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Over 70 pct of listed firms disclose consolidated financial statements

All News 06:00 July 27, 2016

SEOUL, July 27 (Yonhap) -- More than 70 percent of firms listed on the South Korean equity market disclosed their consolidated financial statements (CFSs) for the fiscal year 2015, a government tally showed Wednesday.

Among the 1,846 listed companies, 1,327, or 71.9 percent, made public their CFSs, according to the Financial Supervisory Service (FSS).

The number jumped by 73 from a year earlier but the ratio dropped 1.9 percentage points due to an increase in the number of listed firms.

The number of subsidiaries owned by the listed companies rose 11.1 percent on-year to 10,327.

"The average number of subsidiaries owned by a listed company came to 7.8, up from 7.4 for the fiscal year 2014," the FSS said.

Among the total, 6,330, or 61.3 percent, were located abroad.

Nearly half of the 100 largest firms by consolidated assets had subsidiaries in Asia. The number of those with subsidiaries in China edged up 0.4 percent to 845.


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