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  HOME | Business & Economy (Click here for more)

Nintendo Profits Up 33.3% in 2019, Exceeds Switch Console Goals

TOKYO – The Japanese video game company Nintendo increased its net profit by 33.3% in 2019 to 258.6 billion yen ($2.5 billion), thanks to the good performance of its Switch console, whose sales targets were exceeded.

The company based in Kyoto recorded an operating profit of 352.37 billion yen in its most recent fiscal year, which ended on March 31, an increase of 41.1%, according to its financial report. published this Thursday.

Nintendo’s sales turnover increased by 9%, to 1.31 trillion yen, with figures for the marketing of Switch consoles (21 million in the year) and games for the platform “That exceeded the good results of last year.”

In September, Nintendo released Switch Lite, a more compact and fully portable version of the console, whose improved hybrid model and original worked “very well without losing momentum, resulting in significant sales growth for the entire Switch family,” the company said in its report.

During the 2019 fiscal year, the company commercialized great sales hits such as “Pokémon Sword” and “Pokémon Shield” which through the end of March had sold 17.37 million units, or the best-selling “Animal Crossing: New Horizons,” which In just 11 days (after its March 20 launch) sold 11.8 million copies, making it the best release yet for Switch.

In addition to “Luigi’s Mansion 3” and “Super Mario Maker 2,” released during the fiscal year, “sales also continued to grow steadily for titles marketed in previous years,” and the number of titles for Switch that reached 1 million copies sold reached 27, the developer and distributor added.

The company also highlighted the expected debut of the console in China by the local multinational Tencent Holdings.

Although the production and shipping of Switch consoles, accessories such as Joy-Con controllers or the “Ring Fit Adventure” were affected in certain areas by the COVID-19 pandemic, “this had only a limited impact on the results of the exercise” he pointed.

Nintendo sold 21 million consoles to the Switch family in the recently concluded fiscal year, 24% more year-on-year and above its goal of 19 million. The cumulative sales of the console stood until March 31, 2020 at 55.8 million.

Regarding games for Switch, sales increased 42.3% over the previous year to 168.7 million copies (above its annual goal of 140 million).

The company also highlighted the 71.8% year-on-year increase to 204.1 billion yen in the digital branch of the company, thanks to its online services and digital games.

For the current fiscal year 2020, Nintendo highlighted potential risks linked to the coronavirus pandemic, such as a shortage of components necessary for production, limitations in commercial activities or the impact on development areas, which could also have consequences in external developers.

The company only anticipated the release in May of “Xenoblade Definitive Edition,” in June of “Clubhouse Games: 51 Worldwide Classics” and later the two expansions for “Pokémon Sword / Shield.” “Other publishers also plan to release a wide variety of attractive titles,” it without specifying.

The uncertain outlook led Nintendo to make pessimistic forecasts for 2020. The company estimates its net profit to contract 22.7% to 200,000 million yen and that its operating profit will fall 14.9% up to 300,000 million yen.

Nintendo expects sales to decrease 8.3% year-on-year to 1.2 million yen.

 

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