CONSOLIDATED FINANCIAL STATEMENTS
May 10, 2022
Nintendo Co., Ltd.
1
1-1 Hokotate-cho, Kamitoba,
Minami-ku, Kyoto 601-8501
Japan
(Amounts below one million yen are rounded down)
Consolidated Results for the Years Ended March 31
,
2021 and 2022
(1) Consolidated operating results
Net sales Operating profit Ordinary profit
million yen % million yen % million yen % million yen %
Year ended March 31, 2022
Year ended March 31, 2021
[Notes]
Percentages for net sales, operating profit etc. show increase (decrease) from the previous fiscal year.
Comprehensive income: Year ended March 31, 2022: 530,498 million yen [0.5%] Year ended March 31, 2021: 527,951 million yen [123.2%]
Profit per share
Diluted profit
per share
Return on equity
yen yen % % %
Year ended March 31, 2022
Year ended March 31, 2021
[Reference]
Share of profit of entities accounted for using equity method: Year ended March 31, 2022: 26,672 million yen Year ended March 31, 2021: 6,564 million yen
(2) Consolidated financial positions
Total assets Net assets
% y
e
n
As of March 31, 2022
As of March 31, 2021
[Reference]
Shareholders equity: As of March 31, 2022: 2,069,043 million yen As of March 31, 2021: 1,874,371 million yen
(3) Consolidated cash flows
Cash and cash
e
q
uivalents - endin
g
Year ended March 31, 2022
Year ended March 31, 2021
Dividends
yen yen yen % %
[Notes]
4,032.60 - 28.1 31.0 36.4
Capital adequacy ratio
Net assets per share
480,376 85.7
Ordinary profit
on total assets
Operating profit
to net sales
4,046.69 - 24.2 26.3 35.0
1,758,910 34.4 640,634 81.8 678,996 88.4
Profit attributable
to owners of parent
1,695,344 (3.6) 592,760 (7.5) 670,813 (1.2) 477,691 (0.6)
2,446,918 1,874,614 76.6 15,734.79
Cash flows from
operating activities
Cash flows from
investing activities
Cash flows from
financing activities
million yen million yen
2,662,384 2,069,310 77.7 17,635.60
932,079
Dividend per share
Dividends in total
(annual)
Dividend payout ratio
(consolidated basis)
Dividends on net assets
(consolidated basis)
End of 2nd quarter
Year-end
million yen million yen million yen million yen
289,661 93,699 (337,010) 1,022,718
Annual
million yen
Year ended March 31, 2021
810.00 1,410.00 2,220.00 264,453
612,106 (136,533) (194,938)
55.1 15.5
Year ended March 31, 2022
620.00 1,410.00 2,030.00 238,163 50.2 12.2
Year ending March 31, 2023
(forecast)*
--- -
*A 10-for-1 split of the Company’s common stock is scheduled to take effect on October 1, 2022. Dividends are paid twice per year, following the end of the second quarter and
at the fiscal year-end based on profit levels achieved in each fiscal year, in accordance with our basic policy of profit distribution and dividends described on page 4. The
dividend forecast for the fiscal year ending March 31, 2023 is undecided at this point in time, and will be announced at the timing of the 2023 fiscal year second quarter earnings
release. For details, please refer to “Notification of Common Stock Split and Partial Amendment to the Articles of Incorporation and Change in the Dividend Policy due to Stock
Split” released today.
Nintendo Co., Ltd.
Consolidated Financial Forecast for the Fiscal Year Ending March 31, 2023
% % % % yen
Year ending March 31, 2023
[Notes]
Percentages for net sales, operating profit etc. show increase (decrease) from the previous fiscal year.
With respect to the impact of COVID-19, please refer to "2. Outlook for the Fiscal Year Ending March 31, 2023" on page 4.
Profit per share takes into account the effect of the stock split described in the notes of "Dividends".
Others
(1) Changes for important subsidiaries during the fiscal year ended March 31, 2022
: Not applicable
(2) Changes in accounting procedures:
1) Related to accounting standard revisions etc.
: Applicable
2) Other changes
: Not applicable
3) Changes in accounting estimates
: Not applicable
4) Modified restatements
: Not applicable
(3) Outstanding shares (common shares)
1) Number of shares outstanding (including treasury shares)
As of Mar. 31, 2022 : 129,869,000 shares As of Mar. 31, 2021 : 131,669,000 shares
2) Number of treasury shares
As of Mar. 31, 2022 : 12,547,022 shares As of Mar. 31, 2021 : 12,546,233 shares
3) Average number of shares
Year ended Mar. 31, 2022 : 118,044,880 shares Year ended Mar. 31, 2021 : 119,123,333 shares
(
Reference
)
Non-consolidated Results
Non-consolidated Results for the Years Ended March 31, 2021 and 2022
(1) Non-consolidated operating results
Net sales Operating profit Ordinary profit Profit
million yen % million yen % million yen % million yen %
Year ended March 31, 2022
Year ended March 31, 2021
[Note] Percentages for net sales, operating profit etc. show increase (decrease) from the last fiscal year.
Profit per share Diluted Profit per share
yen yen
Year ended March 31, 2022
Year ended March 31, 2021
(2) Non-consolidated financial positions
Total assets Net assets
Capital adequacy
ratio
Net assets per share
% yen
As of March 31, 2022
As of March 31, 2021
[Reference]
Shareholders equity: As of March 31, 2022: 1,410,447 million yen As of March 31, 2021: 1,281,948 million yen
[Note]
1. This earnings release report is not subject to audit by certified public accountant or audit firm.
Net sales Operating profit Ordinary profit
(28.4) 340,000 289.80
Profit attributable to
owners of parent
million yen million yen million yen million yen
Profit per share
1,600,000 (5.6) 500,000 (15.6) 480,000
93.5 403,339 91.3
1,437,831 (2.1) 499,525 (7.5) 629,958 9.9 462,509
3,918.08 -
3,385.90 -
(28.8)
2. Forecasts announced by the Company (Nintendo Co., Ltd.) referred to above were prepared based on management's assumptions with information available at this time and
therefore involve known and unknown risks and uncertainties. Please note such risks and uncertainties may cause the actual results to be materially different from the forecasts
(earnings forecast, dividend forecast, and other forecasts). For details, please refer to "2. Outlook for the Fiscal Year Ending March 31, 2023" on page 4.
1,765,683 1,281,948 72.6 10,761.57
million yen million yen
1,857,584 1,410,447 75.9 12,022.02
14.7
1,468,563 36.4 540,217 80.0 573,057
Nintendo Co., Ltd.
Description of Operating Results
1. Operating Results and Financial Positions for the Fiscal Year Ended March 31, 2022
(1) Operating Results and Financial State for the Fiscal Year Ended March 31, 2022
The Nintendo Switch business this fiscal year (April 2021 to March 2022) saw the October 2021 launch of Nintendo Switch –
OLED Model and strong hardware sales in each region. Growth in sales of Nintendo Switch, Nintendo Switch – OLED Model and
Nintendo Switch Lite demonstrated a good balance between each of the three individual models, and as a result of stable
performance among the overall hardware lineup, final sales totaled 23.06 million units. Whereas the March 2020 release of Animal
Crossing: New Horizons was a major driver of hardware sales last fiscal year, sales this fiscal year were affected by shortages of
semiconductor components and other parts, resulting in a 20.0% decrease year-on-year.
Looking at software, among titles released this period, Pokémon Brilliant Diamond and Pokémon Shining Pearl sold a combined
14.65 million units and Pokémon Legends: Arceus sold 12.64 million units, marking sales of more than 10 million units for each.
In addition, Mario Party Superstars sold 6.88 million units, and The Legend of Zelda: Skyward Sword HD sold 3.91 million units.
Titles released in previous fiscal years also continued to perform well, with Mario Kart 8 Deluxe selling 9.94 million units (for
cumulative sales of 45.33 million units) and Animal Crossing: New Horizons selling 6.01 million units (for cumulative sales of
38.64 million units). Sales of titles from other software publishers grew as well, and when combined with those published by
Nintendo, a total of 39 titles sold over one million units during this period. As a result, software sales grew 1.8% year-on-year to
235.07 million units, making it the highest annual software sales figure ever posted for a Nintendo platform to date.
Turning to the dedicated video game platform digital business, sales were strong for Nintendo Switch downloadable versions of
packaged software. Sales also grew for add-on content, including Animal Crossing: New Horizons – Happy Home Paradise and
Mario Kart 8 Deluxe – Booster Course Pack. In addition, sales of download-only titles and sales related to Nintendo Switch Online
also performed well, contributing to digital sales of 359.6 billion yen (an increase of 4.5% year-on-year).
For the mobile business, many consumers continued to enjoy our applications, and combined with a steady stream of royalty
income, the resulting mobile and IP related income totaled 53.3 billion yen (a decrease of 6.5% year-on-year).
As a result, net sales reached 1,695.3 billion yen, with overseas sales of 1,336.4 billion yen accounting for 78.8% of the total.
Operating profit came to 592.7 billion yen, ordinary profit was 670.8 billion yen, and profit attributable to owners of parent totaled
477.6 billion yen.
(2) F
inancial positions as of March 31, 2022
Total assets increased by 215.4 billion yen compared to the prior fiscal year-end to 2,662.3 billion yen mainly due to an increase
in inventories and investment securities. Total liabilities increased by 20.7 billion yen compared to the prior fiscal year-end to
593.0 billion yen mainly due to an increase in notes and accounts payable-trade despite a decrease in taxes payable. Net assets
increased by 194.6 billion yen compared to the prior fiscal year-end to 2,069.3 billion yen.
(3) Cash f
lows for the fiscal year ended March 31, 2022
The ending balance of “Cash and cash equivalents” (collectively, “Cash”) as of March 31, 2022 was 1,022.7 billion yen, with
an
increase of 90.6 billion yen during the fiscal year. During the prior fiscal year, there was an increase of 310.6 billion yen. Net
increase (decrease) of Cash and contributing factors during the fiscal year ended March 31, 2022 are as follows:
Net cash provided by (used in) operating activities:
There were decreasing factors contributing to 674.3 billion yen of profit before income taxes such as payment of income taxes
and an increase in inventories. However, due to increasing factors such as an increase in trade payables, net cash resulted in an
increase of 289.6 billion yen compared to an increase of 612.1 billion yen during the prior year.
Net cash provided by (used in) investing activities:
Net cash from investing activities increased by 93.6 billion yen compared to a decrease of 136.5 billion during the prior year
mainly due to proceeds from withdrawal of time deposits and sales and redemption of short-term and long-term investment
securities being higher than payments into time deposits and purchase of short-term and long-term investment securities.
Net cash provided by (used in) financing activities:
Net cash from financing activities decreased by 337.0 billion yen compared to a decrease of 194.9 billion yen during the prior
year mainly due to payments of cash dividends.
Nintendo Co., Ltd.
2. Outlook for the Fiscal Year Ending March 31, 2023
3. Basic Policy of Profit Distribution and Dividends
Basic Policy on the Selection of Accounting Standards
It is the Company’s basic policy to internally provide the capital necessary to fund future growth, including capital investments,
and to maintain a strong and liquid financial position in preparation for changes in the business environment and intensified
competition. As for direct profit returns to our shareholders, dividends are paid based on profit levels achieved in each fiscalperiod.
The annual dividend per share will be established at the higher of the amount calculated by dividing 33% of consolidated
operating profit by the total number of outstanding shares, excluding treasury shares, as of the end of the fiscal year rounded up to
the 10 yen digit, and the amount calculated based on the 50% consolidated profit standard rounded up to the 10 yen digit.
The end of 2nd quarter (interim) dividend per share is calculated by dividing 33% of consolidated operating profit by the total
number of outstanding shares, excluding treasury shares, as of the end of the six-month period rounded up to the 10 yen digit.
As a result, the dividend for the fiscal year ended March 31, 2022 has been established at 2,030 yen (interim: 620 yen, year-end:
1,410 yen).
A 10-for-1 split of the Company’s common stock is scheduled to take effect on October 1, 2022. The Company has not
announced a dividend forecast for the next fiscal year. The dividend policy will be changed in accordance with the stock split.
However, this change is an adjustment due to the stock split, and there will be no substantive change in comparison with the
existing policy. The revised policy will be applied starting with the year-end dividend for the fiscal year ending March 31, 2023, as
it is the first dividend to which the shares are subject to after the stock split. For details, please refer to “Notification of Common
Stock Split and Partial Amendment to the Articles of Incorporation and Change in the Dividend Policy due to Stock Split” released
today.
Retained earnings are maintained for effective use in research of new technology and development of new products and services,
capital investments and securing materials, enhancement of selling power including advertisements, strengthening of network
infrastructure, and treasury share buyback whenever deemed appropriate
.
Regarding Nintendo Switch, we will continue to convey the appeal of all three hardware models to maintain a high level of sales
momentum and expand the install base. As for software, along with the release of Nintendo Switch Sports in April, we have
planned the global releases of Xenoblade 3 (July) and Splatoon 3 (September). In addition, the latest entries in the Pokémon series,
Pokémon Scarlet and Pokémon Violet, are slated for release in late 2022. Other software publishers also plan to release a wide
variety of titles, and we will work to strengthen sales through the combination of existing popular titles and a continuous stream of
new titles.
Through these initiatives, we expect to see results of 1,600.0 billion yen in net sales, 500.0 billion yen in operating profit, 480.0
billion yen in ordinary profit, and 340.0 billion yen in profit attributable to owners of parent during the next fiscal year.
The unit sales forecasts for key products on which these calculations are based can be found on page 15 under the heading
“Others (4) Consolidated sales units, number of new titles, and sales units forecast” Assumed exchange rates for the major
currencies are 115 yen per U.S. dollar, and 125 yen per euro.
If COVID-19 interferes with production or transportation in the future, this might impact the supply of products. Other
unpredictable risks to the development and marketing of products and services also continue to exist.
In addition, the production of products might be affected by obstacles to the procurement of parts, such as the increase in global
demand for semiconductor components. The consolidated earnings forecast is based on the premise that we will be able to secure
the parts needed for the manufacture of products in line with our sales plans.
The Nintendo group will take the necessary measures and continue business operations to provide an environment in which
consumers can continue to enjoy Nintendo products and services.
In light of the comparability of consolidated financial statements over different fiscal years, Nintendo has a policy of preparing
its consolidated financial statements in accordance with accounting principles generally accepted in Japan, which has been
designed for convergence with International Financial Reporting Standards (IFRS), for the time being. Taking into account the
possible adoption of IFRS in the future, Nintendo continues to collect information and conduct various studies, participating in
seminars hosted by external organizations.
[Note] Appropriate Use of Earnings Forecasts
Statements relating to future projections represent the judgments made by Nintendo management based on information that was available at the time it is
written, and for that reason include certain potential risks and uncertainties. Please note that such risks and uncertainties may cause actual results to be
materially different from these forecasts (earnings forecasts, dividend forecasts, or other such forecasts).
Nintendo Co., Ltd.
Consolidated Balance Sheets
million yen
(Assets)
Current assets
Cash and deposits 1,185,151 1,206,506
Notes and accounts receivable-trade 140,570 141,087
Securities 557,238 504,385
Inventories 86,817 204,183
Other 50,692 70,147
Allowance for doubtful accounts (94) (98)
Total current assets 2,020,375 2,126,212
Non-current assets
Property, plant and equipment
Buildings and structures, net 42,230 42,571
Tools, furniture and fixtures, net 4,783 4,498
Machinery, equipment and vehicles, net 1,591 1,477
Land 34,785 35,337
Construction in progress 178 1,280
Total property, plant and equipment 83,569 85,164
Intangible assets
Software
11,106 10,241
Other 3,815 7,073
14,922 17,315
Investments and other assets
Investment securities 214,832 312,663
Retirement benefit asset 8,205 8,597
Deferred tax assets 82,819 87,996
Other 22,194 24,434
Total investments and other assets 328,051 433,692
Total non-current assets 426,543 536,172
Total assets 2,446,918 2,662,384
Total intangible assets
Description
As of March 31, 2021 As of March 31, 2022
Nintendo Co., Ltd.
million yen
(Liabilities)
Current liabilities
Notes and accounts payable-trade 114,677 150,910
Provision for bonuses 5,227 5,459
Income taxes payable 157,307 99,520
Other 249,119 284,836
Total current liabilities 526,331 540,726
Non-current liabilities
Retirement benefit liability 21,001 25,063
Other 24,970 27,284
Total non-current liabilities 45,972 52,347
Total liabilities 572,304 593,074
(Net assets)
Shareholders' equity
Share capital 10,065 10,065
Capital surplus 15,043 15,041
Retained earnings 1,993,325 2,198,706
Treasury shares (156,851) (220,343)
Total shareholders' equity 1,861,582 2,003,469
Accumulated other comprehensive income
Valuation difference on available-for-sale securities 33,571 33,199
Foreign currency translation adjustment (20,782) 32,373
Total accumulated other comprehensive income 12,788 65,573
Non-controlling interests 243 266
Total net assets 1,874,614 2,069,310
Total liabilities and net assets 2,446,918 2,662,384
Description
As of March 31, 2021 As of March 31, 2022
Nintendo Co., Ltd.
Consolidated Statements of Income
million yen
Net sales 1,758,910 1,695,344
Cost of sales 788,437 749,299
Gross profit 970,472 946,044
329,838 353,283
Operating profit 640,634 592,760
Non-operating income
Interest income 5,723 3,317
Share of profit of entities accounted for using equity method 6,564 26,672
Foreign exchange gains 24,039 45,626
Other 3,385 3,169
Total non-operating income 39,713 78,786
Non-operating expenses
Interest expenses 177 281
Commission for purchase of treasury shares 0 250
Other 1,174 201
Total non-operating expenses 1,351 733
678,996 670,813
Extraordinary income
Gain on sale of non-current assets 2,516 1
Gain on sale of investment securities 40 347
Settlement income - 3,300
Total extraordinary income 2,556 3,648
Extraordinary losses
Loss on disposal of non-current assets 247 73
Total extraordinary losses 247 73
Profit before income taxes 681,305 674,389
220,348 200,469
(19,463) (3,794)
Total income taxes 200,884 196,674
480,420 477,714
44 22
480,376 477,691
Profit attributable to non-controlling interests
Profit attributable to owners of parent
Profit
Income taxes-current
Income taxes-deferred
Ordinary profit
Description
Selling, general and administrative expenses
Year ended March 31, 2021 Year ended March 31, 2022
Nintendo Co., Ltd.
Consolidated Statements of Comprehensive Income
million yen
480,420 477,714
Other comprehensive income
Valuation difference on available-for-sale securities 23,137 (417)
Foreign currency translation adjustment 25,405 49,777
(1,013) 3,424
Total other comprehensive income 47,530 52,784
Comprehensive income 527,951 530,498
(Comprehensive income attributable to)
Comprehensive income attributable to owners of parent 527,907 530,476
Comprehensive income attributable to non-controlling interests 44 22
Year ended March 31, 2022
Description
Profit
Year ended March 31, 2021
Share of other comprehensive income of entities
accounted for using equity method
Nintendo Co., Ltd.
Consolidated Statements of Changes in Equity
Year ended March 31, 2021 (April 1, 2020 - March 31, 2021)
million yen
Balance as of April 1, 2020
10,065 15,041 1,707,119 (156,798) 1,575,428
Changes during period
Dividends of surplus
- - (194,171) - (194,171)
Profit attributable to owners of parent
- - 480,376 - 480,376
Purchase of treasury shares
- - - (53) (53)
Disposal of treasury shares
- 1 - 0 1
Cancellation of treasury shares
- - - - -
- - - - -
Total changes during period
- 1 286,205 (52) 286,153
Balance as of March 31, 2021
10,065 15,043 1,993,325 (156,851) 1,861,582
Balance as of April 1, 2020
10,637 (45,378) (34,741) 213 1,540,900
Changes during period
Dividends of surplus
- - - - (194,171)
Profit attributable to owners of parent
- - - - 480,376
Purchase of treasury shares
- - - - (53)
Disposal of treasury shares
- - - - 1
Cancellation of treasury shares
- - - - -
22,933 24,596 47,530 29 47,560
Total changes during period
22,933 24,596 47,530 29 333,714
Balance as of March 31, 2021
33,571 (20,782) 12,788 243 1,874,614
Non-controlling
interests
Total
net assets
Capital surplus
Retained
earnings
Treasury shares
Net changes in items
other than shareholders' equity
Accumulated other comprehensive income
Total
accumulated
other
comprehensive
income
Foreign currency
translation
adjustment
Valuation
difference
on available-for-
sale securities
Net changes in items
other than shareholders' equity
Share capital
Shareholders' equity
Total
shareholders'
equity
Nintendo Co., Ltd.
Consolidated Statements of Changes in Equity
Year ended March 31, 2022 (April 1, 2021 - March 31, 2022)
million yen
Balance as of April 1, 2021
10,065 15,043 1,993,325 (156,851) 1,861,582
Changes during period
Dividends of surplus
- - (240,702) - (240,702)
Profit attributable to owners of parent
- - 477,691 - 477,691
Purchase of treasury shares
- - - (95,100) (95,100)
Disposal of treasury shares
- - - - -
Cancellation of treasury shares
- (1) (31,607) 31,608 -
- - - - -
Total changes during period
- (1) 205,380 (63,492) 141,887
Balance as of March 31, 2022
10,065 15,041 2,198,706 (220,343) 2,003,469
Balance as of April 1, 2021
33,571 (20,782) 12,788 243 1,874,614
Changes during period
Dividends of surplus
- - - - (240,702)
Profit attributable to owners of parent
- - - - 477,691
Purchase of treasury shares
- - - - (95,100)
Disposal of treasury shares
- - - - -
Cancellation of treasury shares
- - - - -
(371) 53,156 52,784 22 52,807
Total changes during period
(371) 53,156 52,784 22 194,695
Balance as of March 31, 2022
33,199 32,373 65,573 266 2,069,310
Net changes in items
other than shareholders' equity
Share capital
Shareholders' equity
Total
shareholders'
equity
Net changes in items
other than shareholders' equity
Accumulated other comprehensive income
Valuation
difference
on available-for-
sale securities
Foreign currency
translation
adjustment
Total
accumulated
other
comprehensive
income
Non-controlling
interests
Total
net assets
Capital surplus
Retained
earnings
Treasury shares
Nintendo Co., Ltd.
Consolidated Statements of Cash Flows
million yen
Cash flows from operating activities
681,305 674,389
Depreciation
10,798 10,527
Increase (decrease) in allowance for doubtful accounts
(552) (37)
Interest and dividend income
(6,770) (4,525)
Foreign exchange losses (gains)
(24,625) (57,324)
Share of loss (profit) of entities accounted for using equity method
(6,564) (26,672)
Decrease (increase) in trade receivables
(527) 8,134
Decrease (increase) in inventories
7,244 (84,563)
Increase (decrease) in trade payables
22,002 25,125
254 2,575
Increase (decrease) in accrued consumption taxes
(4,613) (1,824)
Other, net
58,752 3,307
736,703 549,112
Interest and dividends received
8,702 4,862
Interest paid
(177) (281)
Income taxes paid
(133,122) (264,031)
Net cash provided by (used in) operating activities 612,106 289,661
Cash flows from investing activities
Purchase of short-term and long-term investment securities
(952,783) (943,319)
803,058 1,015,200
(7,011) (7,587)
4,853 7
Payments into time deposits
(468,817) (354,500)
Proceeds from withdrawal of time deposits
480,712 383,921
Other, net
3,454 (21)
Net cash provided by (used in) investing activities (136,533) 93,699
Cash flows from financing activities
Purchase of treasury shares
(67) (95,350)
Dividends paid
(194,021) (240,560)
Other, net
(848) (1,099)
Net cash provided by (used in) financing activities (194,938) (337,010)
30,042 44,288
Net increase (decrease) in cash and cash equivalents 310,676 90,638
Cash and cash equivalents at beginning of period 621,402 932,079
Cash and cash equivalents at end of period 932,079 1,022,718
Year Ended March 31, 2021 Year Ended March 31, 2022
Sub-total
Increase (decrease) in retirement benefit liability
Description
Profit before income taxes
Effect of exchange rate change on cash and cash equivalents
Proceeds from sale of property, plant and equipment and intangible assets
Proceeds from sale and redemption of short-term
and long-term investment securities
Purchase of property, plant and equipment and intangible assets
Nintendo Co., Ltd.
Notes Pertaining to Consolidated Financial Statements
(Changes in accounting procedures)
(Consolidated balance sheets information) million yen million yen
As of March 31, 2021 As of March 31, 2022
(
Consolidated statements of cash flows information
)
million yen million yen
Cash and deposits
Cash and cash e
q
uivalents
(Segment information)
Accumulated depreciation 72,872 78,988
(Application of the Accounting Standard for Revenue Recognition)
Effective at the beginning of the fiscal year ended March 31, 2022, Nintendo has adopted the Accounting Standard
for Revenue Recognition (ASBJ Statement No. 29, March 31, 2020). Under this standard, revenue is recognized at
the amount expected to be received for the goods or services and at the time control of the promised goods or services
is transferred to the customer.
Under the new standard, if the seller is obligated to buy back goods included in paid-for transactions, those goods
are no longer recognized as extinguished when they are paid for. As a result, at the end of the consolidated fiscal year
ended March 31, 2022, inventories and other current liabilities increased by 36,559 million yen. These were
previously recognized as the extinguishment of paid-for services.
The application of the Accounting Standard for Revenue Recognition is subject to the transitional treatment
stipulated in paragraph 84, but because there is no cumulative impact on profit or loss, the balance of retained
earnings at the beginning of the period has not been adjusted. The impact on the consolidated financial statements is
immaterial.
(Application of the Accounting Standard for Fair Value Measurement)
Effective at the beginning of the fiscal year ended March 31, 2022, Nintendo has adopted the Accounting Standard
for Fair Value Measurement (ASBJ Statement No. 30, July 4, 2019). Requirements of this accounting standard will
be applied prospectively, subject to the transitional treatment stipulated in paragraph 19 of the standard as well as
Article 44-2 of the Accounting Standards for Financial Instruments (ASBJ Statement 10, July 4, 2019). There is no
impact on the consolidated financial statements.
“Cash and cash equivalents at end of period” were reconciled to “Cash and deposits” in the accompanying consolidated balance sheets as of
March 31, 2021 and 2022 as follows:
Year ended
March 31, 2021
Year ended
March 31, 2022
1,185,151 1,206,506
Time deposits with maturities of
more than three months
(310,315) (304,527)
Short-term investments with an original
maturity of three months or less
57,243 120,739
932,079 1,022,718
Segment information is omitted as Nintendo (the Company and its consolidated subsidiaries) operates as a single
b
usiness se
g
ment.
Nintendo Co., Ltd.
(Per share information)
yen yen
[Notes]
1. Diluted profit per share is omitted as no residual securities were outstanding as of March 31, 2021 and 2022
2. The basis of calculation of profit per share is as follows:
million yen million yen
Profit attributable to owners of parent
thousands of shares thousands of shares
Average number of shares
(Significant subsequent events)
（Ac
q
uisition of treasur
y
shares）
（Stock s
p
li
t
）
（Introduction of a restricted stock com
p
ensation
p
la
n
）
At the meeting of the Board of Directors held on May 10, 2022, the Company resolved to acquire its own shares pursuant to Article 156
and Article 165-3 of the Japanese Companies Act and decided the specific method of acquisition. For details, please refer to "Notification
of Acquisition of Treasury Shares through Off-Auction Own Share Repurchase Trading (ToSTNeT-3)" released today.
At the meeting of the Board of Directors held on May 10, 2022, the Company resolved to authorize a stock split of shares of its common
stock and a partial amendment to the Articles of Incorporation and change in the Dividend Policy due to the stock split. For details, please
refer to "Notification of Common Stock Split and Partial Amendment to the Articles of Incorporation and Change in the Dividend Policy
due to Stock Split" released today.
At the meeting of the Board of Directors held on May 10, 2022, the Company reviewed the compensation plan for Directors and Executive
Officers and resolved to introduce a restricted stock compensation plan. A proposal of the Plan will be discussed at the 82nd Annual
General Meeting of Shareholders scheduled to be held on June 29, 2022. For details, please refer to "Notification of the Introduction of a
Restricted Stock Compensation Plan" released today.
Year ended
March 31, 2022
Year ended
March 31, 2021
Year ended
March 31, 2022
N
et assets per share 15,734.79 17,635.60
Profit per share 4,032.60 4,046.69
Year ended
March 31, 2021
119,123 118,044
480,376 477,691
Amount not attributable to common
shareholders
--
Profit attributable to owners of parent
related to common shares
480,376 477,691
Nintendo Co., Ltd.
Others
(1) Consolidated sales information
Dedicated video game platform
of which Nintendo Switch platform (*1)
of which the others (*2)
Mobile, IP related income, etc. (*3)
Playing cards, etc.
Dedicated video game platform
of which Nintendo Switch platform (*1)
of which the others (*2)
Mobile, IP related income, etc. (*3)
Playing cards, etc.
[Note] Digital sales in dedicated video game platform (*4):
Year ended March 31, 2022: 359.6 billion yen Year ended March 31, 2021: 344.1 billion yen
*1
*2 Includes platforms other than Nintendo Switch and also amiibo.
*3 Includes income from smart-device content and royalty income.
*4 Includes downloadable versions of packaged software, download-only software, add-on content and Nintendo Switch Online
.
(2) Other consolidated information
Average exchange rates 1 USD =
1 Euro =
Consolidated net sales in U.S. dollars
Consolidated net sales in Euros
Non-consolidated purchases in U.S. dollars
USD
Accounts receivable-trade
Accounts payable-trade
Euro
Accounts receivable-trade
Borrowings from subsidiaries
million U.S. dollars/Euros
(3) Balance of major assets and liabilities in foreign currencies (non-consolidated)
5.6 billion
828
Cash and deposits
Exchange rate Exchange rate Estimated exchange rate
3,575
1 USD=
115.00 yen
769
As of March 31, 2022
555
Nintendo Switch platform includes hardware, software (including downloadable versions of packaged software,
download-only software, add-on content and Nintendo Switch Online) and accessories.
6,717
Capital investments
Year ended March 31, 2022
Year ending March 31, 2023
(Forecast)
million yen
Depreciation of property, plant and equipment
16,766
7,0006,046
Cash and deposits
93,253
84,450
6,574
Balance
-
112.34 yen
Number of employees (at year-end)
Advertising expenses
Research and development expenses
125.00 yen
93,838
100,000
100,000
115.00 yen
As of March 31, 2023
-
-
130.50 yen
3.4 billion
6.3 billion
3.1 billion
-
As of March 31, 2021
million yen
17,912
Year ended March 31, 2021
38,000
Year ended
March 31, 2022
Japan The Americas Europe Other
2,773
Total
3,191
1,639,227
Total
708,382
375
5,529
3,125
123.68 yen
423
5.8 billion
106.03 yen
6.6 billion
Balance
102,199
522 575
1 Euro=
125.00 yen
1 USD=
110.70 yen
1 Euro=
129.82 yen
1 Euro=
135.41 yen
1 USD=
121.83 yen
381
325
827
419,012
694,890 412,482
13,492 6,529
Year ended
March 31, 2021
Japan The Americas Europe Other
173,666
18,907
1,783
358,857
Total
338,166
324,877
13,289
27,467 4,773 2,193
987
-
2
1,602,725
36,502
53,342
170,475
1,695,344
373,814 703,611 435,804 186,820 1,700,050
736,837 423,786 175,862
Total
1,583 190 0 5 1,779
361,824
27,366 5,293 2,373
691,498 428,258 184,823 1,666,405
397,443 731,168 441,097 189,200 1,758,910
22,046 57,080
11,989 12,112 7,545 1,997 33,645
Nintendo Co., Ltd.
(4) Consolidated sales units, number of new titles, and sales units forecast
Sales Units in Ten Thousands
Number of New Titles Released
Actua
l
Actua
l
Life-to-dat
e
Forecas
t
Apr. '20-Mar. '21 Apr. '21-Mar. '22 Mar. '22 Apr. '22-Mar. '23
Nintendo Switch
(
Total
)
Hardware Japan
660 519 2,523
The Americas
1,115 876 4,203
Europe
715 602 2,760
Other
393 309 1,279
Total
2,883 2,306 10,765 2,100
Japan
478 256 1,878
The Americas
707 522 3,208
Europe
502 404 2,215
Other
345 174 1,044
Total
2,032 1,356 8,345
Japan
－ 161 161
– OLED Model
The Americas
－ 194 194
Europe
－ 112 112
Other
－ 113 113
Total
－ 580 580
Japan
181 102 484
The Americas
409 159 801
Europe
213 86 433
Other
48 22 123
Total
851 370 1,840
Software Japan
4,502 4,214 15,436
The Americas
10,242 10,827 36,927
Europe
6,624 6,578 23,793
Other
1,720 1,888 6,062
Total
23,088 23,507 82,218 21,000
New titles Japan
291 327 1,176
The Americas
348 361 1,407
Europe
325 382 1,417
[Notes]
1.
Software sales units include both packaged and downloadable versions of software, and do not include download-only software or add-on content.
2.
The number of new titles is the number of packaged software.
3.
Actual software sales units include the quantity bundled with hardware.
4.
Forecasted software sales units do not include the quantity to be bundled with hardware.
of which Nintendo Switch
of which Nintendo Switch
of which Nintendo Switch Lite
Nintendo Co., Ltd.
（5）Changes of Directors（as of June 29, 2022）
① Anticipated new Director
Director (Audit and Supervisory
Committee Member)
Takuya Yoshimura (Current: Deputy General Manager, General Affairs
Division
General Manager, Legal Department and Tokyo
Branch Office)
② Retirement of a Director
Director (Audit and Supervisory
Committee Member)
Naoki Noguchi
（6）Changes of Executive Officers（as of June 29, 2022）
Role Change of an Executive Officer
Director,
Managing Executive Officer
*The areas of responsibility are
shown to the right.
Satoru Shibata (Current: Director,
Senior Executive Officer
General Manager, Marketing Division and Licensing
Division
In charge of Global Communications Division)
*The management changes will be effective upon approval at the 82nd Annual General Meeting of Shareholders to be held on June
29, 2022 and the subsequent Board of Directors meeting.
Nintendo Co., Ltd.
