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 31, 2020. The meeting addressed the approval of consolidated and separate financial statements for the fiscal years ended December 31, 2019, and 2018, prepared under Korean IFRS.
Key Financial Metrics
The filing text does not provide specific numerical values for revenue, profit, cash flow, margins, debt, or liquidity. It confirms that shareholders approved the financial statements for 2019 and 2018, but the detailed figures are contained in the attached exhibits (Exhibit 99.1 and 99.2) rather than the body of this report.
Material Changes and Governance Actions
- Financial Approval: Shareholders approved the 2019 and 2018 consolidated and separate financial statements.
- Board Composition: Seven directors were reappointed (Hyun Chul Park, Yoshinori Kitamura, Kazuki Morishita, Kazuya Sakai, Doo Hyun Ryu, Jung Yoo, and Yong Seon Kwon). One new independent director, Kee Woong Park, was appointed.
- Executive Appointments: Hyun Chul Park was reappointed as CEO, and Yoshinori Kitamura was reappointed as Chairman of the Board.
- Compensation: The maximum compensation for directors as a group for fiscal year 2020 was set at KRW 1,400,000,000.
- Corporate Governance: Shareholders approved an amendment to the Articles of Incorporation.
Outlook, Risks, and Contingencies
The filing does not contain specific management commentary on future outlook, risks, or contingencies. It notes that the full 2019/2018 Korean IFRS financial statements are expected to be filed with the Financial Supervisory Service of Korea by April 14, 2020, with a condensed English translation to be submitted to the SEC simultaneously.
Investor Verification Checklist
- Review Exhibit 99.1 and 99.2 for the actual 2019 financial performance metrics (revenue, net income, cash flow).
- Verify the specific details of the amendment to the Articles of Incorporation approved at the AGM.
- Confirm the filing of the full Korean IFRS financial statements with the Financial Supervisory Service by the April 14, 2020 deadline.
- Monitor the subsequent Form 6-K submission for the condensed English translation of the 2019 financial results.