NEXON Co., Ltd. Q1 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: JPY 91 billion, up 3% YoY on an as-reported basis, in line with outlook. On a constant currency basis, down 1% YoY.
  • Operating Income: JPY 38.5 billion, down 11% YoY, driven by increased HR and marketing expenses.
  • Net Income: JPY 40.3 billion, down 13% YoY but exceeded guidance, mainly due to FX gains from USD-denominated cash holdings.
  • Major Performance Drivers:
    • Launch of Dungeon&Fighter Mobile on March 24 in Korea significantly exceeded expectations for both engagement and revenue.
    • FIFA Online 4 achieved all-time record-high quarterly sales in Korea.
    • MapleStory revenues declined YoY due to tough 2021 comps, but expected to return to double-digit YoY growth in Q2.
    • Chinese Dungeon&Fighter PC increased revenue YoY despite performing slightly below internal projections.
  • Regional Highlights:
    • Korea: Revenue fell 5% YoY; PC down 9%, Mobile up 6%. Strong performance by FIFA Online 4 and Mobile DnF offset by declines in MapleStory and PC DnF.
    • China: Revenue up 15% YoY as reported; update-driven strength in DnF. ARPPU and revenue increased.

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Operator: Good day, everyone, and welcome to NEXON's 2020 First Quarter Earnings Conference Call. Today's call is being recorded. At this time, I would like to turn the call over to Takanori Kawai, Team Leader of Investor Relations. Please go ahead, sir. 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 conditions 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 as stated in NEXON's consolidated fin

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