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Nexon Q1 financials suggest growing disparity between east and west markets

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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Dave Cook avatar

Dave Cook

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Dave worked on VG247 for an extended period manging much of the site's news output. As well as his experience in games media, he writes for comics, and now specializes in books about gaming history.

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