Nintendo Raises Net Profit Estimate by 30 B. Yen

Economy

Tokyo, Jan. 30 (Jiji Press)--Major Japanese game maker Nintendo Co. <7974> on Thursday revised up its consolidated net profit forecast for the business year through March by 30 billion yen.

The move reflects strong sales of its Nintendo Switch and Nintendo Switch Lite video game consoles, and of related game software with high profit margins.

The company now expects to report 210 billion yen in net profit for the year, up from the earlier estimated 180 billion yen. Its operating profit estimate was also raised to 300 billion yen from 260 billion yen.

The firm also raised its sales target for the Switch and Switch Lite machines to a combined total of 19.5 million units from 18 million units. The sales target for game software for the consoles was also raised, to 140 million units from 125 million units.

For April-December 2019, Nintendo reported consolidated sales of 1,022,668 million yen, up 2.5 pct from a year before, and a net profit of 196,389 million yen, up 16.4 pct. Operating profit came to 262,930 million yen, up 19.5 pct.

[Copyright The Jiji Press, Ltd.]

Jiji Press