Nintendo Announces Financial Results For Fiscal Second Quarter Of 2023, Increases Expectations – News
This despite a Wii U-esque quarter on the release front.
Nintendo released their fiscal results for the second quarter of 2023-24 fiscal year today, and despite a low quarter in terms of output changes in the yen have caused their financial predictions for the year to go up.
All monetary figures quoted in yen, with a comparison based on current market rate of US$1 = ¥150.58 provided for clarification only.
Financial Indicators
Revenue: ¥334.896bn (~$2.224bn US), down 4.2% year over year
Operating Income: ¥94.649bn (~$628.562m), down 20.3% year over year
Ordinary Income: ¥126.241bn (~$838.4m), down 19% year over year
Digital Sales: ¥97.9bn (~$650m), down 1.9% year over year
Mobile/IP (film) Revenue: ¥23.2b (~$154m), up 184% year over year
Hardware Shipments
Total Switch shipments for the quarter totaled 2.93m units for a new LTD of 132.46m (21.56m to the DS, 26.24m to the PS2). The breakdown was 1.86m OLED (63.48%), 610k standard (20.81%), and 460k Lite (15.71%).
New Software Sales
Nintendo’s sole releases in the quarter were Pikmin 4, which shipped 2.61m units in roughly 10 weeks of the quarter, and a compilation re-release of Pikmin 1 and 2 which did not ship a million units in the quarter. For comparison, last year’s same quarter featured the launch of Splatoon 3 (7.9m unit opening quarter) and Xenoblade Chronicles 3 (1.7m).
Catalogue Sales
16 games have shipped over a million units since April, of which 12 are first party. For the Switch top 10, Mario Kart continues to add onto its lead with 1.55m units shipped (LTD 57.01m), Animal Crossing shipped 590k (43.38m), and Tears of the Kingdom shipped 990k in its first full quarter (19.5m).
The full top 10 can be found here, including the Mario movie halo effect boosting New Super Mario Bros. U Deluxe back into the top 10 ahead of Ring Fit Adventure.
Other Announcements
Nintendo has revised its financial forecasts upwards: net sales up 9%, operating profit 11%, and ordinary profit up 25%. This is due to the yen’s depreciation, as 78% of their sales so far this year have been international (outside Japan), and the assumed exchange rates have been raised to 140 yen against the greenback and 150 yen against the Euro.
