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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Sony Corporation    6758   JP3435000009

SONY CORPORATION

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Nintendo online subscriptions soar driven by 'Animal Crossing' fans

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09/16/2020 | 11:42am EDT
The logo of the Nintendo is displayed at Nintendo Tokyo, the first-ever Nintendo official store in Japan, during a press preview in Tokyo

Japan's Nintendo Co Ltd on Wednesday reported surging user numbers for its Switch Online subscription service, driven by hit titles like "Animal Crossing: New Horizons", as the firm belatedly builds the recurring revenues such services offer.

Nintendo Switch Online, which gives users the option to play friends, save game progress online and access classic titles, has been growing rapidly this year with more than 26 million users as of September, compared with 15 million in January, the Kyoto-based gaming firm said.

The rise is driven by the popularity of hit titles like "Animal Crossing", which has sold more than 22 million copies, "Super Smash Bros. Ultimate" and the latest "Pokemon" titles, President Shuntaro Furukawa told a briefing.

Rivals Sony Corp and Microsoft Corp, which on Tuesday launched a cloud gaming service for playing Xbox titles on Android devices, have been targeting subscription services to extend the life of their consoles.

Nintendo has been slow to grow such services and is yet to move into cloud gaming, instead focusing on the portable Switch device, which has been on a tear this year from consumers looking for escapism amid the COVID-19 pandemic.

Stuck-at-home gamers helped push up digital downloads to more half of Switch software sales in the quarter ended June. That trend is being tempered by the reopening of retailers, Furukawa said.

Nintendo's president reiterated the firm's commitment to both hardware and software. In October it will launch a "Mario Kart" toy that can be controlled by the Switch.

(Reporting by Sam Nussey; Editing by Simon Cameron-Moore)

By Sam Nussey


Stocks mentioned in the article
ChangeLast1st jan.
ALPHABET INC. 4.73% 1582.35 Delayed Quote.12.80%
MICROSOFT CORPORATION 2.01% 206.66 Delayed Quote.28.39%
NINTENDO CO., LTD. 1.10% 58100 End-of-day quote.32.14%
SONY CORPORATION 6.69% 8800 End-of-day quote.18.90%
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Financials
Sales 2021 8 408 B 80 328 M 80 328 M
Net income 2021 605 B 5 781 M 5 781 M
Net cash 2021 2 390 B 22 836 M 22 836 M
P/E ratio 2021 17,8x
Yield 2021 0,55%
Capitalization 10 855 B 104 B 104 B
EV / Sales 2021 1,01x
EV / Sales 2022 0,91x
Nbr of Employees 111 700
Free-Float 96,7%
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Technical analysis trends SONY CORPORATION
Short TermMid-TermLong Term
TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Average target price 10 036,50 JPY
Last Close Price 8 800,00 JPY
Spread / Highest target 50,3%
Spread / Average Target 14,1%
Spread / Lowest Target -9,09%
EPS Revisions
Managers
NameTitle
Kenichiro Yoshida Co-Chairman, President & Chief Executive Officer
Shuzo Sumi Co-Chairman
Hiroki Totoki Chief Financial Officer, Director & Vice President
Toru Katsumoto Senior Managing Executive Officer, Head-R&D
Makoto Toyoda Chief Information Officer & Executive Officer
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