J. Stephan Submits Appropriate Audit Report... "Concerns Over Designation as Management Item Resolved"

[Asia Economy Reporter Hyunseok Yoo] J. Stefan announced on the 19th that it has submitted an audit opinion report with a "fair" rating. Last year, on a separate basis, sales and operating profit recorded 24.87 billion KRW and 890 million KRW respectively, dispelling concerns about being designated as a management item and is expected to accelerate performance improvement in earnest.

J. Stefan is experiencing an increase in new customers thanks to the success of its core business's "selection and concentration strategy," and plans to focus on improving profitability through business division restructuring and fixed cost reduction as well as sales growth this year. The company aims to launch more than two new mobile printer products this year, raising expectations for expanding orders of profitable mobile printers.

A company official said, "J. Stefan minimized costs through intensive restructuring and fixed cost reduction last year and focused on the highly profitable mobile printer business, resulting in growth in both scale and profit," adding, "We aim for 100% sales growth compared to last year through increased mobile printer orders by expanding new customers and continuous business division restructuring."

Also, since the reason for designation as a management item has been resolved, J. Stefan plans to focus on eliminating financial risk factors. By conducting a free capital reduction, fundamental improvement of the financial structure through deficit compensation is expected to begin in earnest. To expand the reduced number of outstanding shares due to the capital reduction, the par value per share will be split from 1,000 KRW to 500 KRW.

A J. Stefan official explained, "With the potential concern of capital erosion through deficit compensation resolved and financial soundness secured, we will respond more flexibly to the global mini printer market, secure our own competitiveness, and carry out more aggressive sales activities," adding, "We will devote ourselves to growth to enhance shareholder value through global market expansion and performance improvement."

This content was produced with the assistance of AI translation services.