UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUERPURSUANT TO RULE 13a-16 OR
15d-16UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of February 2021
Commission File Number 000-51138
GRAVITY CO., LTD.
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(Translation of registrant’s name into English)
15F, 396 World Cup buk-ro, Mapo-gu, Seoul 121-795, Korea
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(Address of principal executive office)
Indicate by check mark whether the registrant files or will file
annual reports under cover of Form 20-F or Form
40-F. Form 20-F ☑ Form
40-F ☐
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule
101(b)(1): ☐
Indicate by check mark if the registrant is submitting the Form 6-K
in paper as permitted by Regulation S-T Rule
101(b)(7): ☐
GRAVITY
REPORTS PRELIMINARY UNAUDITED 4Q 2020 RESULT AND BUSINESS
UPDATES
Seoul, South Korea – February 16, 2021– GRAVITY Co., Ltd.
(NasdaqGM: GRVY) (“Gravity” or “Company”), a developer and
publisher of online and mobile games based in South Korea, today
announced its selected preliminary unaudited financial result for
the fourth quarter ended December 31, 2020 and business
updates.
PRELIMINARY UNAUDITED
FOURTH QUARTER 2020 FINANICIAL RESULT
Revenue and operating
profit
Tentative consolidated revenue for the fourth quarter of 2020 is
KRW 112 billion and operating profit is KRW 27 billion. The
preliminary fourth quarter result is mainly attributed by decreased
revenues from Ragnarok
Origin in Korea, Ragnarok
Online in Thailand and Ragnarok M: Eternal Love representing a
14.7% decrease QoQ. This decrease is partially offset by increased
revenues from Ragnarok X: Next
Generation launched in Taiwan, Hong Kong and Macau on
October 15, 2020.
Unaudited preliminary consolidated revenue for 2020 is KRW 406
billion and operating profit is KRW 88 billion.
The preliminary 2020 figures are unaudited and subject to revision.
Final result for the fourth quarter and year ended December 31,
2020, will be provided by our annual report for the fiscal year
ended December 31, 2020 on Form 20-F.
Liquidity
The balance of cash and cash equivalents and short-term financial
instruments was KRW 182 billion as of December 31, 2020.
GRAVITY
BUSINESS UPDATE
Ragnarok Online IP-based Games
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Ragnarok Origin, a
MMORPG mobile game
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Ragnarok Origin is being prepared
for launch in Japan in 1st half of 2021.
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Ragnarok X: Next
Generation, a MMORPG mobile game
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Ragnarok X: Next Generation is
being prepared for launch in Southeast Asia in 1st half of
2021.
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The
Labyrinth of Ragnarok, a Time Effective MMO mobile game
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The Labyrinth of Ragnarok was
launched in Thailand and Indonesia on December 1, 2020 and is
expected to be launched in global including Korea (except Taiwan,
Hong Kong, Macau, China and Japan) on March 23, 2021.
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Other
Ragnarok Online IP-based games
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The Lost Memories: a Song of Valkyrie, a Story RPG mobile game, is expected to be
launched in Thailand in 2nd half of 2021. The game was developed by
Gravity NeoCyon, Inc., our subsidiary in Korea.
Battle Academy, a Battle Royal RPG
mobile game, is being prepared to be launched in Thailand in the
1st half of 2021.
Other IP games
Tera Classic, a MMORPG mobile
game, was launched in Japan on January 29, 2021. The game is
published by Gravity Game Arise Co., Ltd (“Gravity Game Arise”), a
subsidiary in Japan.
The Lord, a SRPG mobile game, will
be launched in Southeast Asia (except Indonesia and Vietnam) on
February 23, 2021, and is expected to be launched in Indonesia and
Vietnam in 1st half of 2021.
CPBL Pro-baseball 2021 (Tentative title), a Sports mobile game, is expected to be
launched in Taiwan, Hong Kong and Macau in 1st half of
2021.
NBA Project
Gravity
has completed the Product License Agreement with the National
Basketball Association (NBA) and National Basketball Players
Association (NBPA) to develop a NBA licensed mobile game. The game
will be published by Gravity Game Arise in Japan, and Gravity will
expand its service to other markets in the contract regions in
order. Both mobile
platforms, iOS and Android, will be available for the
game.
Our New Subsidiary
Gravity established Gravity Game Hub PTE., Ltd (“Gravity Game
Hub”), a subsidiary in Singapore, on January 4, 2021. Gravity will
expand various game services including Ragnarok Online IP based games
throughout Gravity Game Hub in Singapore, Philippines and
Malaysia.
Investor Presentation
Gravity issued an investor presentation. The presentation contains
the Company’s recent business updates, preliminary results of the
fourth quarter in 2020 and Gravity’s business plan. The
presentation can be found on the Company’s website under the IR
Archives section at http://www.gravity.co.kr/en/ir/pds/list.asp.
Korean and Japanese versions of the presentation are also provided
on the website.
About
GRAVITY Co., Ltd. ---------------------------------------------------
Gravity is a developer and publisher of online and mobile games.
Gravity's principal product, Ragnarok Online, is a popular online
game in many markets, including Japan and Taiwan, and is currently
commercially offered in 93 markets and countries. For more
information about Gravity, please visit http://www.gravity.co.kr.
Forward-Looking Statements:
Certain statements in this press release may include, in addition
to historical information, “forward-looking statements” within the
meaning of the “safe-harbor” provisions of the U.S. Private
Securities Litigation Reform Act 1995. Forward-looking statements
can generally be identified by the use of forward-looking
terminology, such as “may,” “will,” “expect,” “intend,” “estimate,”
“anticipate,” “believe”, “project,” or “continue” or the negative
thereof or other similar words, although not all forward-looking
statements contain these words. Investors should consider the
information contained in our submissions and filings with the
United States Securities and Exchange Commission (the “SEC”),
including our annual report for the fiscal year ended December 31,
2020 on Form 20-F, together with such other documents that we may
submit to or file with the SEC from time to time, on Form 6-K. The
forward-looking statements speak only as of this press release and
we assume no duty to update them to reflect new, changing or
unanticipated events or circumstances.
Contact:
Mr. Heung Gon Kim
Chief Financial Officer
Gravity Co., Ltd.
Email: kheung@gravity.co.kr
Ms. Jin Lee
Ms. Hye Ji An
IR Unit
Gravity Co., Ltd.
Email: ir@gravity.co.kr
Telephone: +82-2-2132-7800
# # #
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned, thereunto duly authorized.
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GRAVITY CO., LTD.
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By:
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/s/ Heung Gon Kim
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Name:
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Heung Gon Kim
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Title:
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Chief Financial Officer
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Date: February 16, 2021