Nintendo Q1 results for fiscal year 2023 (Switch hits 111+ million, software sales update, release calendar & more)
The Q1 report is in!
Nintendo has shared the fiscal results for Q1 of their 2023 fiscal year, which includes data from April, May and June 2022. You can see the complete breakdown of sales stats and more below.
- net sales of 307,460 billion yen
- operating profit of 101,647 billion yen
- ordinary profit of 166,723 billion yen
- total assets of 2,586,214 billion yen
- net assets of 2,035,609 billion yen
Year-on-year, net sales for the first quarter declined by 4.7%, operating profit declined by 15.1%, ordinary profit increased by 29.6%, and profit attributable to owners of parent increased by 28.3% to 118.9 billion yen.
Sales from the dedicated video game business declined by 4.3% year-on-year to 295.6 billion yen. Positive factors included the depreciation of the yen and the addition of Nintendo Switch – OLED Model with its high unit price to the hardware lineup, but hardware production was impacted by factors such as the global shortage of semiconductor components, resulting in a decrease in hardware shipments and subsequent decline in overall sales.
Mobile and IP related business royalty income remained stable and income from smart-device content declined year-on-year, causing overall sales to decrease by 16.8% for a total of 10.9 billion yen.
Gross profit declined by 4.3% year-on-year to 184.5 billion yen due to the decrease in net sales. Although first-party software and digital sales accounted for a larger percentage of overall software sales, the gross profit margin remained at the same level as the same period last year, due to the addition of Nintendo Switch – OLED Model to the hardware lineup with its lower profit margin compared to other models, and the increase in component costs due to factors such as the semiconductor shortage.
Digital sales in the first quarter increased by 16.0% year-on-year to 88.0 billion yen, accounting for 53.0% of total software sales for Nintendo’s dedicated video game platform.
There are no changes to the consolidated financial forecast for the fiscal year ending March 31, 2023 that was announced on May 10, 2022.
Switch hardware sales
- Switch in Q1 2023: 3.43 million units, dropping 22.9% year-on-year
- Switch sales in total: 111.08 million units
Switch software sales
- Switch software in Q1 2023: 41.41 million units, dropping 8.6% year-on-year
- Switch software sales in total: 863.59 million units
Switch million seller updates
- Kirby and the Forgotten Land: 4.53 million units (1.88 million in Q1 2023)
- Nintendo Switch Sports: 4.84 million units
- Mario Strikers: Battle League: 1.91 million units
- Mario Kart 8 Deluxe: 46.82 million units
- Animal Crossing: New Horizons: 39.38 million units
- Super Smash Bros. Ultimate: 28.82 million units
- The Legend of Zelda: Breath of the Wild: 27.14 million units
- Pokémon Sword/Pokémon Shield: 24.50 million units
- Super Mario Odyssey: 23.93 million units
- Super Mario Party: 18.06 million units
- Pokémon Brilliant Diamond/Pokémon Shining Pearl: 14.79 million units
- Pokémon: Let’s Go, Pikachu!/Pokémon: Let’s Go, Eevee!: 14.66 million units
- Ring Fit Adventure: 14.54 million units
Switch first/third party release calendar
Another successful quarter of doom!
Another successful quarter of doom!
Sales are down year-on-year, which in turn are down on the year previous. Sales are slowing down massively. Nintendo can blame things like the tighter profit margin on the OLED model, the shortage of components delaying production or the increase in costs of production. That's their perspective and they're talking to their investors as much as anyone else. But there are factors in their favour, like their competition having bigger production problems or and this is a big one, the weak Yen. It's not a slight, it's just a natural progression of a product lifecycle. I hope this helps speed up their next generation successor, I was ready for it years ago.
Wha!?!?! What happened to Super Mario 3D World+Bowser's Fury?!?! Why is Super Mario Odyssey still not outselling BOTW?!?!?
What is happening to the Super Mario?!?!?