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    Japan’s Nintendo profits jump as its game sales get a boost from the hit Super Mario movie

    By SHOOTUpdated:No Comments603 Views
    A Nintendo sign is seen outside Nintendo's official store in the Shibuya district of Tokyo, Thursday, Jan. 23, 2020. Nintendo reported an 18% rise in net profit for the first fiscal half on Tuesday, Nov. 7, 2023, as sales continued to get a boost from its hit Super Mario movie, as well as the popularity of various new video game software.(AP Photo/Jae C. Hong)

    By Yuri Kageyama, Business Writer

    TOKYO (AP) --

    Nintendo reported an 18% rise in net profit for its first fiscal half on Tuesday, as sales continued to get a boost from its hit Super Mario movie, and the popularity of its software for various new video games.

    April-September profit at Nintendo Co., which didn't break down quarterly results, totaled nearly 271.3 billion yen ($1.8 billion), up from 230 billion yen a year earlier. Sales surged 21% to 796 billion yen ($5.3 billion).

    Demand remained strong for Nintendo Switch game software, which got a healthy lift from the film starring the jumping plumber, "The Super Mario Bros. Movie."

    Among the games that sold well as a result of the film was "Mario Kart 8 Deluxe," which sold 3.2 million units during the period, for cumulative sales of 57 million games, Nintendo said.

    This year's Super Mario movie is one of the top-selling animation films on record, second only to "Frozen II," and the top animation film based on a video game.

    Also helping lift results was the popularity of "The Legend of Zelda: Tears of the Kingdom" game, released in May. The latest in the hit action-adventure series, it sold 19.5 million units worldwide.

    Hardware sales climbed to 6.84 million machines, including various Switch models, from 6.68 million the previous year, for total cumulative sales of 132.5 million.

    Nintendo expects to sell 15 million machines for the fiscal year through March 2024, including sales over the crucial Christmas and New Year's shopping season.

    Ahead of the holidays, Nintendo is planning to release the "Super Mario RPG" game software and Pokemon games.

    Nintendo's software sales grew in the fiscal half to 97 million games from 95 million.

    Also popular in its recent game lineup was "Pikimin 4," which went on sale in July. Nintendo is urging every household to buy several Switch consoles, not just one, so family and friends can play together.

    Nintendo, based in Kyoto, started selling "Super Mario Bros. Wonder" last month, as the first totally new Super Mario series game played in side-scrolling mode in more than a decade.

    It's hoping to get a boost from other software makers releasing games for Nintendo machines. "We will work to invigorate the platform by supplementing existing titles with a continuous stream of new titles and add-on content," said Nintendo.

    Nintendo raised its full fiscal year profit forecast to 420 billion yen ($2.8 billion) from the 340 billion yen ($2.3 billion) estimate it gave in May. The new projection is still 3% lower than what was recorded the previous fiscal year, when at-home entertainment companies like Nintendo benefited from people staying home during the COVID-19 pandemic.

    The weak yen, which boosts the overseas earnings of Japanese exporters, is another plus for a company like Nintendo. It said it's expecting the U.S. dollar to trade at 140 Japanese yen, up from 130 yen. The U.S. dollar has recently been trading at about 150 yen.

    Tags:NintendoSuper Mario



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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