Nintendo is reviving its forecasts for the 2020/21 fiscal year

TOKYO (awp / dpa) – Japanese video game pioneer Nintendo on Monday revived its forecasts for fiscal year 2020/21, confirming the shape of its operation after the third quarter, boosted by epidemic-imposed home lifestyles.

For its full fiscal year ending March 31, Nintendo expects a net profit of 400 billion yen (or 3.41 billion Swiss francs), up 55% year-on-year.

In the previous quarter, Nintendo raised its 2020/21 forecast for the first time to 300 billion yen, an amount already surpassed by 376.7 billion yen (ப 3 billion) in the first nine months of the year, up 91.8% year-on-year.

The Kyoto-based giant (western Japan) forecasts operating profit of 560 billion yen (4 4.4 billion) in 2020/21, up from 450 billion previously, meaning a 59% increase in one year.

In the first nine months of its fiscal year, Nintendo already had an operating profit of 521.1 billion yen (1 4.1 billion) a year (+ 98.2%).

Thanks to solid sales of video games such as its switch console, the group now expects annual revenue of 1.6 trillion yen (12.6 billion euros), a 22% increase in a year.

Its sales have already reached 1404.5 billion yen (11.1 billion euros) in the first nine months, up 37.3% year-on-year.

afp / ck