Nexon reports positive quarter, poor performance in North America

Nexon saw solid revenue and profit increases for the first quarter of its fiscal year, thanks to a major sales spike in Japan.

The publisher reports Japanese net revenue of 9.9bn yen, a 222 per cent year-over-year increase from the same three-month period during the year prior. The firm’s increase in net profit came in even stronger, up 448 per cent to 1.9bn yen.

Total revenue for the period was up 36 per cent, coming in at 44.4bn yen; while net profit increased 19.1 per cent to 15.4bn yen.

The boom is due in large part to Nexon’s 2012 acquisition of Japanese mobile developer Gloops Inc. – a $470m investment for the company.

The result from the US market was the one blemish to come out of the report. While the territory saw a revenue increase of nearly 10 per cent to 1.5bn yen for the quarter, Nexon took on a bigger loss (182m yen) than the same period in 2012 (145m yen).