Nintendo Cuts Full-Year Sales, Profit Forecasts

Kyoto, Nov. 6 (Jiji Press)--Nintendo Co. on Tuesday lowered its sales and profit forecasts for the fiscal year ending in March, reflecting lower-than-expected sales of its Switch home game console.

The Japanese company cut its consolidated sales estimate to 1.28 trillion yen from 1.35 trillion yen and its operating profit projection to 360 billion yen from 400 billion yen.

Sales of the Switch, now in its eighth year on the market, plunged 31.0 pct to 4.72 million units in the first half ended in September from a year before.

The company lowered its full-year sales forecast for the console by one million units to 12.5 million units.

Nintendo President Shuntaro Furukawa, speaking at an online press conference, reiterated that the company will announce a successor to the Switch within this fiscal year.

[Copyright The Jiji Press, Ltd.]