Nintendo cuts sales forecast as Switch console ages without successor in sight [Fortune]
Mizuho Financial Group, Inc. Sponosred ADR (Japan) (MFG)
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mizuho-fg.com/investors/index.html
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Source: Fortune
Last year, the Japanese video game giant scored with the smash-hit “Super Mario Bros” film and the release of “Legend of Zelda: Tears of the Kingdom”, the fastest-selling game in nearly four decades of the Zelda franchise. But times are now tighter for the company, which has promised news on the successor to its popular but ageing Switch console by the end of March 2025. “Unit sales of both hardware and software were extremely high for the first half of the previous fiscal year,” Nintendo said , adding that the Mario movie had “energised our dedicated video game platform business”. “There were no such special factors in the first half of this fiscal year, and with Nintendo Switch now in its eighth year since launch, unit sales of both hardware and software decreased significantly,” it added. In the April-September period, Nintendo logged net profit of 108.7 billion yen ($710 million), down 60 percent from the same period a year earlier. The Kyoto-based company kept unchange
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MFG
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- 11/14/24 - Form 6-K
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- 11/14/24 - Form 6-K
- MFG's page on the SEC website