Home Nintendo is now Japan’s richest company at $11bn

Nintendo is now Japan’s richest company at $11bn

Nintendo is reportedly Japan’s richest company, according to its latest financial report for the quarter. Toyo Keizai, a business magazine publisher, stated that the Japanese gaming company had over $11.44 billion (1.7186 trillion yen) in cash assets, believed to be bolstered by the long-running success of the Nintendo Switch and the recent box office sensation “The Super Mario Bros. Movie.”

In a statement, the company announced its first new game in 11 years, “Super Mario Bros. Wonder,” got off to a ‘strong start,’ selling almost 12 million units. At the same time, other new titles such as “The Legend of Zelda: Tears of the Kingdom,” “Pikmin 4,” and “Mario Kart 8 Delux2′ collectively sold around 30 million units.

The Switch, now in its seventh year since launch, reportedly continues to enjoy steady sales. Hardware units sold reached 13.74 million, a slight dip of 7.8% year-on-year, while software sales saw a 4.7% decrease year-on-year, totaling 163.95 million units. 

Despite these decreases, the influential game manufacturer said the platform’s performance remains strong, buoyed by a broad portfolio of million-seller titles, now numbering 24 for the period, including offerings from third-party developers.

It also reported that the company has maintained zero debt, a policy it has followed since a major downturn in 1965 nearly led to its bankruptcy. This new data ranks Japanese companies on wealth and subtracts out debt.

However, due to the delay in announcing a Switch successor, Nintendo’s shares collapsed by nearly 9% in early Tokyo trading on Monday. The 8.8% drop to below ¥8,200 was the biggest decline in over two years.

Richest video game companies in Japan

In the list by Toyo Keizai, Bandai Namco secured the 25th position, while SEGA Sammy and Capcom ranked 63rd and 88th, respectively. Other Japanese video game studios on the list are Square Enix, Konami, GungHo, and Kadokawa. Sony is not featured due to its significant amount of debt.

Featured image:

About ReadWrite’s Editorial Process

The ReadWrite Editorial policy involves closely monitoring the tech industry for major developments, new product launches, AI breakthroughs, video game releases and other newsworthy events. Editors assign relevant stories to staff writers or freelance contributors with expertise in each particular topic area. Before publication, articles go through a rigorous round of editing for accuracy, clarity, and to ensure adherence to ReadWrite's style guidelines.

Suswati Basu
Tech journalist

Suswati Basu is a multilingual, award-winning editor and the founder of the intersectional literature channel, How To Be Books. She was shortlisted for the Guardian Mary Stott Prize and longlisted for the Guardian International Development Journalism Award. With 18 years of experience in the media industry, Suswati has held significant roles such as head of audience and deputy editor for NationalWorld news, digital editor for Channel 4 News and ITV News. She has also contributed to the Guardian and received training at the BBC As an audience, trends, and SEO specialist, she has participated in panel events alongside Google. Her…

Get the biggest tech headlines of the day delivered to your inbox

    By signing up, you agree to our Terms and Privacy Policy. Unsubscribe anytime.

    Tech News

    Explore the latest in tech with our Tech News. We cut through the noise for concise, relevant updates, keeping you informed about the rapidly evolving tech landscape with curated content that separates signal from noise.

    In-Depth Tech Stories

    Explore tech impact in In-Depth Stories. Narrative data journalism offers comprehensive analyses, revealing stories behind data. Understand industry trends for a deeper perspective on tech's intricate relationships with society.

    Expert Reviews

    Empower decisions with Expert Reviews, merging industry expertise and insightful analysis. Delve into tech intricacies, get the best deals, and stay ahead with our trustworthy guide to navigating the ever-changing tech market.