Nexon stock price sets new high amid outlook on record earnings

A promotion image of Nexon's The First Berserker: Khazan / Courtesy of Nexon

Gaming giant Nexon has set a new high in its stock price on the back of the strong global launch of its latest titles and solid performance of its long-running franchises, driving its market capitalization to reach 3.1 trillion yen ($19.8 billion).

The Korean company’s stock closed at 3,768 yen on the Tokyo Stock Exchange Thursday, surpassing its previous all-time high set in April 2021. It has been trading in the 3,600 yen to 3,700 yen range since the third-quarter earnings were released on Nov. 11, and managed to reach a new high as investors showed confidence in Nexon’s long-term growth trajectory.

Nexon noted that its CEO Lee Jung-hun’s intellectual property (IP) strategy has played a crucial role in the market optimism. During Nexon’s Capital Markets Briefing in Tokyo last September, Lee outlined a two-track plan focused on vertical growth through core IP expansion and horizontal growth by cultivating new IP, targeting to raise its revenue to 750 billion yen by 2027.

“Under the IP expansion strategy, (Nexon) plans to accelerate the growth of both its core franchises and new IP,” Lee said during the third-quarter earnings call. “The company seeks to diversify its portfolio, generate sustainable profits and further strengthen its position in the global market.”

A poster for MapleStory / Courtesy of Nexon

Nexon’s expertise in operating live service games has driven its notable performance across its franchises. MapleStory posted a roughly threefold year-on-year increase in sales with its player-focused updates, while Dungeon Fighter Online and EA Sports FC Online maintained solid growth.

While its flagship titles are showing a stable trajectory, new titles released this year are diversifying the company’s portfolio to enable horizontal growth.

Mabinogi Mobile, a mobile remake of 2004 title Mabinogi, is continuing its success since its March launch, winning the top prize at the 2025 Korea Game Awards. The First Berserker: Khazan, which also rolled out in March, won accolades at the awards for the best game and technical creativity for its refined action mechanics and storytelling.

Embark Studios’ ARC Raiders, which launched globally on Oct. 30, surpassed 4 million sales within only two weeks, underscoring its strong global traction, while MapleStory: Idle RPG has also been seeing soaring popularity since its Nov. 6 release.

Riding on the momentum, the company is predicted to set new records with its fourth-quarter and full-year results as the synergy between its legacy titles and new launches takes hold.