Slides
Page 1
Financial Results Explanatory Material 3rd Quarter of Fiscal Year Ending March 2026 Nintendo Co., Ltd. February 3, 2026 1
Page 2
1. Consolidated Financial Results and Outlook 2
Page 3
Consolidated Financial Highlights FY25/Q1-Q3 FY26/Q1-Q3 Comparison Net sales 956.2 bn yen 1,905.8 bn yen +99.3 % Operating profit 247.5 bn yen 300.3 bn yen +21.3 % Operating profit ratio 25.9 % 15.8 % -10.1 pt. Ordinary profit 327.1 bn yen 455.8 bn yen +39.4 % Net profit 237.1 bn yen 358.8 bn yen +51.3 % Net profit ratio 24.8 % 18.8 % -6.0 pt. • Net profit: Profit attributable to owners of parent • FY = Fiscal Year FY26/Q1-Q3 indicates the period between April 1, 2025 and December 31, 2025. 3
Page 4
Consolidated Sales FY25/Q1-Q3 FY26/Q1-Q3 Comparison Net sales 956.2 bn yen 1,905.8 bn yen +99.3 % Dedicated video game platform*1 895.5 bn yen 1,851.3 bn yen +106.7 % IP related income, etc.*2 60.6 bn yen 54.5 bn yen -10.1 % *1 Includes hardware (including accessories and amiibo) and software (including downloadable versions of packaged software, download-only software, add-on content and Nintendo Switch Online). *2 Includes income from movies and videos, smart-device content, royalties and merchandise sales at official stores. Effect of changes in foreign exchange rates on net sales: -7.5 billion yen 22.8% 40.3% 24.7% 12.2% FY26/Q1-Q3 Regional Sales Ratio Japan The Americas Europe Other Proportion of sales outside Japan: 77.2% 4
Page 5
3.89 million units D 8.41 million units 4.25 million units 14.03 million units 5 FY25/Q1-Q3 FY26/Q1-Q3 Comparison Hardware Nintendo Switch 2 - 17.37 mil units - Nintendo Switch 9.54 mil units 3.25 mil units -66.0 % Software Nintendo Switch 2 - 37.93 mil units - Nintendo Switch 123.98 mil units 108.93 mil units -12.1 % Sales Status of Hardware and Software (Sell-In) 53.70 31.43 24.40 37.17 47.37 8.67 11.95 17.31 0 20 40 60 FY25/Q3 FY25/Q4 FY26/Q1 FY26/Q2 FY26/Q3 Software Quarterly Unit Sales Trends Nintendo Switch Nintendo Switch 2 4.82 1.26 0.98 0.91 1.36 5.82 4.54 7.01 0.00 2.00 4.00 6.00 8.00 FY25/Q3 FY25/Q4 FY26/Q1 FY26/Q2 FY26/Q3 Hardware Quarterly Unit Sales Trends Nintendo Switch Nintendo Switch 2 (mil units) (mil units)
Page 6
Digital Sales FY25/Q1-Q3 FY26/Q1-Q3 Comparison Digital sales*1 245.8 bn yen 282.0 bn yen +14.7 % Proportion of digital sales*2 51.0 % 50.4 % -0.6 pt. *1 Sales of downloadable versions of packaged software, download-only software, add-on content and Nintendo Switch Online, etc. *2 Proportion to total dedicated video game platform software sales 6 48.1 35.9 29.5 42.4 74.3 37.7 44.2 40.3 43.2 52.2 43.4% 62.9% 59.3% 51.2% 46.1% 0% 10% 20% 30% 40% 50% 60% 70% 0 20 40 60 80 100 120 140 FY25/Q3 FY25/Q4 FY26/Q1 FY26/Q2 FY26/Q3 Quarterly Digital Sales Trends(bn yen) Download-only software, add-on content, and Nintendo Switch Online, etc. Downloadable versions of packaged software Proportion of digital sales 85.9 bn 80.1 bn 69.8 bn 85.6 bn 126.5 bn
Page 7
Gross Profit Main Variable Factors FY25/Q1-Q3 FY26/Q1-Q3 Comparison Proportion of hardware sales*1 46.1 % 69.8 % +23.7 pt. Proportion of first-party software sales*2 73.4 % 74.9 % +1.5 pt. Proportion of digital sales*2 51.0 % 50.4 % -0.6 pt. Average exchange rate 1 USD 1 Euro 152.45 164.70 yen Yen 148.69 171.91 yen yen -3.76 +7.21 yen yen *1 Proportion of sales to total dedicated video game platform sales *2 Proportion of sales to total dedicated video game platform software sales FY25/Q1-Q3 FY26/Q1-Q3 Comparison Gross profit 565.5 bn yen 712.4 bn yen +26.0 % Gross profit ratio 59.1 % 37.4 % -21.7 pt. 7
Page 8
FY25/Q1-Q3 FY26/Q1-Q3 Comparison SG&A expenses 317.9 bn yen 412.0 bn yen +29.6 % SG&A expenses-to-sales ratio 33.2 % 21.6 % -11.6 pt. Operating profit 247.5 bn yen 300.3 bn yen +21.3 % Operating profit ratio 25.9 % 15.8 % -10.1 pt. • SG&A expenses: Selling, general and administrative expenses Effect of changes in foreign exchange rates on operating profit: approx. +17.5 billion yen FY25/Q1-Q3 FY26/Q1-Q3 Comparison Research and development expenses 104.7 bn yen 127.5 bn yen +21.8 % Advertising expenses 68.8 bn yen 114.4 bn yen +66.2 % Selling, General and Administrative Expenses / Operating Profit 8
Page 9
Ordinary Profit and Net Profit FY25/Q1-Q3 FY26/Q1-Q3 Comparison Non-operating income 79.9 bn yen 156.1 bn yen +95.4 % included foreign exchange gains 6.2 bn yen 47.8 bn yen +667.6 % Non-operating expenses 0.4 bn yen 0.7 bn yen +70.5 % Ordinary profit 327.1 bn yen 455.8 bn yen +39.4 % Net profit 237.1 bn yen 358.8 bn yen +51.3 % Net profit ratio 24.8 % 18.8 % -6.0 pt. 9 Exchange rate FY25 (3/31/2025) FY26/Q3 (12/31/2025) Comparison 1 USD 1 Euro 149.48 161.76 yen yen 156.66 183.93 yen yen +7.18 +22.17 yen yen
Page 10
10 Consolidated Financial Forecast In regard to the potential impact of U.S. tariffs, the earnings forecast and projected sales volumes take into account tax rates as of the end of December 31, 2025. FY25 (Actual) FY26 (Forecast) Comparison Net sales 1,164.9 bn yen 2,250.0 bn yen +93.1 % Operating profit 282.5 bn yen 370.0 bn yen +30.9 % Ordinary profit 372.3 bn yen 460.0 bn yen +23.6 % Net profit 278.8 bn yen 350.0 bn yen +25.5 % ・Assumed exchange rate for FY26: 1USD = 150 yen (previously 140 yen), 1 Euro = 170 yen (previously 160 yen) Dividend FY25 (Actual) FY26 (Forecast) Comparison Annual 120 yen 181 yen +61 yen The consolidated financial forecast for the fiscal year ending March 2026 remains unchanged from the forecast announced on November 4, 2025.
Page 11
11 Sales units forecast FY25 (Actual) FY26 (Forecast) Comparison Nintendo Switch 2 Hardware - mil units 19.00 mil units - % Software - mil units 48.00 mil units - % Nintendo Switch Hardware 10.80 mil units 4.00 mil units -63.0 % Software 155.41 mil units 125.00 mil units -19.6 % FY26 software sales unit forecast includes software bundled with other products during the nine months ended December 31, 2025 (approx. 12.20 million units of Nintendo Switch 2 software and 0.91 million units of Nintendo Switch software) but does not include software bundled with other products January 1, 2026 onwards. Of the Nintendo Switch software mentioned above, approximately 0.51 million units were bundled with Nintendo Switch 2 hardware. Consolidated Financial Forecast
Page 12
2. Business Highlights 12
Page 13
0 5 10 15 (million units) Nintendo Switch 2 Sell-Through Sell-through: Internal estimates of unit sales to individual consumers Cumulative global sell-through as of the 4th week of December 2025 (fastest-selling dedicated video game platform released by Nintendo to date) 15 million units
Page 14
1414 117 M 82 M 50 M 31 M 12 M 102 M 128 M 129 M130 M Jan. 2017 - Dec. 2017 Jan. 2018 - Dec. 2018 Jan. 2019 - Dec. 2019 Jan. 2020 - Dec. 2020 Jan. 2021 - Dec. 2021 Jan. 2022 - Dec. 2022 Jan. 2023 - Dec. 2023 Jan. 2024 - Dec. 2024 Jan. 2025 - Dec. 2025 Historical Hardware Sell-In and Annual Playing Users • Nintendo Switch has reached the highest sales volume of any Nintendo hardware • Over 100 million annual playing users, continuing the trend from last year Annual Playing UsersHistorical Hardware Sell-In 155.37 million unitsNintendo Switch 2 Nintendo Switch Wii U Nintendo 3DS Wii Nintendo DS Game Boy Advance Game Boy Nintendo GameCube Nintendo 64 SNES NES
Page 15
15 Nintendo Switch 2 Software (First-Party) 15 Nintendo Switch 2 EditionNintendo Switch 2 Software
Page 16
Nintendo Switch 2 Titles Planned For Release (First-Party) 16 January 15, 2026 March 26, 2026February 12, 2026 Spring 2026 March 5, 2026 2026 TBD
Page 17
17 First-Party Titles for Nintendo Switch April 16, 2026 20262026
Page 18
Nintendo Switch 2 Titles From Other Software Publishers February 13, 2026 May 27, 2026 March 12, 2026 January 22, 2026 February 12, 2026 April 24, 2026 January 22, 2026 February 5, 2026 February 27, 2026 March 13, 2026 2026 2026
Page 19
19 Initiatives Leveraging Nintendo IP Nintendo Live 2025 TOKYO was held on October 4 and 5 at Tokyo Big Sight Our fourth directly managed store in Japan, Nintendo FUKUOKA, opened in November 2025
Page 20
20 Movies
Page 21
21 Super Mario Bros. 40th Anniversary Initiatives
Page 22
3. Reference Materials 22
Page 23
Sales Breakdown (by Region) million yen FY26/Q1-Q3 Dedicated video game platform IP related income, etc. FY25/Q1-Q3 Dedicated video game platform IP related income, etc. Dedicated video game platform : Includes hardware (including accessories and amiibo) and , software (including downloadable versions of packaged software, download-only software, add-on content and Nintendo Switch Online) IP related income, etc. : Includes income from movies and videos, smart-device content, royalties, and merchandise sales at official stores. Supplementary Information million yen Depreciation of property, plant and equipment Research and development expenses Advertising expenses Average exchange rate 1 USD = 1 Euro = Consolidated net sales in U.S. dollars Consolidated net sales in Euros Non-consolidated purchases in U.S. dollars Balance of Major Assets and Liabilities in Foreign Currencies held by Nintendo Co., Ltd. (Japan) million U.S. dollars/Euros USD Cash and deposits Accounts receivable-trade Accounts payable-trade Euro Cash and deposits Accounts receivable-trade 406,028 748,671 467,010 229,614 1,851,324 Japan The Americas Europe Other Total Total 435,481 768,763 470,728 230,909 29,452 20,091 3,718 1,295 54,558 1,905,883 Japan The Americas Europe Other Total 956,218 197,503 388,242 238,389 71,389 895,523 27,170 28,652 4,005 865 60,694 Total 224,674 416,894 242,394 72,254 FY25/Q1-Q3 FY26/Q1-Q3 FY26 (forecast) 7,221 9,212 12,000 104,772 127,570 175,000 68,859 114,424 140,000 152.45 yen 148.69 yen 164.70 yen 171.91 yen 171.42 円 149.01 円 2.5 billion 4.9 billion - 1.4 billion 2.7 billion - 3.2 billion 6.6 billion - March 31, 2025 December 31, 2025 March 31, 2026 (Forecast) 1,576 1 USD= 149.48 yen 1,859 1 USD= 156.66 yen 1 USD= 150.00 yen Balance Exchange Rate Balance Exchange Rate Assumed Exchange Rate 1 Euro= 170.00 yen 1 Euro= 183.93 yen632 791 679 1,135 1,105 1,612 244 1 Euro= 161.76 yen 779 Nintendo Co., Ltd. 23
Page 24
Digital Sales billion yen [Notes] ・Digital Sales: Includes (a) downloadable version of packaged software (the downloadable version of software that is offered both physically and digitally), (b) download-only software, (c) add-on content and (d) Nintendo Switch Online, etc. ・Proportion of Digital Sales: Proportion of digital sales to total dedicated video game platform software sales ・Proportion of Downloadable Versions of Packaged Software Sales: Proportion of downloadable versions of packaged software sales to total digital sales [= a/(a+b+c+d)] Key Indicators [Notes] ・Proportion of Sales Outside of Japan: Proportion of sales outside of Japan to total sales ・Proportion of Hardware Sales: Proportion of hardware (including accessories) sales to total dedicated video game platform sales ・Proportion of First-Party Software Sales: Proportion of first-party software sales to total dedicated video game platform software sales Proportion of Downloadable Digital Sales Proportion of Digital Sales Versions of Packaged Q3 Q4 Q1 Q2 Q3 Q4 Software Sales FY26 FY26 FY26 Q1 Q2 Q3 Q4 Q1 Q2 46.1% 42.3% 49.5% 58.7%69.8 85.6 126.5 59.3% 51.2% FY25 FY25 FY25 155.5 54.5% 46.3% 282.0 50.4% 51.9% Q3 Q4 Q1 Q2 Q3 Q4Q1 Q2 Q3 Q4 Q1 Q2 43.4% 62.9% 42.2% 43.6% 56.1% 44.9%80.7 79.2 85.9 80.1 58.9% 53.9% 326.0 53.5% 46.9% Proportion of Sales Proportion of Hardware Sales Proportion of First-Party Outside of Japan Software Sales 159.9 56.3% 42.9% 245.8 51.0% 47.5% FY26 FY26 FY26 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 79.5% 79.5% 73.9% 78.8% FY25 FY25 FY25 79.5% 73.2% 67.2% 77.2% 69.8% 74.9% 67.2% 65.1% 64.8% 68.7% 81.9% Q3 Q4 Q1 Q2 Q3 Q4Q1 Q2 Q3 Q4 Q1 Q2 51.7% 32.2% 73.2% 66.3% 78.0% 71.5%74.2% 75.2% 78.6% 75.9% 40.2% 42.6% 76.4% 43.7% 73.0% 74.7% 41.4% 69.5% 76.5% 46.1% 73.4% Nintendo Co., Ltd. 24
Page 25
Sales Units and Sales Units Forecast units in ten thousands Nintendo Switch 2 Hardware Japan The Americas Europe Other Total Software Japan The Americas Europe Other Total Nintendo Switch Hardware (Total) Japan The Americas Europe Other Total of which Nintendo Switch Japan The Americas Europe Other Total of which Nintendo Switch Japan – OLED Model The Americas Europe Other Total of which Nintendo Switch Lite Japan The Americas Europe Other Total Software Japan The Americas Europe Other Total [Notes] ・Software sales units include both packaged and downloadable versions of software, and do not include download-only software or add-on content. ・Actual software sales units include the quantity bundled with hardware or other products. ・Forecasted software sales units include software bundled with other products during the nine months ended December 31, 2025 but do not included software to be bundled with other products January 1, 2026 onwards. ・Packaged versions of Nintendo Switch 2 Edition software are included in Nintendo Switch 2 software sales units, and downloadable versions are included in Nintendo Switch software sales units. Sales of upgrade packs are not included in software sales units. 12,398 10,893 150,016 12,500 5,088 4,548 65,051 3,758 3,215 43,687 863 819 11,654 8 3 163 173 79 2,627 2,688 2,312 29,624 62 30 716 68 30 1,169 35 16 579 124 25 728 76 40 503 507 148 3,168 274 98 9,742 170 47 992 137 36 945 126 47 3,831 92 31 2,685 7 2 1,121 92 45 1,787 954 325 15,537 400 49 17 2,106 281 94 3,814 330 114 5,945 251 71 3,991 - 1,018 1,018 - 448 448 - 3,793 3,793 4,800 - 1,737 1,737 1,900 - 916 916 - 1,410 1,410 - 598 598 - 410 410 - 250 250 FY25/Q1-Q3 FY26/Q1-Q3 Life-to-date Forecast FY26 - 478 478 Nintendo Co., Ltd. 25
Page 26
Million-Seller Nintendo First-Party Titles units in ten thousands Mario Kart World Donkey Kong Bananza Pokémon Legends: Z-A Nintendo Switch 2 Edition Kirby Air Riders Pokémon Legends: Z-A Super Mario Galaxy 2 Mario Kart 8 Deluxe Super Mario Galaxy Super Mario Party Jamboree Nintendo Switch Sports Animal Crossing: New Horizons Pokémon Scarlet/ Pokémon Violet Super Smash Bros. Ultimate Super Mario Bros. Wonder [Notes] ・Software sales units include those bundled with hardware or other products and downloadable versions of packaged software. Launch Dates of Primary Nintendo Products (April through December 2025) Nintendo Switch 2 (Hardware) Nintendo Switch 2 (Software) Mario Kart World Nintendo Switch 2 Welcome Tour (*1) The Legend of Zelda: Breath of the Wild – Nintendo Switch 2 Edition (*2/*3) The Legend of Zelda: Tears of the Kingdom – Nintendo Switch 2 Edition (*2/*3) Donkey Kong Bananza . Super Mario Party Jamboree – Nintendo Switch 2 Edition + Jamboree TV (*2) Drag x Drive (*1) Kirby and the Forgotten Land – Nintendo Switch 2 Edition + Star-Crossed World (*2) Pokémon Legends: Z-A – Nintendo Switch 2 Edition (*2) Hyrule Warriors: Age of Imprisonment (*4) Kirby Air Riders Metroid Prime 4: Beyond – Nintendo Switch 2 Edition (*2) 1,403 335 1,067 1,403 Nintendo Switch 2 FY26/Q1-Q3 Life-to-date Global Japan Outside of Japan Global Nintendo Switch FY26/Q1-Q3 Life-to-date Global Japan Outside of Japan Global 112 9 103 1,715 6/5/2025 7/17/2025 7/24/2025 8/14/2025 12/4/2025 11/6/2025 11/20/2025 204 7,059 228 30 Release Date 425 69 356 425 389 112 276 389 176 90 86 176 6/5/2025 6/5/2025 6/5/2025 6/5/2025 239 35 198 228 841 308 533 841 242 32 210 242 150 40 109 4,932 128 28 101 2,808 193 37 156 941 157 21 136 1,784 120 24 96 3,744 10/16/2025 8/28/2025 Nintendo Co., Ltd. 26
Page 27
Nintendo Switch (Software) Pokémon Friends (*1) Super Mario Galaxy (*1) Super Mario Galaxy 2 (*1) Super Mario Galaxy + Super Mario Galaxy 2 Pokémon Legends: Z-A Metroid Prime 4: Beyond [Notes] ・Release dates may differ by region. Please refer to the official site of each region for further details. *1 This title is available in downloadable format only. *2 Owners of the packaged or downloadable versions of the game for Nintendo Switch will be able to purchase the upgrade pack to upgrade to the Nintendo Switch 2 Edition. *3 Nintendo Switch Online + Expansion Pack members can access the upgrade packs for these games *4 This title is licensed to be released and sold as a Nintendo product outside of Japan. Launch Schedule of Primary Nintendo Products (extracts: January 2026 onwards) Nintendo Switch 2 (Software) Animal Crossing: New Horizons – Nintendo Switch 2 Edition (*1) Mario Tennis Fever Pokémon Pokopia (*2) Super Mario Bros. Wonder – Nintendo Switch 2 Edition + Meetup in Bellabel Park (*1) Yoshi and the Mysterious Book Fire Emblem: Fortune's Weave Splatoon Raiders (Software) Hello, Mario! (*3) Tomodachi Life: Living the Dream Rhythm Heaven Groove Pokémon Champions (*3) [Notes] ・Launch dates and titles etc. are subject to change. ・Release dates may differ by region. Please refer to the official site of each region for further details. *1 Owners of the packaged or downloadable versions of the game for Nintendo Switch will be able to purchase the upgrade pack to upgrade to the Nintendo Switch 2 Edition. *2 This title is published by The Pokémon Company in Japan. *3 This title is available in downloadable format only. ("Hello, Mario!" is available for free download.) 2026 2/12/2026 3/26/2026 Spring 2026 TBD 2026 Release Date 2026 Nintendo Switch 4/16/2026 3/5/2026 2/19/2026 Release Date 12/4/2025 1/15/2026 Release Date 7/22/2025 10/2/2025 10/2/2025 10/2/2025 10/16/2025 Nintendo Co., Ltd. 27
Page 28
Supplementary Information on Our Website Earnings Releases, etc. ・Earning Releases ・Timely Disclosure of Information, etc. Financial Results Announcement/IR Events ・Corporate Management Policy Briefing Presentation Materials ・Financial Results Explanatory Materials, etc. Financial Highlights ・Consolidated Statements of Income (Annual/ Quarterly) ・Consolidated Balance Sheet (Annual/ Quarterly) ・Consolidated Cash Flows (Annual) ・Key Figures per Share (Annual) ・Geographical Sales Breakdown (Annual/ Quarterly) ・Sales Breakdown by Category (Annual/ Quarterly) Dedicated Video Game Sales Units ・Total Unit Sales (Life-to-date) ・Unit Sales (Annual/ Quarterly) Top Selling Title Sales Units ・Top selling Nintendo software sales units on an accumulated basis Historical Data (Updated at fiscal year-end) ・Consolidated Statements of Income Transition ・Consolidated Sales Transition by Region Upcoming Software Title Lineup ( Japan / United States / Europe ) ・Upcoming Software Publishers' Title Lineup [Notes] ・Corresponding pages on our website can be accessed by clicking on the titles above. ・Financial Highlights will be updated within 2 business days of our financial announcement. Nintendo Co., Ltd. 28