At the close of the Japanese business day today, Nintendo released their financial results for the July - September quarter of the fiscal year, and it has resulted in some modifications to their expectations DOWNWARD for the first time in a while.

All figures quoted in yen (¥), for comparison the US$ figures are listed based on a rate of ¥152.224 = $1.

Financial Indicators

Revenue: ¥276.661bn (~$1.817bn), down 19.78% year over year

Operating income: ¥67.003bn (~$440m), down 29.21%

Ordinary income: ¥33.631bn (~$221m), down 73.36%

Digital sales: ¥79.2bn (~$520m), down 19.1%, 56.3% of software in the fiscal year is digital

Mobile and IP revenue: ¥16.5bn (~$108m), down 28.88%

Hardware Shipments

The Switch's life to date sales now sit at 146.04m, representing a 2.62m shipment quarter. The breakdown is 1.26m OLED models, 720,000 standard Switch models, and 640,000 Switch Lites (note that the sole special edition hardware this quarter was the Echoes of Wisdom-branded Lite).

To pass the DS in lifetime sales would require 7.98m systems sold, while the PlayStation 2 needs 12.66m units.

New Software

Nintendo had three new software launches in the quarter (compared to one, Pikmin 4, in the same period last year). The Legend of Zelda: Echoes of Wisdom has the highest shipment total of the year thus far, with 2.58m units shipped in the first five days, while neither Nintendo World Championships: NES Edition nor Emio: The Smiling Man Famicom Detective Club have reported more than a million shipments.

Two releases from last quarter received updates, with the Paper Mario: Thousand Year Door remaster reporting 1.94m units shipped and Luigi's Mansion 2 HD 1.57m.

Catalogue Sales

The top 10 games in their totality remain unchanged, with Mario Kart 8 Deluxe now reaching lifetime shipments of 64.27m units. The updated totals can be found here. Notable is that it appears Scarlet and Violet will soon pass Sword and Shield as the second best selling series of games in Pokemon franchise history.

Other Announcements

Nintendo reported ¥22.4bn in foreign exchange LOSSES after reporting ¥30.6bn in gains during the first quarter results, which caused the sharp drop in operating income listed above.

The company also made several modifications to their forecasts, all of them downward. Revenue projections were reduced by 5.2% (to ¥1280bn), operating profit down 10% (to ¥360bn), Switch hardware from 13.5m units shipped to 12.5m, and software down from 165m to 160m - acknowledging the slowing of Switch sales in the system's eighth year of sale.