NEXON Co., Ltd. Q2 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: JPY 94.4 billion, up 12% YoY (as-reported), 10% YoY (constant currency). Fifth consecutive quarter of double-digit topline growth.
  • Operating Income: JPY 27.6 billion, up 22% YoY.
  • Net Income: JPY 24.5 billion, down 7% YoY, exceeding guidance due to JPY 8.1 billion FX gain (vs. JPY 27.7 billion last year).
  • Franchise Highlights:
    • MapleStory (Korea): Revenue decreased 6% YoY in Q2, but active users increased. Key 6th job update released July 13 kicking off YoY revenue growth expectations for Q3.
    • Dungeon & Fighter (China): Revenue down YoY vs strong Q2 2022 (+43%). MAUs increased, prioritizing community building over monetization. Summer update and engagement efforts forecast slight revenue recovery in Q3.
    • FIFA ONLINE 4 / MOBILE: Strong post-World Cup performance with record MAU. Expect drop in Q3 due to tough YoY comps despite sustained momentum.
    • Wars of Prasia and HIT2: Both exceeded expectations. HIT2 expanded to Taiwan, HK, and Macau in May.
    • Blue Archive: Significant YoY growth in all regions. China launch in August well received.

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Takanori Kawai: Hello everyone and welcome to Nexon's Earnings Conference Call. Thank you for joining us today. With me are Owen Mahoney, President and CEO of Nexon; and Shiro Uemura, CFO. Today's call will contain forward-looking statements including statements about our results of operations and financial condition such as revenues attributable to our key titles, growth prospects including with respect to the online game industry, our ability to compete effectively, adapt to new technologies, and address new technical challenges, our use of intellectual property, and other statements that are not historical facts. These statements represent our predictions, projections, and expectations about future events, which we believe are reasonable or based on reasonable assumptions. However, numerous risks and uncertainties could cause actual results to differ materially from those expressed or implied in the forward-looking statements. Information on some of these risks and uncertainties can be found in our earnings-related IR documents. We assume no obligation to update or alter any forward-looking statements. Please note net income refers to net income attributable to owners of the parent as stated in Nexon's consolidated financial results. Furthermore, this conference call is intended to provide investors analysts with financial and operational information about Nexon, not to solicit or recommend any sale or purchase of stock or other securities of Nexon. A recording of this con

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