Tovis Proposes Spin-Off of Automotive Display Business into New Company Neovue

Tovis seeks shareholder approval at the June 2, 2026 meeting to spin off its automotive electronics display business into a new company 'Neovue (tentative)' with a spin-off ratio of 0.3536822.
Post-spin-off, Tovis will focus on casino monitors and Neovue on automotive displays to enhance competitiveness and corporate value.
Neovue is expected to be re-listed on KOSDAQ on July 20, 2026; Tovis will undergo a change listing.
Spin-off reference financial statements (June 30, 2025): Neovue net assets 95.6 billion won, total assets 184.8 billion won, total liabilities 89.2 billion won.
Tovis standalone 2025 revenue 564.0 billion won, operating profit 43.4 billion won, net income 32.9 billion won (decrease YoY).
Tovis consolidated 2025 revenue 640.3 billion won, operating profit 57.2 billion won, net income 44.7 billion won.
Major litigation: claim by Nature&People for damages 0.67 billion won + USD 0.5 million (first trial pending); Tovis loan claim 0.2 billion won (awaiting trial).
Board election agenda: new appointment of internal director Kim Yong-soo (CFO) and outside director Kang Shin-sook (former Suhyup Bank CEO).
Tovis capital reduction post-spin-off: from 8.36 billion won to 5.72 billion won (share consolidation 0.6463178:1) with reserve decrease.
Neovue capital 2.64 billion won, reserves 92.92 billion won, authorized shares 100 million, par value 500 won.