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Nexon Releases Earnings for Third Quarter 2023

Record-Breaking Q3 Revenue and Operating Income;
Sixth-Straight Quarter of Double-Digit YoY Revenue Growth

Embark Studios’ THE FINALS Ready for Release This Year

Junghun Lee Nominated to Succeed Owen Mahoney as CEO in March 2024

TOKYO–(BUSINESS WIRE)–NEXON Co., Ltd. (Nexon) (3659.TO), a global leader in Virtual Worlds, today announced financial results for its third quarter ended on September 30, 2023.


“Nexon is tracking to finish the year with seven consecutive quarters of double-digit revenue growth,” said Owen Mahoney, President and CEO of Nexon. “And following an incredibly popular and successful open-beta test, THE FINALS is ready to launch this year – the first in an exciting line up of new titles in development that include ARC Raiders and The First Descendant, as well as Embark’s new creative platform. For our investors, this translates to an asymmetric upside opportunity with existing franchises delivering steady revenue and new releases offering potential for step-function growth.

“Today we also announced that after an enormously gratifying decade as Nexon’s CEO, I will be stepping down in March – a decision that has been in the works for some time. Following a transition period and a vote at our Annual Shareholders Meeting in March, company veteran Junghun Lee will begin a new generation of leadership as Nexon’s CEO.”

Recent Highlights Include:

Fourth Quarter 2023 Outlook:

Conference Call (Japanese & English)

Nexon management will host a conference call for investors, analysts and the media to discuss the company’s financial results and outlook. The conference call will be held at 5:00 p.m. JST / 3:00 a.m. EST and will be simultaneously conducted in Japanese and English. It will consist of brief remarks made by the management team followed by a Q&A session. The Q&A session will be conducted with consecutive translations.

Time: November 9, 2023, at 5:00 p.m. JST / 3:00 a.m. EST

Pre-registration Required

Please register from the link below. Passcode and PIN code will be provided upon registration.

To register, please go to Registration Page: https://eng-services.choruscallasia.com/DiamondPassRegistration/register?confirmationNumber=9413178&linkSecurityString=17a0e2e492

(Please note that the link is accessible on Google Chrome, Mozilla Firefox, Microsoft Edge (Chromium) only.)

Telephone Number

+81-50-5824-9210(Japan), +1-646-661-3380(US),
+44-20-3695-1891(UK), +852-580-87206(Hong Kong),
+65-315-87696(Singapore), +82-23-483-3906(Korea)
*Passcode and PIN code will be required to join the call

If you have any questions, do not hesitate to contact at the e-mail address or telephone number below:

E-mail:customer_support_asia@choruscall.com
Phone: +(81)50-5824-9227
Weekdays 8:30 a.m. – 6:00 p.m. JST.

Audio Archive and Transcript

An audio archive and a transcript will be available on Nexon’s Investor Relations website at https://ir.nexon.co.jp/en/ after the earnings conference call.

This press release is prepared to offer reference information about Nexon to investors and is intended to generally provide investors and analysts with financial and operational information about Nexon, but not to solicit or recommend any sale or purchase of stock or other securities of Nexon.

About NEXON Co., Ltd. https://company.nexon.co.jp/en/

Founded in 1994, NEXON Co., Ltd. (Nexon) (3659.TO) is a company engaged in the production, development and operation of online games and Virtual Worlds. First listed on the Tokyo Stock Exchange in December 2011, Nexon was placed on JPX400 in 2015 and added to the Nikkei Stock Index 300 in 2017. In 2020, Nexon was added to the Nikkei 225. Nexon currently has more than 50 live games in more than 190 countries on PC, console, and mobile. Major game franchises include MapleStory, KartRider and Dungeon&Fighter. In 2021, Nexon completed the acquisition of Embark Studios AB, a company based in Stockholm, Sweden, developing multiple projects for global release.

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1
Constant currency is a non-GAAP measure used to show performance unaffected by fluctuations in foreign currency exchange rates. Constant-currency basis amounts are calculated using the average foreign currency exchange rates for the comparable period in the prior year and applied to the current period.
2 Official title is EA SPORTS FC™ MOBILE.
3 Localized version of MapleStory M in China.
4 Net income refers to net income attributable to owners of the parent.
5 As a result of finalizing the provisional accounting treatment for a certain investment where the equity method is applied, “Equity loss of affiliates, equity method companies” increased by 2.1 billion yen and “Net income” decreased by 2.1 billion yen in Q3 2022. There is no financial impact on the annual performance of 2022.
6 Official title is EA SPORTS FC™ ONLINE.
7 “Rest of World” includes other Asian countries as well as Central and South American countries.
8 Nintendo Switch is a trademark of Nintendo.
9 In most situations, the exchange rates of both the South Korean Won and the Chinese Yuan are linked to the U.S. dollar. For simplicity, forex sensitivity is calculated based on the assumption that Korean Won and Chinese Yuan move similarly against Japanese yen when there is an exchange rate movement in US. dollar and Japanese yen.

Contacts

NEXON Co., Ltd. Corporate Communications
CorporatePR.Team@nexon.co.jp

Fonte BUSINESS WIRE

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