Nintendo full-year ¥2.3T revenue, net profit +52% — a record high.
Switch 2 sells 19.86M units in year 1, but "price hike" and "next-year profit drop" land together
Nintendo's FY March 2026 results, announced May 8, set a new record: revenue ¥2.313T (+98.6% YoY), net profit ¥424B (+52.1%). The new Nintendo Switch 2 sold 19.86M units in its first full year, and the flagship title Mario Kart World hit 14.7M copies — the hardware transition is going smoothly. But on the same day, Nintendo announced a ¥10,000 price hike on the Switch 2 and guided to lower profit and dividend for the next year. The stock rebounded +3.55% the day after earnings, but the market's verdict is clearly split.
Inside the Numbers: What Lifted Nintendo
FY March 2026 results can be summarized in three big numbers. First, revenue +98.6%, roughly a doubling — directly driven by the full launch-year effect of the Switch 2. Second, net profit +52.1%. Profit growth lagged revenue, but the first year carries front-loaded marketing and hardware production costs, so this is within plan. Third, Mario Kart World at 14.7M copies. The attach rate against the 19.86M Switch 2 units (software per hardware) is about 0.74 — an exceptionally high level even by series standards.
Nintendo FY March 2026 full-year highlights
| Metric | Actual | YoY |
|---|---|---|
| Revenue | ¥2.313T | +98.6% |
| Net profit | ¥424B | +52.1% |
| Switch 2 units sold | 19.86M units | New hardware Y1 |
| Mario Kart World | 14.7M copies | Attach rate 0.74 |
| Next-year guidance | — | Lower profit & dividend |
The Same-Day Price Hike — The Weight of "Medium- and Long-Term Business Viability"
On the same May 8, Nintendo announced that the domestic Switch 2 would be raised by ¥10,000. A price revision just one year after launch is extremely unusual in Nintendo's history. The company's explanation is clear: "We judged that recent changes in the market environment will have a medium- and long-term impact on the global business viability of our dedicated game hardware business." Specifically, they cited a surge in component costs centered on memory, FX, and oil price trends.