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Nintendo raises full-year sales, profit forecasts

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06 Feb 2024 09:02:18 GMT9
06 Feb 2024 09:02:18 GMT9

KYOTO: Nintendo Co. on Tuesday raised its sales and profit forecasts for the fiscal year ending in March, reflecting the yen’s weakening and strong sales of its mainstay Nintendo Switch video game console.

The company now expects its consolidated net profit to rise 1.7 pct from the previous fiscal year to 440 billion yen, up, from the previous estimate of 420 billion yen.

Sales are projected to grow 1.8 pct to 1,630 billion yen, up from 1,580 billion yen, and operating profit is forecast to expand 1.1 pct to 510 billion yen, up from 500 billion yen.

The sales estimate for the Nintendo Switch console was increased by 500,000 units to 15.5 million units.

Nintendo Switch sales are “solid for such a product in its seventh year since launch,” Nintendo President Shuntaro Furukawa said.

In April-December 2023, the company posted a record net profit of 408 billion yen, up 17.9 pct from a year earlier, thanks to brisk sales of the “Super Mario Bros. Wonder” game title released in October.

JIJI Press

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