Nexon Co Ltd at Goldman Sachs Communacopia Conference (Virtual) Transcript
Hello, everyone. Thank you very much for joining this session. My name is Minami Munakata. I'm games and internet analyst based in Japan. And Michael Ng, video games, theatre, internet and toys analyst based in U.S. is joining as well.
Today, we have Owen Mahoney. Owen is President and CEO of NEXON, one of the world-leading video game publishers and developers. NEXON was founded in Korea 1994 and now headquarter in Tokyo and traded on the Tokyo Stock Exchange. NEXON pioneers the general of deeply immersive multiplayer online games. And revenue from strong franchise provide NEXON with USD 1 billion in annual operating cash flow and the balance sheet with USD 5 billion in cash. Liquidity will be invested in acquisition, new IT and other growth opportunities.
In 2019, NEXON completed the acquisition of Stockholm-based Embark Studio for -- studio which is developing games primarily for western audience. And earlier this year, Nexon announced USD 1.5 billion initiative for investing in companies with strong
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