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The Silicon Review Asia

Nintendo lifts profit guidance on weaker yen

Nintendo lifts profit guidance on weaker yen

Nintendo’s latest game “Splatoon”, where players engage in a turf battle sold more than 3.45 million units in Japan

The Japanese videogame company Nintendo Co Ltd has raised its annual profit forecast by 18%. This is due to a softer Yen which has offset the slow console sales. The company earns about 80% of its revenues overseas; Nintendo expects its net profit to come to 400 billion yen for the year to March 2023. This is a significant increase from the previous forecast of 340 billion Yen. The new projection still falls short of the consensus forecast of a 463 billion yen profit, based on a Refinitiv poll of 21 analysts. Nintendo is the creator of blockbuster titles as “Legend of Zelda” and "Super Mario Bros" cut its Switch console sales forecast for the business year to 19 million units from 21 million.

The company sold around 6.68 units of its Switch Console in the six months to September 30, down from 8.28 million a year. This is the sixth year of the console on the market. Nintendo’s latest game “Splatoon”, where players engage in a turf battle sold more than 3.45 million units in Japan within three days of its launch in Sept. 9. This was the highest –ever domestic launch sales.

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