Comprehensive animation company ANIPLUS is moving to acquire 2 billion won worth of treasury shares. The company plans to address the stock's undervaluation while using the acquired shares for employee compensation to enhance corporate value. ANIPLUS disclosed on the 29th that its board decided on the 2 billion won treasury share buyback.
According to the company, ANIPLUS's share price has dropped by approximately 35% compared to mid-August, affected by shrinking investment sentiment in the content market. ANIPLUS determined that its current share price is at a significantly low level when considering key metrics such as price-to-earnings and enterprise value relative to cash generation capabilities. Starting with this buyback, the company plans to respond proactively by continuing to repurchase shares whenever it deems the stock to be undervalued in the future.
The company is also accelerating the restructuring of its business and organizational structure. ANIPLUS merged with Animax Broadcasting Korea in June and appointed the former Chief Strategy Officer (CSO) of Laftel as ANIPLUS's CSO starting in July to drive business and organizational alignment and integration between the two entities. It is also seeking changes to its business structure, which previously focused on broadcasting and VOD distribution. Centered on Laftel, ANIPLUS plans to build an online and offline fandom platform spanning OTT and commerce, leveraging it to accelerate its global expansion.
Treasury stock will also be utilized in the employee compensation system. ANIPLUS is introducing a mid-to-long-term Restricted Stock Unit (RSU) system to use the acquired shares for executive and employee compensation. Under this scheme, a portion of the annual salary increase will be paid in stock subject to transfer restrictions for a set period. The company explained that this will incentivize key talent to contribute to long-term performance while aligning the interests of the company, its employees, and its shareholders.
Jeon Seung-taek, CEO of ANIPLUS, said, "Major changes are currently being prepared across our organization, business, partnerships, and IR activities, and tangible results will begin to show within this year." He added, "We will surely reward the shareholders who have trusted and waited through the undervalued period by enhancing corporate value."
