Nexon Revises First Quarter 2013 Business Outlook

Business Wirevia The Motley Fool
Updated

Nexon Revises First Quarter 2013 Business Outlook

TOKYO--(BUSINESS WIRE)-- NEXON Co., Ltd. ("Nexon") today revised its business outlook for the three months ended March 31, 2013, previously disclosed on February 13, 2013. As announced on April 22, 2013, Nexon has implemented International Financial Reporting Standards (IFRS) for its consolidated financial statements, beginning with the first quarter ended March 31, 2013. The following revision is prepared in accordance with IFRS.

1.

Revision to consolidated results forecast for the three months ended March 31, 2013
(January 1 through March 31, 2013)

(Units: millions of yen, %)

Revenue

Operating
Income

Income
Before
Income Tax

Net Income

Net Income
Attributable
to Owners of
the Parent

Basic
Earnings
per Share
from
Continuing
Operations

Initial forecast
(J-GAAP) (A)

35,965
-
38,519

12,330
-
14,378

-

7,840
-
9,318

-

18.00
-
21.39

Initial forecast
(IFRS) (B)

35,975
-
38,529

13,514
-
15,562

13,298
-
15,348

9,234
-
10,719

9,140
-
10,618

20.98
-
24.38

Difference (B-A)

10

1,184

-

1,394
-
1,401

-

Percentage
change (%)

0.0%

9.6%
-
8.2%

-

17.7%
-
15.0%

-

Revised forecast
(IFRS) (C)

44,000

20,000

22,000

15,000

15,000

35.00

Difference (C-B)

8,025
-
5,471

6,486
-
4,438

8,702
-
6,652

5,766
-
4,281

5,860
-
4,382

Percentage
change (%)

22.3%
-
14.2%

48.0%
-
28.5%

65.4%
-
43.3%

62.4%
-
39.9%

64.1%
-
41.3%

2.

Reason for revision
The revised guidance reflects better than expected performance during the first quarter from existing titles in China and Korea, a favorable currency environment and the adoption of International Financial Reporting Standards (IFRS).

Note: Please be aware that the forecast above is based on information available at the present time. The actual performance may differ significantly depending on various factors in the future.


About NEXON Co., Ltd.http://company.nexon.co.jp/

NEXON Co., Ltd. ("Nexon") (3659.TO) is a worldwide leader in free-to-play online games. Founded in Korea in 1994, Nexon developed one of the world's first graphics-based massively multiplayer online games. Nexon also pioneered the concept of microtransactions and the free-to-play business model, setting a new standard in which play is free, and users have the option to purchase in-game items to enhance their experience. Nexon currently services nearly 60 online games in more than 100 countries and since its founding, Nexon has generated more than 1.4 billion player registrations. The Company is headquartered in Tokyo, Japan and its shares are listed on the Tokyo Stock Exchange.



NEXON Co., Ltd.
Seungwoo Choi, President and Representative Director
Owen Mahoney, Director, Chief Financial Officer and Chief Administrative Officer
03-3523-7910

KEYWORDS: Asia Pacific Japan

INDUSTRY KEYWORDS:

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