November 1, JYP announced their new rock band Xdinary Heroes, which released their debut digital single "Happy Death Day" on December 6. Then on January 26, 2022, JYP announced that they would be debuting a new girl group named Nmixx on February 22, with their debut single album, Ad Mare. On February 10, 2022, JYP expanded their strategic partnership with Republic Records after Twice started to succeed in the United States. Following the announcement, Republic signed Stray Kids and Itzy under the label for American promotions. In April 2022, it was reported that the market cap of JYPE had soared from 1.33 trillion KRW in the previous year to 2.24 trillion KRW, an increase of 1 trillion KRW in the first three months of 2022. The Korea Exchange reported that the company's stock prices soared to 66,200 KRW on April 8, breaking its all-time record and marking the first time that JYP Entertainment has entered the 60,000 KRW range since its listing in August 2001. On July 12, 2022, all members of Twice renewed their contracts with JYP Entertainment. On September 26, 2022, all members of Day6 also renewed their contracts with the label. Joint ventures Music distribution JYP Entertainment's records are distributed worldwide by The Orchard since March 2019. KMP Holdings and KT Music In March 2010, KMP Holdings was established via a joint venture between JYP, SM Entertainment, YG Entertainment, Star Empire, Media Line, CAN Entertainment, and Music Factory Entertainment. KMP Holdings was acquired by KT Music in November 2012, and in June 2013, KT Music absorbed KMP's distribution network. In January 2014, the seven talent agencies behind KMP Holdings formed a collective bond partnership and bought 13.48% of KT Music's stocks, leaving KT Corporation with 49.99%. United Asia Management In 2011, JYP joined forces with SM, YG, KeyEast, AMENT, and Star J Entertainment to form United Asia Management in an effort to promote Korean pop music internationally. FLO On January 31, 2018, Iriver announced its entry into the Korean music industry. Together with parent company SK Telecom and music labels SM, JYP and Big Hit Entertainment, the company launched a new online music store, FLO, in the second half of 2018. Beijing Shinsung Entertainment On April 5, 2017, Ocean Music and JYP jointly established the Beijing Xin Sheng Entertainment Co., Ltd. for indoor recreational facilities operation, organization of cultural and artistic exchanges, film and television planning, and