Business Context and Reporting Period
This Form 6-K filing by GRAVITY Co., Ltd. serves as a public notice for the Annual General Meeting of Shareholders (AGM) scheduled for March 27, 2026. The filing summarizes the company's financial performance for the fiscal year ended December 31, 2025, and proposes the reappointment of directors and the approval of the 2026 director compensation ceiling.
Key Financial Metrics (Fiscal Year 2025)
Financial data is presented in millions of Korean Won (KRW). The consolidated figures reflect the company's overall performance, while non-consolidated figures reflect the parent company.
| Metric | 2024 (Consolidated) | 2025 (Consolidated) | 2024 (Non-Consolidated) | 2025 (Non-Consolidated) |
|---|---|---|---|---|
| Total Assets | 686,459 | 742,662 | 462,097 | 539,639 |
| Revenues | 500,845 | 560,547 | 179,303 | 186,121 |
| Operating Income | 86,189 | 79,030 | 44,190 | 43,022 |
| Net Income | 84,902 | 67,309 | 87,892 | 82,821 |
| Total Liabilities | 118,096 | 105,295 | 43,443 | 38,165 |
| Shareholders' Equity | 568,363 | 637,367 | 418,654 | 501,474 |
Note: The filing states that these financial statements are not completely audited and are subject to the availability of the independent auditor's opinion to be disclosed later.
Material Changes vs. Prior Period
- Revenue Growth: Consolidated revenues increased by approximately 11.9% from 500.8 billion KRW in 2024 to 560.5 billion KRW in 2025.
- Profitability Decline: Despite revenue growth, consolidated operating income decreased by 8.3% (from 86.2 billion to 79.0 billion KRW), and consolidated net income dropped significantly by 20.7% (from 84.9 billion to 67.3 billion KRW).
- Balance Sheet Strength: Total assets grew by 8.2%, while total liabilities decreased by 10.8%, resulting in a substantial increase in shareholders' equity of 12.1%.
- Non-Consolidated Performance: The parent company saw a modest revenue increase of 3.8% but a decline in net income of 5.8%.
Guidance, Outlook, and Corporate Governance
Management Commentary and Risks: The filing does not provide specific forward-looking guidance, risk factors, or management commentary regarding the causes of the net income decline. It explicitly notes that the financial statements are unaudited at this stage.
Corporate Governance Changes:
- Director Appointments: The AGM agenda includes the reappointment of 10 directors and the appointment of 1 new director (Yeong Ah Park).
- Key Personnel Shifts: The filing highlights significant leadership changes at GungHo Online Entertainment, Inc. (a related entity), where Kazuki Morishita and Kazuya Sakai assumed new roles as Chairman/CEO and President/CEO respectively in February 2026.
- Compensation: The proposed total remuneration limit for directors for 2026 is maintained at 4 billion KRW.
Investor Verification Checklist
- Audit Status: Verify the final audited financial statements and the independent auditor's opinion once disclosed, as the current figures are unaudited.
- Profitability Drivers: Investigate the specific reasons for the 20.7% drop in consolidated net income despite an 11.9% increase in revenue.
- Related Party Transactions: Review the impact of the leadership changes at GungHo Online Entertainment on Gravity's future operations and revenue streams.
- AGM Resolutions: Confirm the final voting results for the appointment of directors and the approval of the 2025 financial statements at the March 27, 2026 meeting.