Nexon stock price sets new high amid outlook on record earnings

Gaming giant Nexon has set a new high in its stock price on the back of the strong global launch of its latest titles and solid performance of its long-running franchises, driving its market capitalization to reach 3.1 trillion yen ($19.8 billion). The Korean company’s stock closed at 3,768 yen on the Tokyo Stock Exchange Thursday, surpassing its previous all-time high set in April 2021. It has been trading in the 3,600 yen to 3,700 yen range since the third-quarter earnings were released on Nov. 11, and managed to reach a new high as investors showed confidence in Nexon’s long-term growth trajectory. Nexon noted that its CEO Lee Jung-hun’s intellectual property (IP) strategy has played a crucial role in the market optimism. During Nexon’s Capital Markets Briefing in Tokyo last September, Lee outlined a two-track plan focused on vertical growth through core IP expansion and horizontal growth by cultivating new IP, targeting to raise its revenue to 750 billion yen by 2027. “Under the IP expansion strategy, (Nexon) plans to accelerate the growth of both its core franchises and nWeiter zum vollständigen Artikel bei Korea Times Weiter zum vollständigen Artikel bei Korea Times