Innolight Completes Absorption Merger of Subsidiary BESL…Using Small-Scale No-Issue Method

Innolight (091120), a producer of smartphone audio equipment, completed the absorption merger of its subsidiary BESL on July 24, 2026, following board resolutions dated May 26, 2026, and merger registration on July 27, 2026. The merger, conducted under Korea's Company Law Article 527-3 as a small-scale no-issue merger, retains Innolight's ownership of 100% of BESL's issued shares without issuing new stock. Dissenting shareholders totaled 470, representing 10.97% of shares, but no creditor objections were raised. Innolight's financials as of December 2025 show assets of KRW 340.5 billion, liabilities of KRW 143.8 billion, and revenue of KRW 205.1 billion, with a net loss of KRW 11.9 billion. The stock closed at KRW 4,020 on July 24, 2026, up 0.5% from the prior day.