Financial Results Explanatory Material
1st Quarter of Fiscal Year Ending March 2024
Nintendo Co., Ltd.
August 3, 2023
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Nintendo Co., Ltd. | 1 |
1. Consolidated Financial Results and Outlook
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Nintendo Co., Ltd. | 2 |
Consolidated Financial Highlights
FY23/Q1FY24/Q1 Comparison
Net sales | 307.4 | bn yen | 461.3 | bn yen | +50.0 | % |
Operating profit | 101.6 | bn yen | 185.4 | bn yen | +82.4 | % |
Operating profit ratio | 33.1 | % | 40.2 % | +7.1 pt. | ||
Ordinary profit | 166.7 | bn yen | 253.7 | bn yen | +52.2 | % |
Net profit | 118.9 | bn yen | 181.0 | bn yen | +52.1 | % |
Net profit ratio | 38.7 | % | 39.2 % | +0.5 pt. |
- Net profit: Profit attributable to owners of parent
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FY = Fiscal Year
FY24/Q1 indicates the period between April 1, 2023 and June 30, 2023.
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- Year-on-year,net sales for the first quarter of the fiscal year increased by 50.0% to 461.3 billion yen, operating profit rose by 82.4% to 185.4 billion yen, ordinary profit rose by 52.2% to 253.7 billion yen, and profit attributable to owners of parent rose by 52.1% to 181.0 billion yen.
Nintendo Co., Ltd. | 3 |
Consolidated Sales
FY23/Q1 | FY24/Q1 | Comparison | |||
Net sales | 307.4 bn yen | 461.3 | bn yen | +50.0 % | |
Dedicated video game platform*1 | 295.6 bn yen | 427.4 | bn yen | +44.6 % | |
Mobile, IP related income, etc.*2 | 10.9 | bn yen | 31.8 | bn yen | +190.1 % |
Playing cards, etc. | 0.8 | bn yen | 1.9 | bn yen | +147.3 % |
*1 | Includes hardware, software (including downloadable versions of | FY24/Q1 Regional Sales Ratio | |
packaged software, download-only software, add-on content, | |||
and Nintendo Switch Online) and accessories. | |||
*2 | Includes income from visual content, smart-device content and royalties. | 12.5% 20.0% | Japan |
Effect of changes in foreign exchange rates | The Americas | |
on net sales: +20.5 billion yen | 22.9% | Europe |
44.6% | Other |
Proportion of sales outside of Japan: 80.0%
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- Sales from our dedicated video game platform business increased by 44.6% year- on-year to 427.4 billion yen. In addition to the increase year-on-year in unit sales of both Nintendo Switch hardware and software, another main factor in this growth in net sales was the larger percentage of hardware sales accounted for by Nintendo Switch ‒ OLED Model, which has a higher unit price. The depreciation of the yen also had an effect.
- In the mobile and IP related business, overall sales rose by 190.1% year-on-year to 31.8 billion yen, bolstered by an increase in income from royalties and income from visual content related to The Super Mario Bros. Movie.
Nintendo Co., Ltd. | 4 |
Gross Profit
FY23/Q1 | FY24/Q1 | Comparison | ||||
Gross profit | 184.5 bn yen | 281.0 | bn yen | +52.3 % | ||
Gross profit ratio | 60.0 % | 60.9 | % | +0.9 pt. | ||
Main Variable Factors | ||||||
FY23/Q1 | FY24/Q1 | Comparison | ||||
Proportion of hardware | 43.8 % | 40.9 | -2.9pt. | |||
sales*1 | % | |||||
Proportion of first-party | 76.3 % | 88.8 | +12.5 pt. | |||
software sales*2 | % | |||||
Proportion of digital | 53.0 % | 47.3 | -5.7pt. | |||
sales*2 | % | |||||
Average | 1 USD | 129.66 yen | 137.34 | yen | +7.68 yen | |
exchange rate | 1 Euro | 138.10 yen | 149.48 | yen | +11.38 yen | |
*1 Proportion of sales to total dedicated video game platform sales | 5 | |||||
*2 Proportion of sales to total dedicated video game platform software sales |
- With the increase in net sales, gross profit rose by 52.3% year-on-year to 281.0 billion yen.
- Although the proportion of hardware sales declined and the proportion of first- party software sales increased, our gross profit margin remained at the same level year-on-year. This was due in part to the lower proportion of digital sales and Nintendo Switch ‒ OLED Model, which has a lower profit margin than the other models in the Nintendo Switch family of systems, accounting for a greater percentage of hardware sales.
Nintendo Co., Ltd. | 5 |
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Nintendo Co. Ltd. published this content on 03 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 03 August 2023 07:27:09 UTC.