[Public Notice＋] Daewon Media Reports Operating Profit of 3.7 Billion KRW Last Year... Sales Exceed 100 Billion KRW for 3 Consecutive Years

[Asia Economy Reporter Kum Boryeong] Daewon Media's sales have surpassed 100 billion KRW for three consecutive years.

Daewon Media announced on the 25th that its consolidated sales last year reached 191.5 billion KRW, exceeding 100 billion KRW for three consecutive years.

The sales of 191.5 billion KRW represent a 17.2% increase compared to the previous year. This growth is attributed to the release of the new Nintendo Switch model (with improved battery efficiency) and Nintendo Switch Lite, the continuous official domestic release of popular Nintendo Switch game titles leading to increased software sales, as well as the expansion of the toy distribution business lineup and distribution channels.

Operating profit was 3.66 billion KRW, and net profit was 3.18 billion KRW, down 42.8% and 23.4% respectively from the previous year. This decline is due to an increase in allowance for inventory valuation caused by the rise in imported goods, increased depreciation, operating expenses, and labor costs related to facility investments such as Popcorn D Square operated by Daewon Media, a downturn in subsidiary performance due to the offline publishing market slump, and direct and indirect impacts from the deterioration of Korea-Japan relations.

A Daewon Media representative stated, "As the lineup of new Nintendo Switch titles continues, we expect the Nintendo Switch to receive much love from the public this year as well, and the share of Nintendo Switch in the domestic game market is expected to continue growing. Next month, the TV broadcast of 'Zoids Wild ZERO' will begin, and in April, 'Time Traveler Luke,' which Daewon Media invested in production, is also scheduled for TV broadcast. Through this, we plan to promote various licensing businesses by intellectual property (IP) to diversify our business. This year, Daewon Media will strive to achieve continuous growth and profit increase to enhance corporate value and shareholder value," the representative explained.

This content was produced with the assistance of AI translation services.