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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
SHIFT UP
SHIFT UP (462870) investor relations material
SHIFT UP Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary14 Aug, 2026
Executive summary
H1 2026 revenue was ₩103.0bn and operating income ₩49.6bn, both below H1 2025; net income rose to ₩79.5bn from ₩78.2bn, supported by higher finance income.
Revenue remained concentrated in Goddess of Victory: NIKKE and Stellar Blade, while the portfolio expanded through the Unbound acquisition and development of new IP.
Financial highlights
H1 revenue was ₩103.0bn vs ₩154.6bn YoY; operating income was ₩49.6bn vs ₩94.5bn.
H1 net income was ₩79.5bn vs ₩78.2bn YoY; pretax income was ₩100.1bn vs ₩94.2bn.
Finance income reached ₩51.4bn vs ₩17.0bn YoY, including ₩22.8bn gains on disposals and ₩13.4bn valuation gains on fair-value financial assets.
Cash and equivalents were ₩226.6bn at June 30, 2026, vs ₩110.1bn at Dec. 31, 2025; total assets were ₩1,110.4bn.
Operating cash flow was ₩46.0bn vs ₩64.7bn in H1 2025; investing cash flow was positive ₩90.6bn vs negative ₩176.5bn.
Outlook and guidance
NIKKE continues 2–3-week content updates and live-service events, with a stated focus on sustaining its lifecycle and user engagement.
Stellar Blade: Blood Rain was unveiled with an in-game trailer in June 2026; development aims to expand the world and build the franchise.
Project Spirit is in development as a cross-platform mobile, PC and console title intended to strengthen the IP portfolio and support long-term growth.
Unbound is developing multiple new PC/console IPs, including high-end titles, with plans for direct publishing.
R&D plans include exploring AI-assisted development workflows, including image and voice-generation technologies, with proof-of-concept work planned.
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Latest events from SHIFT UP
- NIKKE and Stellar Blade drove KRW230.1bn in 9M revenue as profit advanced.462870
Q3 2025 - Record FY2024 results on NIKKE strength and Stellar Blade’s launch, with expansion ahead.462870Q4 2024
- Record FY2025 results were powered by NIKKE and Stellar Blade, with new IPs in development.462870Q4 2025
- Nikke and Stellar Blade drove ₩160.6bn in 9M revenue as new market expansions took shape.462870Q3 2024
- Q1 earnings grew as Nikke led revenue; China expansion and a ₩50bn buyback are planned.462870Q1 2025
- ₩37.80bn net income as two game IPs drive revenue and new titles advance.462870Q1 2026
- Two flagship games drove H1 growth as new platforms and markets expanded reach.462870Q2 2025
Next SHIFT UP earnings date
Q3 202611 Nov, 2026
SHIFT UP
Next SHIFT UP earnings date
Q3 202611 Nov, 2026
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