Samsung’s 2027 Operating Profit Seen Exceeding Combined Earnings of Japan’s Top 100 Companies

Korea Economic Daily

Summary

Global investment bank Goldman Sachs and SK Securities projected that Samsung Electronics’ operating profit next year could exceed the combined earnings of Japan’s top 100 companies by market capitalization.
The comparison showed that Samsung Electronics’ operating profit forecast would be more than 11 times the operating profit posted last year by Toyota Motor, Japan’s biggest company by market value.
On Japanese stock-investor forums, users cited Samsung Electronics’ earnings, the outlook for the semiconductor industry and the pace of the stock’s rise, with some saying chips could remain strong for the next few years.

Forecast Trend Report by Period

A projection that Samsung Electronics Co.’s operating profit next year could surpass the combined earnings of Japan’s 100 largest companies by market value is drawing attention among Japanese stock investors.

Goldman Sachs said in a recent report that Samsung’s operating profit will reach 438 trillion won ($315.1 billion) in 2027 and 495 trillion won ($356.1 billion) in 2028, according to the financial investment industry on May 8. SK Securities, a South Korean brokerage, has already published a higher 2027 estimate of 493 trillion won ($354.7 billion), about 50 trillion won above Goldman’s forecast.

Toyota Motor Corp., Japan’s biggest company by market capitalization, posted operating profit of about 43 trillion won ($30.9 billion) last year. On that basis, Samsung’s projected profit would be more than 11 times Toyota’s.

As of May 8, Japan’s largest companies by market value included Toyota Motor in automobiles, Mitsubishi UFJ Financial Group in banking, SoftBank Group in technology investment, Fast Retailing in apparel, Hitachi in infrastructure, Tokyo Electron in semiconductor equipment, Sumitomo Mitsui Financial Group in banking, Kioxia Holdings in memory semiconductors, Advantest in semiconductor equipment and Sony Group in electronics.

While South Korean chipmakers have secured a clear foothold in global markets amid the artificial-intelligence investment boom, Japan has had few comparable beneficiaries, with Kioxia among the exceptions. The country’s competitiveness in semiconductor materials and equipment has also helped underpin corporate earnings.

On Japanese stock-investor forums, users shared the figures and posted reactions such as, “Look at Samsung’s sales and profit before criticizing it,” “Samsung’s earnings are still solid even after the war,” “Can the top stock really rise this fast,” “Semiconductors look good for the next few years,” and “What is the Japanese government doing?”

Noh Jeong-dong, Hankyung.com reporter, dong2@hankyung.com