JOLSE (formerly Barunson) reports Q1 2026 consolidated operating loss of KRW 1.36 billion; pushes capital reduction and bond buyback to improve financial structure

Consolidated revenue KRW 11.19bn (down 34% QoQ), operating loss KRW 1.36bn (swing from profit KRW 0.75bn in prior quarter)
Net loss KRW 0.94bn (vs net profit KRW 1.60bn in prior quarter), EPS loss KRW 27
Debt-to-equity ratio 45.36% (down from 48.12% at year-end), net debt-to-equity ratio negative (cash > borrowings)
Completed 3:1 capital reduction on Apr 14, 2026; decided to buy back KRW 0.6bn exchangeable bonds before maturity (Mar 27, 2026)
Beauty segment revenue KRW 10.38bn (92.7% of total), operating loss KRW 0.44bn
Film, VFX and other segments all reported operating losses: film -KRW 0.38bn, VFX -KRW 0.49bn, other -KRW 0.04bn
Trade receivables allowance rate 37.3%; most related-party receivables fully provided
Three pending lawsuits with total claim KRW 4.61bn
Largest shareholder Barunson E&A (29.92%); CEO Kang Shin-bum resigned in March 2026

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