Display specialist Tovis will acquire 2 billion won worth of treasury shares and cancel all of them. The company said on Jan. 9 it disclosed the decision after holding a board meeting.

It plans to cancel all shares immediately after the acquisition is completed to make the shareholder return effect visible. The buyback will be carried out through on-exchange purchases from Jan. 12 to Feb. 20.

Tovis announced a "three-year shareholder return policy" at the end of last year. From 2026 to 2028, it plans to allocate about 30 percent of standalone net profit to shareholder returns over three years. The funds will be used for share buybacks and cancellations and cash dividends. The company previously cancelled all 779,797 treasury shares it held on Jan. 7.

The company stressed this is a continuous strategy to enhance shareholder value, not a short-term event. It plans to raise market trust through the move. Share cancellations are one shareholder return tool that can improve earnings per share (EPS).

Kim Yongsoo, Tovis chief financial officer, said the decision to acquire treasury shares is the first implementation measure under the three-year shareholder return policy announced at the end of last year. He said it is an expression of its willingness to keep its promise to shareholders based on practical execution and continuity.

He also stressed that it will continue to communicate actively with the market, consider ways to enhance shareholder value and keep buying back and cancelling shares to realise the maximisation of long-term shareholder value.