Nexon introduced that it invested an approximate $874 million in toy and online game firms throughout Japan and the United States. Nexon made the announcement by way of its securities report, the place the corporate is required to reveal investments made. By the tip of 2020, ¥92.four billion (round $874 million) was invested in firms like Hasbro, Bandai Namco Holdings, Konami Holdings, and Sega Sammy Holdings. [Thanks, Gamer!]
In the corporate’s investment disclosure, CEO Owen Mahoney said:
We imagine firms with robust, well-managed international IP are sometimes ignored and undervalued in a market that’s narrowly targeted on introductions of latest IP. These investments replicate our respect for administration groups that create and develop international properties over a interval of years and a long time. We imagine that every has potential to capitalize on the secular shift from linear codecs to interactive leisure.
Additionally, the corporate introduced that it made estimated beneficial properties of roughly $279 million after taking into consideration market worth. Nexon additionally said that the investments are long-term investments with revenue in thoughts and made with “no intention of acquisition or activism.”
Notably, among the firms invested in weren’t listed as they didn’t meet the funding quantity required for disclosure.
Nexon is one in every of South Korea’s main online game firms. The firm is behind many fashionable on-line video games similar to MapleStory and Kart Racer: Drift. It additionally launched cellular MMORPG V4 to international audiences again in 2020.