Nintendo predicts 41% surge in profits
Print Edition
NINTENDO raised its annual net profit forecast by over 40 percent yesterday after its popular Switch console flew off the shelves during the holiday season, fueled by a cheaper yen.
The Kyoto-based video game giant said it now expects annual net profit of 120 billion yen (US$1.1 billion), a 41.2-percent rise from a forecast last October when it nearly doubled its previous net profit projection.
Nintendo now expects to sell 15 million Switch units by March, up one million from the previous forecast — which was already an upgrade from an earlier projection of as many as 10 million units.
“For the nine months ended December 31, 2017, the Nintendo Switch hardware sold well following the launch and sales volume rose substantially during the holiday season,” the company said in a brief statement.
Nintendo now expects annual sales of 1.02 trillion yen and an operating profit of 160 billion yen, again marking sizable increases from earlier estimates.
Analysts were quick to praise the firm, which gave the world Super Mario and Pokemon.
“Switch is in excellent shape. Its demand remained strong during the Christmas season,” said Hideki Yasuda, an analyst at Ace Research Institute in Tokyo, before the latest figures were announced.
“Nintendo has been back in full force,” he said.
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