Nintendo has revised down its earnings forecast for the entire group for the current fiscal year due to lower-than-expected sales of its flagship game console, the Nintendo Switch.
On the other hand, the company has announced that it will raise the base salary of all employees by 10%, considering the price hike.
According to the announcement, Nintendo has revised its forecast for the entire group for the current fiscal year as of November last year, increasing sales from 1.65 trillion yen to 1.6 trillion yen, and final profit from 400 billion yen. Both have been revised downward to 370 billion yen.
Regarding the reason, the company has not achieved its target for the year-end sales season, mainly in overseas markets, for its mainstay Nintendo Switch game console. In response to the trend of a lull in depreciation, the exchange rate assumption of 135 yen per dollar was revised to 125 yen.
"Nintendo Switch has sold over 120 million units in total, and although it will not be easy to sell at the pace we've seen so far, we'd like to continue to promote sales by proposing unique ways to play." and
On the other hand, the company has announced that it will raise the basic salary of all employees, including part-time workers, by 10% from the current level from April, considering the price hike.