Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Tokyo  >  NEXON Co Ltd    3659   JP3758190007

NEXON CO LTD

(3659)
  Report  
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

Multinationals expected to drive Asia M&A after slow start to year

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/29/2019 | 01:21am EDT

HONG KONG (Reuters) - Dealmaking in Asia has had its slowest start to the year since 2014, even as bankers continue to look ahead to a series of expected strategic asset sales and spin-offs from big multinationals.

Mergers and acquisitions (M&A) involving Asia Pacific companies slid 39 percent in the first quarter year-on-year to $186 billion, the worst start to a year since 2014, according to Refinitiv data.

Bankers attributed much of the slowdown to the market turmoil in the second half of last year - particularly the fourth quarter - which slowed or even stopped work on many deals as executives waited to see whether sentiment would improve.

Dealmaking is however expected to pick up in the coming months as a strong start to the year for markets has revived animal spirits. The S&P 500 has risen 12 percent and China's blue-chip CSI 300 is up more than 20 percent.

Deals known publicly to be well underway will add at least $10 billion (£7.7 billion) to the total in the coming weeks, according to Reuters calculations and banker estimates.

German wholesaler Metro AG is expecting first-round bids for a majority stake in its China operations by the second week of April and has already attracted interest.

In Australia, Campbell Soup is due to announce the winner of its biscuits business which includes Arnott's - maker of Tim Tams - and which could fetch over $3 billion, according to sources familiar with the deal.

"More multinationals are evaluating their presence in Asia, which is leading to further investments but also some divestitures - or partial divestitures including aligning with a local partner to try to best position the business for the future," said Kerwin Clayton, JPMorgan's co-head of M&A for Asia Pacific.

While some global companies are seeking a greater stake in their Asian interests, including the carmakers and banks seeking to increase investment in China, other companies are expected to reduce exposure as geopolitical uncertainties remain high and China and the United States remain locked in trade talks.

Just last week, U.S.-based Murphy Oil Corp announced its exit in Malaysia by selling its assets there to Thailand's PTTEP for $2.13 billion.

Apart from multinationals, private-sector company owners are also expected to sell more assets, according to bankers.

"Certain family-owned businesses, especially in South Korea and Taiwan, will explore sales as the ownership goes through generational change," said John Kim, head of M&A for Asia ex-Japan at Goldman Sachs.

Gra
phic: Asia M&A sinks to five-year low in Q1 (

PRIVATE EQUITY FOCUS

Many sellers are specifically targeting private equity (PE) firms as potential buyers since the industry is sitting on record levels of "dry powder" - uninvested capital - after a fundraising bonanza.

More than two dozen bids, mostly from private equity firms, went in for the first-round auction of Asian hospital business Columbia Pacific Management, two people close to the situation have told Reuters.

"There is definitely momentum for PE firms to jump on the most attractive assets. Sellers now target a wide group of PE to make the process more competitive," said a portfolio manager at a regional private equity fund, who declined to be named as he is not authorised to speak to the media.

Private equity groups are expected to be interested in joining consortiums bidding for the potential sale of NXC, the 48 percent shareholder of South Korean gaming company Nexon Co - potentially the world's largest acquisition in the gaming industry, according to Refinitv data.

JPMorgan topped the region's league table for announced M&A deals in the first quarter, followed by Morgan Stanley and Chinese investment bank Citic Securities.

(Reporting by Kane Wu in Hong Kong; additional reporting by Anshuman Daga in Singapore; editing by Stephen Coates)

By Kane Wu

Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING -0.64% 155 Delayed Quote.13.08%
CAMPBELL SOUP COMPANY -1.52% 37.53 Delayed Quote.13.76%
DAIMLER AG 0.21% 47.43 Delayed Quote.3.31%
DJ INDUSTRIAL 0.37% 25585.69 Delayed Quote.9.68%
GOLDMAN SACHS GROUP 0.54% 193 Delayed Quote.15.53%
JP MORGAN CHASE & COMPANY 0.98% 109.71 Delayed Quote.12.38%
METRO -0.14% 13.89 Delayed Quote.3.70%
NASDAQ 100 -0.10% 7300.960795 Delayed Quote.15.34%
NASDAQ COMP. 0.11% 7637.008585 Delayed Quote.15.10%
NEXON CO LTD -0.54% 1659 End-of-day quote.19.96%
S&P 500 0.14% 2826.06 Delayed Quote.12.73%
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on NEXON CO LTD
05/23NEXON : Major MapleStory M Update Brings Two New Explorer Classes; Buccaneer and..
BU
05/18High price impedes sale of Nexon
AQ
05/16NEXON : BOOM! Nexon and Final Strike Games Reveal New Title, Rocket Arena, Enter..
BU
05/15THE AGE OF DINOSAURS IS HERE IN DURA : Wild Lands
BU
05/13NEXON : MapleStory Fest Brings Sold Out Spectacle to Los Angeles
BU
05/07NEXON CO LTD : quaterly earnings release
04/25NEXON : New PvP Dungeon Comes to MapleStory M in “The Legends Return&rdquo..
BU
04/25NEXON : Notice of Financial Results of Unlisted Other Affiliated Company
PU
04/18NEXON : MMORPG MapleStory Kicks off 14th Anniversary with Major Celebration Even..
BU
04/11Explainer - Who is in the driver's seat in battle for South Korean gaming gia..
RE
More news
Financials (JPY)
Sales 2019 269 B
EBIT 2019 -
Net income 2019 92 661 M
Finance 2019 466 B
Yield 2019 -
P/E ratio 2019 15,56
P/E ratio 2020 14,96
EV / Sales 2019 3,79x
EV / Sales 2020 3,17x
Capitalization 1 486 B
Chart NEXON CO LTD
Duration : Period :
NEXON Co Ltd Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends NEXON CO LTD
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 1 829  JPY
Spread / Average Target 10%
EPS Revisions
Managers
NameTitle
Owen Mahoney President & Representative Director
Ji-Won Park Chief Operating Officer & Director
Shiro Uemura CFO, Representative Director & GM-Administration
Satoshi Honda Independent Outside Director
Shiro Kuniya Independent Outside Director
Sector and Competitors
1st jan.Capitalization (M$)
NEXON CO LTD19.96%13 594
ACTIVISION BLIZZARD-9.19%32 394
NCSOFT CORP--.--%8 795
ZHEJIANG CENTURY HUATONG GROUP CO LTD--.--%6 149
ZYNGA INC54.20%5 668
WUHU SANQI INTRCTV ENT NTWK TCH GRP COLD--.--%3 791