Glossary

S

Securities Analyst

Usually means a securities analyst (sell-side analyst) working at a securities company. A specialist who researches and analyzes corporate information, industry trends, etc. and determines investment value for securities investment.

Share Purchase Warrant

The right to purchase shares at a specific price. There are no limits to the amount of issuance or rights exercise period, and the company can use it in various ways, such as means of financing.

Shareholder Yield

It is calculated by dividing the total shareholder return per share (dividends and share buybacks) by the current stock price. A stock indicator of the ratio of shareholder return to stock price.

Solvency Margin Ratio

An important indicator of the financial soundness of an insurance company, which is used to determine the ability to pay insurance claims in the event of a catastrophic disaster greater than normal expectations. In general, there is no problem with the ability to pay insurance claims if the SMR is 200% or higher.

Statement of Income

One of the financial statements. A statement that calculates profit by deducting expenses from income of a company for an accounting period. Also called P&L.

Statement of Shareholders' Equity

One of the financial statements that reports the reasons for changes in shareholders' equity among the changes in the net assets section of the balance sheet during an accounting period.

Statutory Reserves

A reserve that an insurance company sets aside in advance to fulfill their responsibilities, such as claims payment based on insurance agreement. Loss reserves, policy reserves, etc. are listed in the liabilities section of the balance sheet.

Stewardship Code

A code of conduct for institutional investors, including banks, securities companies, insurance companies, and pension funds, to promote medium- to long-term growth of investee companies.

Sum Insured of In-Force Policies

The total amount of money guaranteed by the life insurance company.

T

Timely Disclosure

A company should disclose important business information to shareholders and investors in a timely manner. It is the obligation of companies listed on the stock exchange.

Total Assets

An accounting item. It is the sum of all assets of the company, including current assets, fixed assets and deferred assets, and is equal to the sum of total liabilities and net assets.

Total Payout Ratio

An indicator of the weight of shareholder returns in profits for each accounting period.

Total Return Based on Market Value

An indicator of investment efficiency on a market value basis. The numerator reflects the increase/ decrease in the market value of securities in addition to realized gains/losses, while the denominator is the market value of securities.

Treasury Stock

Shares held by the issuing company.

U

Underwriting Expenses

Includes selling, general and administrative expenses, commission and collection expense related to insurance underwriting.

Underwriting Profit

It shows how much profit is made in underwriting insurance. It is calculated by deducting insurance underwriting expense, selling, general and administrative expense related to insurance underwriting from insurance underwriting income, and adding or deducting other income.

Unrealized Gains on Securities Available for Sale

The difference between the book value and market value of "other securities" that are not classified as "available-for-sale securities", "policy reserve bonds”, “held-to-maturity bonds", or "subsidiary/affiliate stocks", which is not recorded in the profit and loss statement, but rather in the net assets section of the balance sheet.