1. What Happened? : Stock Buyback Announcement

T&L announced on September 23, 2025, a ₩10 billion stock buyback program through a trust agreement. This represents 2.46% of total outstanding shares and will be executed through Korea Investment & Securities from September 24, 2025, to September 23, 2026. The official objective is to stabilize stock prices and enhance shareholder value.

2. Why the Buyback? : Background and Positive Impacts

  • Stock Price Defense: A defensive strategy against the recent stock price decline, aiming to establish downside rigidity through the buyback.
  • Enhancing Shareholder Value: Reducing the number of outstanding shares can increase earnings per share (EPS) and book value per share (BPS), providing tangible benefits to shareholders.
  • Demonstrating Confidence in New Business: It can be interpreted as a signal of confidence in future growth, particularly with the new microneedle patch business venture.

3. What’s Next? : Analyzing Positive/Negative Scenarios

  • Positive Scenario: The buyback stabilizes the stock price, and as new business performance becomes visible, investor sentiment improves, leading to potential stock price appreciation.
  • Negative Scenario: The buyback’s effect is short-lived, and without improved earnings, the stock price could decline again. The ₩10 billion investment’s potential negative impact on future R&D and facility investment should also be considered.

4. What Should Investors Do? : Action Plan

While the buyback might positively impact the stock price in the short term, mid-to-long-term investment decisions should be made after carefully observing new business performance and earnings improvement. Investors should continuously monitor T&L’s financial soundness and new business strategy to determine the appropriate investment timing.