Nintendo Financial Results Explanatory Material: 2nd Quarter of Fiscal Year Ending March 2024

Nintendo’s financial results for the first half of the fiscal year ending March 2024 demonstrate significant growth across its core business segments. Net sales reached 796.2 billion yen, a 21.2% increase compared to the same period in the previous fiscal year. Operating profit rose by 27.0% to 279.9 billion yen, while net profit attributable to owners of the parent grew by 17.7% to 271.2 billion yen. These results represent the highest first-half sales figures since the launch of the Nintendo Switch, driven by strong hardware and software performance, a substantial increase in mobile and IP-related income, and the favorable impact of a depreciating yen.

The dedicated video game platform business remains the primary revenue driver, contributing 736.7 billion yen in sales. Hardware unit sales for the Nintendo Switch family reached 6.84 million units, with the OLED model accounting for the largest share of volume. Software sales also saw growth, totaling 97.08 million units, bolstered by the successful release of major titles such as The Legend of Zelda: Tears of the Kingdom and Pikmin 4. Additionally, mobile and IP-related income surged by 133.3% to 55.0 billion yen, largely attributed to revenue from The Super Mario Bros. Movie and increased royalty income.

Reflecting these strong performance metrics and updated exchange rate assumptions, the company has revised its full-year financial forecast upward. The updated outlook projects net sales of 1,580.0 billion yen and an operating profit of 500.0 billion yen. The company also increased its annual software sales forecast to 185.00 million units. These projections account for ongoing market conditions and the continued momentum of the Nintendo Switch platform, which continues to maintain a robust library of million-seller titles from both Nintendo and third-party publishers.