OTOKI CORPORATION Files Corporate Governance Report: Maintains 9,000 Won Dividend Amid 55% Net Profit Plunge, Sustains Shareholder Return Policy
Consolidated revenue up 3.8% to KRW 3.6745 trillion, but operating profit fell 20% to KRW 177.3 billion and net profit plunged 55% to KRW 72.1 billion, showing deteriorating profitability
Maintained cash dividend at KRW 9,000 per share (same for 3 consecutive years); consolidated payout ratio surged to 44.7% from 22.6% due to lower net income
No share buyback or cancellation; largest shareholder holds 49.88%, minority 32.78%
Complied with 13 out of 15 core corporate governance indicators (e.g., 4-week advance AGM notice, electronic voting, removal of cumulative voting exclusion clause)
At the 55th AGM, approved charter amendments including removal of cumulative voting exclusion, effective from September 2026 onwards
External auditor Seonghyeon Accounting Corp. gave unqualified opinion on internal controls; audit committee consists of 4 independent directors (all outside directors)
Announced value-up plan (March 27, 2026): maintain stable CAPEX, review mid-to-long-term dividends, expand overseas sales, new Anyang plant completion in 2027
[AI Comprehensive Analysis]Maintaining dividends despite sharp profit decline is positive, but deteriorating profitability weighs on stock price; governance improvements enhance trust but provide limited near-term momentum