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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  NEXON Co., Ltd.    3659   JP3758190007

NEXON CO., LTD.

(3659)
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Nexon : Makes Strategic Investment in IMC GAMES, Developer of PC Online Game Tree of Savior

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02/26/2017 | 09:18pm EDT

TOKYO - February 27, 2017 - NEXON Co., Ltd. (3659.TO) ('Nexon'), a global leader in online games for PC and mobile, today announced that its consolidated subsidiary, NEXON Korea Corporation ('Nexon Korea') has made a strategic investment in IMC GAMES Co., Ltd. ('IMC GAMES').

Founded in April 2003 and led by Chief Executive Officer Hakkyu Kim, a veteran game developer, IMC GAMES is a game development studio known for its massively multiplayer online role playing games (MMORPG) with rich and creative graphics including Tree of Savior and Granado Espada.

With this investment, Nexon and IMC GAMES will work closely together to reinforce service of Tree of Savior and launch Tree of Savior: Mobile Remake globally, which is currently under development.

'We're thrilled to strengthen our collaboration with our talented partner, IMC GAMES,' said Jiwon Park, Chief Executive Officer of Nexon Korea. 'We are confident that together we will continue to deliver high-quality games that leverage strength of each company in game development and publishing.'

'We hope this partnership with Nexon will be an opportunity for us to promote the development of the new mobile title,' saidHakkyu Kim, Chief Executive Officer of IMC GAMES. 'We look forward to delivering high-quality content through both new and existing titles.'

Open world MMORPG, Tree of Savior, has been serviced since December 2015 in Korea and since September 2016 in Japan, and features fairytale-motif graphics, as well as a class-development system for detailed customization of character skills, and an expansive game world for players.

About NEXON Co., Ltd. http://company.nexon.co.jp/
NEXON Co., Ltd. ('Nexon') (3659.TO) is a global leader in online games for PC and mobile. Founded in Korea in 1994, Nexon developed one of the world's first graphics-based massively multiplayer online games. Nexon also pioneered the concept of microtransactions and the free-to-play business model, setting a new standard in which play is free, and users have the option to purchase in-game items to enhance their experience. Nexon currently services over 100 titles in more than 190 countries. The Company is headquartered in Tokyo, Japan and its shares are listed on the Tokyo Stock Exchange.

About IMC GAMES Co., Ltd. http://www.imc.co.kr/ (Korean Only) IMC GAMES is specialized in developing MMORPG founded by Hakkyu Kim in 2003. Its purpose is to offer players not only the fun of online games, which is to connect people, but also further values of freshness and immersiveness of games. It has been globally servicing Granado Espada since 2006. Recently, the company has been undertaking new projects such as WOLFKNIGHTS.

Nexon Co. Ltd. published this content on 27 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 27 February 2017 02:18:17 UTC.

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Financials
Sales 2020 291 B 2 704 M 2 704 M
Net income 2020 114 B 1 063 M 1 063 M
Net cash 2020 575 B 5 345 M 5 345 M
P/E ratio 2020 20,0x
Yield 2020 0,14%
Capitalization 2 291 B 21 319 M 21 304 M
EV / Sales 2019
EV / Sales 2020 5,90x
Nbr of Employees -
Free-Float 50,8%
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Average target price 2 648,00 JPY
Last Close Price 2 592,00 JPY
Spread / Highest target 19,6%
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Spread / Lowest Target -42,1%
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