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The Nintendo Switch has performed exceedingly well, and as a result, Nintendo is in a “strong cash position,” and the company has now outlined how it will spend some of its money.
In an investor meeting, Nintendo outlined how it would spend 450 billion yen ($3.95 billion USD) in the years ahead as part of its “cash utilization” strategy. This includes up to 100 billion yen ($879 million) on game development, up to 50 billion yen ($440 million) on non-gaming projects like movies, and up to 300 billion yen ($2.6 billion) on “maintaining and expanding relationships” with consumers through new infrastructure projects. This is in addition to Nintendo’s usual investments in the areas of research and development and general capital expenditure. Nintendo did not provide a timeline for when it plans to spend this cash in these respective areas.
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Now Playing: Who Is The Nintendo Switch OLED Model For?
“As a company that brings smiles through entertainment, Nintendo’s goal has always been to create original entertainment. In a business with extreme fluctuations like the entertainment business, the basic policy of our financial activities has been to secure cash and other liquid assets so we can continually offer products and services that constantly deliver new surprises,” Nintendo said.
The Nintendo Switch “exceeded our expectations” as it relates to the console’s business performance, Nintendo said, and as a result, the company has been in a “strong cash position” over the past few years. Due to this, Nintendo said it has reconsidered how to best utilize the cash in “strategic and meaningful ways.”
Also during the briefing, Nintendo said it aims to grow its game development organically. However, the company said it is “not dismissing the possibility of M&A activities,” referring to mergers and acquisitions.
For Nintendo’s non-gaming investment opportunities, the company said it will create “new video content” after the Super Mario movie in 2022. This could be a reference to the Seth Rogen solo Donkey Kong movie that has been rumored. Nintendo’s Shigeru Miyamoto said during an earnings Q&A that Nintendo will make more movies, though it will be discerning it its approach.
The Nintendo briefing was stacked with news–check out the stories below to learn more.
Switch OLED Off To A Good Start, Could Help Nintendo Do Something It’s Never Done BeforeAmid Seth Rogen Donkey Kong Rumors, Miyamoto Suggests More Nintendo Movies Are ComingNintendo Reiterates Plan To Launch New Console Before 2100Nintendo Switch Online Hits 32 Million Members, Nintendo Accounts Hit 250 MillionNintendo Switch: Top 10 Best-Selling Games List Still Has Mario Kart At The TopNintendo Switch Sales Climb To 93 Million, But Company Warns Of “Continued Uncertainty”Mario Kart 8 Deluxe Overtakes Mario Kart Wii To Become Highest-Selling Mario Kart Game EverBest Switch Exclusives: 20 Must-Play Games Only Available On Nintendo Switch
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