NEXON : Announcement Regarding Difference Between First Quarter Outlook and Actual Results and Recording of Foreign Exchange Gain

	May 12, 2021
Name of Company:	NEXON Co., Ltd.
Representative:	Owen Mahoney, Representative Director,
	President and Chief Executive Officer
	(Stock Code: 3659, TSE First Section)
Contact:	Shiro Uemura, Representative Director and
	Chief Financial Officer
Telephone:	03-6629-5318

Announcement Regarding Difference Between First Quarter Outlook and Actual Results and

Recording of Foreign Exchange Gain

NEXON Co., Ltd. ("Nexon") today made an announcement regarding the difference between the consolidated results outlook for the first quarter of the accounting year ending December 31, 2021 (January 1, 2021 through March 31, 2021) as announced on February 9, 2021 and actual performance.

Nexon also recorded a foreign exchange gain as follows under finance income for the first quarter of the accounting year ending December 31, 2021.

1. Difference between the consolidated results outlook and actual results

Difference between the consolidated business outlook for the first quarter (January 1, 2021 through March 31, 2021) and actual performance

(Prepared in accordance with IFRS)

(Units: millions of yen, %)

			Income		Net Income		Basic
				Attributable		Earnings per
		Operating	Before
	Revenue	Net Income	to Owners of		Share
	Income	Income
			the Parent		(yen)
			Taxes
				Company
Initial forecast	82,770	35,265	36,457	25,629	26,019	29.33
-	-	-	-	-	-
(A)
89,129	41,922	43,114	30,604	30,920	34.85
First quarter	88,313	43,321	63,575	45,733	46,034	51.86
performance (B)
	5,543	8,056	27,118	20,104	20,015
Difference (B-A)	-	-	-	-	-
	(816)	1,399	20,461	15,129	15,114
Percentage	6.7%	22.8%	74.4%	78.4%	76.9%
-	-	-	-	-
change (%)
(0.9%)	3.3%	47.5%	49.4%	48.9%

－1－

2. Reason for the difference

Income before income taxes and each subsequent income for the first quarter (January 1, 2021 through March 31, 2021) exceeded the previous outlook due to the foreign exchange gain of JPY 18,119 million mostly related to the depreciation of the Korean won against the U.S. dollar during the first quarter, which was recorded under finance income mainly on the U.S. dollar-denominated cash deposits and trade accounts receivable owned by Nexon's overseas subsidiaries.

3. Recording of foreign exchange gain

Nexon recorded a foreign exchange gain of JPY 18,119 million under finance income for the first quarter (January 1, 2021 through March 31, 2021) of the consolidated accounting year ending December 31, 2021, mainly on the U.S. dollar-denominated cash deposits and trade accounts receivable owned by Nexon's overseas subsidiaries mostly due to the depreciation of the Korean won against the U.S. dollar.

－2－