Nintendo Announces Final Financial Results For 2023-24 Fiscal Year And 2024-25 Projections – News

In which Nintendo calls their shot on passing the DS.

Nintendo has given the final earnings report of the Switch’s seventh full fiscal year earlier today, and after revising their forecasts upward for the year – twice – have given their expectations for the now-present fiscal year as well.

All figures are annual, with separate numbers for the 4th quarter broken out. A comparison to the US dollar at a rate of $1 US = ¥154.459 – the press time market rate – is also provided for information only.

Full Year Results

Revenue: ¥1,671.892b (~$12.841b), up 4.4% compared to 2022-23

Operating income: ¥528.941b (~$4.062b), up 4.9%

Ordinary income (including foreign exchange gains): ¥680.497b (~$5.227b), up 13.2%

Digital sales: ¥443.3b (~$3.404b), up 9.2%: more than half of software sold (50.2%) was digital for the first time ever

Mobile/IP/other revenue: ¥92.7b (~$711m), up 81% for the year (includes all of Nintendo’s cut of the Super Mario Bros. movie)

Fiscal Q4 (Jan – Mar) Results

Revenue: ¥277.096b (~$1.794b), down 9.6%

Operating income: ¥64.531b (~$417.8m), down 30.9%

Ordinary income: ¥113.14b (~$732.5m), down 4.6%

Digital sales: ¥96.9b (~$627.4m), up 1.7%

Mobile/IP/other revenue: ¥17.5b (~$113.2m), up 44.6%

Hardware Update

An additional 1.96m Switches across the three form factors were shipped in the 4th quarter for a new life-to-date for the platform of 141.32m. The shipments were 1.16m OLED, 460k standard, and 340k Lite in Q4.

For the year, this represents a total of 15.7m systems shipped, ahead of the company’s estimate of 15.5m revised in February. The new LTD means the Switch needs to ship 12.71m more systems to become the best selling dedicated hardware ever sold by Nintendo ahead of the DS, and 17.39m to become the best selling dedicated game console ever ahead of the PlayStation 2.

Software – 4th quarter

Nintendo had three releases in the January to March window: Princess Peach: Showtime, the remake of Mario vs Donkey Kong, and the Another Code: Recollection collection.

Another Code did not appear on the million sellers list for the year, but Showtime shipped 1.22m in just over two weeks and Mario vs Donkey Kong shipped 1.12m copies. For comparison, last year’s fiscal Q4 included three million sellers out of four and two titles (Fire Emblem: Engage, Kirby and the Forgotten Land) both shipped more than Peach.

Software – Catalogue

Mario Kart 8 Deluxe continues to lap the field in terms of game sales, adding another 1.39m to its total for a new LTD shipment count of 61.97m. Other highlights from the rest of the top 10 available here: It takes a minimum of 17.45m to break into the top 10 positions with New Super Mario Bros U Deluxe, Tears of the Kingdom’s first fiscal year ends at 20.66m copies, and Animal Crossing: New Horizons has crossed 45m copies sold.

For software released this year, Super Mario Bros. Wonder added another 1.48m copies to finish the year as the second highest shipper behind the frontloaded Tears of the Kingdom with 13.44m copies. 20 games sold over a million copies in the fiscal year shipped by Nintendo, and 31 overall.

Estimates for 2024-25

Revenue: ¥1,350b Operating profit: ¥400b Ordinary profit: ¥420b Hardware: 13.5m Switches Software: 155m units of Switch shipped

If this hardware estimate is met, the Switch will pass the DS in early 2025 or later this year, more likely the former.

Other News:

The only addition to Nintendo’s upcoming software slate was Pokemon Legends: Z-A, announced on February 27 and with a 2025 release window. Metroid Prime 4 remains “TBA”.

Nintendo officially confirmed the delay of their Kyoto museum – originally slated for March – to the fall.

The “Donkey Kong” expansion of Super Nintendo World in Japan will be sometime in the second half of 2024, with the Super Nintendo World in Orlando coming online next year.

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