Nintendo full-year net profit up 33.3% on brisk Switch demand


Tokyo (AFP)

Japanese gaming giant Nintendo on Thursday reported a leap in annual sales and profits, fuelled by demand for its popular Switch console and titles, including the blockbuster "Animal Crossing".

The firm said net profits rose 33.3 percent on-year to 258.6 billion yen ($2.4 billion) for the fiscal year to March on sales of 1.3 trillion yen, up 9.0 percent.

"Nintendo Switch performed very well without losing momentum," the firm said in a statement.

"Animal Crossing: New Horizons", released in March, has sold 11.77 million units, which the firm said was the best debut ever for a Nintendo Switch title.

The Switch, launched in March 2017, has become a huge global seller, helped by innovative, family-friendly titles that have wowed critics and gamers alike.

But the company forecast smaller sales and profit for the current fiscal year as its Switch games have entered a "crucial" fourth year.

For the fiscal year to March 2021, net profit is projected at 200 billion yen, down 23 percent from the previous year, with annual sales seen at 1.2 trillion yen, down 8.3 percent.