Stationery company Monami, which faced the threat of delisting, has met the criteria for maintaining its stock listing thanks to a surge in purchases from so-called 'nationalist investors.' The company is also experiencing a rise in online sales.
According to Monami, the order amount on its official online store from July 7 to July 13 increased by 90.8% compared to the previous week, from June 30 to July 6.
The influx of new consumers is attributed to Monami being recognized as a 'patriotic company' on social media and online communities amid its delisting concerns.
The Korea Exchange raised the market capitalization requirement for maintaining a listing on the KOSPI from 20 billion won to 30 billion won on July 1. As a result, Monami, which had a market capitalization of only around 25 billion won as of July 7, faced the possibility of being subject to delisting review.
However, as news of Monami's support for Dokdo became known, both investment and consumer interest surged. In 2021, Monami launched the '153 Dokdo' writing instrument to commemorate 'Dokdo Day' on October 25. Since then, the company has donated 3% of the sales revenue from this product to the Dokdo Love Movement Headquarters each year. The donations are used for activities to protect Dokdo and for the Dokdo Love platform project.
On July 16, the day of a customer appreciation event, which was held just before a trading halt due to a sharp rise in stock prices, orders surged to three times the previous day, causing delays in delivery as consumer enthusiasm continued.
On the same day, Monami's stock price rose to 4,475 won during trading, surpassing the 4,000 won mark for the first time in nearly three years since August 2023.
Support for Monami continues online. In a recent customer appreciation letter posted on the company's website and Instagram, CEO Song Jae-hwa received over 1,100 supportive comments, expressing messages of encouragement for the company.
In the letter, Song stated, "Your belief and support for Monami during this challenging time, when delisting was a possibility, has been an invaluable source of strength. Thank you for proving that the 60 years Monami has walked have not been in vain." He added, "We will use this support as a stepping stone to provide better products and genuine quality. I sincerely thank you all."
Following the release of the letter, netizens left comments such as 'We support the national company Monami' and 'Stay strong,' conveying their encouragement.
Meanwhile, on the day trading resumed, Monami's stock closed at 2,615 won, down 29.89% from the previous trading day. Despite the sharp decline, the market capitalization reached 49.4 billion won, exceeding the listing maintenance criteria.
* This article has been translated by AI.
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