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.

Recommended:



Popular

Comcast's $31 Billion Bid for Sky Could Crush Rupert Murdoch's Dreams
Fox, which already has a 39 percent stake in Sky, first announced its 10.75 pound per share cash offer in December 2016. The offer also establishes Comcast's intent to maintain Sky's United Kingdom headquarters at its Osterly campus.

Thunder Battles Back To Beat Jazz 107-99 In Game 5
Oklahoma City Thunder guard Russell Westbrook, left, shoots as Utah Jazz guard Donovan Mitchell defends during the second hal. Utah Jazz center Rudy Gobert (27) grabs a rebound between Oklahoma City Thunder forward Paul George, left, and guard Russell.

Ford to discontinue all except two cars from the U.S. market
Ford said it has found another $11.5 billion in cost cuts and efficiencies, bringing the total to $25.5 billion expected by 2022. Shanks said the automaker is focused on building great new products to maximize revenue while reducing incremental cost.

Palestinian dies of wounds, bringing Gaza toll to 40
Israeli soldiers arrested two Palestinian men who crossed into Israel from Gaza armed with a grenade and a knife. The Royal Malaysia Police released photos of a suspect in the murder of Dr Fadi M R Albatsh.

Wenger says timing of his Arsenal departure not his decision
He also refused to answer rumours of former Barcelona boss Luis Enrique replacing him. I just want to do as well as I can", said Wenger.

Slate Belt musician who wrote 'Schoolhouse Rock' songs is dead at 94
DOROUGH served as the Music Director of a 40th anniversary DVD edition of the entire, five-subject series. He performed all the multiplication songs, and collaborated on the history, science, and grammar songs.

Palestinian lecturer's body 'to return to Gaza from Malaysia'
Hamas in an earlier statement said the Palestinian engineer was a "loyal" member and a "scientist of Palestine's youth scholars". Mossad is believed to have assassinated Palestinian militants and scientists in the past, but rarely confirms such operations.

Equity indices close higher, RIL top gainer
However, the gains were capped by selling pressure in metals, IT, teck, power, consumer durables and PSU stocks. On Tuesday, Sensex rallied 165.87 to settle at 34,616.64 and the Nifty ended 29.65 points higher at 10,614.35.

Dead Man's Finger Used By Florida Police To Unlock Smartphone
A Florida woman was upset when detectives showed up at the funeral home where her late fiance's body was resting. Militiamen gathered to unlock the gadget with a fingerprint of a dead African American.

Iranian general threatens to 'annihilate' Israel
Zarif "is a foreign minister of a country that sent armed drones into Israel and fired missiles at Saudi Arabia", Netanyahu said. Iranian officials have promised unspecified reprisals.