TOKYO (dpa-AFX) - Nintendo Co., Ltd. (NTDOY), a Japan-based video game developer and publisher, on Thursday reported sharply higher first-quarter profit, despite decline in sales mainly helped by one-time gains.
Operating profit surged to 142.596 billion yen from 56.928 billion yen a year earlier, reflecting a higher proportion of software sales in the product mix and the refund of U.S. IEEPA tariffs that had been recorded as cost of sales in prior periods.
Ordinary profit increased to 206.150 billion yen from 95.822 billion yen, benefiting from 30.309 billion yen in equity-method earnings, 16.852 billion yen in foreign exchange gains and 13.196 billion yen in interest income.
Profit attributable to owners of the parent increased to 147.423 billion yen or 127.88 yen per basic share from 96.032 billion yen or 82.48 yen per basic share a year earlier.
Net sales declined 9.5% to 517.813 billion yen from 572.363 billion yen a year earlier.
Looking ahead, Nintendo expects fiscal 2027 net sales to increase 11.4% to 2.050 trillion yen and operating profit to rise 2.7% to 370.000 billion yen. However, it projects ordinary profit to decline 20.7% to 430.000 billion yen and profit attributable to owners of the parent to decrease 26.9% to 310.000 billion yen, or 268.90 yen per share.
In Tokyo, Nintendo shares closed 2.87% higher at 7,641 yen on Thursday.
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