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Nexon Co. is one of South Korea’s leading game publishers today, and it also has offices in Japan and the U.S. Now it was reported that it has spent about $874 million to invest in major toy and game companies that have strongholds in the American and Japanese soils.
New investment in toy and gaming business
Korea’s Maeil Kyeonje News reported that Nexon disclosed on Monday, March 29, that it made multi-million investments in America’s Hasbro Inc., Japan’s Bandai Namco Holdings, Konami Holdings and Sega Sammy Inc. Nexon stated that it chose these companies as they have shown their great ability in creating and selling highly profitable products in the gaming and entertainment trade worldwide.
Proving that it was a smart move, Nexon shared that it has instantly gained $279 million on the investment that the company did not expect at all. The game publisher company said that the deal was already completed in the last quarter of 2020. It shelled out $874 million at that time which is around 58% of the $1.5 billion funding money that was approved by the company’s board of directors.
“We believe companies with strong, well-managed global IP are often overlooked and undervalued in a market that is narrowly focused on introductions of new IP,” Owen Mahoney, Nexon’s president and chief executive officer said in a press release. “These investments reflect our respect for management teams that create and grow global properties over a period of years and decades. We believe that each has the potential to capitalize on the secular shift from linear formats to interactive entertainment.”
Nexon’s disclosure of investment plans
It was in 2020 when Nexon unveiled its plans to invest $1.5 billion for the company’s growth. The board revealed this amount for investment as early as June of last year.
At that time, Nexon said that it will make good use of the company’s money in “a market defined by low-interest rates.” The game publisher did not reveal the names of firms it will invest in and finally, they have been named.
Apparently, these are big entertainment firms that will surely give back what Nexon has invested in them in the coming years. Nexon surely picked the best companies in the trade and now it has yet to be revealed what products will debut from these deals.
