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Nintendo Releases Fiscal Year Earnings And Guidance For Next Year

by Donald Theriault - May 7, 2020, 4:56 am PDT
Total comments: 1 Source: Nintendo

So much money Nintendo could probably buy an island.

Nintendo issued their full year financial results for the period of April 1, 2019 -> March 31, 2020 overnight, with some big numbers for the company admist the COVID-19 pandemic.

All numbers reported in yen: a rounded comparison based on an exchange rate of 106.571 yen to the US$ is provided for clarification only.

Financial Indicators

Revenue: ¥1,308,519,000,000 ($12.278b) for the year, ¥285,851m ($2.682b) of which was in the 4th quarter.

Operating income: ¥352,370m ($3.306b) for the year, ¥89,440m ($839m) for Q4.

Ordinary income: ¥360,461m ($3.382b) for the year, ¥86.620m ($812m) for Q4.

Digital sales: ¥204.1b ($1.915b) for the year, ¥79,200 ($743m) for Q4.

Mobile/IP revenue: ¥51.2b ($480m) for the year, ¥14.300b ($134m) for Q4.

Hardware Sales

Switch: 3.29m units shipped in the quarter, new LTD total is 55.77m. 21.03m units were shipped during the fiscal year. Switch is now 6.14m units away from passing the Famicom/NES for second place among Nintendo home consoles.

3DS: 60,000 units shipped in the quarter, new LTD 75.77m. Notably, Nintendo is not providing a forecast for 3DS sales (see below).

Software Highlights

The past quarter saw the launch of Animal Crossing: New Horizons, which shipped (to retail + sold digitally) 11.77m copies in the eleven days left in the fiscal year following its March 20 launch. Due to COVID-19 restrictions Nintendo confirmed in a follow-up call that the game's sales were now 13.41m units, making it the best selling game in the series after about a month and a half.

The quarter's other major debut was Pokémon Mystery Dungeon Rescue Team DX, which shipped 1.26m copies following the March 6 launch.

For catalogue titles: Mario Kart 8 Deluxe shipped 1.81m copies in the quarter for a new LTD of 24.77m. Super Smash Bros. Ultimate added 1.16m copies (18.84m LTD), Pokémon Sword and Shield 1.31m copies (17.37m), Breath of the Wild on Switch 1.07m copies (17.41m), Super Mario Odyssey 820,000 copies (17.41m), and the perpetually-out-of-stock Ring Fit Adventure managed to ship 560,000 copies (LTD 2.73m). Splatoon 2 and Super Mario Party both crossed the 10m shipment mark this quarter.

Projections

Due to the pandemic disrupting operations, Nintendo is projecting revenue of ¥1,200b yen, operating profit of ¥300m yen, and net profit of ¥200m yen for the coming fiscal year. The only platform to receive projections for 2020-21 is the Switch, with projected hardware sales of 19m units and software sales of 140m (compared to 21.03m and 168.72m of each for the prior year).

The only announced new software for the coming year is Xenoblade Chronicles Definitive Edition, Clubhouse Games: 51 Worldwide Games, two Famicom Detective Club games (JP only), and Bravely Default II (rest of world only). Bayonetta 3, Metroid Prime 4, and the sequel to Breath of the Wild are still "TBA". The Pokémon Sword and Shield Expansion Pass, the second Fighter's Pass for Super Smash Bros. Ultimate, and Animal Crossing: New Horizons updates are also planned.

Nintendo did not give an indication as to when additional announcements would be made for new releases beyond this quarter, citing disruption to the work both in Japan and with overseas partners.

Talkback

nickmitchMay 07, 2020

Great results for the year, but a big yikes for their projections.

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