Published , by Morgan Shaver
Published , by Morgan Shaver
In a recent report from Nintendo (NTDOY), full-year (FY23) financial forecast adjustments were shared largely based around the depreciation of the yen. Previously, the assumption was 115 to 1 U.S. dollar and 125 yen to 1 euro, but has since been updated to 135 yen to dollar and 135 yen to euro. It seems Nintendo is being conservative here as currently the dollar to yen exchange rate sits at 145 yen to 1 dollar.
Elsewhere, Nintendo is enjoying solid sales growth with its dedicated video game business growing by 5.7 percent year-on-year to 631.4 billion yen. Even though hardware unit sales declined in volume “due in part to the semiconductor shortage” Nintendo points out that overall hardware sales increased “mainly due to the depreciation of the yen.”
For more on Nintendo’s adjustments to its yen exchange rate assumption and FY23 sales and earnings forecast, be sure to read through the company’s full report. Also brush up on some of our previous Nintendo coverage including Nintendo (NTDOY) first half FY23 digital sales revenue up 30.2% year-on-year, and Nintendo Playing Cards revenue up 51% from first half of FY22.