NEXON (3659) CMD 2026 summary

Strategic vision, leadership, and transformation

• Leadership is accelerating global growth, transforming development processes, and instilling cost discipline to drive profitability and sustainable expansion.

• The Executive Chairman role separates strategy and vision from day-to-day execution, with weekly executive meetings and portfolio reviews for rapid decision-making.

• The company is shifting to fewer, high-conviction projects, with rigorous cost and margin scrutiny and ongoing project restructuring or cancellation.

• AI and data-driven development, especially through the Monolake initiative, are central to future creative and operational efficiency.

• M&A will be pursued selectively, focusing on sustainable creative teams, player communities, and strict margin requirements.

Franchise and product strategy

• MapleStory achieved 43% YoY growth in 2025, with further double-digit growth expected in 2026, driven by PC recovery, new experiences, and regional diversification.

• The MapleStory blueprint is being applied to other franchises, emphasizing core expansion, nostalgia, casual experiences, and hyper-localization.

• Dungeon & Fighter faces a rebuilding year for mobile in 2026, with new titles like Idle RPG and ARAD expected to drive growth from late 2026 onward.

• FC and Mabinogi franchises are leveraging mobile launches, cross-platform synergies, and major events like the World Cup for growth.

• Six new games, including Dungeon & Fighter Idle RPG, OVERKILL, ARAD, Vindictus: Defying Fate, and NAKWON, are highlighted for future profitability.

Financial outlook and shareholder returns

• Record revenue of JPY 475.1 billion in 2025, with flat operating income due to rising costs and deferred revenue; over ¥800B in cash and eight consecutive years of ¥100B+ operating cash flow.

• 2026 is positioned as the first year of transformation, with expected YoY growth in both revenue and operating income, and improved margins.

• Shareholder returns included doubling the dividend, ¥97B in share buybacks in 2025, and a planned annual dividend of JPY 60 per share for 2026.

• Shareholder return policy has consistently exceeded the formal commitment, with ¥380B returned since 2019.

• Cost discipline includes flat HR and marketing costs, resource reallocation, and strict ROI-based project reviews.