Tag: Business - Page 7
News Nintendo Is The "Cheapest Game Stock In The World" – But Not For Long
Analysts believe operating profit could more than triple in two years
On Thursday, Nintendo posted their financial results for the fiscal year ending in March 2018 – predictably outlining the Switch’s phenomenal performance, which resulted in an over 500% increase in profits for the videogame giant. However, Nintendo was conservative with its...
News I Grew Up With Nintendo And Will Respect Its Traditions, Says New President Shuntaro Furukawa
"I grew up playing the Famicom and come from that generation"
Shuntaro Furukawa has given his first interview since the news broke that he would be replacing Tatsumi Kimishima as Nintendo's president. Speaking at a news conference today, Furukawa acknowledged his history with the company, and stated his desire to push the firm onto new...
News Nintendo Expects To Sell Another 20 Million Switch Consoles This Financial Year
Along with 100 million units of software
Nintendo has said that it expects to shift 20 million Switch systems in the current financial year, which ends in March 2019. The company has issued this bold projection as part of its yearly financial summary, where it confirmed that almost 18 million consoles have been sold since the Switch launched in...
News Shuntaro Furukawa Is Nintendo's New President
Pokemon Board Member Appointed as Kimishima Steps Down
At Nintendo's financial report in Tokyo this afternoon, it has been announced that 68 year old Tatsumi Kimishima will step down in June after nearly three years as President of the company. He will be replaced by board member of both Nintendo and The Pokémon Company, Shuntaro...
News Toys R Us Is Closing All Of Its US And UK Stores
So long, and thanks for all the toys
It's been coming for a long time, but we now have confirmation that beleaguered retailer Toys R Us is shutting all of its US and UK stores. Toys R Us filed for bankruptcy protection in the United States last year, but was hopeful that a buyer could be found or that its current debts could be restructured in a...
News Toys R Us Is Preparing To Liquidate Its U.S. Business, Reports Claim
The curtain falls
Beleaguered toy retailer Toys R Us is preparing to liquidate its bankrupt U.S. operations, it has been claimed. Bloomberg is reporting that the move comes after the company - which was declared bankrupt last September - failed to find a buyer or come to any deal regarding restructuring its massive amounts of debt. The report comes...
News Switch Helped Nintendo Grab 22 Percent Of The Games Market In 2017
Nintendo rises, Microsoft declines
Financial service company IHS Markit has released a report which highlights just how good a 2017 Nintendo had. According to the study, gamers spent more on consoles, software and services last year than at any time since 2011. Nintendo's share of the games market jumped from 9 percent to 22 percent, thanks to the...
News Switch Is A "Fantastic Platform" For Indie Developers, Says Curve Digital
"The Switch community is absolutely thriving"
The Switch's incredible commercial performance has not only given Nintendo a much-needed boost; it has also created opportunities for publishers and developers of all shapes and sizes, too. The console's eShop is packed with indie titles and we're seeing a number of those getting released in...
News Nintendo Switch Helped UK Games Market Grow More Than 12 Percent In 2017
Market was worth £5.11 billion
The UK games market grew 12.4 percent in 2017 to £5.11 billion, thanks in part to the incredible success of the Nintendo Switch. The introduction of Nintendo's new console saw hardware sales jump 29.9 percent. Sales of physical software rose 3.1 percent, but the pre-owned market fell by 15.1 percent, a...
News THQ Nordic Acquires Deep Silver Owner Koch Media In $150 Million Deal
Former THQ brands all united under one roof
Publisher THQ Nordic is set to acquire Koch Media in a deal understood to be worth €121 million ($149.6 million). The deal is for the entirety of Koch's business, which includes the video game publisher Deep Silver. Deep Silver oversees franchises such as Saints Row, Dead Island and Metro, and is acting...
News Nintendo Believes That The Switch Could Sell Beyond The Usual 5-6 Year Console Life Cycle
To infinity and beyond
Unless you've been living under a very sad and lonely video game-deprived rock, you'll no doubt be aware that the Switch is selling like the very best hot cakes the world has ever seen. In a rather enticing statement, Nintendo's Shigeru Miyamoto has hinted at the possibility that the console may be able to take things one step...
Previous recipients include Howard Lincoln and Satoru Iwata
Genyo Takeda may not be a household name in quite the same way as Shigeru Miyamoto, but he's been an incredibly important staff member at Nintendo for the past few decades and his contribution to the games industry in general is being recognised by The Academy of Interactive Arts &...
Biggest third quarter operating profit for eight years
Nintendo has released its Third Quarter Results for this financial year, and the big headline is that in less that a year on sale the Switch has managed to surpass the lifetime sales of its forerunner, the Wii U. The figures show a company in rude health, with net sales up 175.5 percent...
News Nintendo President Aims for 20 Million Switch Units To Be Shipped Next Year
Ambitious, but seemingly possible
Unless you've been living under a video game-deprived rock for the majority of 2017, you'll likely be aware of Nintendo's rather overwhelming success with the Switch. We recently saw that the console has sold 10 million units to consumers in its first nine months on sale, and news of Nintendo ramping up the Switch's...
News We Can't Ignore The Switch, Says Sony's Head Of Corporate Planning
Nintendo's system has "captured consumers' attention"
To say that the Switch is selling incredibly well worldwide would be a massive understatement, but in Japan it is particularly dominant, regularly topping both the hardware and software charts. This isn't lost on Sony, which is Nintendo's only genuine rival in its home region. In an interview...
News Sega Lowers Full Year Forecast Amid Pachinko Performance Problems
Sales and profit predictions both take a dive
Sega has reduced its full year sales and profit forecasts for the current financial year amid struggles in the pachinko industry. Full-year net sales of $3.38bn and profits of $98.1m were originally predicted by the Japanese veteran, but it has now revised these totals to $2.94bn and $44.6m...
News Nintendo Tops Toyo Keizai's List Of Japan's Richest Companies, While Sony Is Fourth
Jump up, Super Star!
Japanese business publication Toyo Keizai has released its list of the 500 richest companies in Japan, and Nintendo has come out on top. Nintendo has a whopping 946 billion Yen in net cash reserves, and is - as we know - currently raking it in thanks to the incredibly successful Switch. Nintendo's closest rival in the video...
News Nintendo Is Ramping Up Switch Production To 25 To 30 Million Units A Year
And it could go higher
The Wall Street Journal is reporting that Nintendo is about to boost Switch production to around 25 to 30 million units in the next fiscal year, which begins in April 2018. The report states that this bump could be even bigger, depending on what happens over the Christmas period. It is said that Nintendo...
News Investment Banking Firm Predicts Switch Will Sell 115.8 Million Units By 2023
23 million consoles expected to sell in the next financial year
Japanese investment banking company Nomura Securities has predicted that the Nintendo Switch will sell 115.8 million units by 2023. This bold prediction comes after a blistering first year on sale, where the hybrid console has confounded expectations across the board. Nomura also...
News Nintendo Switch Sales Are Trending Well Above Wii U, and Could Even Catch the Wii
The Holiday season could make the difference
We're still ploughing through Nintendo's meaty six month financial results briefing, another thing of interest was just how well the Nintendo Switch has performed in sales compared to the Wii U, and of course the original Wii. You don't have to be a rocket scientist to figure out that the Wii U sold...
News Nintendo Gamers Prefer Using Switch As A Handheld Rather Than Docked
Team Portable
Nintendo recently published its latest six month financial results briefing and it makes for quite interesting reading. One thing that stood out to us was the slide revealing the gameplay trends across Japan, the US and Europe in regards to how people actually use the Switch. Predictably a large number of consumers use the...
News These Are The Nintendo Switch's Million-Selling Games
Zelda! Mario Kart! Splatoon! ARMS!
Nintendo's latest financial report reveals the first-party titles which have cleared a million in sales so far. Unsurprisingly, critically-acclaimed launch title The Legend of Zelda: Breath of the Wild leads the charge, with 4.70 million copies sold since March. Fellow launch title 1-2-Switch didn't do quite...
News Nintendo's Share Value Soars As Switch Is Projected To Ship 16.74 Million Units By March
Will outclass Wii U's lifetime sales in just over a year
Nintendo's latest financial results show a company in surprisingly rude health, given that not so long ago the Wii U's dismal performance was the only thing making any headlines. The big news is that Nintendo has adjusted its sales forecast for Switch, and is now expecting to sell 14 million...
News Credit Suisse Forecasts 130 Million Nintendo Switch Sales By 2022
Upgrades Nintendo to "outperform" from "neutral"
Brokerage firm Credit Suisse has updated its sales forecast for the Nintendo Switch and has upgraded Nintendo stock from "neutral" to "outperform". Credit Suisse had previously predicted that the Switch would sell 70 million units by 2022 - a very generous claim - but it has now elevated that...
News Nintendo's 'Quality of Life' Project Lives On
"Our aim is to enable consumers to make daily efforts to improve their QOL"
Way back in 2015 it was suggested that Nintendo's Quality of Life initiative had been put on the back burner following the untimely passing of company president Satoru Iwata. Given that not much has been said about QOL, you'd be forgiven for assuming that Nintendo had...
News Sports Direct Buys 25.75 Percent Stake In Embattled UK Retail Chain GAME
"GAME is pleased that the strategic value of the group has been recognised"
Controversial UK retail chain Sports Direct has purchased a 25.75 percent stake in GAME, the UK's biggest high street video game specialist. Despite its dominant position in the UK video game market, GAME has endured a difficult year. It recently posted a profit warning,...
News Nintendo's Market Capitalisation Overtakes Sony's Following Switch Success
Highest market cap for Nintendo since 2008
The ongoing success of the Switch has seen Nintendo's market capitalisation hit 5.44 trillion yen ($48.9 billion), which sees the Kyoto giant overtake rival Sony for the first time in almost a year. This new market cap figure is the highest posted by Nintendo since October 2008. ...
News New Nikkei Report Accuses Konami Of Blacklisting Past Employees
"If you leave the company, you cannot rely on Konami's name to land a job"
Konami has made plenty of headlines over the past few years, but not always for the right reasons. Following the publisher's acrimonious split from Hideo Kojima - who was responsible for some of the company's biggest games - reports hit the Japanese media of Konami's shameful...
Rumour Nintendo Is Ramping Up Switch Production For This Fiscal Year
Now targeting 18 million consoles before March 2018
The Switch is selling faster than some very hot cakes right now and according to "inside sources" cited by The Financial Times, Nintendo is upping production in an attempt to meet demand. These sources claim that Nintendo is looking to increase production to ensure that those who wish to buy a...
News Sega Is Looking To Revive Some Of Its Past Classics
But which ones will be resurrected?
Sega may be one of the gaming world's biggest third-party publishers but it was once a mover and shaker in the world of hardware and the first company to seriously challenge Nintendo for dominance of the living room. During the '80s and '90s the company produced a string of hits, including Streets of Rage, Sega...
News Nvidia CEO Hails Nintendo Switch As "A Home Run", Is Open To Working On Other Consoles
"It was the perfect collaboration for us"
Nvidia CEO Jen-Hsun Huang has been speaking during a recent investor's Q&A about the Nintendo Switch and its impact on his company's business - which, as we reported this morning, is pretty positive. During the session, Huang was asked if the early success of the Switch will open up the console...
News Nintendo Switch Demand Adds As Much As $192 Million To Nvidia's Bottom Line
Tegra business is on the up-and-up
The success of the Nintendo Switch has had a positive impact on the financial fortunes of Nvidia, which supplies the chipset for the hybrid console. Nvidia's Q1 report for the 2018 fiscal year reports that revenues for its Tegra lines of processors rose to $332m, which is more than double what was seen...
News Nintendo Switch Led Japanese Hardware Sales in April
It prints money!
Nintendo is performing relatively well in Japan at the moment, with healthy sales for the Nintendo Switch in April. Famitsu has revealed the monthly sales data for April (27th March - 30th April) and it turns out that 234,817 Nintendo Switch units have been shifted, according to the magazine's figures. The 3DS is in rude...
News Genyo Takeda Will Continue To Offer Guidance As Special Corporate Adviser To Nintendo
Veteran's "knowledge, experience and personal connections" highly valued
Last week we reported that Genyo Takeda - one of Nintendo's longest-serving and most influential employees - was retiring from his role within the company. We now have the official English translation of the Nintendo Q&A which spawned this news, and can reveal that while...
News Nintendo Using Costly Air Freight To Meet Demand For Switch Faster
Switch on a plane
Since its launch on 3rd March, the Nintendo Switch has been selling like hotcakes with 2.74 million units shifted so far. Naturally Nintendo is keen to keep up this momentum and has made the unprecedented decision to use expensive air freight in order to get the next batch of Switch consoles into customers hands, presumably to make...
News Capcom Wants You To Know That It's Taking The Nintendo Switch Very Seriously
Also has a "major" unannounced title on the way this financial year
Capcom's latest financial presentation contains some pieces of information that should be of considerable interest to Nintendo fans. First up, the company is aiming to push multiplatform development in as big way over the next financial year, and that includes supporting the...
News Nintendo Veteran Genyo Takeda Is Retiring As A Company Director
Ko Shiota gets a promotion
Nintendo has released a notice regarding the impending retirement of 68-year-old Genyo Takeda, Representative Director and "Technology Fellow" of Nintendo. Takeda is one of Nintendo's longest-serving staffers, having joined the company in 1971. He and his team at R&D3 came up with many technical innovations during the...
Rumour Vivendi To "Accelerate Expansion" In Video Games, Ubisoft The Main Target
French giant looking to turn around recent poor results
French media company Vivendi is looking to make some key acquisitions this year to combat investor concerns regarding its recent mixed results, poor share performance and general lack of long-term strategy, according to sources which have spoken to news site Reuters. These sources claim that...
News Kojima-Free Konami Is Doing Just Fine, Thanks Very Much
Profits up a whopping 70 percent
When Hideo Kojima parted company with Konami under a cloud and reports began to appear that the firm didn't have the best track record for staff morale, it seemed as if the veteran publisher was finally planning its escape from the world of AAA video games. However, fast forward to the present and the "new look"...
News Veteran Publisher Majesco Exits The Video Game Business
Merges with a medical tech company, of all things
Video game veteran Majesco has merged with PolarityTE, a company which operates in the medical industry, signalling its exit from the video game arena. Founded in 1986, Majesco has published titles like Cooking Mama, Data East Arcade Classics, Bomberman Generation, BattleBots and BlastWorks on...
News Nintendo Isn't The Only Company Impacted By The Failure Of The Wii U
Semiconductor firm Renesas deals with an unwelcome legacy
Nintendo's recent financial briefing has put the dismal performance of the Wii U into sharp focus. Since its launch in 2012 the console has struggled to attract an audience and has sold just over 13 million units worldwide - a far cry from the performance of its forerunner the Wii, which...
News Nintendo Stock Leaps Following NX Trailer Announcement
$1 billion added to company value
Nintendo's share price has risen following the news that it will reveal its new NX console later today. Shares jumped as much as 4.6 percent at midday in Tokyo, which added more than $1 billion in market value. The company's stock is up more than 50 percent this year, something which is also partly thanks to its...
News Industry Veteran Interplay Puts Its Entire Library Of Properties Up For Sale
He's dead, Jim
Interplay is selling off its entire catalogue of IP, it has been revealed. The veteran firm - which can count Earthworm Jim, Clayfighter and MDK amongst its titles - is offloading "video game assets and intellectual property" which covers some 70 titles. Established in 1983 by Brian Fargo - who now runs inXile Entertainment -...
News Nintendo And DeNA Experience Share Price Jumps In Light Of Super Mario Run Announcement
18 and 21 percent respectively
Yesterday, Nintendo caused quite a stir by confirming Super Mario Run for iOS devices at Apple's yearly conference. Unsurprisingly, the news triggered Nintendo's share price to leap sharply, rising as high as 18 percent before settling down to a still-remarkable 11 percent at the end of the trading day. DeNA - the...
News Nintendo Acquires Japanese Company JESNET To Gain Control Of Product Distribution
Will result in "rapid decision-making and an improvement in sales service"
Nintendo has announced today that it is acquiring distribution company JESNET in a deal worth $47 million. JESNET will become a Nintendo subsidiary next April, and the firm will work closely with video game wholesale firm AJIOKA to assist in bringing Nintendo's products to...
News Major League Baseball Owners Look Set To Approve Seattle Mariners Sale
A home run for Nintendo's bottom line
We reported back in April that Nintendo hoped to sell it's majority stake in the Seattle Mariners. It appears that the sale could close this week which would be great news for Nintendo's bank balance in advance of launching Nintendo NX in March 2017. It's been reported that Major League Baseball owners were set...
News Bowser Rises Up The Ranks At Nintendo Of America
No, not that one
Remember the hilarity when Nintendo of America hired someone called Doug Bowser to be their Vice President of Sales last year? Ah, good times. Joking aside, Doug has a pretty solid track record. As well as working at EA, he was previously employed by Procter & Gamble and has a bachelor's degree in communications from the...
News Lead and Assistant Designers Quit Nintendo Software Technology
The unwanted stepchild of Nintendo development teams
Some of you may be familiar with Nintendo Software Technology, the American studio that Nintendo opened to create games that appealed more to Western markets. Though it was started with the best of intentions, things began to fall apart with the ill-fated Project H.A.M.M.E.R., which seemed to...
News Nintendo Reconfirms March 2017 NX Launch And Quality Of Life Concept Development
NX is a "brand new" concept, as we've been told before
Nintendo has just published its 2016 Annual Report, and tucked away alongside all of the numbers and figures you'll find some interesting titbits about the company's future products. First up is NX, which was once again confirmed as coming in March next year: Nintendo is also devoted to the...
News Scott Moffitt is Leaving Nintendo
Evidently, the departure was amicable
Though it's easy enough to think of Nintendo headquarters as being something akin to the interior of Willy Wonka's Chocolate Factory, the reality is that it is a corporation that's run by a hierarchy just like any other. Scott Moffitt – Executive VP of Sales and Marketing – is a face and name that many...