte Foods—are planning spin-offs and a merger , subject to approval of special resolutions at shareholders’ meetings (requiring the affirmative vote of two-thirds of the shareholders present Industry Report in person or by proxy, comprising at least one-third of total issued shares). August 29, 2017 Assuming a meeting attendance rate of 60-70% (based on historical examples), we believe all four Lotte affiliates will pass the resolutions (considering the stakes held by the largest shareholders and related parties). Mirae Asset Daewoo Co., Ltd. Holding company valued at between W4.1tr and W4.8tr We estimate the fair value of the new holding company between W4.1tr and W4.8tr. [Holding companies/IT services ] We present two sets of valuations, one that does not reflect brand royalties and one that does (based on a 20bp royalty rate, same as LG Corp.’s and SK Holdings’), as Dae -ro Jeong details regarding royalty rates or the timing of collection have not been released. +822 -3774 -1634 [email protected] Combined value of the four affiliates to increase slightly post-spinoff In assessing the fair values of the new holding company and the operating units of the four affiliates, we examined potential changes in each entity’s market capitalization before and after the spin-offs. Our analysis suggests that the combined market capitalization of the four affiliates will increase slightly after the spin-offs, by between 0.4% and 5.6%.
    [Show full text]
  • LOTTE SHOPPING CO., LTD. and SUBSIDIARIES Consolidated
    LOTTE SHOPPING CO., LTD. AND SUBSIDIARIES Consolidated Financial Statements December 31, 2010 and 2009 (With Independent Auditors’ Report Thereon) Contents Page Independent Auditors’ Report 1 Consolidated Statements of Financial Position 3 Consolidated Statements of Income 6 Consolidated Statements of Changes in Stockholders’ Equity 8 Consolidated Statements of Cash Flows 9 Notes to Consolidated Financial Statements 12 Independent Auditors’ Report Based on a report originally issued in Korean The Board of Directors and Stockholders Lotte Shopping Co., Ltd.; We have audited the accompanying consolidated statements of financial position of Lotte Shopping Co., Ltd. (the “Company”) and its subsidiaries as of December 31, 2010 and 2009, and the related consolidated statements of income, changes in equity and cash flows for the years then ended. These consolidated financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these consolidated financial statements based on our audits. We did not audit the financial statements of certain subsidiaries including Lotte.Com Inc., whose financial statements represent 13.9% and 9.1% of the consolidated total assets as of December 31, 2010 and 2009, respectively, and 22.1% and 15.4% of the consolidated total sales for the years then ended, respectively. Those financial statements were audited by other auditors whose reports have been furnished to us, and our opinion, insofar as it relates to the amounts included for those companies, is based solely on the reports of the other auditors. We conducted our audits in accordance with auditing standards generally accepted in the Republic of Korea. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement.
    [Show full text]
  • Lotte Shopping Co., Ltd. Separate Financial Statements December 31, 2017 Lotte Shopping Co., Ltd
    Lotte Shopping Co., Ltd. Separate Financial Statements December 31, 2017 Lotte Shopping Co., Ltd. Index December 31, 2017 and 2016 Page(s) Independent Auditor’s Report ....................................................................................................... 1 - 2 Separate Financial Statements Separate Statements of Financial Position ............................................................................................. 3 Separate Statements of Comprehensive Income ................................................................................... 4 Separate Statements of Changes in Equity ............................................................................................ 5 Separate Statements of Cash Flows ...................................................................................................... 6 Notes to the Separate Financial Statements ................................................................................. 7 - 110 Independent Auditor’s Report (English Translation of a Report Originally Issued in Korean) To the Board of Directors and Shareholders of Lotte Shopping Co., Ltd. We have audited the accompanying separate financial statements of Lotte Shopping (the Company) which comprise the separate statement of financial position as at December 31, 2017, and the separate statement of comprehensive income, separate statement of changes in equity and separate statement of cash flows for the year then ended, and notes to the separate financial statements, including a summary of significant
    [Show full text]