[Edaily Reporter Kwon Oh-seok] #Codi, a company specializing in color cosmetics, announced on the 19th that it has decided to cancel all 30,491 of its treasury shares. The cancellation is valued at approximately 700 million won, and is scheduled to take place on the 26th.

This treasury stock cancellation is part of a corporate value enhancement strategy pursued since the stock consolidation last March and is seen as a measure aligned with the “value-up” trend in the KOSDAQ market.
Once the cancellation is complete, the total number of issued shares will decrease from the current 11,102,175 shares to 11,071,684 shares. Consequently, the company expects this to increase the value per share by reducing the number of shares in circulation. However, since this is being carried out through the cancellation of treasury stock, there will be no change in the company’s capital stock.
The company explained that this decision reflects its commitment to simultaneously enhancing shareholder value and corporate value. It plans to continue strengthening communication with the market and reviewing additional shareholder return policies.
On the business front, the company is also accelerating efforts to improve its product portfolio. A Kodi official stated, “We have been strengthening our research and development efforts to mitigate the seasonality evident in our existing sales structure, which is centered on point makeup,” adding, “We expect improved performance in the second half of the year, driven primarily by base makeup products.” The official continued, “We will continue to communicate our enhanced corporate value to the market through proactive investor relations (IR) activities.”