Nintendo's new president is Shuntaro Furukawa

27 April, 2018, 00:30 | Author: Grady King
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Furukawa joined Nintendo way back in 1994 and worked in global marketing, serving on the board of the Pokémon arm, which Nintendo part-owns as part of a consortium.

The success of the new device, which can also be used connected to a TV at home, propelled the company to a net profit of JPY 139.6 billion in the past year, up 36.1 percent. Kimishima had been looking for some time to retire and "pass the baton" on to a younger generation.

The 46 year old executive will be taking charge of the company despite his relatively young age and being a somewhat unknown senior executive.

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Nintendo also revealed that the upcoming traditional Pokemon RPG for the Switch will be released in "2018 or later".

In total, Nintendo's total assets have increased to 1663.7 billion yen (£10.7 billion) with operating profits increasing to 177.5 billion yen (£1.1 billion).

Overall, Nintendo and its partners sold 63.51 million Switch games in the first year.

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Meanwhile, the Nintendo 3DS continued to perform strongly with 6.4 million sold, beating out the 5.28 million SNES Classic Edition retro consoles bought during the course of the reporting year.

Games for Switch are still popular despite slower sales. Nintendo typically posts conservative guidance, and this is no exception.

The outlook compared with the 308.72 billion yen average of 21 analyst estimates in a survey by Thomson Reuters I/B/E/S. That will equate to some 20 million Switches sold come March 2019, if Nintendo's predictions are correct. Finally, Nintendo's mobile games business, which now has Super Mario Run, Fire Emblem Heroes, and Animal Crossing Pocket Camp, saw a 64% year-on-year rise to 39.3 billion yen (£25 million). Now as a member of management with Super Mario's creator Shigeru Miyamoto, I have a lot of respect for him. He also pledged to "say what needs to be said to run the company" despite his fandom.

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