Nexon announced Monday that it has invested 92.4 billion yen (about $ 874 million) in companies such as Hasbro, Bandai Namco Holdings, Konami Holdings and Sega Sammy Holdings. Nexon also invested in other companies, but the investments did not meet the company’s disclosure threshold. The company added that it had no intention of pursuing acquisitions or activism through these long-term investments.
Nexon’s board authorized in 2020 up to $ 1.5 billion for investments in entertainment companies that demonstrated the ability to develop and maintain globally recognized intellectual property. The company posted a profit of 29.5 billion yen (about $ 279 million).
In 2020, Nexon generated revenue of 293 billion yen (about US $ 2.7 billion) and an operating cash flow of 137.6 billion yen (about US $ 3.7 billion). As of December 31, the company has 525.7 billion yen (about US $ 4.8 billion) on its balance sheet.
Nexon Co., Ltd. is a South Korean and Japanese video game publisher specializing in online games for PC and mobile devices. It maintains more than 80 titles. Nexon was founded in Seoul, South Korea in 1994 by Kim Jung-Ju and Jake Song. In 2005, the company moved its headquarters to Tokyo, Japan. As of March 2020, it is the largest gaming company in South Korea and the third-largest gaming company in Asia outside of Japan in terms of revenue and market capitalization, after Tencent and NetEase in China, ahead of Netmarble. , 37 Entertainment and NCSoft.
Source – Nexon, Siliconera Via Animenewsnetwork
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