Business Context and Reporting Period
This Form 6-K filing by GRAVITY Co., Ltd. reports the results of the Annual General Meeting of Shareholders (AGM) held on March 29, 2019. The meeting addressed corporate governance matters and the approval of financial statements for the fiscal years ended December 31, 2018, and December 31, 2017.
Key Financial Metrics
The filing text does not provide specific values for revenue, profit, cash flow, margins, debt, or liquidity. It confirms that the separate and consolidated financial statements for 2018 and 2017 were approved by shareholders. Detailed financial data is contained in the attached exhibits (Exhibit 99.1 and 99.2) and the full Korean IFRS statements, which are not included in the body of this text.
Material Changes and Corporate Actions
- Financial Statement Approval: Shareholders approved the 2018 and 2017 financial statements prepared under Korean IFRS and audited under Korean Standards on Auditing.
- Board Composition: Shareholders approved the appointment of seven directors: four inside directors (Hyun Chul Park, Yoshinori Kitamura, Kazuki Morishita, Kazuya Sakai) and three independent directors (Doo Hyun Ryu, Jung Yoo, Yong Seon Kwon).
- Director Compensation: The maximum compensation payable to directors as a group for fiscal year 2019 was set at KRW 1,400,000,000.
Guidance, Outlook, and Filing Schedule
The Company expects to file its separate and consolidated financial statements (in Korean) with the Financial Supervisory Service of Korea no later than April 12, 2019. A condensed English translation of these statements is expected to be submitted to the SEC on Form 6-K simultaneously. The 2018 Annual Business Report was presented to shareholders during the AGM.
Investor Verification Checklist
- Review Exhibit 99.1 (Separate Financial Results) and Exhibit 99.2 (Consolidated Financial Results) for specific 2018 revenue and profit figures.
- Verify the full text of the 2018 Annual Business Report (Exhibit 99.3) for management commentary and strategic outlook.
- Confirm the filing of the English translation of the 2018/2017 Korean IFRS financial statements with the SEC by April 12, 2019.
- Monitor the composition of the newly appointed board of directors for potential shifts in corporate strategy.