NEXON Co., Ltd. Q4 FY2024 Earnings Call

· Earnings call transcript and AI-powered summary

  • Full-Year Financial Performance:
    • Revenue for FY 2024 reached a record JPY 446.2 billion, a 5% increase YoY.
    • Operating income decreased by 8% YoY to JPY 124.2 billion, primarily due to increased investment in IP development and talent acquisition.
    • Net income was JPY 134.8 billion, up 91% YoY, aided by significant FX gains and the absence of prior year's impairment losses.
  • Q4 2024 Results:
    • Revenue: JPY 79.7 billion (down 6% YoY).
    • Operating loss of JPY 1.7 billion due to an impairment of JPY 7 billion and revenue underperformance.
    • Net income: JPY 32 billion, exceeding expectations due to JPY 31.7 billion FX gain.
  • Franchise Highlights:
    • Dungeon&Fighter: Revenue grew 53% YoY in 2024 due to strong mobile launch in China. However, Q4 and early Q1 showed underperformance in China due to a slow reception of updates. A co-development agreement with Tencent was established to localize and expand content.
    • MapleStory: Revenue declined 17% YoY in 2024. However, strong rebound observed in Korea post-winter update, driving Q1 2025 sales up more than 30% YoY. Global revenue (outside Korea) grew 24% YoY.

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Operator: [Interpreted] Good day, everyone, and welcome to NEXON's 2024 Fourth Quarter Online Earnings presentation. Today's presentation is being recorded. [Operator Instructions] We will now hand over to Takanori Kawai, team leader of Investor Relations. Please go ahead, sir. Takanori Kawai: [Interpreted] Hello, everyone, and welcome to NEXON's earnings conference call. Thank you for joining us today. With me are Junghun Lee, President and CEO of NEXON; and Shiro Uemura, CFO. Today's call will contain forward-looking statements, including statements about our results of operation and financial condition, such as revenues attributable to our key titles, growth prospects, including with respect to the online games 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 a

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