JEIL PHARMACEUTICAL and Jeil Pharma Holdings on the 24th each held regular shareholders meetings at their headquarters in Seocho-gu, Seoul, and approved key agenda items, including the financial statements and the appointment of directors.
JEIL PHARMACEUTICAL last year posted, on a consolidation basis, sales of 567.2 billion won, operating profit of 20.7 billion won, and net profit of 32 billion won. The company said profitability improved thanks to an expanded product-centered sales structure and a better cost ratio.
At the meeting, inside directors Seong Seok-je and Han Sang-cheol were reappointed, and Kim Seong-hoon, production adviser at Otsuka Pharmaceutical Korea, was newly appointed as an outside director. Kim will also serve on the audit committee. Outside director Kim Wang-seong (representative tax accountant at SeyeonTax Tax Corporation) was also reappointed to the audit committee.
Chief Executive Seong Seok-je said, "We have reorganized our business structure from a merchandise focus to our own products," and added, "We will strengthen our growth base through the new drug "Ja Q Bo" and our research and development pipeline."
Jeil Pharma Holdings also reported at the shareholders meeting that it posted sales of 657.6 billion won, operating profit of 38.7 billion won, and net profit of 34.6 billion won. The company said it returned to the black thanks to improved results at subsidiaries and streamlined business structure.
Inside directors Moon Bong-hee and Lee Ju-hyeon were reappointed, and inside director Min Gyeong-ryul was newly appointed. Outside director Jeon Seung-bae (representative tax accountant at Hwain Tax Corporation) was reappointed to the audit committee. A cash dividend of 70 won per common share was also finalized.
Chief Executive Han Sang-cheol said, "We have improved our fundamentals through upgrading our business structure and strengthening internal capabilities," and added, "This year, we will enhance shareholder value through risk management and efficient operations."
The two companies also said they strengthened shareholder-friendly policies by revising their articles of incorporation to refine rules on financing and treasury shares and to improve procedures for dividends.