Nintendo announced fiscal 2021 on May 10 (March 2022 issue)※ In the results of the report, turnover decreased by 3.6% from the previous year to 1,695.3 billion yen, operating profit decreased by 7.5% to 592.7 billion yen, and net profit decreased by 0.6% to 477.6 billion yen. The cumulative sales of Nintendo Switch consoles exceeded 100 million units, but the number of sales units recorded negative growth for the first time, down 20.0% from the previous year.
※ The statistical period is from April 1, 2021 to March 31, 2022
Nintendo’s 2021 consolidated performance data is as follows:
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Turnover 1,695.3 billion yen (-3.6%)
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Operating profit 592.7 billion yen (-7.5%)
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Operating profit ratio 35.0% (-1.4 percentage points)
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Ordinary profit 670.8 billion yen (-1.2%)
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Net profit of 477.6 billion yen (-0.6%)
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Net profit ratio 28.2% (+0.9 percentage points)
In terms of turnover, game console software and hardware sales accounted for 1,639.2 billion yen (-3.6%), mobile devices and IP-related revenue accounted for 53.3 billion yen (-6.5%), and others accounted for 2.7 billion yen (+55.9%). Regional turnover accounted for 43.5% in the Americas, 25.0% in Europe, 21.2% in Japan, and 10.3% in other regions, of which the proportion of the Americas increased slightly, while the rest of the regions decreased slightly. The impact of yen exchange rate fluctuations on turnover was +78.5 billion yen.
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Gross profit of 946 billion yen (-2.5%)
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Gross profit margin 55.8% (+0.6 percentage points)
The increase in gross margin was mainly due to the depreciation of the yen (+6.31 yen per US dollar, +6.82 yen per 1 euro).
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Nintendo Switch hardware sales were 23.06 million units (-20.0%)
Nintendo Switch 13.56 million units (-33.3%)
Nintendo Switch (OLED style) 5.8 million units (-)
Nintendo Switch Lite 3.7 million units (-56.5%)
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Nintendo Switch software sold 235.07 million units (+1.8%)
In terms of hardware, the overall sales of Nintendo Switch consoles decreased by 20.0% to 23.06 million units, which was the first decline in sales of the Nintendo Switch console since its launch in March 2017. Among them, Nintendo Switch accounted for 13.56 million units, Nintendo Switch (OLED style) sold in the year accounted for 5.8 million units, and Nintendo Switch Lite accounted for 3.7 million units. The cumulative global sales volume has reached 107.65 million units.
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Digital sales of 359.6 billion yen (+4.5%)
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Digital sales accounted for 42.6% (-0.2%)
Digital sales rose slightly by 4.5% to 359.6 billion yen, while the proportion of digital sales fell slightly by 0.2 percentage points to 42.6%.
Nintendo also announced that it will conduct a 31-year-old stock split on October 1 this year, dividing the original 1 share into 10 shares and reducing the share price per share. ※, in order to facilitate the participation of more individual investors. In addition, a stock dividend system will be introduced to give directors and executive officers shares with transfer restrictions.
※ The stock price closed on May 10 was 56,360 yen per share
Fiscal Year 2022 Performance Forecast
Nintendo Fiscal Year 2022 ※ The linked performance forecast data is as follows:
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Turnover 1.6 trillion yen (-5.6%)
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Operating profit 500 billion yen (-15.6%)
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Ordinary profit 480 billion yen (-28.4%)
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Net profit of 340 billion yen (-28.8%)
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Nintendo Switch hardware sold 21 million units (-8.9%)
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Nintendo Switch software sold 210 million units (-10.7%)
※ The estimated statistical period is from April 1, 2022 to March 31, 2023
