FSN Posts Net Loss in Q1, Financial Structure Improves

Consolidated Q1 2026 revenue: KRW 59.27bn (YoY -0.7%), operating profit KRW 1.89bn, net loss KRW 0.13bn (vs net profit of KRW 4.5bn in Q1 2025)
Debt ratio improved to 220% from 303% at year-end 2025, but financial liabilities remain high including derivative liabilities of KRW 61.9bn
Loss of control over subsidiaries (Hyper Corporation, Finger Labs) resulted in discontinued operations and reclassification to equity method
Credit rating maintained at BB- (NICE D&B), no shareholder return policy disclosed (no dividends or share buybacks)