Pack” size packaging (grilled and crispy seaweed), the “Big Sheet” (roasted seaweed) and “Whey Protein” products for health conscious consumers. In June, our seaweed products own 66 percent of all

following; JV Company Name Beans and Brown Co., Ltd (“Beans and Brown”) Nature of Business The Joint Venture Company engages in Food and Beverage Business under the brand “Casa Lapin” and Trademark “Casa

- Translation - Ref: IR62/012 13 November 2019 Subject: Notification of Board Resolution on Investment in Beans and Brown Co., Ltd and Set up new subsidiary of J Venture Co., Ltd To: The President

thanks to the marketing activities by way of the launch of new products (crispy seaweed and grilled seaweed, Kimchi Flavor), the expansion of Taokaenoi Land Shop, The Market Branch, and the utilization of

., 2018; CALISKAN et al., 2020) •Naive Portfolio •Minimizes risk without sacrificing expected returns(Tang, 2003) •Optimal strategy(Bock, 2018;Brown et al., 2013;li, 2018) 6 Background(Cont.) •Mean variance

• A related strand of research focuses on price clusters. • Many studies have found that the stock prices tend to cluster around particular numbers (e.g. Harris (1991), Aitken et al. (1996), Brown et al

Goetzman&Ibbotson (1994) Nonparametric contingency table Yes Brown&Goetzman (1995) Nonparametric contingency table Yes Carhart (1997) 4-factor model momentum Yes Bollen&Busse (2005) 4-factor model momentum

popularity of grilled buffet and café-style restaurants. Although the economic slowdown and severe competition in the restaurant industry resulted in the decrease of same store sales, the Group focused efforts

an intention to transition away from less-brown fossil-fuel sources (such as natural gas) to a waste-to-energy approach. In Sustainalytics’ view, such a transition could be strengthened by adding

’ attention and increase a firm’s investment visibility (Brown et al., 2009). Main Explanations Growth and Risk – What? • Although growth and risk seem as two distinct inputs, recent research suggests they are