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Nintendo (NTDOY) lowers FY23 sales and dividend forecast

Nintendo is slightly tempering expectations for the next financial quarter.

Ozzie Mejia

February 6, 2023 11:15 PM

Nintendo

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Nintendo (NTDOY) released its 9-month financial highlights for the fiscal year ending March 2023. While the company is faring well based on sales of Pokemon and Mario Kart, it has lowered its expectations for the immediate future. Late Monday evening, Nintendo lowered its financial and dividend forecasts for the remainder of fiscal year 2023.

The full financial forecast and dividend forecast modification document details the adjusted numbers. The expected net sales number of 1.65 trillion yen has been lowered to 1.60 trillion yen, while operating profit expectations have dipped to 4.80 billion yen from 5.00 billion yen.

"The Company modifies its financial forecast for the fiscal year in consideration of the sales trend through the nine months ended December 31, 2022, its future outlook, as well as a reevaluation of the assumed exchange rate," reads the issued statement. "The assumed exchange rate has been revised from 135 yen to 125 yen per U.S. dollar. The assumed exchange rate for euro remains unchanged at 135 yen per euro."

Dividend forecasts have likewise fallen to 96 yen from 109 yen to fall in line with Nintendo's modified financial forecasts.

"Nintendo Co., Ltd. (the "Company") had recorded a total of 76.4 billion yen of foreign exchange gains in non-operating income during the six-month period ended September 30, 2022," reads an issued non-operating income notice. "Due to fluctuations in foreign exchange rates, foreign exchange gains decreased to 28.9 billion yen at the end of the nine-month period ended December 31, 2022. The decrease was mainly due to valuation losses incurred from the revaluation of foreign currency denominated assets held by the Company as of the end of the period (December 31, 2022)."

We're looking through the latest Nintendo financial results and we'll be reporting on outcomes of interest throughout Tuesday. Be sure to come back to Shacknews, as we report on the latest Nintendo news.

Ozzie Mejia

Senior Editor

Ozzie has been playing video games since picking up his first NES controller at age 5. He has been into games ever since, only briefly stepping away during his college years. But he was pulled back in after spending years in QA circles for both THQ and Activision, mostly spending time helping to push forward the Guitar Hero series at its peak. Ozzie has become a big fan of platformers, puzzle games, shooters, and RPGs, just to name a few genres, but he’s also a huge sucker for anything with a good, compelling narrative behind it. Because what are video games if you can't enjoy a good story with a fresh Cherry Coke?