CEO Chang Hyun-guk credited the Mir 4 online game, the first Korean game to allow non-fungible token (NFT) trading between users, and the gains generated by the Wemix cryptocurrency issued by the company. Its net came in at 485.2 billion won, a "dramatic increase" according to the company and far above expectations of 118 billion won. Kosdaq-listed Wemade turned to profit for the first time in six years.
Kakao Games will market Odin in other countries after seeing how things unfold in Taiwan, Cho said.Ĭhang Hyun-guk, CEO of Wemade, explains the company's goals for 2022 during a conference call on Wednesday. But for now, we are going to focus on maximizing the brand value of Odin through global expansions." Odin will be available in Taiwan in the first half of this year, but a date has not been set yet.
"With that in mind, the company will need to go public at the best time for Odin. "We believe that Odin has proven its potential to survive in the long run," Cho said. The company is looking to take Lionheart Studio public, but a schedule has not been set yet, Kakao Games CEO Cho Kye-hyun said at a conference call on Wednesday. 1, giving it a 51.95-percent share in the developer. Kakao Games bought 30.4 percent of Lionheart Studio for 450 billion won on Nov. The growth in profit was driven by sales of its mobile games, namely Odin, and having cut the commission charge it has to pay to Odin developer Lionheart Studio by acquiring a majority stake in the company. Kakao Games is 43.6 percent owned by Kakao, 4.16 percent by Netmarble and 4.16 percent by Shenzhen's Tencent Holdings. Yearly operating profit increased by 71.9 percent to 114.3 billion won. The company's annual revenue came in at all-time high of 1.01 trillion won, jumping by 104 percent compared to the previous year. The Korea Exchange-listed company posted 520.3 billion won ($434.8 million) in net profit, compared to the 115-billion-won market consensus compiled by FnGuide. Kakao Games' Odin: Valhalla Rising Kakao Games reported a 671 percent surge in annual net profit in 2021, beating analyst expectations by almost fivefold with the success of its online game Odin: Valhalla Rising released last August. Other games also set for release this year include KartRider Drift, HIT2 and Mabinogi Mobile. It will start offering the mobile version of its Dungeon Fighter roleplaying game on March 24.
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The new Blue Archive game came out in November, but two months weren't enough to lead the annual growth trajectory." Nexon hopes for a better 2022 with a new lineup. "We focused on developing new franchises last year, which meant that we didn't get to release new games as much," said a company spokesperson. Revenue fell by 6 percent on year to 274.5 billion yen in 2021, and operating profit fell by 18 percent to 91.5 billion yen. Nexon's 2021 revenue and operating profit fell compared to 2020, when it hit record-high figures. The company posted a 6.57 billion yen gain from foreign exchange, and the value of Nexon's other assets also grew, a company spokesperson said. The Seoul-founded, Tokyo-listed game company's net was 114.9 billion yen ($995.1 million), up 104 percent. Mabinogi Mobile, an upcoming game developed by Nexon's subsidiary Dev Cat Gaming companies, beaten up by disappointed gamers and investors, have reported strong 2021 earnings, though some of the profits are due to crypto investments other one-offs.
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