Nintendo, Ordinary Profit Forecast for the Fiscal Year Revised Upward by 21%, Dividend Revised Upward by 52 Yen

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Tue Nov 4, 2025 3:30 pm JST Earnings

7974 Nintendo Co., Ltd. 【J-GAAP】

Earnings Report

Nintendo Co., Ltd. <7974> [TSE Prime] announced its financial results after the market closed on November 4th (15:30). The consolidated ordinary profit for the cumulative second quarter of the fiscal year ending March 2026 (April to September) expanded 236 billion yen, an increase 60.5% compared to the same period last year.

In addition, the full-year forecast for consolidated ordinary profit has been revised upward 21.1%, from the previous forecast of 380 billion yen to 460 billion yen (compared to 372 billion yen in the previous period), increasing the growth rate from 2.1% to 23.6%.

Based on the first-half performance announced by the company and the full-year plan, our calculation indicates that the consolidated ordinary profit for the October to March period (second half) is expected to nearly flat at 223 billion yen, down 0.6% from the same period last year.

In light of the strong performance, the company has significantly increased its planned annual dividend for the current fiscal year from the original plan of 129 yen to 181 yen (compared to 120 yen in the previous period).

In the most recent three-month period, from July to September (2Q), the consolidated ordinary profit surged 4.2 times that of the same period last year, reaching 140 billion yen. However, the operating profit margin significantly dropped from 24.2% in the same period last year to 16.7%.

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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, 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	39.5	Nov 5, 2024	J-GAAP
Apr - Sep, 2025	1,099,565	145,181	236,040	198,936	170.9	51.3	Nov 4, 2025	J-GAAP
YoY	+110.1%	+19.5%	+60.5%	+83.1%	+83.1%

First Half Results vs. Previous Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Apr - Sep, 2025 Guidance	ー	ー	ー	ー	－	－	May 8, 2025	J-GAAP
Apr - Sep, 2025 Results	1,099,565	145,181	236,040	198,936	170.9	42	Nov 4, 2025	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, 2026 Prev	1,900,000	320,000	380,000	300,000	257.7	129	May 8, 2025	J-GAAP
Mar, 2026 New	2,250,000	370,000	460,000	350,000	300.6	181	Nov 4, 2025	J-GAAP
Revision Rate	+18.4%	+15.6%	+21.1%	+16.7%	+16.7%

Current Period Guidance

Second Half Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024	641,623	161,040	225,216	170,148	146.1	85	May 8, 2025	J-GAAP
Oct - Mar, 2025 Guidance	1,150,435	224,819	223,960	151,064	129.8	139	Nov 4, 2025	J-GAAP
YoY	+79.3%	+39.6%	-0.6%	-11.2%	-11.2%

Current Period Guidance

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2024	1,671,865	528,941	680,497	490,602	421.4	211	May 7, 2024	J-GAAP
Mar, 2025	1,164,922	282,553	372,316	278,806	239.5	120	May 8, 2025	J-GAAP
Mar, 2026 Guidance	2,250,000	370,000	460,000	350,000	300.6	181	Nov 4, 2025	J-GAAP
YoY	+93.1%	+30.9%	+23.6%	+25.5%	+25.5%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
Jul - Sep, 2024	276,661	67,003	33,631	27,704	23.8	24.2	Nov 5, 2024	J-GAAP
Oct - Dec, 2024	432,919	126,084	180,017	128,531	110.4	29.1	Feb 4, 2025	J-GAAP
Jan - Mar, 2025	208,704	34,956	45,199	41,617	35.8	16.7	May 8, 2025	J-GAAP
Apr - Jun, 2025	572,363	56,928	95,822	96,032	82.5	9.9	Aug 1, 2025	J-GAAP
Jul - Sep, 2025	527,202	88,253	140,218	102,904	88.4	16.7	Nov 4, 2025	J-GAAP
YoY	+90.6%	+31.7%	+316.9%	+271.4%	+271.4%