Nexon Invests US$874 Million in Hasbro, Bandai Namco, Konami, Sega Sammy
posted on by Alex Mateo
Nexon announced on Monday that it has invested 92.4 billion yen (about US$874 million) into companies including Hasbro, Bandai Namco Holdings, Konami Holdings, and Sega Sammy Holdings. Nexon also invested in other companies, but the investments did not meet the company's threshold for disclosure. The company added that it had no intention of acquisition or activism through these long-term investments.
Nexon's board authorized in 2020 up to US$1.5 billion for investment in entertainment companies that demonstrated to them the ability to develop and sustain globally recognized intellectual property. The company recorded a gain of 29.5 billion yen (about US$279 million).
In 2020, Nexon generated revenues of 293 billion yen (about US$2.7 billion) and operating cash flow of 137.6 billion yen (about US$3.7 billion). As of December 31, the company has 525.7 billion yen (about US$4.8 billion) on its balance sheet.
Nexon was founded in South Korea in 1994, but is headquartered in Tokyo, Japan. The company specializes in free-to-play mobile and online games, such as MapleStory, SINoALICE, and the original Kemono Friends game.
Disclosure: Bandai Namco Rights Marketing, Inc., a wholly owned subsidiary of Bandai Namco Holdings Inc., is a non-controlling, minority shareholder in Anime News Network Inc.