Nintendo thus posted a net profit of 119 billion yen (878.6 million euros) in the April-June period, a 28% year-on-year jump due to the yen’s depreciation in the foreign exchange market, the group said in a statement. Its sales fell 4.7% year-over-year to ¥307.5 billion (€2.3 billion) in the same period. Nintendo said sales of its Switch console fell 22.9%, largely due to a global shortage of semiconductors and other components. . Its first-quarter operating profit fell 15% year-on-year to 101.6 billion yen (750.1 million euros).
Nintendo has stuck to its forecasts it made last May for the full 2022/23 financial year, justifying its caution by saying that “Manufacturing and logistics may be affected by factors such as disruptions to the supply of parts, including semiconductors, and the risks of Covid-19.“. So it still forecasts a net profit of ¥340 billion (€2.5 billion) for the full fiscal year, a drop of almost 29% year-on-year, and an operating profit of ¥500 billion, a 15.7% drop. compared to 2021/2022
Target 21 million switches sold
Nintendo still expects Switch sales to reach 21 million units in 2022/2023, after 23 million units in the previous financial year, and a record 28.8 million in 2020/2021, when most of the world was restricted. But “It’s going to be very difficult for Nintendo to hit this yearly goal“because”Switch shipments are down significantlysaid Hideki Yasuda of Toyo Securities, interviewed by AFP ahead of the results. Panels are “sold out in store, out of stockwhich will likely affect Nintendo’s sales, he added. Nintendo still forecasts revenue of ¥1,600 billion (€11.8 billion) in 2022/2023, a year-on-year decline of 5.6 percent.
Source: Le Figaro
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.