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Tokyo (AFP) – Nintendo on Tuesday reported a solid net profit for the monetary 12 months to March on the sturdy efficiency of its blockbuster Switch console, but issued a cautious forecast.
Uncertainties linked to the worldwide chip scarcity and potential manufacturing and transport delays brought on by Covid-19 lockdowns may hit future earnings, the Japanese gaming large warned.
The firm, which has benefited from a string of in style titles together with “Pokemon Legends: Arceus”, posted a 2021-22 net profit of 477.7 billion yen ($3.7 billion), down simply 0.6 p.c on-year.
But it expects net profit for the present monetary 12 months of 340 billion yen, a yearly drop of round 29 p.c.
Nintendo’s earnings had been despatched hovering by a increase in demand for video video games through the pandemic and the runaway reputation of the Switch, which was launched in March 2017.
It additionally launched the Switch Lite in 2019 and the Switch OLED, with upgraded graphics and reminiscence, in October 2021.
Growth in gross sales of those consoles “demonstrated a good balance between each of the three individual models”, Nintendo mentioned.
“As a result of stable performance among the overall hardware lineup, final sales totaled 23.06 million units” within the final monetary 12 months, it added.
Nintendo mentioned software program gross sales additionally grew 1.8 p.c on-year to 235 million models, “making it the highest annual software sales figure ever posted for a Nintendo platform to date”.
Highlights included “Mario Party Superstars” and its three Pokemon titles. The hottest was “Pokemon Legends: Arceus”, which offered 12.6 million models within the final monetary 12 months, it mentioned.
Supply chain woes
Hideki Yasuda, senior analyst at Toyo Securities, advised AFP Nintendo is “doing very well”, calling the weaker yen and the sturdy efficiency of Arceus a “double benefit”.
But he warned that the corporate could discover itself “unable to make hardware and unable to move products” as cargo ships wait in waters off Shanghai, which is underneath lockdown as China tries to stamp out Covid-19.
Nintendo mentioned that “if Covid-19 interferes with production or transportation in the future, this might impact the supply of products”, warning that manufacturing may additionally be affected by the chip scarcity.
Serkan Toto, an analyst at Kantan Games in Tokyo, mentioned the Switch has been key to Nintendo’s success.
“For the first time in over 30 years, Nintendo is only focusing on one system,” as an alternative of dividing its sources between completely different companies corresponding to TV consoles and handheld gaming units, he mentioned.
© 2022 AFP
Nintendo annual net profit solid but outlook cautious & More Latest News Update
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