, as shortages of computer chips hurt production, the Japanese video game maker behind the Super Mario and Pokemon franchises said Thursday.
Kyoto-based Nintendo Co. recorded a 367 billion yen (US$3.2 billion) profit for the period, down from 377 billion yen the previous year. Its sales in the same period fell 6% to 1.3 trillion yen ($11 billion).
Game makers have reaped windfall profits from more people staying home during the pandemic. But sales of Nintendo Switch consoles had more momentum in the previous fiscal year, driven by its hit "Animal Crossing: New Horizons."
Console sales are often driven by hit games, although the devices tend to sell better early on and then slowly decline in popularity.
Nintendo cut its forecast for Switch console sales for the fiscal year through March to 23 million machines. It had forecast 24 million units, previously slashed from an projection of 25.5 million units.
President Shuntaro Furukawa has said the dearth of computer chips has hindered output, complicating planning for the next fiscal year and beyond.
The problem has also slowed the design process for its next game machine. Nintendo is developing a device to follow the Switch.
Despite the setbacks, more than 100 million Switch machines have sold so far globally. Its most popular games for the latest period were "Pokemon Brilliant Diamond" and "Pokemon Shining Pearl," and new Mario Kart and Mario Party games.
"Pokemon Legends Arceus," which went on sale last month, and the latest Kirby game, set for release in March, are expected to boost sales in the final fiscal quarter, according to Nintendo.
Nintendo faces stiff competition both from longtime rivals such as Microsoft Corp. and Sony Corp. and from newcomers like Netflix and Google.
Microsoft recently announced it's acquiring Activision Blizzard, the maker of Candy Crush and Call of Duty, for $68.7 billion, turning the maker of the Xbox into one of the world's largest game companies.
Sony, which makes the PlayStation series of consoles, is acquiring Bungie Inc., known for its Halo and Destiny games, for $3.6 billion. Such acquisitions add game titles under their wings and in effect dwarf Nintendo.
Nintendo expects to post a 400 billion yen ($3.5 billion) profit on 1.65 trillion yen ($14 billion) sales for the fiscal year through March.
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Yuri Kageyama is on Twitter https://twitter.com/yurikageyama
04:23ET 03-02-22
Foreign Affairs Minister Mélanie Joly has said some 45,000 Canadians could be in the country, though only about half that number have registered with the embassy in Beirut.
A B.C. condo owner who was blamed for a cockroach infestation in her building and charged thousands of dollars for the cost of eradicating the bugs must be refunded, the civil resolution tribunal ruled.
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A B.C. condo owner who was blamed for a cockroach infestation in her building and charged thousands of dollars for the cost of eradicating the bugs must be refunded, the civil resolution tribunal ruled.
Foreign Affairs Minister Mélanie Joly has said some 45,000 Canadians could be in the country, though only about half that number have registered with the embassy in Beirut.
Seas of orange shirts have come to represent a growing awareness of Canada's history of oppressing Indigenous Peoples – but that awareness must translate into more "substantive changes" from the government, according to a B.C. chief.
A child was sent to hospital after being attacked by a coyote in northwest Calgary.
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Dockworkers kicked off a three-day strike at the Port of Montreal on Monday, shutting down two terminals that handle more than 40 per cent of the container traffic at Canada's second-largest port.
More than 90,000 residents east of Atlanta were told to keep sheltering in place Monday a day after a chemical plant fire sent a massive plume of dark smoke high into the sky that could been seen for miles.
Sean "Diddy" Combs is appealing a federal judge's decision to keep him in jail while he awaits trial on sex trafficking charges.
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A man who authorities say spent 12 hours camped outside Donald Trump's golf course before Secret Service spotted him with a rifle pleaded not guilty on Monday to federal charges including attempted assassination.
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Republican JD Vance and Democrat Tim Walz will meet Tuesday in the lone vice presidential debate of the 2024 election, bringing together undercards who have spent two months going after each other and the opposing nominees who top the major-party tickets.
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Migrant groups are pushing the federal government to reverse its cap on international study permits and tightening post-graduate work permit qualifications, claiming it will leave many students 'in limbo.'
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Canadian innovators and technical leaders gathered in Ottawa Thursday to demonstrate the latest cutting-edge technology.
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Ontario Provincial Police laid charges against an Ottawa driver after a child was found to not be wearing a seatbelt inside a vehicle early Sunday morning.
A 19-year-old man convicted of killing a Montreal teenager outside his school in October 2021 was sentenced to six years on Monday.
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The St. Andrews Historical Society in St. Andrews, N.B., announced that it would exhibit “one of the most significant 18th-century treaties between Great Britain and two First Nations of Canada†at Drewhaven Town & Country on Thursday.
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The City of London is informing drivers about temporary road restrictions on Wellington Street as part of the Downtown Loop Phase 3 finishing work and surface paving.
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U.S. Customs and Border Protection officers seized $11,000 US from an inbound American citizen at the Ambassador Bridge.
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The City of Windsor has unveiled plans for the “Park in Perfect Harmony†initiative in the downtown core.
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The Red Bridge, a historic landmark in Kamloops, B.C., was completely destroyed by fire early Thursday morning.
The sentencing for three men convicted of helping lead and coordinate the COVID-19 protest blockade at Coutts, Alta., in 2022 has been delayed.
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A man and woman have been charged after a Lethbridge ice creamery was broken into earlier this week. Staff arrived at Cookie Crimes, in the 300 block of Sixth Street South, just before 5:30 a.m. on Monday to discover the front window broken.
Overnight on Thursday as the community of Elliot Lake was resting to prepare for the upcoming Kraft Hockeyville celebrations, when vandals struck a building that has been top of mind for the northern Ontario city for more than a year.
Ontario Provincial Police remind the public that ‘a case is never closed until it is solved,’ while highlighting the force's continued investigation of the 1996 disappearance of Melanie Ethier.
Sault residents may notice some commotion on the Algoma University campus over the next two weeks as a team conducts an archaeological search.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people’s basic human right to food.
A soccer game in England on Tuesday night drove a spike in online traffic across the Atlantic to a website launched by the Newfoundland and Labrador government.
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