Thursday, 26 May 2022
WorldNintendo net profit of 477.6 billion yen in fiscal year 2021

Nintendo net profit of 477.6 billion yen in fiscal year 2021

The Kyoto-based consumer electronics company has announced its expectations for the 2022 fiscal year, with its comprehensive balance sheet for the 2021 fiscal year ending in March.

Accordingly, the Japanese firm’s fiscal year 2021 net profit was recorded as 477.6 billion yen ($3.7 billion), down 0.6 percent compared to the previous fiscal year.

Operating profit fell 7.5 percent to 592.7 billion yen ($4.58 billion) as sales revenue fell 3.6 percent to 1.7 trillion yen ($13.1 billion).

The fall will continue

The Japanese firm expects its net profit to fall by 28.8 percent and operating profit by 15.6 percent in the 2022 fiscal year, which will end in 2023.

The sales data of the popular “Switch” model game console, which was first released in 2017, were also included in the balance sheet data.

Accordingly, “Switch”, which sold 28.8 million units in the previous fiscal year 2020, was sold 23 million units in the 2021 fiscal year.

Due to global semiconductor chip supply shortages, the Japanese firm aims to sell 21 million units in the current fiscal year.

Nintendo President Furukawa Shuntaro explained that the semiconductor chip shortage “couldn’t predict the process by which it will be resolved”.

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