Nintendo Unveils 10-For-1 Stock Split After Lackluster Results
- Weak yen likely to prop up Nintendo profit rest of this year
- Company’s Switch console now more than five years old
Nintendo Co. Switch game consoles and Switch Lite game consoles inside the Nintendo TOKYO store in Tokyo, Japan.
Photographer: Kiyoshi Ota/BloombergThis article is for subscribers only.
Nintendo Co. unveiled a 10-for-1 stock split from October, issuing an appeal to investors as the Mario creator struggles to revitalize a five-year-old Switch console and overcome a global chip shortage.
The Kyoto-based company projected full-year operating income below analysts’ estimates after reporting a mere 0.6% rise in profit for the March quarter. It’s expecting to sell 21 million Switch devices this year, shy of the 21.7 million anticipated.