Company Overview

Transcription

Company Overview

Disclaimer
All information as to managerial and financial performance of YD Online(hereinafter the ‘Company’) contained in this material has been prepared in accordance with the business accounting standards
and the Korean International Financial Reporting Standards(K-IFRS).
This material includes ‘pro forma financial statements’, including future sales, which are based on our estimation and are incorporated into managerial performance with the use of such terms as
‘anticipation’, ‘prospect’, ‘plan’, ‘expectation’, ‘E’, and ‘F’.
The ‘pro forma financial statements’ above may be significantly subject to changes in managerial environment and uncertainties may create significant difference between the present and future
managerial performance. In addition, a variety of indexes and indicators have been prepared with the present market conditions and the company’s managerial performance and policies taken into
account, and may create discrepancies depending on fast changing market environment and investment environment, and the company’s strategic change of goals and objectives.
Therefore, investors are advised to read business reports and announcements of the company before making investment decisions and we are not held accountable for the outcome of investment
based on the information presented in this material, which under no circumstances influence the investment outcome.
Copyright ⓒ YD Online Corp.
2016 Investor Relations
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CONTENTS
Chapter 01_Company Overview
Chapter 02_Market Overview
Chapter 03_Investment Highlights
Chapter 04_Appendix
Chapter 01
Company Overview
01. Introduction to Company
02. Introduction to Management
03. Game Portfolio
04. Growth Story
05. Outstanding Achievements
• Quarterly
• Annual
Company Overview
Company Overview
Shareholders
(Unit(unit:
: share,
%)
주, %)
Company
Name
YD Online Corp.
Shinian,Inc.
52.31
CEO
CEO Sang-cheol Shin
38.59
Establishment June 30, 1997
Employees
22,181,700
Employee stock ownership association
Sang-cheol Shin
Treasury Stock
Others
4.77
3.83
Capital Stock 11,091 million won
CEO
Employees
Total Assets
Total
Liabilities
Website
Head Office
Employees
Business
Category
27,302 million won
15,947 million won
www.ydonline.co.kr
Seongho Bldg., 20, Hakdong-ro 97-gil, Gangnam-gu, Seoul
220
Development and and services of mobile games and
online games
* Note: As of March 31, 2016
Category
(unit: share, %)
Present
Number of
shares
After Conversion
Share ratio
Number of
shares
Share ratio
Shinian, INC.
8,560,567
38.59
8,560,567
37.03
CEO Sang-cheol
Shin
1,057,311
4.77
1,157,311
5.01
850,000
3.83
850,000
3.68
6,691
0.03
6,691
0.03
103,347
0.47
103,347
0.45
11,603,784
52.31
12,442,036
53.80
22,181,700
100.00
23,119,952
100.00
Employees
Employee stock
ownership
association
Treasury Stock
Others
Total
* Note: As of March 31, 2016
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5
Company Overview
CEO
Management
CEO Sang-cheol
Shin
Responsi
bility
Name
Title
Jeongheon Yu
Internal
director
(Registered)
Hyeoksang Yu
Internal
director
(Registered)
Jaehyeok
Lee
Outside
director
(Registered)
Jaeyeong
Park
Director (Nonregistered)
Manage
ment
Formerly NEOWIZ Games
Gwangse Park
Director (Nonregistered)
Manage
ment
Formerly CEO of Eduflo
Manage
ment
advisory
service
Manage
ment
advisory
service
Manage
ment
advisory
service
Career
Formerly Korea
Development Bank
Formerly Daewoo
Securities Co.,Ltd
Formerly assistant
professor at San José State
University
• Formerly director of development in Game Division
of NHN
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Company Overview
Major Mobile games
PC online games
In service

 The God of High School [Mobile RPG]
Icarus [MMORPG]
 Overload of The Sky(working title) [Mobile RPG]
To be released
 Legend of MIR 2
[Oriental Chivalry MMORPG]
 Noblesse: to be released in Q4 of 2016
 LOOKISM: to be released in Q4 of 2016
 Legend of MIR 3
[Oriental Chivalry MMORPG]
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Company Overview
Beginning
2001
• Developed Korea’s first 3D
MMORPG ‘Priston Tale’
(Tri glow Pictures)
Take over
Mirae Asset PEF
IPO / M&A
2005
• ‘Audition’ launched in Korea
• Priston Co., Ltd. bought out
‘Emotion’ listed in KOSDAQ and
backdoor listed in KOSDAQ
2008
• ‘Priston Tale 2’ launched in Korea
• Awarded in Korean Game Awards
• Awarded $3 million Export-Tower
Award
2009
• ‘Shinian,INC.(Mirae Asset
PEF)’ became the new shareholder
with the largest share
• Changed the company name
to ‘YD Online’
2012
• CEO Sang-cheol Shin inaugurated
• Published a mobile game,
‘Montowers’
• Commenced the Mobile games
operating agency business
(Anipang, Dragon Flight, Arrow,
Wind Runner etc.)
Post mobile
2013
• Launched a self-developed mobile
RPG ‘Brave Brigade’, ranked #20
on Google Play Top-Grossing chart
2014
• Launched the mobile strategic
simulation game ‘Evangelion’ in
Japan, co-developed with a
Japanese company DENA
• Mobile action RPG ‘Meet the
Dragon’ published and ranked
#11 on Google Play Top-Grossing
chart
• Lunched the self-developed
‘Brave Brigade' with the title of
'Albion Senki' through LINE Japan
2015
RPG ‘The God of High School’ in
May
• Ranked #8 on Google Play TopGrossing chart in just 9 days upon
release, and ranked up to #6
• Ranked #1 on Apple Store
Grossing chart.
• Published online masterpiece RPG
‘Icarus’, ‘Legend of Mir 2,3’ in June
2016
• ‘The God of High School’ made
successful entry into ‘with NAVER
WEBTOON’ platform
RPG ‘Overload of The Sky : Infinite
Warfare’(working title) in May
• Development of webtoon IP-based
mobile games, such as ‘Noblesse’,
‘LOOKISM’ is underway
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Company Overview
‘The God of High School’ awarded ‘Excellence Award’
in Mobile Game segment of 2015 Korea Games Awards
 Excellence of the game and the development capacity are reaffirmed by winning ‘Excellence Award’ in 2015 Korea Games Awards,
the Korea’s most prestigious game awards ceremony
 Emerged as the first successful webtoon IP-based mobile game with record-breaking popularity in game industry
* Source: The Herald Business (November 12, 2015)
- Story mode screenshot -
- PVP mode screenshot -
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Company Overview
Q1 2016 saw a sharp rise both in year-on-year sales and operating income
 Sales in Q1 2016 rose by 124.5% YoY, due to expansion of capacity for mobile games and increase on new games line-up,
claiming the largest relative portion of mobile games up to 58.2%.
 Operating income and net income in Q1 2016 successfully
Sales
Operating Income
turned into profit compared to the same period last year.
(unit: million won)
Net Income
Online
on-line
Mobile
(unit: million won)
others
14,148
10,986
7,639
6,391
6,029
4,473
4,462
4,893
3,136
-1,416
-1,569
958 719
-979
FY15(Q1)
FY15(Q4)
353
FY16(Q1)
481
78
FY15(Q1)
Category
(million won, %)
Sales
Operating
Income
Operating
Income Ratio
FY15(Q1)
FY15(Q4)
FY16(Q1)
4,893
14,148
10,986
-1,416
3,136
958
YoY
Category
(million won, %)
QoQ
124.5
return to
profit
-22.3
-69.5
-28.9
22.2
8.7
-
-
Net Income
-1,569
-979
719
return to
profit
return to
profit
Net Income Ratio
-32.1
-6.9
6.5
-
-
Mobile
Online
Others
Total
122
FY15(Q4)
FY16(Q1)
FY15(Q1)
FY15(Q4)
FY16(Q1)
YoY
QoQ
353
7,639
6,391
1,711.8
-16.3
7.2
54.0
58.2
-
-
4,462
6,029
4,473
0.2
-25.8
91.2
42.6
40.7
-
-
78
481
122
56.4
-74.5
1.6
3.4
1.1
-
-
4,893
14,148
10,986
124.5
-22.3
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Company Overview
Showing high growth potentials with the self-developed mobile games,
expanding the relative portion of mobile games for three consecutive quarters
 Raising expectations for further increase of sales through a new masterpiece, ‘Overload of The Sky : Infinite Warfare(working title)’ to be
released in Korea and ‘The God of High School’ to be introduced in Japanese market, in Q2 and Q3 2016
Sales Status
Mobile games
Online games
Others
(unit: million won)
15,585
14,148
6,827
8,240
7,620
8,513
8,785
9,004
9,323
8,169
7,563
6,071
5,659
7,425
7,436
7,232
4,799
5,391
4,631
4,748
180
341
696
1Q13
2Q13
3Q13
Category(unit: million won, %)
Amount
Mobile games
4Q13
1Q14
830
2Q14
FY13
3Q14
4,893
4,461
1,243
353
4Q14
1Q15
FY14
8,079
7,639
4,111
2Q15
FY15
6,391
3Q15
4Q15
1Q16
FY16(Q1)
CAGR('12~15)
6,595
20,182
6,391
309.9
8.1
24.0
45.9
58.2
-
29,713
19,569
22,448
4,473
-14.1
Relative Ratio
86.0
71.3
51.1
40.7
-
Amount
2,014
1,298
1,319
122
10.9
5.9
4.7
3.0
1.1
-
34,542
27,462
43,949
10,986
6.2
Amount
Others
1,882
4,473
5,131
2,815
Relative Ratio
Online games
2,640
1,598
10,986
6,029
Relative Ratio
Total
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Company Overview
Maintains stable cash flows thanks to increase in sales
and cost reduction in operation of not-so-profitable games
Cost Status
Labor cost
Operating Income
Advertising cost
Commission fee
Others
(unit: million won)
Operating Income
39,275
36,491
5,762
4,674
30,779
28,780
FY12
Category
(million won)
Labor cost
FY13
FY12
FY14
FY13
FY15
FY14
FY15
FY16(Q1)
6,223
8,148
8,543
2,443
1,211
1,887
2,332
3,774
341
19,286
11,718
12,733
20,631
5,843
Others
8,862
8,952
7,566
6,327
1,401
Total
36,491
28,780
30,779
39,275
10,028
FY13
FY14
FY15
FY16(Q1)
FY16(Q1)
7,132
Advertising
cost
Commission
fee
958
-3,317
167
10,028
FY12
(unit: million won)
Category
(million
won,%)
FY12
FY13
FY14
FY15
FY16(Q1)
Operating
Income
167
5,762
-3,317
4,674
958
Operating
Income Ratio
0.5
16.7
-12.1
10.6
8.7
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Chapter 02
Market Overview
01. Global Mobile Games Market
02. Domestic Mobile Games Market
Market Overview
Mobile games is the fastest growing sector among game platforms,
CAGR(‘12~’17) estimated at 12.6%
 Global Mobile Games Market in 2015 is estimated at USD 21.3
 Korean, Chinese, and Japanese markets account for
billion, up 10.3% over last year
70% or more of Global Mobile Games Market, leading the mobile games market
 In particular, Korean and Chinese markets with low relative ratio of console games went through a huge transition from online games
to mobile games expansion with the explosive distribution of smart phones after 2010, and high preferences of mobile games in
hardcore genre are seen in those markets.
Mobile games market in Korea, China and Japan
Games market
Video game
Arcade game
Mobile game
PC game
5,438
Online game
5,605
5,736
22,946
25,224
27,587
30,277
32,482
34,200
23,044
26,423
25,701
25,899
25,938
25,985
25,958
7,615
7,390
7,171
6,792
6,281
44,288
2012
43,226
2013
45,177
2014
46,769
2015F
48,713
2016F
(unit: USD million)
Japan
24,626
19,343
5,232
13,605
China
5,771
5,219
17,204
21,342
Korea
(unit: USD million)
50,546
2017F
5,075
12,035
7,121
9,257
4,462
1,828
514
711
2,126
2,766
3,410
3,770
4,180
2012
2013
2014
2015F
2016F
2017F
* Source: PWC, Enterbrain, iResearch, Playmeter, Jamma, Korea Creative Content Agency, Hyundai Securities Co.,Ltd(as of 2015)
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Market Overview
Mobile games lead a paradigm shift
in games market,
CAGR(’13~’17) 17.3% estimated
Import/Export Status of domestic games (2014)
Export
Online Game
 Domestic Mobile Games Market in 2015 is estimated at 3.6
trillion won up 23% YoY
 Large publishers collect shares of blue chip developers
 ‘One Build’ strategy is no longer optional but required
 ‘App Market’ is increasingly important to achieve global
success
(unit: USD million)
Import
1,857
53
Mobile Game
1,099
20
17
93
Others
* Note: Others are total of video, PC, arcade game.
Domestic Mobile Games Market
Export target countries of domestic mobile games Ratio(2014)
(unit: 100 million won)
(unit: %)
44,028
35,916
39,708
China
10.6
25.6
6.0
29,136
23,277
North America
9.8
1,099.2 USD million
19.8
16.4
2012
2013
2014
2015F
2016F
South-East Asia
Europe
11.8
8,009
Japan
Taiwan
Others
2017F
* Source: Korea Creative Content Agency, Hyundai Securities Co., Ltd(as of 2015)
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Chapter 03
Investment Highlights
01. Future Growth Strategy
02. SWOT Analysis
06.Release of Mobile game version
of F ull 3D MMORPG ‘Priston Tale’
03. Utilization of Webtoons
07. Release of New Games
04. New Games Roadmap
08. Expand Global Presence
05. Entry into ‘with NAVER WEBTOON’
09. Performance Outlook
Platform
Grow into a Top Player in Global Mobile Games Market
Boost
internal
development
Utilization
of IP
Expand
global
services
• Secure quality self-developed new game pipeline (three in total) starting from The God of High
School
• Maximize self-development competences by retaining superior developers, including developerturned-CEO
• No.1 developer of mobile games utilizing Webtoon IP
• Expand the use of prestigious IPs at home and aboard and maintain long-term commercial success
based on users with high customer loyalty
• Expand global services by building in-house multi-language support system
• Sales growth and profit maximization through direct global services
(goal of creating the second Summoners War)
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SWOT Matrix
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Webtoon in progress of evolution beyond online cartoons
through OSMU(One Source Multi Use)
Online
cartoons
game
drama
movie
musical
advertising product
music
Export
book
Relevant
Business
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Webtoon market estimated at 880 billion won in 2018 with CAGR(’13~’18) projected at 42.5%
 Webtoon is making a sharp growth as a new cultural content market
 ‘NAVER WEBTOON’ feature more than 520 cartoons since the launch of the service in 2004 with daily visitors of 7.5 million
(as of December 2015)
 We are engaging in development of mobile games out of top IP cartoons in ‘NAVER WEBTOON’, the Korea’s largest webtoon site
Domestic webtoon market size
First-phase sales
Domestic webtoon site M/S
Second-phase sales
(unit: %)
(unit: 100million won)
8,805
53.6
7,240
5,845
4,200
37.3
3,708
2,957
2,275
1,250
1,500
2013
2,950
2,100
2014
2015E
3,570
2016E
4,283
2017E
5,097
2018E
* Note 1 : First-phase sales come from creation and distribution of online cartoons
* Note 2 : Second-phase sales come from income via OSMU, character products /advertising,
related industry. In addition, overseas export included with export target of cartoon
industry taken into account
* Source: KT Economics Management Research Institute (2015)
Naver
Kakao
3.0
2.8
2.0
0.9
0.4
Nate
Lezhin
Olleh
T-store
Others
Comics
webtoon
webtoon
* Source: Korea Creative Content Agency, Korea Investment & Securities Co., Ltd.(as of 2015)
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Iconic webtoon-based game developer - ‘YD
Online’
 Webtoon = composite word of Web + Cartoon
 KT Economics & Management Research Lab expects that
the Korea’s webtoon market will expand from 420 billion won
last year to 880.5 billion won by 2018.
 Webtoons are increasingly turning into secondary content
such as movie, drama and game
 Customer base is widening to include elementary school
students
* Source :e-Daily (May 11, 2016)
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Full-fledged development of new mobile games → Release → Global services
2015.05
The God of
High School
Release
domestic
Android
version
2015.Q4
Release
domestic
iOS version
2016.Q1
2016.04
2016.Q2
Entry into
‘with NAVER
WEBTOON’
platform
Overload of
The Sky
Release
domestic
Android
version
LOOKISM
IP
secured
Noblesse
IP
secured
2016.Q3
2016.Q4
Release in
Japan
Global
release
Release
domestic
iOS version
Global
release
2017.Q1
Release
domestic
Android,
iOS version
Global
release
Release
domestic
Android,
iOS version
Global
release
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Expect a big hit through the entry into ‘with NAVER WEBTOON’ Platform
starting from ‘The God of High School’
NAVER WEBTOON
Game screenshot
• Webtoon IP-based Mobile games ‘The God of High
• Korea’s largest webtoon site with daily visitors of 7.5
million or more
Features
• Majority of visitors are in their 10s and 20s
• New content services through online and mobile on
the basis of the day of the week
• Accounts for 53.6% of webtoon market (as of 2015)
Features
School‘ commenced NAVER WEBTOON channeling
from April
• Maximize fun through 400 or more characters with
their skills implemented based on formidable scenarios
of the webtoon
• Aggressive marketing support from NAVER to sustain
long-term popularity
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Development of mobile version of 13-year-long online game ‘Priston Tale’
Game Overview
IP Owner
Mobile
development
YD Online
‘FunCell123’, Chinese game developer
• First-of-its kind Full 3D MMORPG featuring colorful
graphics, exciting game play, and a brilliant sense of
hitting
• First-generation online game that has consistently been
serviced for the past 13 years
• The number of concurrent users reached 20,000 on
Features
average in initial stage
• Possess the IP related to mobile game of ‘Priston Tale’
→ Domestic and Japan service of mobile games created
by the use of Priston Tale’s IP will be led by YD Online
• If it hits the jackpot in overseas, royalty income from the
global services is expected to serve as a great cash cow.
• Discussion of developing ‘Priston Tale’ mobile game
with major countries around the world is underway
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Game Overview
Developer
Internally developed by YD Online
Launching
schedule
Launched in May 2016
Game screenshots
• Oriental fantasy world view and scenarios utilizing the
History of Three States and dragons
Features
• Fancy and dynamic full-3D RPG
• Inter-user plunder system utilizing GPS, large-scale
boss raid, inter-alliance(guild) total war, build powerful
social network with guild war system
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Noblesse
Developer
Launching
schedule
To be released in Q4 of 2016
Features
• Utilize popular webtoon IP on a par with ‘The God of
High School’
• Action RPG with maximum sense of control and
hitting
• Immersive scenarios along with colorful production
equivalent to animation
• Has been published since December 2007
• Score of Naver webtoon 9.8
• No.1 viewer rating in Tuesday webtoon
• Accumulated viewer count exceeded 1.3 billion
(published 324 series, as of June 2014) (Dong-a Ilbo)
Webtoon
Overview
• Sales of 120,000 volumes in book form (as of June 2014)
• View count per episode exceeding 3 million
• Ranked No.1 in mangafox, cartoon sharing site among
English speaking countries (as of January 2015) (The
Korea Economic Daily)
• High brand awareness in North American and EU
markets
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LOOKISM
Developer
Launching
schedule
To be released in Q4 of 2016
Features
• Horizontal scroll action RPG
• Party play PVP game
• Has been published since November 2014
• Famous CEO-turned-webtoon artist’s debut webtoon series
with tremendous responses from the first episode released
Webtoon
Overview
• Average viewer count per episode exceeding 500,000
• Score of Naver webtoon 9.9
• Ranked 4th among webtoons loved by people in their
20s (The financial News)
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Expanding global presence based on success know-how accumulated for the past year
with ‘The God of High School’
 Experience of providing services in 80 different countries around the world for the past 10 years with various games, including ‘ Audition’
 We retains experience of global services, including ‘Evangelion’ service with ‘DeNA’ in Japan, ‘Albion Senki’ service with ‘Line’ in Japan,
and global service of ’Brave Brigade’
• To be released in Japan in Q3, 2016
• To be released globally in the
second half of 2016
• To be released globally in Q4, 2016
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 Sales growth for two consecutive years anticipated after hitting the bottom in 2014
 Secure stable CASH COW by boosting publishing with focus on online games in 2015
 Full-fledged growth and development into a mobile game specialist developer in 2015 and enlarged mobile game market share by

expanding new game line-up
Anticipate the largest profitability ever since the foundation thanks to positive outlook for sales in 2016 and efficient cost
management
Growth Outlook
Profitability Outlook
Mobile Game
Online Game
(unit: million won)
(unit: million won)
5,762
4,674
36,658
966
35,399
43,949
1,319
34,542
2,014
29,713
27,462
1,298
22,448
-3,317
167
19,569
FY12
FY13
FY14
FY15
FY16F
20,182
293
FY12
2,815
FY13
6,595
FY14
FY15
FY16F
* Note: sales of 2016 is estimated by YD Online
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Chapter 04
Appendix
01. Statement of income
Appendix
Statement of income
Category (unit: million won, %)
Ⅰ.Operating Revenue
FY12
FY13
FY14
FY15
FY16(Q1)
36,658
34,542
27,462
43,949
10,986
35,692
32,528
26,164
42,630
10,864
Mobile game
293
2,815
6,595
20,182
4,473
Online game
35,399
29,713
19,569
22,448
6,391
966
2,014
1,298
1,319
122
36,491
28,780
30,779
39,275
10,028
27,629
19,828
23,213
32,948
8,627
8,862
8,952
7,566
6,327
1,401
167
5,762
-3,317
4,674
958
0.5
16.7
-12.1
10.6
8.7
341
369
230
255
68
1,137
1,161
652
721
218
Ⅵ. Gains in investments in Associates
0
0
0
0
0
Ⅶ. Losses in investments in Associates
0
0
260
724
0
Ⅷ. Other Non-operating Revenues
1,529
31
788
117
1
Ⅸ. Other Non-operating Expenses
494
2,727
2,092
2,799
90
Ⅹ. Income and loss before income taxes
406
2,274
-5,303
802
719
2,661
1,129
722
635
0
-2,255
1,145
-6,025
167
719
-6.2
3.3
-21.9
0.4
6.5
(1) Game sales
(2) Other Revenues
Ⅱ. Operating Expenses
(1) Operating Expenses
(2) Other Operating Expenses
Ⅲ. Operating Income
Operating Income Ratio
Ⅳ. Financial Income
Ⅴ. Financial Costs
ⅩI. Income tax expense
XII. Net Income
Net Income Ratio
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31

Company Overview

Transcription

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Sept 30-Oct 2, 2016 Nov 4-6, 2016 @Camp Tadmor

4 star ALOE HOTEL, PAPHOS

the Guidelines for the registration on

Ticket plus hotel packages for the Chelsea Flower Show 2016