2011年度年次決算短信

8681 コリア・エクイティ・ファンド

 2011年12月26日15時00分


平成 23 年 12 月 26 日
2011 年度

年次決算短信

上場会社名



本社所在地



問合せ先



コリア・エクイティ・ファンド・インク

コード番号







8681
アメリカ合衆国ニューヨーク州 10281
ニューヨーク市、トゥー・ワールド・フィナンシャル・センタ
ー ビルディングB
島崎法律事務所
責任者役職名 代理人弁護士
氏名 島 崎 文 彰(担当:荻原)
TEL(03)5802-5860



(単位:別段の表示のない限り、米ドル)
2011 年 10 月 31 日終了年度
当年度
純資産

増減率

121,194,999

136,026,379

△10.9%

13.69

12.30

11.3%

△1,474,323

△803,305



14,940,550

28,852,282

△48.2%

1.33

2.53

△47.4%

1株当り純資産
正味投資収益(損失)
実現・未実現利益(損失)
(1)

1株当り純利益(損失)
(1)

前年度

期中の発行済み投資口数に基づく。
期末現在の発行済み投資口数は、2011年10月31日現在:8,849,912株、および2010年10月31日現在:11,062,391株であった
(前年度からの減少は、2010年12月に実施された自己投資口の公開買付による。買付られた投資口は消却され、授権未発行
株式に組み入れられた)。

(注)

四半期ベースの数値は発表していない。
本国において決算発表は行っていない。
上記の数値は 2011 年 10 月 31 日に終了した年度の株主向け報
告書に基づいたものである。

2011 年 10 月 31 日現在の資産の配分状況は以下の通りであった。
97.7%
1.7%
0.6%
100.0%

韓国の持分証券
外貨
負債控除後のその他の資産(純)
純資産

産業別では、17.5%が自動車装置部品、17.4%が家電および 13.3%がサービスに投資されていた。


配当金の推移
10 月 30 日終了年度
2007
2008
2009
2010
2011

*

配当金額
無 配
0.01951 ドル
0.01017 ドル
無 配
3.065 ドル*

支払日(現地)

2008 年7月 18 日
2008 年 12 月 29 日

2012 年1月 18 日

現金選択権付きの株式配当





KOREA EQUITY FUND, INC.
SCHEDULE OF INVESTMENTS*
OCTOBER 31, 2011

Cost

Market
Value

55,665 $

5,826,541 $

16,164,518

13.3

17,356

1,304,236

3,542,040

2.9

8,774

1,707,139

1,526,359

1.3

8,837,916

21,232,917

17.5

232,450

2,551,068

2,601,818

2.1

34,390

1,121,525

1,247,538

1.0

82,820

3,224,461

3,324,564

2.7

106,040

4,608,974

3,999,261

3.3

11,506,028

11,173,181

9.1

53,696

1,981,649

1,819,958

1.5

14,260

3,042,497

4,666,583

3.9

5,024,146

6,486,541

5.4

187,513

2,904,000

2,326,422

1.9

21,530

10,953,529

18,736,888

15.5

13,857,529

21,063,310

17.4

Shares
SOUTH KOREAN EQUITY SECURITIES
Automotive Equipment and Parts
Hyundai Mobis
Automotive service components
Hyundai Motor Company
Passenger cars, trucks, autoparts, and commercial vehicles
Mando Corp.
Brake, suspension, and steering system
Total Automotive Equipment and Parts
Banking and Financial Services
BS Financial Group Inc.†
Banking-related financial services
Hana Financial Group Inc.
Banking-related financial services
Shinhan Financial Group Co., Ltd
Banking-related financial services
Samsung Card Co., Ltd
Credit card services
Total Banking and Financial Services
Chemicals and Pharmaceuticals
Celltrion Inc
Biopharmaceutical products
LG Chem Ltd
Petrochemicals, plastic resins, and engineering plastics
Total Chemicals and Pharmaceuticals
Consumer Electronics
CrucialTec Co., Ltd.†
Optic based input devices
Samsung Electronics Co., Ltd.
Consumer electronics, computers, and telecommunications
Total Consumer Electronics

% of Net
Assets

See notes to financial statements

Source: KOREA EQUITY FUND INC, N-CSR, December 23, 2011

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KOREA EQUITY FUND, INC.
SCHEDULE OF INVESTMENTS*– (Continued)
OCTOBER 31, 2011

Shares
Information and Software
Ncsoft Corporation
Online gaming
Total Information and software
Insurance
Dongbu Insurance Co., Ltd.
Non-life insurance
Korean Reinsurance Company
Life and non-life insurance
Samsung Fire & Marine Insurance Co., Ltd.
Non-life insurance
Samsung Life Insurance Co
Life insurance
Total Insurance

7,924

Market
Value

Cost

2.1

2,504,078

2.1

97,750

3,489,587

4,143,588

3.4

141,206

1,560,587

1,910,591

1.6

13,206

2,518,043

2,825,702

2.3

16,328

1,519,854

1,274,180

1.1

9,088,071

10,154,061

8.4

46,988

911,689

1,077,222

0.9

171,087

752,356

512,200

0.4

16,661

3,950,952

4,928,049

4.1

32,616

2,131,419

2,037,950

1.7

98,863

2,994,051

3,173,073

2.6

10,740,467

11,728,494

9.7

25,858

1,408,375

1,973,698

1.6

11,009

1,174,786

1,593,499

1.3

9,840

Retail
Himart Co., Ltd.†
Consumer electronics and household appliances
Hyundai Department Store Co., Ltd.
Department stores
Hyundai Home Shopping Network Corporation
Merchandiser of consumer products
Lotte Shopping Co., Ltd
Department and discount stores
Total Retail

2,504,078

2,480,093

Miscellaneous Manufacturing
Duksan Hi-Metal Co., Ltd.†
Solder balls used for electronics package types
Finetec Corporation †
Superconducting materials
Korea Zinc Co., Ltd.
Non-ferrous metals
KT&G Corporation
Tobacco
Lock&Lock Co., Ltd.
Plastic food storage
Total Miscellaneous Manufacturing

1,100,185

1,043,891

0.9

3,622,807

3.0

8,233,895

6.8

10,024

$

$

2,480,093

2,758,111
6,441,457

$

% of
Net
Assets

$

See notes to financial statements

Source: KOREA EQUITY FUND INC, N-CSR, December 23, 2011

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KOREA EQUITY FUND, INC.
SCHEDULE OF INVESTMENTS*–(Continued)
OCTOBER 31, 2011

Shares
Services
CJ CGV Co., Ltd
Movie theaters
Grand Korea Leisure Co., Ltd
Casino hotels
Hana Tour Service Inc
Travel related services
Hotel Shilla Co., Ltd
Hotels
KT Skylife Co., Ltd.†
Digital satellite broadcasting
Samsung Engineering Co., Ltd
Engineering and construction
S.M. Entertainment Co.†
Korean rock and roll music
Total Services

Market
Value

Cost

% of Net
Assets

65,730

1.3

1,317,809

1,400,342

1.2

40,192

1,541,030

1,336,963

1.1

80,340

1,584,528

2,733,857

2.3

48,210

822,604

1,272,106

1.0

35,988

2,921,715

7,441,554

6.1

22,929

414,161

1,014,211

0.8

10,205,416

16,723,652

13.8

15,425

4,765,669

4,194,968

3.5

5,230

93,025

175,854

0.1

4,858,694

Wholesale
Fila Korea Ltd
Textile and apparel
Samsung C&T Corporation
Import/export
Total Wholesale
TOTAL SOUTH KOREAN EQUITY SECURITIES

1,524,619

77,880

Transportation
Hyundai Heavy Industries Co., Ltd
Shipbuilding
Korea Aerospace Industries Ltd.†
Fixed-wing aircraft, helicopters, and satellites
Total Transportation

1,603,569

4,370,822

3.6

43,693

3,094,572

3,024,688

2.5

27,062

1,310,058

1,693,352

1.4

4,718,040
118,388,991

3.9
97.7

4,404,630
$ 87,444,447 $

See notes to financial statements

Source: KOREA EQUITY FUND INC, N-CSR, December 23, 2011

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KOREA EQUITY FUND, INC.
SCHEDULE OF INVESTMENTS* – (Continued)
OCTOBER 31, 2011
Market
Value

Cost
INVESTMENTS IN FOREIGN CURRENCY
South Korea Won
Non-interest bearing account
TOTAL INVESTMENTS IN FOREIGN CURRENCY
TOTAL INVESTMENTS
OTHER ASSETS LESS LIABILITIES, NET
NET ASSETS

$

2,025,475

$

2,025,475
$ 89,469,925

$
$

% of
Net
Assets

2,076,520

1.7

2,076,520
120,465,511
729,488
121,194,999

1.7
99.4
0.6
100.0

*The description following each investment is unaudited and not covered by the Report of Independent Registered Public Accounting
Firm.
†Non-income producing security.

Portfolio securities and foreign currency holdings were translated
at the following exchange rate as of October 31, 2011.
South Korean Won

KRW

1,112.30 = USD
$1.00

See notes to financial statements

Source: KOREA EQUITY FUND INC, N-CSR, December 23, 2011

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KOREA EQUITY FUND, INC.
STATEMENT OF ASSETS AND LIABILITIES
OCTOBER 31, 2011
ASSETS:
Investments in securities, at market value (cost—$87,444,447)
Investments in foreign currency, at market value (cost - $2,025,475)
Cash and cash equivalents
Total Assets
LIABILITIES:
Accrued management fee
Other accrued expenses
Total Liabilities

$118,388,991
2,076,520
958,658
121,424,169
82,060
147,110
229,170

NET ASSETS:
Capital stock (par value of 8,849,912 shares of capital stock outstanding, authorized 100,000,000, par value $0.10
each)
884,991
Paid-in capital
62,604,008
Accumulated net realized gain on investments and foreign currency transactions
26,723,069
Unrealized net appreciation on investments and foreign currency transactions
30,995,590
Accumulated net investment loss
(12,659)
Net Assets
$121,194,999
Net asset value per share
$
13.69

See notes to financial statements

Source: KOREA EQUITY FUND INC, N-CSR, December 23, 2011

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KOREA EQUITY FUND, INC.
STATEMENT OF OPERATIONS
FOR THE YEAR ENDED OCTOBER 31, 2011
INCOME:
Dividend income (less $199,747 of withholding taxes)
Interest income
Total Income

$ 1,010,841
1,207
$ 1,012,048

EXPENSES:
Management fee
Legal fees
Custodian fees
Auditing and tax reporting fees
Directors’ fees and expenses
Annual meeting expenses
Shareholder reports
Transfer agency fees
Registration fees
Miscellaneous fees
Total Expenses
INVESTMENT LOSS—NET

1,108,146
839,116
141,041
103,862
102,581
74,593
56,380
28,416
27,525
4,711
2,486,371
(1,474,323)

REALIZED AND UNREALIZED GAIN (LOSS) ON INVESTMENTS AND FOREIGN
CURRENCY:
Realized gain (loss) on investments and foreign currency transactions:
Net realized gain on investments
Net realized loss on foreign currency transactions
Net realized gain on investments and foreign currency transactions
Change in net unrealized depreciation on investments
Change in net unrealized depreciation on translation of foreign currency and other assets and liabilities
denominated in foreign currency
Net realized and unrealized gain on investments and foreign currency transactions
NET INCREASE IN NET ASSETS RESULTING FROM INVESTMENT OPERATIONS

30,639,953
(114,736)
30,525,217
(14,098,955)
(1,485,712)
14,940,550
$ 13,466,227

See notes to financial statements.

Source: KOREA EQUITY FUND INC, N-CSR, December 23, 2011

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KOREA EQUITY FUND, INC.
STATEMENT OF CHANGES IN NET ASSETS
For the Year Ended
October 31,
2011
2010
INVESTMENT OPERATIONS:
Net investment loss
Net realized gain on investments
Net realized gain (loss) on foreign currency transactions
Change in net unrealized appreciation (depreciation) on investments and foreign currency
transactions
Increase in net assets derived from investment activities
CAPITAL SHARE TRANSACTIONS:
Net asset value of shares distributed as part of tender offer
Net asset value of shares distributed as capital share repurchase
Decrease in net assets derived from capital share transactions
NET ASSETS:
Beginning of year
End of year (including accumulated net investment loss of $12,659 and $168,063,
respectively)

$ ( 1,474,323) $
30,639,953
(114,736)

( 803,305)
14,225,453
12,410

(15,584,667)
13,466,227

14,614,419
28,048,977

(28,297,607)

(28,297,607)


(1,483,505)
(1,483,505)

136,026,379

109,460,907

$ 121,194,999

$ 136,026,379

See notes to financial statements.

Source: KOREA EQUITY FUND INC, N-CSR, December 23, 2011

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Origin: 2011年度年次決算短信

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