“Although Korea is the country and the market beared and developed the online games, I believe the actual birthplace of the games is Japan in terms of traditional meaning. Nexon will become a recognized company through this listing in Japanese stock market,” said SeungWoo Choi the CEO of Nexon Japan at the conference call on the 14th of December.
Nexon went public yesterday with 1,300 yen(US$16.65) per share and concluded the first day of trading with 1,270 yen(US$16.27), totalling up 54 million yen(US$692M) which is the biggest initial public offering(IPO) ever in Japan this year.
SeungWoo Choi the CEO of Nexon Japan
The CEO of Nexon Japan chose two words ‘Creative’ and ‘Globalization’ which are the founding ideas of Nexon for listing in Japanese stockmarket instead of neither the U.S. nor home makrets. “Japan is a country with the best perception of the game, good product quality, and gamers with high understanding of the game. I believe Nexon’s creativity will be even more beefed up if the company succeeds getting good recognition in such market.”
Choi also said Nexon will become the first Korean company exceeding the annual revenues of 1 trillion won(US$862M) in 2011. “In conservative view, we are expecting US$1B revenues, US$475M business profit, and US$332M net profit at the year-end settlement. 35% of the revenues comes from Korea, 31% China, 18% Japan, 8% the U.S., and 8% other regions.”
Going public in Tokyo Stock Exchange, Nexon seems to secure immense fund about 1.3T won(US$1.12B).