Polaris Uno Acquires Treasury Shares... "Enhancing Shareholder Value and Confidence in Growth"

[Asia Economy Reporter Hyungsoo Park] Polaris Uno announced that it will acquire 1.3 million shares of treasury stock.

A company official explained, "Considering the improvement in performance and corporate value, we believe the current stock price is undervalued," adding, "Based on confidence in enhancing shareholder value and increasing corporate value, we decided to acquire a large amount of treasury stock."

Founded in 1999, Polaris Uno is a specialized manufacturer of synthetic yarns for wigs. The company sells various products overseas, including its main product, braid yarn, as well as brushes and artificial eyelashes. Sales have increased in Africa, including Nigeria, leading to strong performance in the first quarter.

The expansion of reopening policies worldwide and the rise in the won-dollar exchange rate have also positively impacted the improved performance. As these products are considered essential for Black women, increased outdoor activities have rapidly boosted sales.

A Polaris Uno official stated, "We will continue efforts to secure future growth engines, including entering the hair loss market," and emphasized, "We will strive to enhance shareholder value through treasury stock acquisition and other measures going forward."