Mr. Blue Decides to Buy Back 2 Billion KRW Worth of Treasury Shares... "Part of Shareholder Return"

Mr. Blue announced on the 6th that it has signed a trust contract for treasury shares worth 2 billion KRW as part of shareholder returns and responsible management. The trust contract period is from today until May 6, 2024. Treasury share purchases will be conducted over six months.

A company official stated, “All business divisions, including webtoons, web novels, and games, possess competitive IP (intellectual property), which we believe has high future value,” adding, “We decided to acquire treasury shares as part of responsible management to stabilize the undervalued stock price and enhance shareholder value.”

Mr. Blue secured original web content IP by acquiring two web novel subsidiaries early last year. Along with existing webtoons, the company is building an OSMU (One Source Multi-Use) value chain that creates added value based on IP.

The game business, which has served as a cash cow, is also progressing smoothly. In 2019, the subsidiary Blue Potion Games’ self-developed mobile MMORPG (Massively Multiplayer Online Role-Playing Game) 'EOS Red' achieved successful box office results and secured a solid fan base. Thanks to EOS Red, Blue Potion Games grew into a company with sales exceeding 40 billion KRW within two years of its establishment.

The company emphasized, “We are steadily developing the sequel, EOS Black, utilizing the EOS IP,” and added, “We will secure many revenue sources using the IP, such as dramas, movies, and merchandise, to lead the company’s sustainable growth.”

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