Joyworks&Co Conducts 5-to-1 Reverse Stock Split to Stabilize Share Price and Enhance Shareholder Value

Joyworks&Co announced on the 17th that its board of directors has resolved to conduct a reverse stock split at a ratio of 5 to 1.

As a result of this decision, the par value per share will be increased from 100 won to 500 won. Accordingly, the total number of issued shares will decrease from 24,487,048 to 4,897,410.

The company explained that this reverse stock split is intended to address the perception of its shares as penny stocks in the market and to enhance share price stability. In addition, the company is reviewing further measures to increase shareholder value, with a free capital increase also being discussed as one potential option.

On the business side, Joyworks&Co is accelerating efforts to strengthen its competitiveness in the furniture business. Its affiliate brand, Lady Furniture, has launched a new mattress brand, Sonnidoro, to mark its 50th anniversary and to enter the sleep furniture market. The company has expanded its product lineup by adding a mattress category to its previously daybed-focused portfolio, and is also strengthening customer engagement through offline experience zones.

A company representative stated, "We are reviewing a variety of measures to enhance both investor trust and shareholder and corporate value," adding, "We are also actively considering shareholder return policies such as a free capital increase, based on our stable financial capacity."

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