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News Nintendo

Nintendo Slashes Its Operating Income Forecast and Raises Its Expected Net Income

Nintendo issued its second quarter earnings release today, highlighting financial data from the last six months and adjusting projections for the coming six months. Nintendo suffered another operating loss last quarter, but their net profits are up thanks to the sale of the Seattle Mariners baseball team. Following these announcements, Nintendo has adjusted its previously announced financial forecast for the year.

Nintendo was previously expecting to earn an operating profit of ¥45 billion for the year and a net profit of ¥35 billion. Nintendo has now slashed their operating profit projection to ¥30 billion, but they’ve raised their expected net profits to ¥50 billion. Nintendo’s declining operating profit is attributed to a stronger-than-expected yen and declining sales. The increased net profits are a result of the sale of the Seattle Mariners.

Source: Nintendo

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Selling the Seattle Mariners Keeps Nintendo Profit Positive Despite Another Operating Loss

Nintendo has just issued its second quarter earnings release, highlighting financial data from the first six months (April 1st – September 30th) of the current fiscal year. It hasn’t been a very strong year for Nintendo so far, and that’s reflected in the company’s finances, as Nintendo is reporting an operating loss of ¥5.947 billion (around $57 million) for the first two quarters. Nintendo reported an operating loss of ¥5.134 billion yen for the first three quarters earlier this year, so it looks like quarter two saw them losing around ¥800 million (around 7.7 million). Net sales were down by 33%.

However, Nintendo still has a net profit for the year so far. Through six months, Nintendo reports their “Profit attributable to owners of parent” at ¥38.299 billion, or around $271 million. This is
just short of analyst projections, and the net profit can largely be attributed to the sale of the Seattle Mariners baseball team earlier this year. Through the first three months of the year, Nintendo had a net loss of ¥24.534 billion. That means they pulled in around $600 million in net profits last quarter, and they sold the Mariners for $661 million.

Source: Nintendo

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Analysts Believe the Sale of the Seattle Mariners Will Boost Nintendo’s Half-Year Profits by 160%

Nintendo will issue its second quarter earnings release on October 26th, highlighting sales and revenue date for the period of July 1st – September 30th, 2016. A survey of six analyst estimates projects that Nintendo will report a net profit of $180 million for the second quarter. According to a new report from Nikkei Asian Review, their profits for the current fiscal year (which began on April 1st, 2016) are expected to be substantially higher than last year’s through six months.

Nintendo announced plans to sell off their majority stake in the Seattle Mariners back in April, and the deal was officially approved in August. This transaction brought in $661 million for Nintendo, boosting their profits. Nintendo did not make any announcement in regards to how this would influence their financial projections for the year at the time, but Nikkei Asian Review believes it will result in a 160% year-over-year increase for Nintendo profits through the first six months of the fiscal year. This projection suggests that Nintendo made around $289 million in net profits from April through September.

Source: Nikkei Asian Review

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News Nintendo

Nintendo Made $661 Million from Selling the Seattle Mariners

Nintendo is well-known as a video game creator, but since 1992 they’ve also been the majority owners of the Seattle Mariners. Back in April, Nintendo of America announced that they’d be selling their majority stake in the team, and the deal was officially approved a few days ago. In a statement to investors, Nintendo has revealed that they received $661 million for the sale. Nintendo of America retains a 10% share in the team. As for the impact on Nintendo’s financial forecast for the year, the statement says “it will take some time” to calculate.

Source: Nintendo

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The MLB Has Now Officially Approved Nintendo’s Sale of the Seattle Mariners

A few months ago, we learned that Nintendo was planning to sell off its majority share of the Seattle Mariners baseball team, which they have owned and been in charge of for 24 years. While the decision to do this was made back in April, the process of selling the team has been an ongoing process, with the MLB hosting a vote last night to determine if the sale would be allowed. Approval was given, and so the sale has now been finalized.

Nintendo will continue to hold 10% of the Mariners’ stock, but their majority share is now being sold off to other members of First Avenue Entertainment LLLP, the group of corporations that collectively owns the team. Chairman and CEO Howard Lincoln has also stepped down from his positions, with John Stanton replacing him. Lincoln will continue to be involved with the team, however, as he will retain a spot on First Avenue Entertainment’s board of directors.

Are you sad to see Nintendo’s ownership of the baseball team go away? Let us know in the comments!

Source: Nintendo Everything

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President Tatsumi Kimishima Explains Why Nintendo’s Selling the Seattle Mariners Baseball Team

Nintendo is best known for making iconic video game characters and adventures, but a lesser-known fact about that popular video game company is that they have been the principal owners of a baseball team, the Seattle Mariners, since 1992. The late Hiroshi Yamauchi, who served as President of Nintendo for decades, purchased the baseball team in order to prevent them from having to leave the Seattle area, and they’ve belonged to Nintendo ever since.

However, shortly after Nintendo issued its annual earnings report, we learned that they
are selling their majority ownership of the team. After concluding his financial presentation, Nintendo President Tatsumi Kimishima explained the decision to sell the team (keeping only a 10% stake) to investors, while also highlighting Nintendo’s history with the team.

“Finally, about three hours ago, at Safeco Field which is the home for the MLB’s Seattle Mariners, Mr. Howard Lincoln, who is the CEO of the team and a board member of Nintendo of America Inc., announced the planned sale of its majority interest in the Seattle Mariners to other members of the team’s current ownership group. An agreement has been reached that Nintendo of America will retain a 10% stake in the team, while the remainder of its holdings will be sold to other members of First Avenue Entertainment LLLP, namely, to other existing minority owners of the team. First Avenue Entertainment LLLP is the limited partnership that owns the Seattle Mariners, and a majority interest in ROOT Sports NW. Closing the transaction is subject to the finalization of legal contracts and approval from Major League Baseball which is expected in August of this year. We will then close the sale and Mr. Lincoln will resign as the Mariners CEO.

“As many of you know, Nintendo of America Inc., which is headquartered in the Seattle area, was approached by local representatives in the early 1990s and invited to invest in the team, which was at risk of being moved away from the region. The late Hiroshi Yamauchi, at that time the president of Nintendo Co., Ltd., agreed to spend his own money to purchase the majority ownership of the team in order to show Nintendo’s appreciation to the U.S. for helping Nintendo do business in the country, and to contribute to the local residents and area. He became the principal owner of the team in 1992.

“Mr. Yamauchi passed away in 2013. Due consideration had been made before his death and his ownership had already been transferred to Nintendo of America in order to ensure the team would remain in the area. Then Mr. Satoru Iwata, who had been overseeing the team as the new president of Nintendo after Mr. Yamauchi, as well serving as the CEO of Nintendo of America, passed away last year. This sad occurrence, along with Mr. Lincoln’s desire to relinquish day-to-day leadership for the team, prompted this decision.

“As president and, then, the chairman of Nintendo of America, I personally observed the great efforts and contributions that Mr. Lincoln made during the past 17 years as the team’s CEO and the chairman. He worked to keep the team within the region and generated continued support from local residents. He has been a very reliable partner for me especially on the business affairs concerning the Mariners even after I returned to Japan and started working at Nintendo Co., Ltd. Now that Mr. Yamauchi and Mr. Iwata have passed away, and Mr. Lincoln has shown his desire to retire as CEO of the team, and especially because we can be now certain that the team will remain in the region and can grow, Nintendo of America has negotiated a sale of its majority interest to the current minority owners.

“Since the subject sales profit has not been incorporated into the annual financial forecast we announced yesterday, if and when the sales contract is executed and approved by MLB, we will make the appropriate timely disclosure such as modifying the financial forecast. For your information, we will negotiate the deal by assuming the comprehensive asset value of First Avenue Entertainment LLLP as being 1.4 billion U.S. dollars.

“Although Mr. Howard Lincoln will remain as a board member of the team and of Nintendo of America after his retirement from the CEO of the Seattle Mariners, I would like to take this opportunity to express my great appreciation for his shouldering and carrying out the huge responsibilities for both Nintendo and the Seattle Mariners, and for his splendid leadership.”
— Tatsumi Kimishima

Source: Nintendo

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3DS Features Mobile Platforms Nintendo Switch Podcast Wii U

Nintendo Week Talks NX, Zelda U, 2017, Animal Crossing and Fire Emblem Mobile Games, & Tons More

There are tons of gaming enthusiast podcasts out in the wild, but almost none of the top-tier podcasts are made specifically for Nintendo fans. That’s where we come in! We here at Gamnesia are bringing you a new episode of “Nintendo Week,” a podcast made for Nintendo fans by Nintendo fans.

Yesterday was Nintendo’s investors’ meeting, which revealed tons of information about their upcoming year, so join Alex, Ben, and Colin as they sort through a mountain of news, including new mobile games for
Animal Crossing and Fire Emblem and a ton of financial information. After the break, we discuss Star Fox Zero and its related animated short in the Game Corner before finishing off the show with a discussion segment on NX, Zelda U, and E3 2016, all of which Nintendo officially discussed. You can check out the episode below—or if you’d like to save it to listen later, you can check the latest episode out on iTunes, available now.



Nintendo Week is currently available in full on
iTunes, Podbean, and right here at Gamnesia—and tons of videos from the show are available on YouTubewhere it’s easy to find them based on your favorite subjects… So between it all, you have plenty of ways to access one of the best places for information on all things Nintendo. You can subscribe to the podcast on iTunes for the earliest possible access to new episodes, or subscribe to our channel on YouTube for totally neato visuals. But if you’d rather not subscribe, you can still find all of our Nintendo Week content right here at Gamnesia.

Note: We’ve reached file capacity for SoundCloud uploads, so for the time being we’re exploring other options. In the meantime, we’re still available on tons of great platforms!

If you’d like to give us feedback, please email me at
[email protected], and we’ll do our best to improve our show! We want to give you guys the best podcast we can, so please don’t be afraid to leave suggestions. And if you have questions about Nintendo that you’d like some insight on, please send those in as well! When we have a good number of fan questions, we’ll be answering them in one big block, so we’d love to hear some of your thoughts.

Get More from Nintendo Week:

More Information on This Week’s Stories:

The Game Corner:

This Week’s Lightning Round:


This week’s break music is an incredible
8-bit remix of “Touch Fuzzy, Get Dizzy,” from Yoshi’s Island, as always by the wonderful Bulby, while our outro music is an amazing guitar cover of Star Fox 64‘s Star Wolf theme by FamilyJules7X.


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Nintendo of America is Selling its Majority Ownership of the Seattle Mariners Baseball Team

After nearly a quarter of a century, Nintendo of America will sell its majority share in the Seattle Mariners to the other limited partnership owners of the baseball franchise. The sale will leave NoA with 10 percent ownership of the team and cause former NoA chairman Howard Lincoln to vacate his position as Mariners chairman and CEO. The stake in the team was original purchased by late Nintendo President Hiroshi Yamauchi in 1992, in a show of appreciation to the citizens of NoA’s native Washington.

The sale was made for $125 million USD and allowed the team to remain Seattle-based. At present the Mariners have a worth of $1.4 billion USD. Lincoln, who originally acted as an ownership representative for Yamauchi, had the following to say regarding the sale:

“From the first day of our involvement nearly 24 years ago, Nintendo has had two goals for its investment in the Mariners. First, we wanted to assure the permanence of the team in this great city. And on that count, I am proud and gratified that this agreement further solidifies that goal. On the other hand, I’m equally disappointed that we have not been able to host a World Series game for our fans.” —
Howard Lincoln

Did you ever get a chance to see the Nintendo-owned Mariners play? Let us know in the comments below.

Source: Polygon

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