Current:Home > NewsNintendo to announce Switch successor in this fiscal year as profits rise -Keystone Capital Education
Nintendo to announce Switch successor in this fiscal year as profits rise
View
Date:2025-04-26 07:16:14
TOKYO (AP) — Japanese video-game maker Nintendo said Tuesday that it will make an announcement about a successor to its Switch home console sometime before March 2025.
In reporting its financial results, Nintendo gave no details about the announcement, including about whether it would launch that successor product during this fiscal year, or just announce its plans for it.
“We will make an announcement about the successor to Nintendo Switch within this fiscal year. It will have been over nine years since we announced the existence of Nintendo Switch back in March 2015,” the company’s president, Shuntaro Furukawa, said in a statement.
Kyoto-based Nintendo Co. reported a 13% rise in profit for the fiscal year that ended in March, boosted by solid demand for Switch software like “The Legend of Zelda: Tears of the Kingdom.”
Nintendo’s net profit for the fiscal year through March 2024 totaled 490.6 billion yen ($3 billion), up from 432.7 billion yen in the previous fiscal year. Annual sales rose 4% to 1.67 trillion yen ($11 billion), nearly 80% of it from outside Japan.
Besides “The Legend of Zelda,” whose global sales for the fiscal year totaled 20.6 million units, “Super Mario Bros. Wonder” sold 13.4 million units, and “Pikmin 4” sold nearly 3.5 million, according to Nintendo.
The release a year ago of the film, “The Super Mario Bros. Movie,” also helped sales.
The yen’s weakness against the dollar, which lifts the value in yen of overseas earnings of Japanese exporters like Nintendo, also helped. The U.S. dollar has averaged about 151 Japanese yen over the past fiscal year, up from 133 yen in the previous fiscal year.
Nintendo, which did not break down quarterly numbers, was less optimistic about its financial results for the fiscal year through March 2025, forecasting net profit to fall to 300 billion yen ($1.9 billion).
Nintendo has sold more than 141 million Switch machines, 15.7 million of them during the fiscal year that just ended.
Such sales tend to gradually decline over the years, so offering a steady stream of fun games is crucial.
“Endless Ocean Luminous,” which went on sale this month, has the player go on a virtual scuba diving adventure, complete with whales, colorful fish and other sea creatures. “Luigi’s Mansion 2,” featuring the plumber Mario’s brother, goes on sale next month.
Nintendo is also planning a new film for worldwide release in April 2026. It’s counting on the openings of Donkey Kong Country in Universal Studios Japan, as well as a museum on Nintendo in Kyoto, both scheduled for later this year, to woo more fans to its franchise.
___
Yuri Kageyama is on X: https://twitter.com/yurikageyama
veryGood! (2)
Related
- 'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
- 'It's close to my heart': KC Chiefs running back Clyde Edwards-Helaire in nursing school
- GOP Congressman Jeff Duncan won’t run for 8th term in his South Carolina district
- Why Kyle Richards Felt Weird Being in Public With Mauricio Umansky Before Separation
- All That You Wanted to Know About She’s All That
- Deion Sanders' football sons jet to Paris to walk runway as fashion models
- Man, 20, charged in shooting that critically wounded Pennsylvania police officer
- Ohio child hurt in mistaken police raid, mom says as authorities deny searching the wrong house
- Selena Gomez engaged to Benny Blanco after 1 year together: 'Forever begins now'
- Mila De Jesus' Husband Breaks Silence After Influencer’s Death
Ranking
- Biden administration makes final diplomatic push for stability across a turbulent Mideast
- 5 people killed by tractor trailer after leaving vehicles on snowy Pennsylvania highway
- Ohio child hurt in mistaken police raid, mom says as authorities deny searching the wrong house
- UK leader Rishi Sunak tries to quell Conservative revolt over his Rwanda plan for migrants
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- Songwriters Hall of Fame to induct Steely Dan, R.E.M., Timbaland, Hillary Lindsey
- US Justice Department to release long-awaited findings on Uvalde mass shooting Thursday
- Doomsday cult pastor and others will face murder and child torture charges over deaths of 429 in Kenya
Recommendation
Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
SpaceX readies Falcon 9 for commercial flight to International Space Station
Iowa is the latest state to sue TikTok, claims the social media company misrepresents its content
Nella Domenici, daughter of late US senator from New Mexico, launches her own bid for a seat
Google unveils a quantum chip. Could it help unlock the universe's deepest secrets?
What is 'budget Ozempic?' Experts warn about TikTok's alarming DIY weight loss 'trick'
The national debt hit a record high. Does that affect the average American wallet?
Shooter in Colorado LGBTQ+ club massacre intends to plead guilty to federal hate crimes