Nexon

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Nexon Co, Ltd.
Native name
TypePublic
TYO: 3659
IndustryVideo games
FoundedDecember 26, 1994; 29 years ago (1994-12-26)
Seoul, South Korea
Founders
HeadquartersMinato-ku, Tokyo, Japan[1]
Key people
Owen Mahoney (CEO)[2]
Shiro Uemura (CFO)[3]
Patrick Söderlund (Director)[4]
Kevin A. Mayer (External Director)[4]
Revenue¥274.5billion (2021)[5]
¥91.5billion (2021)[5]
¥114.9billion (2021)[5]
OwnerNXC (46.7%)[6]
Number of employees
7,067 (Dec. 2021)[7]
Subsidiaries§ Organization
Websitewww.nexon.com/main/en

Nexon Co., Ltd. is a global video game publisher, listed in Japan, specializes in online Virtual World games for PCs, consoles and mobile.[8] Nexon is one of the world’s ten largest interactive game companies based on market capitalization and maintains over 45 titles across 190 countries with popular IP franchises such as MapleStory, Dungeon&Fighter, Sudden Attack, and KartRider.[8] As of 2022, Nexon games have registered close to one billion registered players with multiple games that rank among the world's top-grossing entertainment franchises.

Nexon was founded in Seoul, South Korea in 1994 by Kim Jung-ju and Jake Song. In 2005, the company moved its headquarters to Tokyo, Japan. Nexon's largest shareholder is NXC,[9] a South Korean entertainment conglomerate headquartered in Jeju Island, South Korea.

History

Nexon Group was established in Seoul, South Korea on December 26, 1994, and is currently based in Japan. It also has offices located in South Korea, the United States, Taiwan and Thailand.[10] Nexon developed and published its first title, Nexus: The Kingdom of the Winds, in 1996, which the company continues to service.[11] Many title releases followed such as Dark Ages: Online Roleplaying, Elemental Saga, QuizQuiz, KartRider, Elancia, and Shattered Galaxy;[12] some of which are maintained by a company spun off of Nexon, Kru Interactive.[13] In 2003, Wizet developed MapleStory in Korea, which later became one of their most successful titles and has been serviced for more than a decade.[14][15] The game was localized in many locations such as Japan, China, Taiwan, Thailand, Singapore, North America, Europe, Brazil, and Vietnam.[16] Nexon is also the developer of Dungeon & Fighter, through its wholly owned subsidiary, Neople.[17][18] Dungeon & Fighter is one of the most popular free-to-play online PC games in China.[18][19]

In April 2013, the programmer "DrUnKeN ChEeTaH" was sued by Nexon America for operating GameAnarchy, a popular subscription based cheat provider for Combat Arms. Nexon was awarded $1.4M in damages.[20]

Nexon went public on the Tokyo Stock Exchange on December 14, 2011, in an initial public offering, the largest in Japan for 2011 and the second largest by a technological company for 2011 worldwide.[21]

On March 9, 2016, Nexon acquired Big Huge Games, a mobile game developer in Maryland.[22]

On January 3, 2019, the Korea Economic Daily reported Nexon founder Kim Jung-ju and associates have put their 98.64-percent stake up for sale.[23] However, on July 8, 2019, Reuters reported the plan was abandoned.[24]

On November 25, 2019, The Lego Group announced the acquisition of Bricklink, the world's largest Lego fan community from Nexon, for an unknown price, which is expected to finish before the end of 2019.[25]

On June 2, 2020, Nexon announced plans to invest $1.5 billion in listed entertainment companies.[26] By March 2021, Nexon had deployed $874 million of that amount on investments into Hasbro, Bandai Namco Holdings, Konami, and Sega Sammy Holdings. Nexon stated that they have no interest in outright acquiring or taking activist investor positions in these companies.[27]

Nexon signed with Bandai Namco Holdings, Square Enix and Microsoft for a 10-year Japanese–South Korean video gaming partnership contract for media franchises through 2032, for example HoPals Echoes crossover project.[citation needed]

Nexon, which was known to be the largest video game company in South Korea, was overtaken by Krafton in July 2021.[28]

In July 2021, Nexon announced the formation of Nexon Film and Television, a division of the company focused on expanding the reach and value of Nexon's global IP, as well as development of new properties in both interactive and linear entertainment. The division is based in Los Angeles.[29]

In January 2022, Russo brothers-owned film production company AGBO sold a $400 million minority stake to Nexon, which is valued at $1.1 billion as Nexon takes a 38% stake.[30]

In February 2022, it was reported by Bloomberg that Saudi Arabian-based Public Investment Fund had purchased just over a 5% stake in Capcom and Nexon, reportedly worth $883 USD million, while American investment company KKR acquired an 8.5% stake.[31]

Organization

Nexon maintains various offices around the world that engage in the publishing and/or development of Nexon's games. Each region's local consolidated subsidiaries are independently managed and are responsible for developing their own strategy for their products and services.[32] The subsidiary that publishes a game does not necessarily indicate the region(s) that a game is available in. For example, some of Nexon Korea's games are published directly by Nexon Korea yet are available worldwide with no separate service published under the local consolidated company's portfolio.

Nexon Group Companies
Region Company name[33]
Japan NEXON Co., Ltd.
Korea NEXON Korea Corporation; NEOPLE INC.; Nexon Networks Corporation; NEXON Games Co., Ltd. (Nexon Games Seoul, Nexon Games Pangyo) (formerly Nexon GT and NAT Games); NEXON COMMUNICATIONS Co., Ltd.; Nexon Space Co., Ltd.; Thingsoft Inc.; N Media Platform Co., LTD.; Ngine Studios; TDF Co., Ltd.
China Lexian Software Development (Shanghai) Co., Ltd.
North America Nexon America Inc.; Nexon US Holding Inc.; Big Huge Games, Inc.; Pixelberry Studios
Other NEXON TAIWAN LIMITED; Nexon Thailand Co., Ltd.; Embark Studios AB; NEXON NETWORKS VINA COMPANY LIMITED

Support and Pay Increases for Creative Teams

In a 2021 earnings call, Nexon CEO Owen Mahoney declined to offer hard launch targets for highly anticipated games, telling investors: “Crunch mode is one of the most pernicious problems in our industry. The charade of launch timing serves little purpose except this dance with equity analysts. Instead, the right thing to focus and push for is a game that blows people’s minds. If we achieve that, the game will last many years, and the revenues will dwarf what we would have made by launching a quarter or two earlier. I’m sorry nobody in my industry has explained this to you before. Within the industry, we all know it’s true, and yet few talk about it openly. Everyone should. So rather than giving you a date, this team is going to give to our customers and employees a commitment to make the best game we can, as soon as we can.”

In February 2021, Nexon announced significant pay increases for new and existing development talent in the company’s Korean studios.[34] 

Games

Year Title Developer Publisher Notes
1996 Nexus: The Kingdom of the Winds Nexon Korea Nexon
1999 Elancia
Dark Ages
2001 Asgard
Crazy Arcade
2003 MapleStory Wizet Nexon (KR, JP, NA, EU)
TalesWeaver Softmax Nexon
2004 Crazyracing Kartrider Nexon Korea Also known in short as KartRider
Mabinogi devCAT
2005 Sudden Attack Nexon GT (now Nexon Games)
Dungeon Fighter Online Neople Nexon (KR & JP)
Neople (Global)
2007 Elsword KOG Studios Nexon Publishing for Korea only (KOG to handled Global server)
2008 Counter-Strike Online Nexon
Valve
2008 Combat Arms Nexon Server closed on November 2017; while the Global server was carried by VALOFE in both Reloaded and Classic version
2009 Crazy Shooting Bubble Fighter
2010 Vindictus devCAT Also known in Asia as Mabinogi Heroes, prequel to the original game
Dragon Nest Eyedentity Games Nexon to share the publishing rights in Korea (ENP Games now handled KR server, while Eyedentity Games handled rest of World ex. Chinese territories)
2011 Cyphers Neople
2012 FIFA Online 3 Electronic Arts Publishing for Korea only
2013 ArcheAge XL Games Nexon to share the publishing rights in Korea (XL Games was later brought by Kakao Games)
Final Fantasy XIV Square Enix Business Division 5 Square Enix Nexon to share the publishing rights in Korea (Actoz Soft now handled KR server)
Counter-Strike Online 2 Nexon
Valve 		Nexon Servers closed in April 2018
2014 FreeStyle 2 JOYCITY Publishing for Korea only
Closers Naddic Games Publishing for Korea only (Naddic Games to handled Global server)
Monster Squad Nexon GT
Timecast 		Mobile game
Servers closed in December 2016
2015 DomiNations Nexon
Big Huge Games 		Mobile game
Publishing rights was handed over to Big Huge Games in 2020
MapleStory 2 NSquare Both Japanese and Global server closed on Early 2020 with Korea as the only server available
2016 Tree of Savior IMC Games Publishing for Korea only (IMC Games to handled Global server)
Sudden Attack 2 Nexon GT Nexon Korean server closed shortly after launch following the controversy
Titanfall Online Nexon (Licensed from Electronic Arts) The game was never fully released
2017 Dynasty Warriors: Unleashed Nexon (Licensed from Koei Tecmo) Mobile game
Server closed in March 2020
Dark Avenger 3 Boolean Games Mobile game
AxE (Alliance x Empire) Nexon RED Mobile game
Server closed in June 2022
2018 FIFA Online 4 EA Spearhead Publishing for Korea only
MapleStory M Nexon Mobile game
2019 KurtzPel KOG Studios Publishing for Korea only (KOG to handled Global server)
Godzilla Defense Force Neople
Studio 42 		Mobile game
Crazy Arcade BnB M Nexon
2020 KartRider Rush+ Nexon Mobile game
V4 NAT Games (now Nexon Games) Cross–Platform (PC & Mobile)
The Kingdom of the Winds: Yeon Nexon Korea Mobile game
Currently available in Korea
2021 Blue Archive NAT Games (now Nexon Games) Nexon (Global ex. JP) Mobile game
KonoSuba: Fantastic Days Sumzap
2022 Dungeon & Fighter Mobile Neople Nexon Mobile game
Currently available in Korea
DNF Duel Arc System Works
Eighting
Neople 		Also available on PlayStation 4 & PlayStation 5
KartRider: Drift Nexon Korea (Nitro Studio) Cross–Platform (PlayStation 4, Xbox One, PC & Mobile)
Argent Twilight: Secrets Of The Dark Orbs[35] Nexon Games Mobile game
Currently in Closed Beta
TalesWeaver: Second Run[36] Nexon Mobile game
Currently available in Japan
TBA The First Descendant (fka Project Magnum) Nexon Games Nexon Also coming to PlayStation 4, PlayStation 5, Xbox One & Xbox Series X|S
VEILED EXPERTS
ARC Raiders Embark Studios Also coming to PlayStation 5 & Xbox Series X|S
The Finals
Warhaven (fka Project HP)[37] Nexon Korea
4 Towers
Dave the Diver
Dynasty Warriors 9 Mobile
Gwanggateo the Great
Hero Sky
HEXIA
Magia
Mabinogi Mobile
Project BBQ

Free-to-Play Online Virtual Worlds

Nexon is a pioneer in free-to-play online Virtual World games which operate in contrast to games that require a large initial payment and offer a comparatively short life cycle. Nexon’s Virtual Worlds make use of live, in-game operations to provide ongoing content and manage service. Nexon Live Operations helps engage players over years and, in some cases, decades.

The logo of Maplestory, an MMORPG published by Nexon.

Multiple Nexon Virtual Worlds are among the world’s most valuable entertainment franchises:

Franchise Launch Date[38] Registered Players[38] Lifetime Revenue[38]
Dungeon & Fighter 2005 + 850 million > $20 billion
MapleStory 2003 + 180 million > $3 billion
KartRider 2004 + 380 million > $ 1 billion
Sudden Attack 2005 + 23 million > $0.7 billion
The Kingdom of the Winds 1996 + 26 million N/A
Mabinogi 2004 + 20 million > $0.6 billion

Games for Mobile and Consoles

Nexon began as a developer and publisher of PC games. However, in 2020, the company announced plans to begin releasing both console and mobile versions of key franchises. CEO Owen Mahoney noted that expansion onto the two popular platforms “collectively represent an order-of-magnitude increase in our total addressable market.”

In July 2020, the South Korean launch of The Kingdom of the Winds: Yeon for mobile was the top grossing title on the Apple App story and #2 on Google Play, 24 years after the launch of the initial The Kingdom of the Winds game in 1996. In August of 2020, the highly-anticipated release of Dungeon&Fighter Mobile in China generated more than 60 million pre-registrations before it was delayed. In March 2022, Dungeon&Fighter Mobile was released in South Korea, reaching the #1 spot on both the App Store and Google Play.

It has already announced it will be publishing ARC Raiders, The First Decendant, Project AK and KartRider: Drift for both PlayStation 4 and Xbox. Nexon previously published one title for PlayStation 4 in 2017, Lawbreakers from Boss Key Productions.

See also

References

  1. ^ "Locations". NEXON Corporate Profile. Retrieved November 24, 2021.
  2. ^ Eric Johnson (February 12, 2014). "Nexon Names New CEO: Ex-EA Exec Owen Mahoney". Re/code.
  3. ^ Chris Shimamoto (May 15, 2014). "Nexon Surges as Online Game Maker Plans Share Buyback". Bloomberg News.
  4. ^ a b "Executive Team". NEXON Corporate Profile. Retrieved November 24, 2021.
  5. ^ a b c "Consolidated Financial Results for the Fiscal Year Ended December 31, 2021 [IFRS]" (PDF). Retrieved September 6, 2022.
  6. ^ "NEXON CO., LTD. : Shareholders Board Members Managers and Company Profile | JP3758190007 | MarketScreener". www.marketscreener.com. Retrieved May 20, 2022.
  7. ^ "Q2 2022 Investor Presentation" (PDF). Retrieved September 6, 2022.
  8. ^ a b "Nexon | About the Company". Nexon Official Website. Retrieved July 28, 2022.
  9. ^ "Introduction - NXC CORP".
  10. ^ Bruce Einhorn (August 21, 2014). "Nexon, Asia's 'Freemium' PC Game Pioneer, Gets More Mobile". Bloomberg Businessweek.
  11. ^ Bruce Einhorn. "What is Nexus?". Nexus Atlas. Retrieved December 21, 2014.
  12. ^ "Nexon Holdings history". KoreanGameWatch.com. Archived from the original on April 25, 2012. Retrieved October 5, 2011.
  13. ^ "Kru Interactive Profile". Kru Interactive. Archived from the original on March 3, 2012. Retrieved June 28, 2011.
  14. ^ John Gaudiosi (May 23, 2012). "Nexon Celebrates Seventh Anniversary Of MapleStory Game With Continued Success". Forbes.
  15. ^ "Nexon Holdings(NXC)". Korea Game Watch. Retrieved December 20, 2014.
  16. ^ "Maplestory". Nexon Korea Corporation. Archived from the original on October 1, 2011. Retrieved June 28, 2011.
  17. ^ Forbes Staff (April 24, 2013). "What Next for Kim Jung-Ju and Korean Online Gaming Company Nexon?". Forbes.
  18. ^ a b Lulu Yilun Chen and Jungah Lee (May 28, 2014). "Tencent $1 Billion Game Shows Global Hunt for Mobile Hits". Bloomberg News.
  19. ^ Xu Lin (February 7, 2014). "Top 10 free online games with highest revenues". China.org.cn.
  20. ^ "Nexon America Inc et al v. Gameanarchy LLC et al".
  21. ^ Kyt Dotson (December 7, 2014). "Despite Setbacks Nexon Sets $1.2 billion IPO for Dec. 14". SiliconANGLE.
  22. ^ "Nexon acquires DomiNations developer Big Huge Games". VentureBeat. March 10, 2016. Retrieved March 11, 2016.
  23. ^ "Nexon founder to sell controlling stake in gaming company's holding..." Reuters. January 3, 2019.
  24. ^ "Nexon founder scraps what could have been $16 billion gaming deal:..." Reuters. July 9, 2019.
  25. ^ "The Lego Group acquires bricklink, the world's largest online LEGO® fan community and marketplace to strengthen ties with adult fans". November 25, 2019. Retrieved November 25, 2019.
  26. ^ Leung, Ruby. "Korean Gaming Giant Nexon To Spend $1.5 Billion On Global Entertainment Companies". Forbes. Retrieved June 6, 2020.
  27. ^ "Nexon invests $874 million in Hasbro, Bandai Namco, Konami, and Sega Sammy". VentureBeat. March 28, 2021. Retrieved March 29, 2021.
  28. ^ "Krafton feeds game pipeline upon fast move to the top-tier group ahead of IPO - Pulse by Maeil Business News Korea". m.pulsenews.co.kr (in Korean). Retrieved December 25, 2021.
  29. ^ https://deadline.com/2021/07/video-game-nexon-film-tv-disney-activision-blizzard-nick-van-dyk-1234793007/<ref> In January 2022, Russo brothers-owned film production company AGBO sold a $400 million minority stake to Nexon, which is valued at $1.1 billion as Nexon takes a 38% stake.<ref>Vlessing, Etan (January 5, 2022). "Joe and Anthony Russo's AGBO Sells $400M Stake to Nexon". The Hollywood Reporter. Retrieved January 5, 2022.
  30. ^ Vlessing, Etan (January 5, 2022). "Joe and Anthony Russo's AGBO Sells $400M Stake to Nexon". The Hollywood Reporter. Retrieved January 5, 2022.
  31. ^ "Saudi acquires 5% stake in Capcom and Nexon gaming firms worth $1bn". Middle East Monitor. February 6, 2022. Retrieved February 7, 2022.
  32. ^ "Consolidated Financial Results for the Fiscal Year Ended December 31, 2017" (PDF). NEXON Investor Relations. Retrieved July 17, 2018.
  33. ^ "Consolidated Financial Results for the Fiscal Year Ended December 31, 2020 [IFRS]" (PDF). NEXON Investor Relations. Retrieved April 27, 2021.
  34. ^ "Nexon offers all its employees a big pay rise". koreajoongangdaily.joins.com. February 1, 2021. Retrieved September 30, 2022.
  35. ^ Howard, Jessica (September 8, 2022). "MapleStory Publisher Offers A Closer Look At Turn-Based Hero Game Argent Twilight". GameSpot. Retrieved September 15, 2022.
  36. ^ Derrick, Connor (September 14, 2022). "Tales Weaver: Second Run, a reimagining of the 18 year old MMO, opens up pre-registration for Japanese audiences". Pocket Gamer. Retrieved September 15, 2022.
  37. ^ Cinderboy (September 14, 2022). "Warhaven – Nexon reveals Global Beta Test schedule for new medieval fantasy 16 vs 16 title". MMO Culture. Retrieved September 15, 2022.
  38. ^ a b c "Nexon FY22 Q2 earnings presentation" (PDF). Nexon IR website. Retrieved September 20, 2022.{{cite web}}: CS1 maint: url-status (link)

External links

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