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Nintendo Co., Ltd., The Current Fiscal Year Operating Profit Revised Downward by 10%

Tue Nov 5, 2024 3:30 pm JST Earnings

7974 Nintendo Co., Ltd. 【J-GAAP】

Earnings Report

Nintendo Co., Ltd. <7974> [TSE-P] announced its financial results after the market closed on November 5th (15:30). The consolidated operating profit for the cumulative second quarter of the fiscal year ending March 2025 (April to September) significantly dropped by 56.6% from the same period last year to 121 billion yen.

In addition, the full-year consolidated operating profit has downwardly by 10.0%, from the previous forecast of 400 billion yen to 360 billion yen (compared to 528 billion yen in the previous period), leading to an increase in the profit decline rate from 24.4% to 31.9%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated operating profit for the October to March period (second half) is expected to decrease by 4.2% from the same period last year to 238 billion yen.

In the most recent three-month period, from July to September (2Q), the consolidated operating profit decreased to 67 billion yen, a 29.1% decrease compared to the same period last year. The operating profit margin decreased from 28.2% in the same period last year to 24.2%.

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Actual Results

Accumulated Results 2nd Quarter
Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Progress Rate vs. First Half Announce Accounting Standards
Apr - Sep, 2022 656,974 220,387 322,464 230,451 197.6 53.6 Nov 8, 2022 J-GAAP
Apr - Sep, 2023 796,237 279,910 380,007 271,298 233.0 55.8 Nov 7, 2023 J-GAAP
Apr - Sep, 2024 523,299 121,513 147,100 108,658 93.3 35.0 Nov 5, 2024 J-GAAP
YoY -34.3% -56.6% -61.3% -59.9% -59.9%

First Half Results vs. Previous Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Apr - Sep, 2024 Guidance ー ー ー ー － － May 7, 2024 J-GAAP
Apr - Sep, 2024 Results 523,299 121,513 147,100 108,658 93.3 35 Nov 5, 2024 J-GAAP
Revision Rate － － － － －

Guidance Update

Full Year Update

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2025 Prev 1,350,000 400,000 420,000 300,000 257.7 129 May 7, 2024 J-GAAP
Mar, 2025 New 1,280,000 360,000 420,000 300,000 257.7 129 Nov 5, 2024 J-GAAP
Revision Rate -5.2% -10.0% 0.0% 0.0% 0.0%

Current Period Guidance

Second Half Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Oct - Mar, 2023 875,628 249,031 300,490 219,304 188.4 131 May 7, 2024 J-GAAP
Oct - Mar, 2024 Guidance 756,701 238,487 272,900 191,342 164.4 94 Nov 5, 2024 J-GAAP
YoY -13.6% -4.2% -9.2% -12.8% -12.8%

Current Period Guidance

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Adj. Dividend Announce Accounting Standards
Mar, 2023 1,601,677 504,375 601,070 432,768 371.4 186 May 9, 2023 J-GAAP
Mar, 2024 1,671,865 528,941 680,497 490,602 421.4 211 May 7, 2024 J-GAAP
Mar, 2025 Guidance 1,280,000 360,000 420,000 300,000 257.7 129 Nov 5, 2024 J-GAAP
YoY -23.4% -31.9% -38.3% -38.9% -38.8%

Quarterly Results

Fiscal Year Revenue Operating Profit Ordinary Profit Net Profit Adj. EPS Operating Profit Margin Announce Accounting Standards
Jul - Sep, 2023 334,896 94,469 126,241 90,279 77.5 28.2 Nov 7, 2023 J-GAAP
Oct - Dec, 2023 598,559 184,500 187,350 136,743 117.5 30.8 Feb 6, 2024 J-GAAP
Jan - Mar, 2024 277,069 64,531 113,140 82,561 70.9 23.3 May 7, 2024 J-GAAP
Apr - Jun, 2024 246,638 54,510 113,469 80,954 69.5 22.1 Aug 2, 2024 J-GAAP
Jul - Sep, 2024 276,661 67,003 33,631 27,704 23.8 24.2 Nov 5, 2024 J-GAAP
YoY -17.4% -29.1% -73.4% -69.3% -69.3%

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