ICH to Resume Trading on October 22 After Reverse Stock Split, "Ramping Up Efforts to Improve Earnings and Enhance Corporate Value"
Advanced materials and components company ICH has completed a 5-for-1 reverse stock split, and trading in its shares will resume on October 22. Having completed its capital restructuring, the company plans to accelerate earnings growth and enhance its corporate value by securing new customers and expanding the applications for its products.
ICH announced on October 20 that it had completed the 5-for-1 reverse stock split approved at an extraordinary shareholders' meeting in August. The split reduced the total number of shares issued to approximately 5.16 million.
The company decided to carry out the reverse stock split to maintain an appropriate number of shares in circulation, improve share price stability, and enhance shareholder value. Trading is scheduled to resume on October 22.
Following the capital restructuring, ICH will focus its efforts on improving earnings. The company has already completed cost-efficiency measures to reduce fixed expenses and is working to secure new customers and expand the applications for its existing materials and components to increase revenue.
New orders are also continuing to come in. ICH secured an order for materials for foldable phones from a global smartphone manufacturer and began full-scale mass production in the second half of the year. It has also secured new orders in the materials and components segment for products used in humanoid robots and automobiles, laying the groundwork for further growth.
ICH expects its earnings to improve gradually from the second half of the year as it expands its customer base and the industries it serves. Its strategy is to drive a reassessment of its corporate value by boosting actual business performance alongside its capital restructuring through the reverse stock split.
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A company official said, "Now that we have completed the reverse stock split to enhance shareholder value, we will work to secure a reassessment of our share price through improved earnings. The results of our efforts to secure new customers and expand the applications for our products are becoming visible, and we expect earnings to increase gradually from the second half of the year."
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