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Nexon Q1 financials suggest growing disparity between east and west markets

Friday, 10th May 2013 10:19 GMT By Dave Cook

Nexon has revealed its Q1 financial report, suggesting that the publisher’s revenue is booming in Japan with ¥9.9 billion in the country alone – an increase of 222.4% – but the figures are sliding in North America.

GI.biz reports that for the quarter ended March 31, 2013 the company’s profits in Japan leapt 448.4 % year-on-year to ¥1.9 billion. The site adds that Nexon’s acquisition of Japanese mobile developer Gloops Inc. for $470 million last year, is a contributing factor for its success.

However the story is not as rosy in North America as – despite a 9.5% increase in revenue across the country at ¥1.5 billion – Nexon suffered an ¥182 million loss, compared to a smaller US loss of ¥145 million last year.

Meanwhile, overall revenue jumped 36% for the year at ¥44.4 billion, and Nexon’s net profit climbed 19.1% ending at ¥15.4 billion. The report highlighted two hit games in South Korea – Sudden Attack and Dungeon & Fighter – as key factors, helping to push its revenue in the country up 27% to ¥30.7 billion, and profits up 8.7% to ¥18 billion.

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