[Edaily Reporter Shin Ha-yeon ] NanoenTek,Inc.(039860)is set to repurchase 5 billion won worth of its own shares to expand shareholder returns and enhance corporate value. The company plans to cancel all repurchased shares.

NanoenTek,Inc. announced that it held a board of directors meeting on the 1st and decided to repurchase 5 billion won worth of its own shares. The number of shares to be repurchased is 1,273,885, based on the previous day’s closing price.

The share buyback will be conducted through on-market purchases via a trust agreement. The buyback period will last approximately six months, from today through February 28 of next year. The company plans to cancel all acquired shares, with the specific timing of the cancellation to be determined by a future board resolution.

Typically, the repurchase and cancellation of treasury stock—a process in which a company buys back its own shares and then cancels them to reduce the number of outstanding shares—is considered a key shareholder return policy that increases per-share value.

Based on its recent improvement in performance, NanoenTek,Inc. has announced a policy to expand shareholder returns. Following last year’s consolidated revenue of 38.1 billion won and net income of 1.6 billion won, revenue for the first half of this year reached 23.0 billion won, a 35.8% increase compared to the same period last year. Net income turned positive, reaching 3.6 billion won.

In the second quarter, revenue reached 12.5 billion won, a 39.4% increase year-over-year, and net income turned positive at 2.1 billion won. The company explained that this growth was driven by expanded equipment supply in its Life Sciences (LS) and In Vitro Diagnostics (IVD) businesses, as well as increased sales of consumables.

A NanoenTek,Inc. official stated, “We will strengthen our competitiveness in the life sciences and in vitro diagnostics markets while expanding shareholder-friendly management through the acquisition of treasury stock,” adding, “We will enhance corporate value through transparent corporate governance and various shareholder return policies.”