KYOTO: Nintendo Co. said Tuesday that its group net profit in fiscal 2023 grew 13.4 percent from the previous year to a record 490.6 billion yen, thanks to the yen’s weakening.

The record profit came despite a fall in sales of the company’s Nintendo Switch video game console and its software titles in volume terms.

In the year ended in March, the company’s sales rose 4.4 percent to 1,671.8 billion yen and its operating profit climbed 4.9 percent to 528.9 billion yen.

At an online press conference, Nintendo President Shuntaro Furukawa revealed that the company will make an announcement about the successor to the Switch game console during fiscal 2024, which began in April.

For the current business year, the company forecast a net profit of 300 billion yen, down 38.9 percent from fiscal 2023, on sales of 1.35 trillion yen, down 19.3 percent.

JIJI Press