By Kosaku Narioka


Nintendo Co. said Tuesday it expected fiscal-year net profit to drop 29%, as it projects weaker sales of Switch consoles and software copies.

The Japanese videogame company said it expects net profit to fall to 340.00 billion yen ($2.61 billion) for the fiscal year that started in April, following a 0.6% decline to Y477.69 billion the previous fiscal year.

Nintendo said it expects to sell 21.0 million Switch consoles this fiscal year, compared with 23.1 million the previous fiscal year. It expects to sell 210.0 million Switch software copies this fiscal year, compared with 235.1 million copies sold the previous fiscal year.

Nintendo expects revenue to decrease 5.6% to Y1.600 trillion this fiscal year, following a 3.6% drop the previous fiscal year.

Fourth-quarter net profit was Y110.30 billion, given a net profit of Y367.39 billion in the preceding nine-month period ended Dec. 31, according to a Wall Street Journal calculation. That beat the estimate of Y80.16 billion from a poll of analysts by FactSet.

Fourth-quarter revenue was Y375.13 billion, given revenue of Y1.320 trillion in the preceding nine-month period.


Write to Kosaku Narioka at kosaku.narioka@wsj.com


(END) Dow Jones Newswires

05-10-22 0358ET