Nexon subsidiary Nitro Studio files for bankruptcy after game fails

NEXON Co., Ltd. announced on October 21, 2025, that its consolidated subsidiary, Nitro Studio Co., Ltd., will file for bankruptcy under Korean law. Established on August 26, 2020, as a joint venture, Nitro Studio became a wholly-owned subsidiary of NEXON Korea Corporation in February 2024. Its self-developed game, launched in March 2023, failed to meet expectations, leading to service termination on October 16, 2025.

Nitro Studio's total liabilities are approximately KRW 105,859 million, with KRW 83,000 million owed to NEXON Korea. All business activities have ceased, and no further value creation or revenue generation is anticipated. NEXON Korea had previously recorded a full allowance for doubtful accounts for its loans receivable from Nitro Studio, ensuring no additional losses will impact NEXON Co., Ltd.'s consolidated financial results.