Reported Earnings • May 20
First quarter 2026 earnings released: EPS: JP¥72.33 (vs JP¥32.12 in 1Q 2025) First quarter 2026 results: EPS: JP¥72.33 (up from JP¥32.12 in 1Q 2025). Revenue: JP¥152.2b (up 34% from 1Q 2025). Net income: JP¥57.2b (up 118% from 1Q 2025). Profit margin: 38% (up from 23% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 2.8% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Annonce • May 17
NEXON Co., Ltd. to Report Q2, 2026 Results on Aug 13, 2026 NEXON Co., Ltd. announced that they will report Q2, 2026 results on Aug 13, 2026 Annonce • May 16
Nexon Co., Ltd. Provides Earnings Guidance for the Second Quarter of 2026 NEXON Co., Ltd. provided earnings guidance for the second quarter of 2026. For the quarter, the company expects revenue to be in the range of ¥107.0 billion to ¥119.7 billion, down 10% to up 1% year over year on an as-reported basis. Operating income in the range of ¥16.1 billion to ¥25.3 billion, down 57% to 33% year over year on an as-reported basis. Net income of ¥16.1 billion to ¥23.2 billion, down 4% to up 38% on an as-reported basis. Annonce • May 15
NEXON Co., Ltd. (TSE:3659) announces an Equity Buyback for 14,000,000 shares, representing 1.77% for ¥30,000 million. NEXON Co., Ltd. (TSE:3659) announces a share repurchase program. Under the program, the company will repurchase up to 14,000,000 shares, representing 1.77% of its issued share capital, for ¥30,000 million. The purpose of the buyback is to improve capital efficiency and to implement flexible capital management policy. The program will expire on July 31, 2026. As of April 30, 2026, the company had 792,881,641 ordinary shares in issue (excluding treasury stock) and no ordinary shares in treasury. Annonce • May 10
NEXON Co., Ltd. to Report Q1, 2026 Results on May 14, 2026 NEXON Co., Ltd. announced that they will report Q1, 2026 results at 9:00 AM, Tokyo Standard Time on May 14, 2026 Annonce • Feb 21
Nexon Appoints Patrick Söderlund as Executive Chairman NEXON Co., Ltd. announced that its Board of Directors has appointed Patrick Söderlund as Executive Chairman of the company. The appointment is effective immediately. Throughout his career, Söderlund has demonstrated the type of hands-on strategic and creative leadership that is needed to transform Nexon. In this newly created role, he takes on broad authority over the company’s long-term strategy, creative direction, and how Nexon develops games globally. He will work closely with CEO Junghun Lee and the executive leadership team as the company enters its next phase of growth. In this scenario, Söderlund sets the strategic direction and Lee implements the plans. Söderlund has spent more than two decades in the games industry. He built Embark Studios from scratch and led the team to the successful release of ARC Raiders®. He joined Nexon’s Board following the company’s investment in Embark in 2018. Prior to founding Embark, he led Electronic Arts’ (EA) global game development organization as Executive Vice President of Worldwide Studios. Earlier, Söderlund served as the CEO of Digital Illusions CE (DICE), the studio behind the Battlefield and Mirror’s Edge franchises before being acquired by EA in 2006. Annonce • Dec 03
NEXON Co., Ltd. to Report Fiscal Year 2025 Results on Feb 12, 2026 NEXON Co., Ltd. announced that they will report fiscal year 2025 results on Feb 12, 2026 Annonce • Aug 19
NEXON Co., Ltd. to Report Q3, 2025 Results on Nov 11, 2025 NEXON Co., Ltd. announced that they will report Q3, 2025 results on Nov 11, 2025 Reported Earnings • Aug 18
Second quarter 2025 earnings released: EPS: JP¥20.82 (vs JP¥47.67 in 2Q 2024) Second quarter 2025 results: EPS: JP¥20.82 (down from JP¥47.67 in 2Q 2024). Revenue: JP¥118.9b (down 3.0% from 2Q 2024). Net income: JP¥16.8b (down 58% from 2Q 2024). Profit margin: 14% (down from 33% in 2Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue is forecast to grow 4.1% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 4% per year whereas the company’s share price has fallen by 3% per year. Annonce • Aug 14
Nexon Co., Ltd. Provides Earnings Guidance for the Third Quarter of 2025 NEXON Co., Ltd. provided earnings guidance for the third quarter of 2025. For the period, the company expects revenue to be in the range of ¥116.6 billion to ¥127.1 billion, down 14% to 6% year over year on an as-reported basis, down 12% to 4% on a constant-currency basis. Expect operating income in the range of ¥32.7 billion to ¥41.2 billion, down 36% to 20% year over year on an as-reported basis. Expect net income of ¥26.4 billion to ¥32.8 billion, down 2% to up 21% on an as-reported basis. Annonce • Aug 13
NEXON Co., Ltd. (TSE:3659) announces an Equity Buyback for 11,000,000 shares, representing 1.37% for ¥25,000 million. NEXON Co., Ltd. (TSE:3659) announces a share repurchase program. Under the program, the company will repurchase up to 11,000,000 shares, representing 1.37% of its issued share capital, for ¥25,000 million. The purpose of the buyback is improve capital efficiency and ensure flexibility in capital policy. The program will expire on October 31, 2025. As of July 31, 2025, the company had 801,074,783 ordinary shares in issue (excluding treasury stock) and 22,467,100 ordinary shares in treasury. Annonce • Jun 13
Tencent Reportedly Studies Deal for $15 Billion Game Developer Nexon Tencent Holdings Limited (SEHK:700) is studying a potential deal for NEXON Co., Ltd. (TSE:3659), as the Chinese internet giant looks for ways to bolster its lucrative gaming operations, people with knowledge of the matter said. Shenzhen-based Tencent has reached out to the family of Nexon’s late founder Kim Jung-ju to discuss the possibility of an acquisition, the people said, asking not to be identified because the information is private. Kim’s family has been speaking to advisers and evaluating options, according to the people. Kim’s relatives hold their stake through family investment firm NXC Corp., which — together with affiliated unit NXMH BV — owned 44.4% of Nexon as of June 30, according to Nexon’s interim report. Kim’s wife and daughters own about 67.6% of NXC. It’s unclear how receptive NXC is to a sale of the Nexon holding, and there’s no certainty Tencent’s deliberations will lead to a transaction, the people said. The structure of any deal hasn’t been finalized, they added. A representative for Tencent didn’t respond to a request seeking comment, while Nexon and NXC declined to comment. Annonce • May 15
NEXON Co., Ltd. to Report Q2, 2025 Results on Aug 13, 2025 NEXON Co., Ltd. announced that they will report Q2, 2025 results on Aug 13, 2025 Annonce • Feb 18
NEXON Co., Ltd. to Report Q1, 2025 Results on May 13, 2025 NEXON Co., Ltd. announced that they will report Q1, 2025 results on May 13, 2025 Annonce • Dec 03
NEXON Co., Ltd. to Report Fiscal Year 2024 Results on Feb 13, 2025 NEXON Co., Ltd. announced that they will report fiscal year 2024 results on Feb 13, 2025 New Risk • Nov 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (14% net profit margin). Reported Earnings • Nov 15
Third quarter 2024 earnings released: EPS: JP¥32.55 (vs JP¥41.28 in 3Q 2023) Third quarter 2024 results: EPS: JP¥32.55 (down from JP¥41.28 in 3Q 2023). Revenue: JP¥135.6b (up 13% from 3Q 2023). Net income: JP¥27.0b (down 23% from 3Q 2023). Profit margin: 20% (down from 29% in 3Q 2023). Revenue is forecast to grow 6.4% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 14% per year and the company’s share price has also fallen by 14% per year. Valuation Update With 7 Day Price Move • Nov 14
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to €12.30, the stock trades at a forward P/E ratio of 14x. Average forward P/E is 15x in the Entertainment industry in Germany. Total loss to shareholders of 36% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €21.29 per share. Annonce • Nov 12
NEXON Co., Ltd. (TSE:3659) announces an Equity Buyback for 10,000,000 shares, representing 1.2% for ¥20,000 million. NEXON Co., Ltd. (TSE:3659) announces a share repurchase program. Under the program, the company will repurchase up to 10,000,000 shares, representing 1.2% of its issued share capital, for ¥20,000 million. The purpose of the buyback is to enhance capital efficiency and ensure flexibility in capital policy. The program will expire on January 31, 2025. As of October 31, 2024, the company had 831,244,229 ordinary shares in issue (excluding treasury stock) and 10,588,883 ordinary shares in treasury. Annonce • Aug 15
NEXON Co., Ltd. to Report Q3, 2024 Results on Nov 12, 2024 NEXON Co., Ltd. announced that they will report Q3, 2024 results on Nov 12, 2024 Reported Earnings • Aug 11
Second quarter 2024 earnings released: EPS: JP¥47.66 (vs JP¥28.80 in 2Q 2023) Second quarter 2024 results: EPS: JP¥47.66 (up from JP¥28.80 in 2Q 2023). Revenue: JP¥122.5b (up 30% from 2Q 2023). Net income: JP¥39.9b (up 63% from 2Q 2023). Profit margin: 33% (up from 26% in 2Q 2023). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.7% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has fallen by 1% per year and the company’s share price has also fallen by 1% per year. Declared Dividend • Aug 11
First half dividend of JP¥7.50 announced Shareholders will receive a dividend of JP¥7.50. Ex-date: 27th December 2024 Payment date: 28th March 2025 Dividend yield will be 45%, which is higher than the industry average of 1.4%. Payout Ratios Payout ratio: 15%. Cash payout ratio: 12%. New Risk • Aug 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 6.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.8% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (13% net profit margin). Buy Or Sell Opportunity • Aug 06
Now 26% undervalued Over the last 90 days, the stock has risen 15% to €17.40. The fair value is estimated to be €23.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 16% over the last 3 years. Earnings per share has grown by 8.5%. For the next 3 years, revenue is forecast to grow by 7.0% per annum. Earnings are also forecast to grow by 17% per annum over the same time period. Annonce • May 23
NEXON Co., Ltd. to Report Q2, 2024 Results on Aug 08, 2024 NEXON Co., Ltd. announced that they will report Q2, 2024 results on Aug 08, 2024 Reported Earnings • May 19
First quarter 2024 earnings released: EPS: JP¥42.77 (vs JP¥61.63 in 1Q 2023) First quarter 2024 results: EPS: JP¥42.77 (down from JP¥61.63 in 1Q 2023). Revenue: JP¥108.4b (down 13% from 1Q 2023). Net income: JP¥35.9b (down 32% from 1Q 2023). Profit margin: 33% (down from 43% in 1Q 2023). Revenue is forecast to grow 6.9% p.a. on average during the next 3 years, compared to a 5.2% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 9% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Annonce • May 15
NEXON Co., Ltd. (TSE:3659) announces an Equity Buyback for 15,000,000 shares, representing 1.78% for ¥30,000 million. NEXON Co., Ltd. (TSE:3659) announces a share repurchase program. Under the program, the company will repurchase up to 15,000,000 shares, representing 1.78% of its issued share capital (excluding treasury stock), for a total purchase price of ¥30,000 million. The purpose of the program is to improve capital efficiency and ensure flexibility in capital policy. The program will continue through July 19, 2024. As of April 30, 2024, the company had 840,530,116 issued shares (excluding treasury stock) and no treasury shares. Annonce • Apr 23
NEXON Co., Ltd.'s Highly Anticipated Dungeon&Fighter Mobile to Launch in China on May 21, 2024 NEXON Co., Ltd. announced that the eagerly anticipated Dungeon&Fighter Mobile is scheduled for release in China on May 21, 2024. Based on Nexon’s original IP and published by Tencent Games in China, Dungeon&Fighter Mobile, brings one of the world’s most successful game franchises to a nation with an enormous mobile games market. Originally launched in 2005, Dungeon&Fighter is one of the world’s most successful entertainment properties, with more than 850 million registered players worldwide, and life-to-date gross revenue well over USD 22 billion. Dungeon&Fighter Mobile is developed by Nexon’s NEOPLE INC., a studio that has led on the development of the massively popular PC game, Dungeon&Fighter. The game builds on the franchise’s iconic 2D arcade-style side-scrolling action gameplay, immersive multiplayer role-playing game elements, and continuously evolving storyline. Optimized for mobile devices, Dungeon&Fighter Mobile features the action-packed gameplay experience synonymous with this beloved franchise. Declared Dividend • Apr 11
Final dividend of JP¥5.00 announced Shareholders will receive a dividend of JP¥5.00. Ex-date: 27th June 2024 Payment date: 25th September 2024 Dividend yield will be 34%, which is higher than the industry average of 1.4%. Payout Ratios Payout ratio: 8%. Cash payout ratio: 7%. Reported Earnings • Feb 11
Full year 2023 earnings released: EPS: JP¥82.89 (vs JP¥115 in FY 2022) Full year 2023 results: EPS: JP¥82.89 (down from JP¥115 in FY 2022). Revenue: JP¥423.4b (up 20% from FY 2022). Net income: JP¥70.6b (down 30% from FY 2022). Profit margin: 17% (down from 28% in FY 2022). Revenue is forecast to grow 5.4% p.a. on average during the next 3 years, compared to a 4.3% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Annonce • Feb 10
NEXON Co., Ltd., Annual General Meeting, Mar 27, 2024 NEXON Co., Ltd., Annual General Meeting, Mar 27, 2024. Annonce • Feb 09
NEXON Co., Ltd. Provides Earnings Guidance for the First Quarter of Fiscal Year 2024 NEXON Co., Ltd. provided earnings guidance for the first quarter of fiscal year 2024. For the quarter, the company expects revenue in the range of ¥97.1 billion to ¥107.1 billion, down 22% to 14% year over year on an as-reported basis, down 27% to 19% year over year on a constant-currency basis. The company expects operating income of ¥15.2 billion to ¥23.4 billion and net income of ¥16.4 billion to ¥22.9 billion. Annonce • Feb 08
NEXON Co., Ltd. to Report Q1, 2024 Results on May 14, 2024 NEXON Co., Ltd. announced that they will report Q1, 2024 results on May 14, 2024 Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €18.20, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 12x in the Entertainment industry in Europe. Total loss to shareholders of 31% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €20.42 per share. Valuation Update With 7 Day Price Move • Jan 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €14.50, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 12x in the Entertainment industry in Europe. Total loss to shareholders of 41% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €20.44 per share. New Risk • Jan 17
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.0% average weekly change). Profit margins are more than 30% lower than last year (25% net profit margin). Buying Opportunity • Jan 16
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 1.3%. The fair value is estimated to be €20.04, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 6.9% per annum. Earnings is also forecast to grow by 9.4% per annum over the same time period. Buying Opportunity • Dec 23
Now 21% undervalued Over the last 90 days, the stock is up 1.8%. The fair value is estimated to be €21.46, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 23%. For the next 3 years, revenue is forecast to grow by 7.2% per annum. Earnings is also forecast to grow by 9.7% per annum over the same time period. Upcoming Dividend • Dec 21
Upcoming dividend of JP¥5.00 per share at 0.3% yield Eligible shareholders must have bought the stock before 28 December 2023. Payment date: 27 March 2024. Payout ratio is a comfortable 8.2% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (1.7%). Annonce • Dec 08
NEXON Co., Ltd. Announces the Immediate Release of THE FINALS NEXON Co., Ltd. announced the immediate release of THE FINALS, a new free-to-play, team-based shooter set in the ultimate combat entertainment game show. Developed by Nexon's Embark Studios in Stockholm, Sweden, THE FINALS is available now on Steam, Xbox Series X|S, and PlayStation 5. Season 1 of THE FINALS celebrates the glitz and glamor of Las Vegas with all the neon lights, slot machines, boxers, UFOs, plus an all-you-can-eat buffet of destruction and chaos, and the first hints of the mystery behind the world's most explosive game show. Additional arenas include Monaco on the banks of the French Riviera and the skyscrapers above Seoul, South Korea. A massively popular open beta last month skyrocketed THE FINALS into the most wishlisted game on Steam, establishing the title as THE hot new FPS. In THE FINALS, contestants compete in virtual arenas based on real-world iconic locations. They battle it out in fully destruction & movement technology that ensures every player experiences the action simultaneously - whether it's a piece of furniture being blown apart or an entire building collapsing. Players create their own, unique contestant -- from stealthy sword-wielding ballerinas to lethal pandas armed with rocket launchers. THE FINALS is availability now on Steam, the Xbox Game Store, and the PlayStation Store. For details, visit THE FINALS official website and SNS. Annonce • Dec 05
NEXON Co., Ltd. to Report Fiscal Year 2023 Results on Feb 08, 2024 NEXON Co., Ltd. announced that they will report fiscal year 2023 results on Feb 08, 2024 Annonce • Nov 10
NEXON Co., Ltd. (TSE:3659) announces an Equity Buyback for 15,000,000 shares, representing 1.75% for ¥30,000 million. NEXON Co., Ltd. (TSE:3659) announces a share repurchase program. Under the program, the company will repurchase up to 15,000,000 shares, representing 1.75% of its issued share capital (excluding treasury stock), for a total purchase price of ¥30,000 million. The purpose of the program is to improve capital efficiency and ensure flexibility in capital policy. The program will continue through February 16, 2024. As of October 31, 2023, the company had 856,254,321 issued shares (excluding treasury stock) and 7,225,500 treasury shares. Reported Earnings • Nov 10
Third quarter 2023 earnings released: EPS: JP¥41.28 (vs JP¥50.07 in 3Q 2022) Third quarter 2023 results: EPS: JP¥41.28 (down from JP¥50.07 in 3Q 2022). Revenue: JP¥120.3b (up 23% from 3Q 2022). Net income: JP¥35.2b (down 19% from 3Q 2022). Profit margin: 29% (down from 44% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Entertainment industry in Germany. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has fallen by 1% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €17.60, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 13x in the Entertainment industry in Europe. Total loss to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €20.45 per share. Buying Opportunity • Sep 20
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 2.8%. The fair value is estimated to be €21.79, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 7.0% per annum. Earnings is also forecast to grow by 6.5% per annum over the same time period. Buying Opportunity • Aug 15
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be €21.91, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 18%. For the next 3 years, revenue is forecast to grow by 6.5% per annum. Earnings is also forecast to grow by 6.5% per annum over the same time period. Annonce • Aug 12
NEXON Co., Ltd. to Report Q3, 2023 Results on Nov 09, 2023 NEXON Co., Ltd. announced that they will report Q3, 2023 results on Nov 09, 2023 New Risk • Aug 11
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 28% Last year net profit margin: 41% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 10
Second quarter 2023 earnings released: EPS: JP¥28.78 (vs JP¥28.10 in 2Q 2022) Second quarter 2023 results: EPS: JP¥28.78. Revenue: JP¥94.4b (up 12% from 2Q 2022). Net income: JP¥24.5b (flat on 2Q 2022). Profit margin: 26% (down from 29% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 2.3% growth forecast for the Entertainment industry in Germany. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥5.00 per share at 0.3% yield Eligible shareholders must have bought the stock before 29 June 2023. Payment date: 26 September 2023. Payout ratio is a comfortable 7.7% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of German dividend payers (4.7%). Lower than average of industry peers (2.1%). Annonce • May 21
NEXON Co., Ltd. to Report Q2, 2023 Results on Aug 09, 2023 NEXON Co., Ltd. announced that they will report Q2, 2023 results on Aug 09, 2023 Reported Earnings • May 17
First quarter 2023 earnings released: EPS: JP¥61.63 (vs JP¥36.77 in 1Q 2022) First quarter 2023 results: EPS: JP¥61.63 (up from JP¥36.77 in 1Q 2022). Revenue: JP¥124.1b (up 42% from 1Q 2022). Net income: JP¥52.8b (up 63% from 1Q 2022). Profit margin: 43% (up from 37% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Entertainment industry in Germany. Annonce • May 12
Nexon Co., Ltd. Provides Earnings Guidance for the Second Quarter 2023 NEXON Co., Ltd. provided earnings guidance for the second quarter 2023. For the period, the company expects revenues in the range of ¥88.4 to ¥96.7 billion, representing a 5% to 15% increase year over year on an as-reported basis and a 7% to 17% increase on a constant-currency basis; operating income in the range of ¥22.1 to ¥28.7 billion and net income in the range of ¥18.1 to ¥23.1 billion. Reported Earnings • Mar 30
Full year 2022 earnings released: EPS: JP¥115 (vs JP¥129 in FY 2021) Full year 2022 results: EPS: JP¥115 (down from JP¥129 in FY 2021). Revenue: JP¥353.7b (up 29% from FY 2021). Net income: JP¥100.3b (down 13% from FY 2021). Profit margin: 28% (down from 42% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.9% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Entertainment industry in Germany. Reported Earnings • Feb 12
Full year 2022 earnings released: EPS: JP¥115 (vs JP¥129 in FY 2021) Full year 2022 results: EPS: JP¥115 (down from JP¥129 in FY 2021). Revenue: JP¥353.7b (up 29% from FY 2021). Net income: JP¥100.3b (down 13% from FY 2021). Profit margin: 28% (down from 42% in FY 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.3% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Entertainment industry in Germany. Annonce • Feb 11
NEXON Co., Ltd., Annual General Meeting, Mar 24, 2023 NEXON Co., Ltd., Annual General Meeting, Mar 24, 2023. Annonce • Feb 10
NEXON Co., Ltd. Provides Earnings Guidance for the First Quarter of Fiscal Year 2023 NEXON Co., Ltd. provided earnings guidance for the First Quarter of fiscal year 2023. For the period, The company expects revenue in the range of ¥116.7 to ¥125.6 billion, representing a 28% to 38% increase year over year on an as-reported basis and a 19% to 28% increase on a constant-currency basis. Operating income is expected to be in range of ¥45.3 to ¥52.5 billion. Net income is expected to be in range of ¥34.4 to ¥39.8 billion. Annonce • Jan 20
NEXON Co., Ltd. Announces Midnight Witch Charon Descends from the Cosmos in Vindictus The midnight witch, Charon, is now available to play in Nexon's fantasy MMORPG Vindictus, making her the 22nd hero to enter the game. Little is known about the mysterious magician except her mission to find the "Truth" upon arriving in Colhen. Despite her cold disposition, she scours the battlefield looking for people to save. Her floating vessel, Orbis, accompanies her through battle, releasing powerful spells. Exclusive Weapon: Orbis, Charon's personal companion, can harness a stream of mana through the runes engraved on it, releasing destructive spells. Players can also manipulate spells in multiple ways by spending MP to overcharge the Orbis. Exclusive Equipment: Laniakea– Special equipment that improves the mobility that every magician needs. Charon's "Laniakea" armor accentuates her magic symbols in combat. Shiny Stania – Based on traditional witches' garb, Charon's "Shiny Stania" armor combines the attire of Charon's mother, Luchia, with her own unique flair. Skills: Dark Matter – Dark Matter combines the Orbis rune symbols to release a flow of powerful magic. This discharged energy reaches forward, attacking a large area. Charon can manipulate mana to use Dark Matter in various ways. Crescent Nova – Crescent Nova spreads Orbis out like a bow, projecting destructive missiles toward the enemy for continuous damage. Singularity – Singularity pushes Orbis to its limits, opening a black hole that traps enemies, dealing increased damage. Charon can explode the singularity before it vanishes. Apocalypse – As her ultimate attack, Charon can condense the enemy's space-time. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 December 2022. Payment date: 28 March 2023. Payout ratio is a comfortable 6.8% and this is well supported by cash flows. Trailing yield: 0.3%. Lower than top quartile of German dividend payers (5.1%). Lower than average of industry peers (1.9%). Annonce • Dec 06
NEXON Co., Ltd. to Report Fiscal Year 2022 Results on Feb 09, 2023 NEXON Co., Ltd. announced that they will report fiscal year 2022 results on Feb 09, 2023 Reported Earnings • Nov 16
Third quarter 2022 earnings released: EPS: JP¥50.07 (vs JP¥42.44 in 3Q 2021) Third quarter 2022 results: EPS: JP¥50.07 (up from JP¥42.44 in 3Q 2021). Revenue: JP¥97.5b (up 28% from 3Q 2021). Net income: JP¥43.3b (up 14% from 3Q 2021). Profit margin: 44% (down from 50% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Entertainment industry in Germany. Reported Earnings • Nov 11
Third quarter 2022 earnings released: EPS: JP¥49.96 (vs JP¥42.44 in 3Q 2021) Third quarter 2022 results: EPS: JP¥49.96 (up from JP¥42.44 in 3Q 2021). Revenue: JP¥97.5b (up 28% from 3Q 2021). Net income: JP¥43.3b (up 14% from 3Q 2021). Profit margin: 44% (down from 50% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.4% p.a. on average during the next 3 years, compared to a 9.5% growth forecast for the Entertainment industry in Germany. Reported Earnings • Aug 11
Second quarter 2022 earnings released: EPS: JP¥28.11 (vs JP¥10.08 in 2Q 2021) Second quarter 2022 results: EPS: JP¥28.11 (up from JP¥10.08 in 2Q 2021). Revenue: JP¥84.1b (up 50% from 2Q 2021). Net income: JP¥24.7b (up 176% from 2Q 2021). Profit margin: 29% (up from 16% in 2Q 2021). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 27%, compared to a 131% growth forecast for the industry in Germany. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥5.00 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 27 September 2022. Payout ratio is a comfortable 6.1% and this is well supported by cash flows. Trailing yield: 0.4%. Lower than top quartile of German dividend payers (4.4%). Lower than average of industry peers (1.8%). Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment deteriorated over the past week After last week's 17% share price decline to €19.10, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 16x in the Entertainment industry in Europe. Total loss to shareholders of 1.7% over the past year. Simply Wall St's valuation model estimates the intrinsic value at €28.81 per share. Reported Earnings • May 15
First quarter 2022 earnings released: EPS: JP¥45.35 (vs JP¥51.85 in 1Q 2021) First quarter 2022 results: EPS: JP¥45.35 (down from JP¥51.85 in 1Q 2021). Revenue: JP¥91.0b (up 3.1% from 1Q 2021). Net income: JP¥40.3b (down 13% from 1Q 2021). Profit margin: 44% (down from 52% in 1Q 2021). The decrease in margin was driven by higher expenses. Over the next year, revenue is forecast to grow 30%, compared to a 180% growth forecast for the industry in Germany. Reported Earnings • Apr 02
Full year 2021 earnings released: EPS: JP¥129 (vs JP¥63.57 in FY 2020) Full year 2021 results: EPS: JP¥129 (up from JP¥63.57 in FY 2020). Revenue: JP¥274.5b (down 6.3% from FY 2020). Net income: JP¥114.9b (up 104% from FY 2020). Profit margin: 42% (up from 19% in FY 2020). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 21%, compared to a 176% growth forecast for the industry in Germany. Reported Earnings • Feb 09
Full year 2021 earnings: EPS in line with expectations, revenues disappoint Full year 2021 results: EPS: JP¥129 (up from JP¥63.57 in FY 2020). Revenue: JP¥274.5b (down 6.3% from FY 2020). Net income: JP¥114.9b (up 104% from FY 2020). Profit margin: 42% (up from 19% in FY 2020). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 1.2%. Over the next year, revenue is forecast to grow 23%, compared to a 345% growth forecast for the industry in Germany. Buying Opportunity • Feb 09
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 1.1%. The fair value is estimated to be JP¥22.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 5.5% per annum over the last 3 years. Earnings per share has declined by 19% per annum over the last 3 years. Upcoming Dividend • Dec 22
Upcoming dividend of JP¥2.50 per share Eligible shareholders must have bought the stock before 29 December 2021. Payment date: 26 March 2022. Payout ratio is a comfortable 7.0% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of German dividend payers (3.3%). Lower than average of industry peers (1.6%). Reported Earnings • Nov 10
Third quarter 2021 earnings released: EPS JP¥42.41 (vs JP¥18.45 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: JP¥75.9b (down 4.4% from 3Q 2020). Net income: JP¥37.9b (up 132% from 3Q 2020). Profit margin: 50% (up from 21% in 3Q 2020). The increase in margin was driven by lower expenses. Reported Earnings • Aug 14
Second quarter 2021 earnings released: EPS JP¥10.08 (vs JP¥22.37 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: JP¥56.0b (down 13% from 2Q 2020). Net income: JP¥8.96b (down 55% from 2Q 2020). Profit margin: 16% (down from 31% in 2Q 2020). The decrease in margin was primarily driven by lower revenue. Upcoming Dividend • Jun 22
Upcoming dividend of JP¥2.50 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 28 September 2021. Trailing yield: 0.2%. Lower than top quartile of German dividend payers (3.1%). Lower than average of industry peers (1.9%). Valuation Update With 7 Day Price Move • May 19
Investor sentiment deteriorated over the past week After last week's 20% share price decline to JP¥20.20, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 25x in the Entertainment industry in Europe. Simply Wall St's valuation model estimates the intrinsic value at €27.94 per share. Reported Earnings • May 13
First quarter 2021 earnings released: EPS JP¥51.85 (vs JP¥56.57 in 1Q 2020) The company reported a soft first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2021 results: Revenue: JP¥88.3b (up 6.7% from 1Q 2020). Net income: JP¥46.0b (down 7.8% from 1Q 2020). Profit margin: 52% (down from 60% in 1Q 2020). The decrease in margin was driven by higher expenses. Reported Earnings • Feb 11
Full year 2020 earnings released: EPS JP¥63.57 (vs JP¥129 in FY 2019) The company reported a soft full year result with weaker earnings and profit margins, although revenues improved. Full year 2020 results: Revenue: JP¥293.0b (up 18% from FY 2019). Net income: JP¥56.2b (down 51% from FY 2019). Profit margin: 19% (down from 47% in FY 2019). The decrease in margin was driven by higher expenses. Analyst Estimate Surprise Post Earnings • Feb 11
Revenue beats expectations Revenue exceeded analyst estimates by 0.2%. Over the next year, revenue is forecast to grow 17%, compared to a 3.5% growth forecast for the Entertainment industry in Germany. 
