Nexon targets US$5.1 bln in annual revenue by 2027 through global expansion

South Korean gaming giant Nexon Co. said Tuesday it aims to raise annual sales to 750 billion yen (US$5.1 billion) by 2027 by diversifying its blockbuster titles across various platforms in the global market. During a capital markets briefing held in Tokyo, Nexon CEO Lee Jung-hun outlined its growth plan centered on developing more games based on its existing intellectual property (IP) rights and "hyperlocalization" to cater to different markets. "We have set the targets of 750 billion yen in revenue and 250 billion yen in operating income for 2027," Lee said. Nexon, which was founded in Korea but is listed on the Japanese stock market, posted annual sales of 423 billion yen and an operating profit of 135 billion yen last year. "The projects that will stand out in the coming three years will be new titles based on the existing blockbuster IPs," Lee said, explaining the company will work to gain a stronger foothold in the global game market with the new releases. Source: Yonhap News Agency