NEXON Q3 2023 Investor Presentation

Key insights

7 takeaways

01
Nexon achieved record Q3 2023 revenue of ¥120.3 billion, marking its sixth consecutive quarter of double-digit year-over-year growth.See it on page 12
02
Segment profit reached ¥46,628 million, driven by strong engagement in the Korean market and the performance of core franchises including MapleStory, FC ONLINE, and Dungeon&Fighter.See it on page 10
03
The company is transitioning its development strategy from short-cycle games toward long-term, community-driven virtual worlds to create sustainable, multi-year revenue streams.See it on page 47
04
Nexon’s share repurchase program is currently tracking ahead of its two-year schedule, contributing to a total asset valuation of ¥1,193,598 million.See it on page 32
05
The open beta for the new title THE FINALS surpassed 7.5 million downloads, validating the company's current development philosophy.See it on page 5
06
A leadership transition is scheduled for March 2024, with a new CEO set to take over to ensure organizational continuity and strategic refinement.See it on page 4
07
Future growth projections for Q4 2023 prioritize expansion in North America and Europe while maintaining stable performance in the Japanese and Chinese markets.See it on page 18

Summary

Nexon achieved record financial performance in the third quarter of 2023, reporting revenues of ¥120.3 billion. This milestone marks the company’s sixth consecutive quarter of double-digit year-over-year growth, underpinned by the sustained popularity of core franchises such as MapleStory, FC ONLINE, and Dungeon&Fighter. Segment profit reached ¥46,628 million, reflecting a robust recovery driven largely by strong engagement within the Korean market. While cash and cash equivalents decreased to ¥250,175 million, total assets expanded to ¥1,193,598 million, supported by an aggressive share repurchase program that is currently tracking ahead of its two-year schedule.

The company’s strategic trajectory focuses on transitioning from traditional, short-cycle game development toward the creation of deeply immersive, community-driven virtual worlds. By leveraging proprietary technology and existing intellectual property, the organization aims to cultivate sustainable, multi-year revenue streams. This shift is complemented by a commitment to expanding its global footprint, with growth projections for the final quarter of 2023 emphasizing momentum in North America and Europe alongside the domestic Korean market.

Operational leadership is set to evolve with a planned transition to a new CEO in March 2024, signaling a period of organizational continuity and strategic refinement. Recent initiatives, such as the open beta for THE FINALS—which surpassed 7.5 million downloads—demonstrate the efficacy of this development philosophy. Looking ahead, the company maintains a stable outlook for its Japanese and Chinese segments while prioritizing long-term player retention and the expansion of its digital ecosystem across both PC and mobile platforms.