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Nintendo's profits fell 9% year-on-year in its fiscal year


Nintendo's 2023 fiscal year profit fell 9% year-on-year to 432.7 billion yen, higher than expectations of 370 billion yen, CNBC reported.
The company's revenue for its fiscal year ending March 31, 2022 fell 5.5% year-on-year to 1.6 trillion yen.
The company's revenues were affected by a 22% decline in sales of its popular Switch device during the fiscal year, to 17.97 million units, compared to expectations that it would sell 18 million units, down by 22% year-on-year from 23 million units.