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  HOME | Business & Economy (Click here for more)

Nintendo Earns $453 Million in First 6 Months of Current Fiscal Year

TOKYO – Nintendo made a net profit of 51.5 billion yen ($453 million) during the first six months of the ongoing Japanese fiscal year, which represents a 34.5 percent year-on-year increase, according to figures released by the company on Monday.

The increase in profits of the video games company between the months of April-September 2017 has been attributed to the strong sales of its new console Switch and the games designed for the platform.

During the period, Nintendo made an operating profit of 39.961 billion yen, compared to 5.947 billion yen of losses during the same period in 2016.

The Kyoto-based company recorded net sales of 374.041 billion yen during the same period, which represents a year-on-year increase of 173.4 percent.

The company sold 4.89 million units of Switch – which combines characteristics of handheld and home consoles – during the period, taking the total number of units it has sold since its launch in March 2017 to 7.63 million.

The sales of games designed for Switch amounted to 22.02 million units, mainly due to successes of games like Splatoon 2, Mario Kart 8 Deluxe and ARMS.

Although 2.86 million units of the handheld Nintendo 3DS were sold, marking a 5 percent year-on-year increase, software sales for the platform were down 28 percent year-on-year to 13.82 million units.

The company’s income related to its new sector focusing on smartphones was 17.9 billion yen, representing a 426 percent increase on a year-on-year basis, due to strong sales of titles like Super Mario Run and Fire Emblem Heroes, which were launched in the previous financial year.

On the basis of these results, Nintendo made an upwards revision of the forecasts for the fiscal year ending March 31, 2018, predicting a net profit of 85 billion yen, nearly double the previous estimate.

It is also expecting its operating profit to reach 120 billion yen, double its previous estimate, and its net sales to reach 960 billion yen.

 

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