Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Japan
  4. Japan Exchange
  5. NEXON Co., Ltd.
  6. News
  7. Summary
    3659   JP3758190007

NEXON CO., LTD.

(3659)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Japan's Nexon spends $100 million to buy bitcoin

04/27/2021 | 09:44pm EDT
FILE PHOTO: The logo of Nexon is displayed at the company office in Tokyo

TOKYO (Reuters) - Japanese games maker Nexon said on Wednesday it has spent around $100 million to buy bitcoin, joining companies like Tesla in lending support to the cryptocurrency.

Nexon said it has used less than 2% of its reserves on the purchases, which were made at an average cost of $58,000 per bitcoin.

"We believe bitcoin offers long-term stability and liquidity while maintaining the value of our cash for future investments," Nexon CEO Owen Mahoney said in a statement.

Nexon has been investing in entertainment companies like Konami as it looks to put its cash reserves to work.

(Reporting by Sam Nussey; Editing by Himani Sarkar)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BITCOIN - EURO -5.57% 38755.17 Real-time Quote.74.55%
BITCOIN - UNITED STATES DOLLAR -5.50% 47071.75 Real-time Quote.73.11%
KONAMI HOLDINGS CORPORATION 5.42% 6420 End-of-day quote.10.69%
NEXON CO., LTD. 0.61% 2805 End-of-day quote.-11.79%
TESLA, INC. 3.16% 589.74 Delayed Quote.-16.43%
All news about NEXON CO., LTD.
05/13NIKKEI 225  : Down 2.5% in Global Equities Slump
MT
05/13Nikkei slumps to 4-month low as inflation scare hits expensive shares
RE
05/12Nikkei slumps to 4-month low as inflation scare hits expensive shares
RE
05/12NEXON  : Releases Earnings for First Quarter 2021
BU
05/12NEXON  : Notice of Grant of Stock Options (19th-(2) Round) (Stock Acquisition Ri..
PU
05/12NEXON  : Announcement Regarding Difference Between First Quarter Outlook and Act..
PU
05/12NEXON  : Consolidated Financial Results for the Three Months Ended March 31, 202..
PU
05/12NEXON  : Q1 2021 Investor Presentation
PU
05/06NEXON  : Unleash the Power with Half-Human, Half-Dragon Kaiser Warrior Class in ..
BU
05/06NIKKEI 225  : Up 1.8% After 5-Day Holiday; Steel Stocks Lead
MT
More news
Financials
Sales 2021 333 B 3 045 M 3 045 M
Net income 2021 123 B 1 127 M 1 127 M
Net cash 2021 606 B 5 543 M 5 543 M
P/E ratio 2021 20,2x
Yield 2021 0,17%
Capitalization 2 492 B 22 783 M 22 786 M
EV / Sales 2021 5,66x
EV / Sales 2022 4,93x
Nbr of Employees -
Free-Float 51,1%
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
TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 3 801,92 JPY
Last Close Price 2 805,00 JPY
Spread / Highest target 60,4%
Spread / Average Target 35,5%
Spread / Lowest Target 10,5%
EPS Revisions
Managers and Directors
NameTitle
Owen Mahoney President & Representative Director
Shiro Uemura CFO, Representative Director & GM-Administration
Satoshi Honda Independent Outside Director
Shiro Kuniya Independent Outside Director
Patrick Söderlund Director
Sector and Competitors
1st jan.Capitalization (M$)
NEXON CO., LTD.-11.79%22 783
ACTIVISION BLIZZARD, INC.0.54%72 535
NETEASE, INC.5.99%68 521
NCSOFT CORPORATION-10.74%15 186
ZYNGA INC.3.65%11 138
PLAYTIKA HOLDING CORP.0.00%10 322