Nintendo releases financial results for the first quarter of fiscal year 2022 – News

Considering gas is $7.30 a gallon if the news editor had a car, is it any wonder North America is down?

Publicly traded Nintendo released its official financial results for the April-June quarter (the first quarter of the company’s fiscal year) a few hours ago, with recession fears prompting another company to report below the same period last year.

All financial indicators reported in yen, only a rate of 133.103 yen to 1 US$ is used for comparison.

Financial indicators

Operating income: ¥101.647 billion (~US$763.671 billion), down 15.1% year-over-year

Ordinary income: ¥166.723 billion (~US$1.253 billion), up 29.6%; this is due to currency differences (weak Japanese yen)

Revenue: ¥307.46 billion (~US$2.31 billion), down 4.7%

Digital sales: ¥88 billion (~US$661.1 million), up 16%

Mobile revenue: 10.9 billion yen (~US$81.9 million), down 10.8%, notably the planned shutdown of Dragalia Lost was announced nine days before the quarter began

Hardware shipments

3.43m switches – 1.52m OLED, 1.32 standard, 590,000 Lites – shipped in the third quarter, for a total of 111.07m LTD units (7.61m units required to pass the Game Boy / Game Boy Color). European shipments rose compared to the same quarter last year, although this was offset by sharp declines in North America and Japan.

Software Highlights

Four titles shipped over one million units during the quarter, with Nintendo Switch Sports (April 29) posting an impressive 4.84 million shipments in April, mostly a $40 or equivalent game. Mario Strikers: Battle League (June 10) shipped 1.91 million units. Fire Emblem Warriors: Three Hopes (June 24) failed to reach the million units shipped mark as Nintendo’s other software, although they would only report sales outside of Japan (since the game is published by Koei Tecmo in Japan).

For earlier releases, Kirby and the Forgotten Land shipped another 1.88 million units in the quarter (new LTD 4.53 million, the highest shipments since the original shipped 5.13 million copies in the Game Boy) and Mario Kart 8 Deluxe took other shipments of 1.49 million (new LTD 46.82m). The full Switch top 10 can be found here herewith Animal Crossing: New Horizons looking to join the 40m unit club before the end of the year.

Other News

Nintendo reported no changes to the upcoming release schedule, with the Advance Wars 1+2 Re-Boot Camp remake still TBA for Europe / Australia and not appearing at all for Japan. There were also no changes to its projections for the fiscal year released in May.

As for the hardware slowdown specifically, the company cited ongoing semiconductor shortages (and related “buying delays”), but expects to ramp up production through late summer and into the fall to prepare -se for the holiday season. They will also “leverage appropriate means of shipping,” suggesting that the holiday season will see more air cargo being used to move systems from production to distribution whenever possible.



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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!