★★

TOVIS

Credit rating upgraded to BBB+, 909,215 shares cancelled, spin-off re-listing approved


  • Credit rating upgraded from BBB0 to BBB+ by NICE D&B as of March 31, 2026.
  • Completed cancellation of 909,215 treasury shares (previous holdings 779,797 + additional acquisition 129,418), resulting in zero treasury shares.
  • Planned spin-off effective July 1, 2026; new entity Neoview received approval for re-listing requirements from KRX on March 12, 2026.
  • Consolidated revenue: 169.7 billion won (+10.4% QoQ), operating profit: 15.5 billion won (+28.5% QoQ), net income attributable to parent: 16.0 billion won, EPS: 1,074 won.
  • Debt ratio: 85.5% (vs 82.8% at year-end 2025), total borrowings: 125.2 billion won, cash and cash equivalents: 50.0 billion won.
  • Disclosed 3-year shareholder return policy: 10% of separate net income as cash dividend, 20% for treasury share acquisition and cancellation.
  • Pending lawsuit: Company J claims damages of 666 million won and USD 502,420; first trial ongoing.
  • Customer concentration: top 3 customers (A, B, C) account for 60.25% of revenue, with single largest customer A at 33.04%.

KOSDAQ Filing Information


  • Filing: Quarterly Report (2026.03)
  • Company: TOVIS (051360)
  • Submission: TOVIS Co., Ltd.
  • Receipt: 04-27-2026