Nexon invests $874 million in Hasbro, Bandai Namco, Konami, and Sega Sammy

Nexon, the Tokyo-based maker of Maplestory and different on-line video games, has invested $874 million in Hasbro, Bandai Namco, Konami, and Sega Sammy.

Nexon stated it has made an unrealized acquire of $279 million at the long-term investments, but it surely has no aim of obtaining the corporations or making activist shareholder proposals with the investments.

Nexon made different investments as nicely, however the quantities didn’t meet the corporate’s threshold for disclosure.

In 2020, Nexon’s board approved as much as $1.five billion for funding in leisure corporations that exhibit the power to expand and maintain sturdy globally known highbrow belongings.

Those are long-term pleasant investments and not using a aim of acquisition or activism. As of the top of 2020, Nexon finished investments totaling ¥92.four billion ($874 million) which represents 58% of the approved quantity.

Owen Mahoney, CEO of Nexon

Above: Owen Mahoney, CEO of Nexon

Symbol Credit score: Nexon

“We imagine corporations with sturdy, well-managed international IP are incessantly lost sight of and undervalued in a marketplace this is narrowly interested by introductions of latest IP,” stated CEO Owen Mahoney, in a commentary. “Those investments mirror our appreciate for control groups that create and develop international homes over a length of years and a long time. We imagine that every has doable to capitalize at the secular shift from linear codecs to interactive leisure.”

Mahoney added, “Those investments constitute a excellent use of our money in a low-interest setting and we’re extraordinarily happy with the preliminary effects. Whilst leveraging partnerships was once now not a attention in our funding selections, we’re happy with the discussion that has ensued with some corporations.”

Nexon has $four.eight billion in money, and shareholders have puzzled how the corporate would make investments that cash. Nexon has began a proportion buyback program, but it surely assists in keeping producing more money thru video games equivalent to Maplestory and Dungeon Fighter, that have maintained forged enlargement thru a long time. Nexon had $2.7 billion in revenues in 2020.

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