Studio Mir "First Ever Share Buyback Decision Since Establishment"

Studio Mir, a KOSDAQ-listed company, has decided to repurchase its own shares for the first time since its founding, aiming to increase corporate value in the mid to long term.

Studio Mir announced on the 2nd that its board of directors held a meeting and decided to repurchase treasury shares worth a total of 3 billion KRW. This move is intended to minimize the impact of the somewhat unstable financial market recently, regardless of the company's intrinsic value, and to continue responsible management to enhance shareholder value.

The company explained that its animation production content business targeting global OTT platform partners has shown visible performance results since the second half of this year.

Yoo Jae-myung, CEO of Studio Mir, said, "Although the company’s growth continues, we will enhance shareholder value and engage in responsible management so that corporate value is not distorted solely by stock market conditions." He added, "We are confident that the decision to repurchase treasury shares will lead to mid- to long-term corporate value growth when Studio Mir’s value, recognized in the global animation market, is reflected in the market."

Having secured all three major global OTT companies as partners, Studio Mir has been continuing its order activities by signing mid- to long-term animation content production contracts until recently. The company also explained that it is actively discovering promising IPs based on the 25 billion KRW raised through its listing on the KOSDAQ market earlier this year.

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