Nexon Korea distributes 6561 billion won to its Japanese headquarters,’the largest ever’

Input 2021.02.14 19:26

It was found that Nexon Korea distributed 650 billion won in cash to its parent company, Nexon, Japan last year. This is an increase of more than 30% from the previous year, the largest ever.

According to the Japan Electronic Disclosure (EDINET) on the 14th, Nexon Korea decided to allocate a surplus of 29.84 billion yen (about 317 billion KRW) to Nexon at the end of the year on the 9th.

Earlier last year, Nexon Korea distributed 3,1443 billion yen (about 3358 billion won) to Japan’s Nexon. Together, it means that a total of 6,1818 billion yen (about 6561 billion won) was allocated to the head office per year.

Dividends to Japanese shareholders who purchased Nexon’s stock listed on the Japanese stock market are also expected to increase significantly. Nexon decided to give a total of 5 yen per share as a dividend for last year’s performance, which is twice the amount of the previous year (2.5 yen).

Meanwhile, about half of the dividend will go back to NXC, a Nexon holding company owned by Nexon founder Kim Jung-joo and his family. As of the end of 2019, NXC, owned by CEO Kim, his wife, and two children, owned 28.7% of Nexon in Japan, and NXMH BV, a 100% subsidiary of NXC, owned 18.9%.

With this dividend, NXC will receive 2.1 billion yen (about 22.4 billion won) from Nexon. An official from Nexon Korea said, “It will be used to enhance the corporate value of the Nexon Group as a holding company such as investment in the global region, social contribution, and strengthening the Nexon Company branding.”