Nintendo, The Current Fiscal Year Ordinary Profit Revised Downward by 12%, Dividend Revised down by 13 yen

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Tue Feb 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 February 4th (15:30). The consolidated ordinary profit for the cumulative third quarter of the fiscal year ending March 2025 (April to December) dropped 42.3% from the same period last year to 327 billion yen.

In addition, the full-year consolidated ordinary profit has decreased 11.9%, from the previous forecast of 420 billion yen to 370 billion yen (compared to 680 billion yen in the previous period), leading to an increase in the profit decline rate from 38.3% to 45.6%.

Based on the full-year plan announced by the company after the downward revision, our estimate of the consolidated ordinary profit for the October to March period (2H) has decreased 18.3%, from the previous forecast of 272 billion yen to 222 billion yen (compared to 300 billion yen in the same period of the previous year), leading to an increase in the profit decline rate from 9.2% to 25.8%.

Due to a decline in performance, the company has reduced its planned annual dividend for the current fiscal year from the original plan of 129 yen to 116 yen (compared to 211 yen in the previous period).

In the most recent three-month period, from October to December (3Q), the consolidated ordinary profit decreased to 180 billion yen, a 3.9% decrease compared to the same period last year. The operating profit margin decreased from 30.8% in the same period last year to 29.1%.

Kabutan News

Actual Results

Accumulated Results 3rd Quarter

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Progress Rate vs. First Half	Announce	Accounting Standards
Apr - Dec, 2022	1,295,178	410,541	482,580	346,227	297.1	80.3	Feb 7, 2023	J-GAAP
Apr - Dec, 2023	1,394,796	464,410	567,357	408,041	350.5	83.4	Feb 6, 2024	J-GAAP
Apr - Dec, 2024	956,218	247,597	327,117	237,189	203.7	88.4	Feb 4, 2025	J-GAAP
YoY	-31.4%	-46.7%	-42.3%	-41.9%	-41.9%

Guidance Update

Second Half Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Oct - Mar, 2024 Prev	756,701	238,487	272,900	191,342	164.4	94	Nov 5, 2024	J-GAAP
Oct - Mar, 2024 New	666,701	158,487	222,900	161,342	138.6	81	Feb 4, 2025	J-GAAP
Revision Rate	-11.9%	-33.5%	-18.3%	-15.7%	-15.7%

Full Year Update

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Adj. Dividend	Announce	Accounting Standards
Mar, 2025 Prev	1,280,000	360,000	420,000	300,000	257.7	129	Nov 5, 2024	J-GAAP
Mar, 2025 New	1,190,000	280,000	370,000	270,000	231.9	116	Feb 4, 2025	J-GAAP
Revision Rate	-7.0%	-22.2%	-11.9%	-10.0%	-10.0%

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	666,701	158,487	222,900	161,342	138.6	81	Feb 4, 2025	J-GAAP
YoY	-23.9%	-36.4%	-25.8%	-26.4%	-26.4%

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	1,190,000	280,000	370,000	270,000	231.9	116	Feb 4, 2025	J-GAAP
YoY	-28.8%	-47.1%	-45.6%	-45.0%	-45.0%

Quarterly Results

Fiscal Year	Revenue	Operating Profit	Ordinary Profit	Net Profit	Adj. EPS	Operating Profit Margin	Announce	Accounting Standards
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
Oct - Dec, 2024	432,919	126,084	180,017	128,531	110.4	29.1	Feb 4, 2025	J-GAAP
YoY	-27.7%	-31.7%	-3.9%	-6.0%	-6.0%