Webzen Q1 2026: Despite lower consolidated OP, strong shareholder returns via treasury stock cancellation and dividends

Consolidated revenue: 393.7B KRW (vs 415.5B YoY, -5.2%), OP: 53.8B (vs 89.0B, -39.6%), net profit: 88.3B (vs 12.7B, +596%)
Standalone revenue: 401.3B, OP: 121.2B, net profit: 138.0B
Treasury stock cancellation: Board decision on 2026.02.11, completed 2026.05.04 (3,634,309 shares, capital decrease of 1.8B)
FY2025 dividend: 700 won per share (including tax-exempt special dividend of 570 won), total cash dividend approx. 20.3B
Treasury stock ratio: 15.99% (5,534,069 shares), debt ratio: 15.69% (FY2025 year-end: 12.31%)
New subsidiaries: Webzen M Co., Ltd. and Webzen Redgear Co., Ltd. (game development)
Equity method gain from ST 45th New Technology Investment Fund: 16.46B (this quarter)
Litigation risks: Red5 related allowance of 4.66B (fully reserved), ongoing R2M lawsuit
FX risk: USD net exposure of 17.58B; 10% change impacts pre-tax profit by 1.76B