1、Financial Results Explanatory Material3rdQuarter of Fiscal Year Ending March 2025Nintendo Co.,Ltd.February 4,202511.Consolidated Financial Results and Outlook 2Consolidated Financial HighlightsFY24/Q1-Q3FY25/Q1-Q3ComparisonNet sales1,394.7bn yen956.2bn yen-31.4%Operating profit464.4bn yen247.5bn yen

2、-46.7%Operating profit ratio33.3%25.9%-7.4pt.Ordinary profit567.3bn yen327.1bn yen-42.3%Net profit408.0bn yen237.1bn yen-41.9%Net profit ratio29.3%24.8%-4.5pt.Net profit:Profit attributable to owners of parent FY=Fiscal YearFY25/Q1-Q3 indicates the period between April 1,2024 and December 31,2024.3C

3、onsolidated SalesFY24/Q1-Q3FY25/Q1-Q3ComparisonNet sales1,394.7bn yen956.2bn yen-31.4%Dedicated video game platform*11,310.9bn yen895.5bn yen-31.7%Mobile,IP related income,etc.*275.2bn yen49.7bn yen-33.9%Others*38.5bn yen10.9bn yen+27.6%*1 Includes hardware,software(including downloadable versions o

4、fpackaged software,download-only software,add-on content,and Nintendo Switch Online)and accessories.*2 Includes income from visual content,smart-device content and royalties.*3 Includes merchandise sales at official stores such as Nintendo TOKYO as well as playing cards.Effect of changes in foreign

5、exchange rateson net sales:+43.7 billion yen23.5%43.6%25.3%7.6%FY25/Q1-Q3 Regional Sales RatioJapanThe AmericasEuropeOtherProportion of sales outside Japan:76.5%4Gross ProfitMain Variable FactorsFY24/Q1-Q3FY25/Q1-Q3ComparisonProportion of hardware sales*145.0%46.1%+1.1pt.Proportion of first-party so

6、ftware sales*282.5%73.4%-9.1pt.Proportion of digital sales*248.1%51.0%+2.9pt.Average exchange rate1 USD1 Euro143.22155.26yenyen152.45164.70yenyen+9.23+9.44yenyen*1 Proportion of sales to total dedicated video game platform sales*2 Proportion of sales to total dedicated video game platform software s

7、alesFY24/Q1-Q3FY25/Q1-Q3ComparisonGross profit778.2bn yen565.5bn yen-27.3%Gross profit ratio55.8%59.1%+3.3pt.5FY24/Q1-Q3FY25/Q1-Q3ComparisonSG&A expenses313.8bn yen317.9bn yen+1.3%SG&A expenses-to-sales ratio22.5%33.2%+10.7pt.Operating profit464.4bn yen247.5bn yen-46.7%Operating profit ratio33.3%25.

8、9%-7.4pt.SG&A expenses:Selling,general and administrative expensesEffect of changes in foreign exchange rates on operating profit:approx.+3.5 billion yenFY24/Q1-Q3FY25/Q1-Q3ComparisonResearch and development expenses92.3bn yen104.7bn yen+13.4%Advertising expenses83.7bn yen68.8bn yen-17.8%Selling,Gen

9、eral and Administrative Expenses/Operating Profit6Ordinary Profit and Net ProfitFY24/Q1-Q3FY25/Q1-Q3ComparisonNon-operating income103.2bn yen79.9bn yen-22.6%included foreign exchange gains34.2bn yen6.2bn yen-81.8%Non-operating expenses0.3bn yen0.4bn yen+22.3%Ordinary profit567.3bn yen327.1bn yen-42.

10、3%Net profit408.0bn yen237.1bn yen-41.9%Net profit ratio29.3%24.8%-4.5pt.7Exchange rateFY24(3/31/2024)FY25/Q3(12/31/2024)Comparison1 USD1 Euro151.34163.31yenyen156.80162.90yenyen+5.46-0.41yenyen8Previous ForecastModified ForecastComparisonNet sales1,280.0bn yen1,190.0bn yen-7.0%Operating profit360.0

11、bn yen280.0bn yen-22.2%Ordinary profit420.0bn yen370.0bn yen-11.9%Net profit300.0bn yen270.0bn yen-10.0%Assumed exchange rate For FY25:USD has been revised from 1USD=140 yen to 150 yen,Euros remains 1 Euro=155 yenDividendPrevious ForecastModified ForecastComparisonAnnual129yen116yen-13yenNintendo Sw

12、itchPrevious ForecastModified ForecastComparisonHardware12.50mil units11.00mil units-12.0%Software160.00mil units150.00mil units-6.3%The modified FY25 software sales unit forecast includes software bundled with other products during the nine months ended December 31,2024(approx.2.82 million units)bu

13、t does not include software to be bundled with other products January 1,2025 onwards.Consolidated Financial ForecastWe have modified the consolidated earnings forecast(issued on November 5,2024)on February 4,2025.2.Business Highlights9Sales Status of Nintendo Switch(Sell-In)Number of Million-Seller

14、Titles(FY25)19titles(12 Nintendo titles and 7 titles by other software publishers)FY24/Q1-Q3FY25/Q1-Q3ComparisonHardware13.74mil units9.54mil units-30.6%Nintendo Switch3.40mil units2.74mil units-19.4%Nintendo Switch OLED Model8.17mil units5.07mil units-37.9%Nintendo Switch Lite2.18mil units1.73mil u

15、nits-20.5%Software163.95mil units123.98mil units-24.4%102.15 0.46 0.53 0.73 1.48 1.27 0.34 0.33 0.64 0.76 3.48 1.15 1.24 1.26 2.57 66.87 mil 35.72 mil 30.64 mil 39.64 mil 53.70 mil 02040608002468FY24/Q3FY24/Q4FY25/Q1FY25/Q2FY25/Q3Quarterly Unit Sales TrendsNintendo SwitchNintendo Switch LiteNintendo

16、 Switch OLED ModelSoftware(mil units)(mil units)6.90 mil1.96 mil2.10 mil2.63 mil4.82 milSuper Mario Party JamboreeMario Kart 8 Deluxe6.17 million units5.38 million unitsThe Legend of Zelda:Echoes of WisdomNintendo Switch Sports3.91 million units2.63 million unitsNintendo Switch:Hardware Sell-Through

17、 and Annual Playing UsersAnnual Playing UsersJanDec2023Global Sell-Through(Total for April-December)JanDec2022JanDec2021JanDec2020JanDec 2018Nintendo estimatesNintendo Switch sell-through declined year-on-year,but even in its eighth year it is still being purchased by many peopleThe number of annual

18、 playing users remains above 100 million11Nintendo SwitchNintendo Switch LiteNintendo Switch OLED ModelFY2018FY2019FY2020FY2021FY2022FY2023FY2024JanDec2019FY2025JanDec2024129M127M101M81M50M31M117MNintendo Switch First-Party Software Sell-ThroughA wide variety of evergreen titles released to date for

19、 Nintendo Switch show steady sell-through and contribute to the cumulative salesNew titles sold well throughout the holiday seasonNintendo estimates12Global First-Party Software Sell-Through(Total for April through December)FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025Released September 26

20、,20243.4MReleased October 17,20245.6MReleasedNovember 7,20241.4MComparative Sell-Through of Mario Party Series Titles5.6M unitsGlobal Cumulative Sell-Through in 11 Weeks After ReleaseNintendo estimates13Released October 5,2018Released October 29,2021Digital SalesFY24/Q1-Q3FY25/Q1-Q3ComparisonDigital

21、 sales*1346.4bn yen245.8bn yen-29.0%Proportion of digital sales*248.1%51.0%+2.9pt.*1 Sales of downloadable versions of packaged software,download-only software,add-on content and Nintendo Switch Online,etc.*2 Proportion to total dedicated video game platform software sales1465.842.134.034.548.162.95

22、4.746.744.637.744.9%59.5%58.9%53.9%43.4%0%10%20%30%40%50%60%70%020406080100120140FY24/Q3FY24/Q4FY25/Q1FY25/Q2FY25/Q3Quarterly Digital Sales Trends(bn yen)Download-only software,add-on content,and Nintendo Switch Online,etc.Downloadable versions of packaged softwareProportion of digital sales128.8 bn

23、96.9 bn80.7 bn79.2 bn85.9 bnFirst-Party Titles Set for Release in 202515January 16,2025March 20,202520252025Nintendo Switch 2 to be released in 202517Nintendo Switch 217Nintendo Direct will air on April 2Nintendo Switch 2 Experience events will be held in various cities worldwide starting in April18

24、Examples of Initiatives to Expand the Number of People Who Have Access to Nintendo IPThe new Donkey Kong Country area of SUPER NINTENDO WORLD at Universal Studios Japan opened on December 11,202419Examples of Initiatives to Expand the Number of People Who Have Access to Nintendo IPSUPER NINTENDO WOR

25、LD will open at Universal Epic Universe(Orlando,USA),which is scheduled to open on May 22,20253.Reference Materials20Sales Breakdown(by Region)million yenFY25/Q1-Q3Dedicated video game platformof which Nintendo Switch platform(*1)of which the others(*2)Mobile,IP related income,etc.(*3)Other(*4)FY24/

26、Q1-Q3Dedicated video game platformof which Nintendo Switch platform(*1)of which the others(*2)Mobile,IP related income,etc.(*3)Other(*4)*1Nintendo Switch platform includes hardware,software(including downloadable versions of packagedsoftware,download-only software,add-on content and Nintendo Switch

27、Online)and accessories.*2Includes platforms other than Nintendo Switch and also amiibo.*3Includes income from visual content,smart-device content and royalties.*4Includes merchandise sales at official stores such as Nintendo TOKYO as well as playing cards.Supplementary Informationmillion yenDeprecia

28、tion of property,plant and equipmentResearch and development expensesAdvertising expensesAverage exchange rate1 USD=1 Euro=Consolidated net sales in U.S.dollarsConsolidated net sales in EurosNon-consolidated purchases in U.S.dollarsBalance of Major Assets and Liablities in Foreign Currencies held by

29、 Nintendo Co.,Ltd.(Japan)million U.S.dollars/EurosUSDCash and depositsAccounts receivable-tradeAccounts payable-tradeEuroCash and depositsAccounts receivable-tradeBalanceBalanceAssumed Exchange RateExchange rateExchange Rate1 USD=150.00 yen1 Euro=155.00 yen2,307391208201 1 Euro=163.31 yen1762811711

30、Euro=162.90 yen2,1713341 USD=151.34 yen1,1141 USD=156.80 yen75,2486698,561297,264611,766349,108136,656FY25(Forecast)JapanThe AmericasEurope242,39418,3698,801TotalTotalDecember 31,2024March 31,202451,5675,1081,30210,000145,00090,000956,218OtherTotal17,269259,590554,436895,523871,613JapanThe AmericasE

31、uropeOtherTotal70,391344,000134,6841,310,987388,242382,1076,13471,389197,503182,80214,700224,67427,0951,557416,894238,389236,312340,199132,1791,286,40623,91049,77210,921997949-8472,2542,0773,357647273,813558,488(Forecast)March 31,20257,221104,77268,859152.45 yen1,394,79624,5801.4 billion3.2 billion2

32、.2 billion2.8 billion4.0 billion-6,1811,71014,2224,0513,8002,505-2.5 billion143.22 yen155.26 yenFY25/Q1-Q3164.70 yen151.84 yen162.27 yenFY24/Q1-Q35,19392,36583,766Ni n t e n do Co.,Lt d.21Digital Sales billion yenNotes Digital Sales:Includes(a)downloadable version of packaged software(the downloadab

33、le version ofsoftware that is offered both physically and digitally),(b)download-only software,(c)add-oncontent and(d)Nintendo Switch Online,etc.Proportion of Digital Sales:Proportion of digital sales to total dedicated video game platformsoftware salesProportion of Downloadable Versions of Packaged

34、 Software Sales:Proportion of downloadableversions of packaged software sales to total digital sales=a/(a+b+c+d)Key IndicatorsNotes Proportion of Sales Outside of Japan:Proportion of sales outside of Japan to total salesProportion of Hardware Sales:Proportion of hardware(including accessories)sales

35、to totaldedicated video game platform salesProportion of First-Party Software Sales:Proportion of first-party software sales to total dedicatedvideo game platform software sales78.3%43.6%81.2%78.3%41.1%82.4%78.7%45.0%82.5%50.0%36.6%88.8%72.1%82.6%74.9%80.0%76.0%79.2%76.4%40.9%41.5%Q3Q4Q1Q2Q3Q4Q1Q2Q3

36、Q4Q1Q274.2%75.2%78.6%40.2%FY24FY24FY2474.7%41.4%69.5%76.5%46.1%73.4%42.6%51.7%73.2%66.3%78.0%FY25FY25FY25Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4443.350.2%51.5%Proportion of SalesProportion of Hardware Sales Proportion of First-PartyOutside of JapanSoftware Sales217.550.2%55.2%346.448.1%53.7%44.9%59.5%64.5%43.8%51.

37、1%43.5%119.697.9128.896.947.3%54.2%Q3Q4Q1Q2Q3Q4Q1Q2Q3Q4Q1Q2FY24FY24FY24159.956.3%42.9%245.851.0%47.5%43.4%42.2%43.6%56.1%80.779.285.958.9%53.9%Proportion of DownloadableDigital SalesProportion of Digital SalesVersions of PackagedQ3Q4Q1Q2Q3Q4Software SalesFY25FY25FY25Q1Q2Q3Q4Q1Q2Ni n t e n do Co.,Lt

38、d.22Sales Units and Sales Units Forecastunits in ten thousandsNintendo SwitchJapanHardware(Total)The AmericasEuropeOtherTotalof which Nintendo SwitchJapanThe AmericasEuropeOtherTotalof which Nintendo SwitchJapan OLED ModelThe AmericasEuropeOtherTotalof which Nintendo Switch LiteJapanThe AmericasEuro

39、peOtherTotalSoftwareJapanThe AmericasEuropeOtherTotalNotes Software sales units include both packaged and downloadable versions of software,and do not include download-only software or add-on content.Actual software sales units include the quantity bundled with hardware or other products.Forecasted

40、software sales units includes software bundled with other products during the ninemonths ended December 31,2024 but does not included software to be bundled with otherproducts January 1,2025 onwards.16,39512,398135,98015,0004,7703,75839,5901,51786310,6033,2582,68826,6816,8505,08859,1061281592181732,

41、527103681,12939355608175072,9416462679201124692123764452581709202351378832471,1183402749,6181461263,770117922,6471,37495415,0861,10053492,0833562513,900159921,7223742813,6824853305,783FY24/Q1-Q3 FY25/Q1-Q3 Life-to-dateForecastFY25Ni n t e n do Co.,Lt d.23Million-Seller Nintendo First-Party Titlesuni

42、ts in ten thousandsSuper Mario Party JamboreeMario Kart 8 DeluxeThe Legend of Zelda:Echoes of WisdomNintendo Switch SportsAnimal Crossing:New HorizonsSuper Mario Bros.WonderPaper Mario:The Thousand-Year DoorMario&Luigi:BrothershipLuigis Mansion 2 HDSuper Smash Bros.UltimatePokmon Scarlet/Pokmon Viol

43、etSUPER MARIO ODYSSEYNotes Software sales units include those bundled with hardware or other products and downloadableversions of packaged software.Launch Dates of Primary Nintendo Products(April through December 2024)(Software)Endless Ocean LuminousPaper Mario:The Thousand-Year DoorLuigis Mansion 2

44、 HDNintendo World Championships:NES EditionEmio The Smiling Man:Famicom Detective ClubThe Legend of Zelda:Echoes of WisdomSuper Mario Party JamboreeMario&Luigi:BrothershipFitness Boxing 3:Your Personal Trainer*OtherNintendo Sound Clock:AlarmoNoteRelease dates may differ by region.Please refer to the

45、 offical site of each region for further details.*This title is licensed to be released and sold as a Nintendo product in select regions outside of Japan.Launch Schedule of Primary Nintendo Products(extracts:January 2025 onwards)(Software)Donkey Kong Country Returns HDXenoblade Chronicles X:Definiti

46、ve EditionPokmon Legends:Z-AMetroid Prime 4:BeyondNintendo Switch 2(Hardware)Nintendo Switch 2Notes Launch dates and titles etc.are subject to change.Release dates may differ by region.Please refer to the offical site of each region for further details.Release Date202561716445361720644206162Nintendo

47、 SwitchRelease Date20251/16/202520253/20/2025Life-to-dateFY25/Q1-Q3Nintendo Switch1,574GlobalJapanOutside ofJapanGlobal72319220263391391538477Nintendo SwitchRelease Date5/2/20245/23/202412/5/20246/27/20247/18/20248/29/202410/9/20249/26/202410/17/202411/7/2024Release Date14610961532540141801663245432

48、0820718429155182106956,7354,7441,5512,6382,9041801491213,588155184Ni n t e n do Co.,Lt d.24Supplementary Information on Our WebsiteEarnings Releases,etc.Earning ReleasesTimely Disclosure of Information,etc.Financial Results Announcement/IR EventsCorporate Management Policy Briefing Presentation Mate

49、rialsFinancial Results Explanatory Materials,etc.Financial HighlightsConsolidated Statements of Income(Annual/Quarterly)Consolidated Balance Sheet(Annual/Quarterly)Consolidated Cash Flows(Annual)Key Figures per Share(Annual)Geographical Sales Breakdown(Annual/Quarterly)Sales Breakdown by Category(An

50、nual/Quarterly)Dedicated Video Game Sales UnitsTotal Unit Sales(Life-to-date)Unit Sales(Annual/Quarterly)Number of Titles Released(Annual)Top Selling Title Sales UnitsTop selling Nintendo software sales units on an accumulated basisHistorical Data(Updated at fiscal year-end)Consolidated Statements o

51、f Income TransitionConsolidated Sales Transition by RegionNumber of Software Titles ReleasedUpcoming Software Title Lineup(Japan/United States/Europe)Upcoming Software Publishers Title LineupNotes Corresponding pages on our website can be accessed by clicking on the titles above.Financial Highlights will be updated within 2 business days of our financial announcement.Ni n t e n do Co.,Lt d.25