Consolidated Financial Highlights: Six Months Ended September 30, 2023

Key insights

6 takeaways

01
Nintendo achieved strong financial growth for the six months ending September 30, 2023, with net sales rising 21.2% to 796.2 billion yen and operating profit increasing 27.0% to 279.9 billion yen.See it on page 1
02
Revenue from mobile and IP-related sources surged 133.3% year-on-year, driven significantly by the commercial success of The Super Mario Bros. Movie.See it on page 3
03
Digital sales grew 15.8% to 217.5 billion yen, fueled by consistent demand for downloadable software, add-on content, and subscription services.See it on page 8
04
The Nintendo Switch hardware business remained stable, with unit sales increasing 2.4% to 6.84 million units during the period.See it on page 3
05
International markets remain the primary revenue driver for the company, accounting for 78.3% of total net sales.See it on page 8
06
The company maintains a strong financial position with total assets of 3.17 trillion yen and a capital adequacy ratio of 77.8% as of September 30, 2023.See it on page 4

Summary

Nintendo’s consolidated financial results for the six months ending September 30, 2023, demonstrate robust growth driven by strong software performance and the successful expansion of intellectual property into film. Net sales reached 796.2 billion yen, a 21.2% increase compared to the same period in the previous year, while operating profit rose 27.0% to 279.9 billion yen. This performance was bolstered by the release of major titles such as The Legend of Zelda: Tears of the Kingdom and Pikmin 4, alongside the positive commercial impact of The Super Mario Bros. Movie, which significantly contributed to a 133.3% year-on-year increase in mobile and IP-related revenue.

The company’s core hardware business maintained stability, with Nintendo Switch unit sales growing 2.4% to 6.84 million units. Digital sales for the platform also saw a notable rise of 15.8%, totaling 217.5 billion yen, supported by strong demand for downloadable software, add-on content, and subscription services. Geographically, the company remains heavily reliant on international markets, which accounted for 78.3% of total net sales. As of September 30, 2023, the company reported total assets of 3.17 trillion yen and a strong capital adequacy ratio of 77.8%.

Looking ahead, the company has revised its full-year financial forecast for the fiscal year ending March 31, 2024. Management intends to sustain momentum through the release of new titles, including Super Mario Bros. Wonder and various add-on content, while continuing to promote the Nintendo Switch platform to encourage multiple-unit ownership per household. These projections remain subject to market variables, including foreign exchange fluctuations and broader economic conditions.