Com2uS, New Game Release Delayed but Excitement Remains

KB Securities Report

[Asia Economy Reporter Gong Byung-sun] Attention is focused on whether Com2uS's highly anticipated new releases this year will succeed at the box office. The release schedule for the biggest anticipated title in the first half of the year, "Summoners War: Hundred Years' War," has been pushed back from February to April, but expectations remain high as the number of pre-registrations surpassed 2 million within 12 days of the start of pre-registration.

On the 12th, KB Securities raised the target price for Com2uS from 180,000 won to 185,000 won, considering the box office expectations for the new releases scheduled for this year. The investment opinion was maintained as "Buy."

Com2uS plans to release its most anticipated title, "Summoners War: Hundred Years' War," on April 29 this year. During the closed beta test (CBT) period in November last year, Hundred Years' War showed high activity mainly in North America and Europe. When pre-registration began on the 28th of last month, 2 million people signed up within 12 days. From the end of February, a large-scale promotion including teaser video releases and viral marketing is planned.

The contribution to revenue from new games has alleviated negative investor sentiment caused by the delay in the release date of Hundred Years' War. Originally, Hundred Years' War was scheduled for release in February, but at the conference call held on the 9th, the release date was postponed to April 29. Com2uS had already planned to release Hundred Years' War last year but postponed it once. However, the mobile golf game "Buddy Crush," released on the 4th, is currently recording daily sales of about 10 million won.

Lee Dong-ryun, an analyst at KB Securities, explained, "More than 10 additional casual new games are scheduled to be released within the year," adding, "Unlike in the past, by releasing many casual games based on an advertising business model, they will increase revenue stability."