Topic: Nintendo Announces Financial Results For First Quarter Of 2024-25 Fiscal Year

[Shaymin]

The march toward the DS continues, but how much of a boost did Luigi and Mario's remakes provide?

http://www.nintendoworldreport.com/news/68060/nintendo-announces-financial-results-for-first-quarter-of-2024-25-fiscal-year

At the close of the Japanese business day today, Nintendo officially revealed their financial results for the April - June quarter - their first of the fiscal year, with a couple of Mario remakes attempting to stem a seemingly inevitable reduction in financial results compared to last year's Tears of the Kingdom/Super Mario Bros movie debut period.

All monetary figures quoted in yen, with a comparison based on current market rate of US$1 = ¥148.826 provided for clarification only.

Financial Indicators

Revenue: ¥246.638bn (approximately $1.657bn), down 46.54% compared to last year

Operating income: ¥54.51bn (~$366m), down 70.61%

Ordinary income: ¥113.469bn (~$762m), down 55.29%

Digital sales: ¥80.7bn (~$542m), down 32.53%

Mobile and IP revenue: ¥14.7bn ($98.7m), down 53.77%

Hardware Shipments

2.1m Switches were shipped in the quarter for a new system LTD of 143.42m units, leaving the Switch needing to ship 10.6m systems to pass the DS and 15.28m for the PlayStation 2. Shipments per version were 1.24m OLED, 530k original, and 330k Lite.

New Software

Nintendo had three new titles debut during the quarter, with May 23's remake of Paper Mario: The Thousand Year Door leading the way at 1.76m shipments and June 27's Luigi's Mansion 2 HD managing to ship 1.19m units in four days. May 2's Endless Ocean: Luminous - only published outside Japan by Nintendo - was not reported as reaching 1m units sold.

Catalogue Sales

None of the other Nintendo titles shipped a million units in Q1, though Mario Kart 8 Deluxe did ship 930,000 copies for a new leading total of 62.9m copies (and a 44.28% tie rate just for the quarter). The last game on Nintendo's top 10, New Super Mario Bros U Deluxe, is now at 17.61m copies (up from 17.45m at the end of March).

Other Announcements

Nintendo's "Other" segment, which includes playing cards and retail stores including a flagship store in Tokyo, was actually up 55% year over year. The company also reconfirmed the opening of a second flagship store in the United States - located in San Francisco - will occur in 2025.

No changes were reported to Nintendo's financial expectations for the year. Pokemon Legends: Z-A and Metroid Prime 4: Beyond now both show "2025" release dates, whereas before it was solely Pokemon.

[Kairon]

Looks like the Switch's hardware sales are FINALLY starting to slow down in a real way. It does put Nintendo's full Fiscal Year target in jeopardy if this progresses, I imagine that they were expecting sales to drop but maybe not this much. That said, a lot will depend on how the Holiday sales period goes for the Switch, as that  quarter can have an oversize effect on the total year's numbers. Nintendo DOES have new games to sell during that period that it can build on, but again it keeps a price drop in the picture. I imagine they'd like as much as possible to sell Switch this Holiday season without a price drop, especially after a very strong Nintendo Direct, but it's again something that's prominently on the table.