Nintendo Releases 2024-25 Fiscal Earnings And Projections For First Year Of Switch 2 – News
This is gonna be weird to talk about in early August.
Nintendo released their fiscal results for the 2024-25 fiscal year at the close of business in Japan today, which will be the final results released before the launch of the Switch 2 in four weeks, and as might be expected it was a relatively slow quarter and year for the Switch’s 8th full fiscal year.
All figures quoted in yen (¥), for comparison the US$ figures are listed based on a rate of ¥x = $1.
Full Year Results
Revenue: ¥1,164.922bn (approximately $8.947bn), down 30.3% to 2023-24
Operating income: ¥282.533bn (~$2.170bn), down 46.6%
Ordinary income (including foreign exchange gains): ¥372.316bn (~$2.86bn), down 45.3%
Digital sales: ¥326bn (~$2.503bn), down 26.5%
Mobile/IP/other revenue: ¥67.6bn (~$518m), down 27%
4th Quarter Results
Revenue: ¥208.704bn (~$1.44bn), down 24.68% to fiscal Q4 in 2024
Operating income: ¥34.935bn (~$241m), down 45.86%
Ordinary income (including foreign exchange gains): ¥45.199bn (~$312m), down 60.05%
Digital sales: ¥80.2bn (~$668.6m), down 17.23%
Mobile/IP/other revenue: ¥17.9bn (~$123.5m), up 2.29%
Hardware Shipments
1.26m Switch 1 systems were shipped in the fourth quarter, bringing the Switch to a new lifetime total of 152.12m systems – 1.9m away from passing the DS and 7.98m from the best available number for the PlayStation 2 in terms of “best selling dedicated game hardware of all time”. The breakdown was 800k OLED, 260k standard, and 200k Lite models.
New Software Results
Of the quarter’s two releases, Donkey Kong Country Returns HD shipped 1.27m copies in two and a half months of sale while Xenoblade Chronicles X: Definitive Edition (March 20) was not included in the million sellers list.
Catalogue Software Results
Mario Kart 8 Deluxe has grown its lead again as the best selling Switch game, shipping 850k copies in the quarter for a new life to date total of 68.2m. Pokémon Scarlet and Violet (410k copies in Q4) has also jumped ahead of Sword and Shield by 70,000 copies to become the second best selling Pokémon set ever, and the best selling set that only has two games in it. The full top 10 can be found here. Notably, Super Mario Odyssey (LTD 29.28m copies, +240k) may join the 30m shipment club on Switch sometime in the 2025-26 fiscal year, which would give the Switch five games to exceed that number, the most on one system ever.
For the year, software sales were 15.541m overall from Nintendo. Super Mario Party Jamboree (7.48m copies) was the best selling first party game of the year.
2025-26 Projections
Revenue: ¥1.9tn
Operating income: ¥320bn
Ordinary income (including foreign exchange gains): ¥380bn
Hardware shipments: 15m Switch 2 systems, 4.5m Switch 1 systems
Software shipments: 45m Switch 2 games, 105m Switch 1 games
Other News
Nintendo is assuming for projections that US government tariffs introduced last month will be in place for the entire fiscal year and will adjust their projections if circumstances change.
