Daewon Media Co., Ltd. announces an Equity Buyback for KRW 2,000 million worth of its shares.
April 18, 2019 at 02:03 am EDT
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Daewon Media Co., Ltd. (KOSDAQ:A048910) announces a share repurchase program. Under the program, the company will repurchase up to KRW 2,000 million worth of its shares pursuant to a contract with Daishin Securities Co. Ltd. The purpose of the program is to improve shareholder value and to stabilize stock price. The program will expire on April 18, 2020. As of April 17, 2019 , the company had 267,668 shares in treasury within scope available for dividend and had no shares in treasury through other repurchase.
DAEWON MEDIA CO.,LTD. is a Korea-based company engaged in the animation business. It operates four business divisions. Its animation production division creates imports and distributes animations. Its character licensing and merchandising division provides toys, character goods, games and trading card games, as well as star collection cards. Its game division develops game software under the brand name of Nintendo, and online games, based on animation characters, including Crayon Shin-Chan, Slam Dunk, Power Rangers and others. Its digital contents distribution platform division provides digital contents such as comics, animations and games via its platform. Through its subsidiaries and affiliates, it involves in the animation broadcasting, game terminal and software distribution, and cartoon publishing. On February 28, 2014, it sold all its shares of Bandai Korea Co., Ltd., which is engaged in the design, manufacturing and sales of toys, play equipment and exercise equipment.
DAEWON MEDIA CO., LTD. 
