Nintendo Yearly Profits Grow By 36 Percent To $1.27bn

27 April, 2018, 00:27 | Author: Carmen Reese
  • Nintendo dates E3 2018 briefing

The Switch itself was a pretty bold experiment, as are the company's just-launched Nintendo Labo building toys - with a younger leader at the helm, it's possible we'll see Nintendo become even more fearlessly creative. For the fiscal year through next March, Nintendo forecast profit of 225 billion yen (US$2.1 billion).

The Nintendo Switch console is another massive hit for the world's best known video game company, besting already high expectations and driving the company to a massive 500 percent profit increase.

Furukawa will be only the sixth Nintendo president in the company's history, which is quite remarkable considering the shuffling hierarchies of most big businesses.

What do you think Nintendo needs to do to sell 20 million consoles in 2018?

Kimishima, a former banker who succeeded charismatic leader Satoru Iwata in 2015, made a decision to step down as he has "fulfilled nearly fully his responsibilities" to turn around the company, he said at an earnings briefing.

Furukawa comes across as thoughtful, very knowledgeable and quite well informed. "He may be the flawless person to fill the communication gap that exists between Nintendo and investors".

More news: OnePlus 6 will officially be revealed on 17 May 2018

During the press conference in Osaka, Furukawa talked about bringing out Nintendo's full potential, and said he would balance Nintendo's traditions: originality and flexibility.

Iwata, originally, was expected to be the person to guide Nintendo into its new future.

The company also provided the specific sales numbers for its first-party games, with 9 games being detailed.

With the likes of Bayonetta 3, Super Smash Bros and other Nintendo titles on the way, year two of the Nintendo Switch seems to be robust for many a fan.

Sales for the console are up to 17.79 million as of March 31, according to the company's latest earnings report. Kimishima is being replaced by Shuntaro Furukawa.



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