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1、Thank you for attending today.I am Shuntaro Furukawa,President of Nintendo.Nintendo Co.,Ltd.1First,I would like to briefly discuss the consolidated results for the first half of the fiscal year ending March 31,2025 that we announced yesterday.In comparison to the previous year where we had hits such

2、 as The Legend of Zelda:Tears of the Kingdomand The Super Mario Bros.Movie,we saw a decrease in sales and profits for the first half of the current fiscal year.Sales of Nintendo Switch hardware was 4.72 million units,and sales of software was 70.28 million units.Although this is a year-over-year dec

3、rease in both figures,sales continue to be robust in comparison to past Nintendo platforms in their eighth year.Nintendo Co.,Ltd.2Next,we will explain our financial forecast for the current fiscal year.We have revised our forecast for hardware and software sales to reflect the results of the first h

4、alf of the fiscal year.As a result,our forecast for net sales has decreased by 5.2%to 1,280.0 billion yen,and our forecast for operating profit has decreased by 10.0%to 360.0 billion yen.As a result of changes in our outlook for non-operating profit and loss for the fiscal year,forecasts for ordinar

5、y profit and net profit remain unchanged.Therefore,there is no change in the forecast for the annual dividend.Nintendo Co.,Ltd.3 Let us turn to a more detailed overview of this fiscal years business situation,focusing on the current state of Nintendo Switch.Nintendo Co.,Ltd.4 First launched in March

6、 2017,the Nintendo Switch family of systems has now achieved cumulative hardware sales of 146.04 million units.Cumulative software sales have reached 1.3061 billion units,setting a new record for a Nintendo gaming platform.More software has been played on Nintendo Switch than on any other Nintendo h

7、ardware.Note:Unit sales refer to the sell-in count(sales by the Nintendo group to outside entities).Software sales include both sales for packaged software and downloadable versions of packaged software,but do not include download-only software.Nintendo Co.,Ltd.5The number of annual playing users,de

8、fined as those who have played Nintendo Switch at least once in the past year,exceeded 100 million.Many people continue to enjoy Nintendo Switch even in its eighth year.Additionally,people of all ages,from children to seniors,are playing Nintendo Switch.Note:The number of Nintendo Switch annual play

9、ing users refers to Nintendo Accounts,among all Nintendo Accounts registered to a Nintendo Switch system,that used Nintendo Switch software at least once within the 12-month data aggregation period.Users who have not agreed to share their information are excluded.This count does not include the use

10、of services like Nintendo eShop.Past usage data is collected when Nintendo Switch is connected to the internet,so the figures are updated retroactively.Nintendo Co.,Ltd.6With Nintendo Switch being played by many people around the world,we are heading into the holiday season with titles like The Lege

11、nd of Zelda:Echoes of Wisdom(released on Sept.26),Super Mario Party Jamboree(released on October 17),and Mario&Luigi:Brothership(set to be released tomorrow,Nov.7).Regarding hardware,we launched Nintendo Switch Lite:Hyrule Edition,incorporating the Hylian Crest symbol that appears in the Legend of Z

12、elda series,on the same day as The Legend of Zelda:Echoes of Wisdom.In certain regions such as North America and Europe,we are launching hardware bundled with evergreen titles and a redemption code for a Nintendo Switch Online membership.Even in its eighth year after launch,we continue to promote ha

13、rdware sales to get Nintendo Switch into the hands of as many people as possible.Nintendo Co.,Ltd.7 Here are titles from other software publishers being released for Nintendo Switch from September to December.Software publishers worldwide are once again releasing a wide variety of titles this year.N

14、intendo Co.,Ltd.8Many new titles are planned to be released next year as well.The games shown here have been announced for release in 2025.Nintendo Co.,Ltd.9Let me provide a brief summary of the situation this fiscal year.Since last fiscal year saw the release of hits like The Legend of Zelda:Tears

15、of the Kingdom,The Super Mario Bros.Movie,and Super Mario Bros.Wonder,we expect a decrease in sales and profits this year.That being said,Nintendo Switch has maintained its momentum and is being played by over 100 million people worldwide,from children to seniors.We will continue to make the hardwar

16、e appealing with a steady release of new Nintendo Switch titles for the holiday season and next year.Moving away from the traditional dedicated video game platform business cycles we saw in the past,we intend to maintain the momentum of our business by continuing to engage many people with Nintendo

17、Switch.Nintendo Co.,Ltd.10Next,I would like to comment on our performance from a medium-term perspective.Since the launch of Nintendo Switch,the business has continued to perform robustly,maintaining its momentum following the initial uptrend driven by the spread of the hardware.There are certainly

18、individual factors behind this,like the hit of new titles released each fiscal year,but when we look at the stability of our financial results over a span of eight years,we believe the structural changes surrounding our dedicated video game platform business have had a meaningful impact.Nintendo Co.

19、,Ltd.11Now,lets discuss these structural changes.Nintendo Co.,Ltd.12Let me explain each of these four points.Nintendo Co.,Ltd.13The first change is the merging of platforms that were previously separated into home consoles and handheld systems.Before Nintendo Switch,we offered two types of dedicated

20、 video game platforms:home consoles and handheld systems,each with its own unique set of titles.By merging these two platforms,Nintendo Switch became a unified platform where popular series from both home consoles and handheld systems come together in one place.Nintendo Co.,Ltd.14The merging of the

21、two platforms allowed us to integrate our software development teams.By focusing our research and development on a single platform,we have achieved a more continuous stream of new titles without major gaps.Nintendo Co.,Ltd.15With Nintendo Switch,we introduced the concept of a portable home console w

22、hich has been well-received by our consumers worldwide.Consumers now purchase Nintendo Switch for many reasons.Not only do we see first-time users,but we also see consumers purchase additional hardware to add to their collection or replace their hardware with newer ones.At the same time,ownership pa

23、tterns have shifted from“one per family”to“one per person.”Although Nintendo Switch debuted as a home console,its sales also exhibit the characteristics of a handheld system.Nintendo Co.,Ltd.16The second change involves our touchpoints with consumers.In physical stores,we are collaborating with reta

24、ilers in Japan to create dedicated Nintendo spaces that offer both games and IP related merchandise.On the digital front,we have introduced more ways for consumers to purchase software,enhancing the user experience.Nintendo Co.,Ltd.17The increase in players connecting Nintendo Switch to the internet

25、 has helped us maintain touchpoints with consumers online post-purchase.Adding new gameplay to software through free updates has been one way we deliver fresh experiences to active users.Nintendo Co.,Ltd.18Additionally,we have been offering paid add-on content tailored to the characteristics of each

26、 title.Post-release initiatives not only encourage people to continue playing,but also help to kindle interest in a title long after it has been released,as well as inspiring people to revisit titles they have already played.Nintendo Co.,Ltd.19 The increase in Nintendo Switch titles that support onl

27、ine play has broadened the scope of gameplay we can offer our consumers.Enhancements to online tournaments and more online events also provide consumers with reasons to play their games over a longer period.Nintendo Co.,Ltd.20 Nintendo Switch Online is a service that makes playing Nintendo Switch ev

28、en more fun and more convenient.Membership has grown since the service started in 2018,driven by titles that support online play.As of September 30,2024,there were over 34 million members.Although we did observe a year-over-year decrease in membership,partly due to fewer new releases in the past yea

29、r focusing on online play,many people continue to enjoy Nintendo Switch Online.Additionally,the number of people opting for the higher-tier Nintendo Switch Online+Expansion Pack has been steadily increasing since the service began in 2021.Nintendo Co.,Ltd.21On October 31,we launched Nintendo Music,a

30、 music streaming service for Nintendo Switch Online members.Through a smart phone app,users can listen to music from their favorite titles even while they are not playing video games,where we hope they will further grow their fondness for Nintendo IP.Nintendo Co.,Ltd.22Contributions to earnings in t

31、he form of increased digital sales come from initiatives aimed at encouraging users to play our titles longer-term,in addition to our efforts to get more consumers to pick up software.The blue portion of the graph shows sales of downloadable versions of packaged software,and the yellow portion inclu

32、des Nintendo Switch Online,add-on content,and download-only software.Sales for both categories have increased significantly since the launch of Nintendo Switch.In the fiscal year ended March 2024,Nintendo Switch Online accounted for approximately half of the category shown in yellow.Nintendo Co.,Ltd

33、.23The third change involves our relationship with software publishers.With Nintendo Switch,we made significant improvements in the development environment and support for game developers.We further enhanced our support by launching Nintendo Developer Portal,a dedicated site for developers and publi

34、shers.This portal provides an environment that makes it easier for creators to develop games for Nintendo Switch.We also provide support for various middleware,including commonly used game engines,as well as more affordable development kits.Nintendo Co.,Ltd.24Thanks to these efforts,our partnerships

35、 with software publishers are now stronger than ever.Among the publishers shown here,there are some whom we only got to know when they released software for a Nintendo platform for the first time with Nintendo Switch.Nintendo Co.,Ltd.25In addition,with Nintendo Switch,we have seen a significant numb

36、er of releases from indie software developers.Many titles that embody the unique ideas of these indie developers frequently rank high on our download charts,adding further excitement to our platform.We highlight the appeal of indie titles through our Indie World special program,aiming to make both t

37、he development and sales aspects of our platform attractive to developers.Nintendo Co.,Ltd.26As a result,about half of the software units sold since the fiscal year ended March 2021 are titles released by other software publishers.This figure does not include the numerous download-only titles that h

38、ave been released by software publishers.Sales of both first-party titles and those released by other software publishers continue to achieve high levels of sales.Nintendo Co.,Ltd.27The fourth change is geographic expansion into growing markets.Since the launch of Nintendo Switch,we have accelerated

39、 our efforts in regions beyond Japan,North America,and Europe,to increase awareness of Nintendo and to encourage people to try our games.Many more Nintendo Switch first-party titles are now available in languages such as Traditional and Simplified Chinese,as well as Portuguese.This additional langua

40、ge support in growing markets allows consumers to enjoy titles previously hindered by language barriers.In addition to expanded language support,we worked on a series of initiatives to generate greater interest among consumers in regions such as Asia and Central and South America.This includes deplo

41、ying Nintendo eShop,supporting retailers to provide attractive shopping environments,and running promotions and commercials that feature local talent.Furthermore,we have offered pop-up stores and consumer interaction events,further garnering the interest of people outside of Japan,North America,and

42、Europe.Nintendo Co.,Ltd.28As a result,sales in regions outside Japan,the Americas,and Europe have increased 6.4-fold,and the share of hardware unit sales has surpassed 10%of total unit sales since the launch of Nintendo Switch.Nintendo Co.,Ltd.29Through these changes,we believe we are breaking away

43、from the traditional dedicated video game platform business cycle and are building a new foundation for the future.Nintendo Co.,Ltd.30In addition to structural changes surrounding our dedicated video game platform business,much of the improvement in our financial results since the launch of Nintendo

44、 Switch can be attributed to our efforts to increase the number of people who have access to Nintendo IP.So far,the response to our efforts to increase the number of people who have access to Nintendo IP has been quite positive.To spur further growth,we will continue to promote this idea over the me

45、dium-term and across hardware generations.Nintendo Co.,Ltd.31Because we consider our strength to lie in our IP assets,such as our characters which have grown alongside the memories consumers have made while playing our games over years,we have been actively utilizing our IP.One result of these effor

46、ts is the growth of many series titles on Nintendo Switch.Nintendo Co.,Ltd.32Among Mario related titles for Nintendo Switch,the 3D Super Mario series,Mario Kart,2D Super Mario series,and Mario Party series have each posted combined sales exceeding 30 million units.Nintendo Co.,Ltd.33The scope of sal

47、es has also expanded for franchises beyond Mario.Nintendo Switch entries in the Animal Crossing,Super Smash Bros.,Legend of Zelda,and Splatoon series have all become distinguished evergreen titles that support our dedicated video game platform business.Nintendo Co.,Ltd.34The Pokmon series,originally

48、 developed for handheld gaming systems,has also found a new home on Nintendo Switch,where the scope of sales has greatly increased.The cumulative sales volume for the series on Nintendo Switch is approaching 100 million units.Nintendo Co.,Ltd.35This chart compares the total sales volumes for series

49、titles on Wii U and Nintendo 3DS versus series titles on Nintendo Switch for each IP.Many series titles such as Pikmin,Kirby,Metroid,and XenobladeChronicles,have seen dramatic sales growth on Nintendo Switch.Nintendo Co.,Ltd.36We believe that the growth of Nintendo IP has been due more than anything

50、 else to the many people around the world playing and enjoying our games.Nintendo has carefully crafted each title to align with the characteristics of the IP.This approach to software development has remained consistent since we first developed titles for Nintendo Entertainment System.Nintendo Co.,

51、Ltd.37At the same time,in recent years we have been expanding Nintendo IP in a wide range of fields such as visual content,theme parks,mobile apps,and merchandise.These initiatives aim to create continuous touchpoints with not only current Nintendo game players but also those who are taking a break

52、from games,and even attract the attention of those who have not previously shown much interest in games.Nintendo Co.,Ltd.38In the field of visual content,we are making direct investments and are deeply involved in the planning and development of multiple productions.The Super Mario Bros.Movie,a join

53、t production with Illumination,was released in April last year and was viewed in theaters by approximately 170 million people.This film was enjoyed by people of all ages worldwide,regardless of gaming experience,making Mario more familiar to a broader audience than ever before.Looking ahead,we are c

54、reating a new animated film based on the world of Super Mario Bros.,set for theatrical release in April 2026.Additionally,we are planning and developing a live-action film of The Legend of Zelda.Nintendo Co.,Ltd.39SUPER NINTENDO WORLD,where people can immerse themselves in the world of Nintendo char

55、acters and games,is expanding to locations worldwide.SUPER NINTENDO WORLD first opened at Universal Studios Japan in Osaka in 2021.Since then,it has expanded beyond Japan,with a second location opening at Universal Studios Hollywood in 2023.Additional SUPER NINTENDO WORLD theme park areas are planne

56、d,starting in Orlando in the U.S.on May 22,2025,followed by Singapore.Furthermore,Universal Studios Japan plans to open a new area themed after Donkey Kong in 2024.Nintendo Co.,Ltd.40Our mobile apps are distributed in 164 countries and regions,allowing us to reach consumers beyond our dedicated vide

57、o game platforms and enhance global recognition of our IP.To date,we have distributed the apps shown on the slide,with cumulative downloads exceeding 920 million as of September 30,2024.Nintendo Co.,Ltd.41Our directly managed official stores include Nintendo TOKYO,Nintendo OSAKA,and Nintendo KYOTO i

58、n Japan and Nintendo New York in the U.S.Nintendo SAN FRANCISCO is scheduled to open in 2025.In addition to offering gaming systems,software,and merchandise,our official stores serve as hubs for communicating information about Nintendo,allowing people to demo software and participate in events.We ar

59、e expanding our pop-up stores to regions without permanent locations.Last year,we opened pop-up stores in Seoul,Singapore,and Hong Kong.This year,we have expanded to various European cities such as Paris,Zurich,and Lucca,as well as Taipei,creating more touchpoints with consumers.Nintendo Co.,Ltd.42N

60、intendo Museum opened in Uji City,Kyoto on October 2.Nintendo Museum is a place where,through the various products we have developed starting with hanafudaplaying cards all the way through Nintendo Switch,people can discover and experience the history of the entertainment that Nintendo has continuou

61、sly created over the years.Nintendo Co.,Ltd.43Since opening,the museum has welcomed many people,and we believe they are enjoying their visit while experiencing the passion and care that we put into crafting our products.Nintendo Co.,Ltd.44With our initiatives to expand access to Nintendo IP,we aim t

62、o continually create touchpoints with consumers and deepen their fondness for Nintendo IP.In addition,we work to try and create touch points that could spark interest in our video games.In the course of these initiatives,we also want to use Nintendo Account to build positive,long-term relationships

63、with each consumer.Nintendo Co.,Ltd.45Nintendo Account was introduced in December 2015,and has been broadly adopted due to widespread use of Nintendo Switch and Nintendo mobile apps.Today,the number of accounts has surpassed 366 million.Nintendo Co.,Ltd.46As previously communicated,we will continue

64、using Nintendo Account to build positive,long-term relationships with consumers who encounter our games through our various IP initiatives.Nintendo Co.,Ltd.47Until Nintendo Switch,there was no easy way to have consumers purchase and gameplay histories carry over across platform generations.As a resu

65、lt,our relationship with the consumers was interrupted when a new system was purchased.The introduction of Nintendo Account made it possible to tie consumers history to their personal account,enabling Nintendo to maintain a continuous relationship with the consumers across platform generations.We ha

66、ve communicated that we plan on making an announcement regarding the successor to Nintendo Switch during this fiscal year.We believe that it is important for Nintendos future to make use of Nintendo Account and carry over the good relationship that we have built with the over 100 million annual play

67、ing users on Nintendo Switch to its successor.Thus,we will make Nintendo Switch Online,a service based on Nintendo Account,available on the successor to Nintendo Switch.Nintendo Co.,Ltd.48Furthermore,Nintendo Switch software will also be playable on the successor to Nintendo Switch.In addition to be

68、ing able to play Nintendo Switch software they currently own,consumers will be able to choose their next purchase from a broad selection of titles released for Nintendo Switch.Further information about the successor to Nintendo Switch,including its compatibility with Nintendo Switch I explained toda

69、y,will be announced at a later date.Nintendo Co.,Ltd.49Lastly,I will discuss the utilization of our cash reserves and our ESG initiatives.Nintendo Co.,Ltd.50As previously explained,in addition to our conventional investments in R&D and capital,we are also implementing initiatives to utilize cash on

70、hand to accumulate software assets and to establish a foundation for maintaining and expanding our consumer relationships.Regarding the accumulation of software assets,alongside our initiatives to expand the development framework for game software within the Nintendo group,we are also pursuing busin

71、ess opportunities in other areas of entertainment that have a high affinity with the game business,such as visual content.In our effort to maintain and expand our relationships with consumers,we will promote infrastructure development and partnership building in order to strengthen and expand our to

72、uchpoints with consumers,centering on Nintendo Account.Since its announcement in 2021,we have continuously discussed and reviewed this cash utilization plan,and we now expect the scale of investment to exceed our initial expectations.Specifically,investment in the games category is expected to grow

73、significantly due to increased capital expenditure on Corporate Headquarters Development Center,Building No.2(tentative name),which will enhance our research and development capacity.Furthermore,in the non-game entertainment category,we plan to further utilize cash on hand to help continue deliverin

74、g movies and other forms of visual content.Nintendo Co.,Ltd.51In the field of games,we are expanding and enhancing our software development capabilities within the Nintendo group.From 2017 to 2024,our R&D staff has increased by 1.5 times through recruitment as well as acquisitions of partner game de

75、velopment companies.Nintendo Co.,Ltd.52As part of the strategy to expand our development base,we plan to build Corporate Headquarters Development Center,Building No.2(tentative name).This second development center will be equipped with facilities for software development as well as a hardware resear

76、ch and development facility and will play an important role in strengthening our future R&D capability.Nintendo Co.,Ltd.53Here is a list of our research and development subsidiaries.Since 2021,we have added Next Level Games,SRD,and Shiver in game development,Nintendo Pictures in visual content for n

77、on-game entertainment,and Nintendo Systems as part of our effort to maintain and expand relationships with our consumers.While we do not rule out the possibility of further mergers and acquisitions,our priority is to organically expand the organization so that new staff members are able to fully lea

78、rn and understand our creative culture.Nintendo Co.,Ltd.54With the goal of putting smiles on the faces of everyone Nintendo touches,we aim to contribute to the lives of people worldwide,society,and the environment by continuing ESG initiatives that are uniquely Nintendo.As for the environment,Ninten

79、do exercises care with the environmental footprint of our offices and embarks on various initiatives to reduce the environmental impact of our products.These initiatives span the design stage to post-sales repair and support and continue through to recycling.In the area of society,we implement a var

80、iety of initiatives,such as internal standards for safe and durable design and the integration of Parental Controls features,to ensure that consumers can play our games with peace of mind.In addition,we have established the Nintendo CSR Procurement Guidelines and we are promoting CSR activities thro

81、ughout our supply chain.Among our employee initiatives,we are working to enhance our systems and promote their use,to provide an environment where each employee can utilize their personal strengths to maximize their potential.Going forward,in order to bring smiles to people around the world through

82、entertainment,we continue to cherish our heritage of the Nintendo DNA originality,flexibility and sincerity which we uphold as ideals for our employees.In the area of governance,we are working to ensure diversity in the Board of Directors by appointing women and foreign nationals to director roles,a

83、s well as maintaining objectivity and transparency in our compensation Nintendo Co.,Ltd.55system,including stock-based compensation.We also strive to disclose information appropriately in a fair and timely manner,and proactively create opportunities for conversations with a wide range of institution

84、al investors both within and outside of Japan so as to promote understanding of our company.Nintendo Co.,Ltd.55Nintendo will continue to meet peoples expectations by offering incredibly fun and unique entertainment experiences.This commitment drives us to create unique integrated hardware and softwa

85、re products and services,solidifying our position in the home entertainment field.Additionally,by expanding our IP,offering value-added services,and striving to be a brand that provides safety and peace of mind,we will continue to build trust with consumers that across generations.Nintendo Co.,Ltd.56We will continue to build long-term relationships with each of our consumers and,through entertainment offerings that are uniquely Nintendo,strive to bring smiles to as many people as possible.Nintendo Co.,Ltd.57This concludes todays presentation.Thank you for joining us.Nintendo Co.,Ltd.58