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Nintendo Releases Financial Results For First Quarter Of 2022 Fiscal Year

by Donald Theriault - August 3, 2022, 6:51 am EDT
Discuss in talkback! Source: Nintendo

Considering gas is $7.30 a gallon if the News Editor had a car, is it any wonder North America is down?

The publicly-traded Nintendo released their official financial results for the April to June quarter a few hours ago (the first quarter of the company's fiscal year), with recession fears causing another company to report lower than the same time last year.

All financial indicators reported in yen, a rate of 133.103 yen to 1 US$ is used for comparison only.

Financial Indicators

Operating income: 101.647bn yen (~$763.671m US), down 15.1% year over year

Ordinary income: 166.723bn yen (~$1.253b US), up 29.6% - this is due to currency differences (weak Japanese yen)

Revenue: 307.460bn yen (~$2.31bn US), down 4.7%

Digital sales: 88bn yen (~$661.1m US), up 16%

Mobile revenue: 10.9bn yen (~$81.9m US), down 10.8% - notably, the planned closure of Dragalia Lost was announced nine days before the quarter began

Hardware Shipments

3.43m Switches - 1.52m OLED, 1.32 standard, 590,000 Lites - were shipped in Q3, for a new LTD total of 111.07m units (7.61m units required to pass the Game Boy / Game Boy Color). European shipments were actually up compared to the same quarter last year, though this was offset by precipitous drops in North America and Japan.

Software Highlights

Four titles shipped more than a million units in the quarter, with Nintendo Switch Sports (April 29) scoring an impressive 4.84m shipments in April - notably a $40 or equivalent game. Mario Strikers: Battle League (June 10) shipped 1.91m units. Fire Emblem Warriors: Three Hopes (June 24) did not reach a million units shipped as the other Nintendo software launch, though they would only be reporting sales outside Japan (as the game is published by Koei Tecmo in Japan).

For previous releases, Kirby and the Forgotten Land shipped another 1.88m units in the quarter (new LTD 4.53m, the highest shipments since the original shipped 5.13m copies on the Game Boy) and Mario Kart 8 Deluxe tacked on another 1.49m shipments (new LTD 46.82m). The full Switch top 10 can be found here, with Animal Crossing: New Horizons looking to join the 40m unit club before the end of the year.

Other News

Nintendo reported no changes to the upcoming release schedule, with the Advance Wars 1+2 Re-Boot Camp remake still TBA for Europe / Australia and not listed at all for Japan. There were also no changes to their projections for the fiscal year released in May.

Regarding the slowdown in hardware specifically, the company cited the ongoing semiconductor shortage (and related "delays in procurement"), but expects to ramp production back up through late summer and into autumn to set up for the holiday season. They will also "leverage appropriate means of shipment", suggesting the holiday season will see more air freight used to move systems from production to distribution where possible.

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