Nintendo’s profits fell 9.4 percent in fiscal 2022

The Kyoto-based consumer electronics company has announced its expectations for the 2023 fiscal year, with its comprehensive balance sheet for fiscal 2022 ending in March.

Accordingly, the Japanese firm’s fiscal year 2022 net profit was 432.7 billion yen, down 9.4 percent compared to the previous fiscal year.

Operating profit fell 14.9 percent to 504.3 billion yen ($3.73 billion) in the fiscal year, with sales revenue falling 5.5 percent to 1.6 trillion yen ($11.8 billion).

Net profit may decline

The statement also included the sales data of the popular “Switch” model game console, which was first released in 2017.

Accordingly, “Switch”, which sold 28.8 million units in the previous 2020 and 23 million units in 2021, was sold 17.9 million units in the 2022 fiscal year.

The Japanese firm expects its net profit to fall by 21.4 percent to 340 billion yen ($2.5 billion) for the 2023 fiscal year, which will end in March 2024.