Nintendo Co. named Shuntaro Furukawa, a relatively young and unknown executive, as its new president after reporting that earnings are well on their way since 2010, after a year of solid turn-slot machine sales.
I will replace Tatsumi Kimishima, a former banker who overseen the debut of the new console, the largest Kyoto-based company, for years. For the fiscal year to next March, Nintendo forecasts a profit of 225 billion yen (2.1 billion US dollars). While this was the largest in eight years, it was below the average estimate of the analysts of 308.6 billion yen. Normally, Nintendo issues conservative manuals, and this is no exception.
Furukawa, 46, joined Nintendo in 1
"We will develop the business to the fullest," said Furukawa at a press conference in Osaka. "I will balance Nintendo's traditions: originality and flexibility."
Furukawa, a graduate of Waseda University, worked for about ten years in Germany, according to the Nikkei. While spending much of his tenure at the firm's accounting office, he assumed responsibility for software development in 2015 and was involved in the development of the switch.
Operating income was 21.1 billion yen in the last quarter, compared to the analysts' average projection of 20.2 billion yen. Nintendo predicts 20 million switch deliveries for the year.
"No other console in recent history offered such a series of blockbusters in the first 12 months after launch," says Serkan Toto, founder of Tokyo-based gaming consultancy Kantan Games Inc. But the switch definitely needs more mega-hit Games in 2018. "
Last year's many blockbuster hits include Zelda, Super Mario, Mario Kart, and Splatoon 2. This raises demand for products such as Nintendo Labo Key to extend switch appeal over first-time users So far, the reception of analysts for the Labo has been mixed.
Nintendo said it sold 63.5 million software titles for the Switch last year, above its estimate of 53 million, and it is expected to reach 100 in the coming year Millions for sale.