×

Nintendo President Retires as Revenue Doubles

Nintendo president Tatsumi Kimishima, who took on the role after Satoru Iwata died in 2015, announced his retirement today, saying he believes the company needs to be led by younger management.

Shuntaro Furukawa, 46, will replace the 68-year-old Kimishima on June 28. The news comes as Nintendo announces it more than doubled its revenue through strong Nintendo Switch sales in the most recent fiscal year.

Kimishima oversaw the launch of the Switch in March 2017, which went on to sell 18 million units and 69 million copies of games. Nintendo believes it can sell 20 million more of the console in this fiscal year, which ends March 2019.

Incoming Nintendo president Furukawa joined Nintendo in 1994. He has been the outside director of the Pokemon Company since 2012 and the in charge of the global marketing department since 2016.

Bloomberg reports that Furukawa said he hopes to balance Nintendo’s traditions of originality and flexibility.

“I grew up playing the Famicom and come from that generation,” Furukawa said. “Now as a member of management with Super Mario’s creator Shigeru Miyamoto, I have a lot of respect for him. On the other hand, with this new job that can’t just be it, so I expect to say what needs to be said to run the company.”

Nintendo just hit its goal of selling 15 million Switch in its 2017 fiscal year, with the company moving 15.05 million of the hybrid console in the fiscal year ending March 2018.

The company said in its fiscal report Thursday that it plans to lean into the Switch’s ability to allow anyone to play anywhere, anytime in the coming fiscal year with an aim of reaching an even broader market. In part, the company says it plans to do that through the release of a variety of atypical games, like the company’s cardboard construction system Nintendo Labo, which came out in April, the upcoming release of “Mario Tennis Aces” in June, and the 2018 release of the next installment in the “Super Smash Bros.” franchise. Nintendo still plans to activate the Nintendo Switch Online paid service in September as well.

“Our goal is to take full advantage of the platform by continuously introducing compelling new software while further increasing sales of popular titles that are already in the market,” the report read.

While the Nintendo Switch serves as both a home console and handheld system, Nintendo will continue to support its portable Nintendo 3DS, which now has an install base of more than 72 million.

Finally, the company continues its work on slowly increasing its smartphone offerings, including the upcoming release of a “Mario Kart Tour.”

More Gaming

  • DF-10193 – L-R: Ben Hardy (Roger Taylor),

    'Bohemian Rhapsody' Leads MPSE Golden Reel Awards for Sound Editing

    “Bohemian Rhapsody” followed up love from Cinema Audio Society sound mixers with a pair of honors at the Motion Picture Sound Editors’ 66th annual Golden Reel Awards Sunday night. The musical biopic scored wins for dialogue and ADR as well as sound editing in a musical. The film is nominated for sound editing at the Oscars [...]

  • Netmarble Operating Profit Nearly Halved in

    Netmarble Operating Profit Nearly Halved in 2018

    Korea’s foremost mobile game publisher Netmarble experienced a 43.5% decrease in operating profit in the fourth quarter of 2018, a 59% drop year-over-year, the company announced in its financial report. While Netmarble’s releases “Lineage 2 Revolution,” “Marvel Future Fight,” “Marvel Contest of Champions,” and “Cookie Jam” have steadily performed in North American and Japanese markets [...]

  • The Razer Game Store Is Closing

    Razer Game Store Closing Feb. 28, Less Than Year After Launch

    The Razer Game Store will close on February 28 at 1am PST, the company announced in a blog post. This comes less than a year after its launch last April. The shutdown is part of “the company’s realignment plans,” according to Razer. “It has been a privilege for us to recommend and deliver great digital [...]

  • GTA Online

    America's Biggest Labor Federation Asks Game Developers to Unionize

    A leading figure from America’s biggest labor organization penned an open letter to game developers encouraging unionization across the games industry. AFL-CIO secretary-treasurer Liz Shuler took to Kotaku with a post that asks workers in the games industry to fight for adequate pay, sensible work hours, and against toxic work conditions. “We’ve heard the painful [...]

  • Take on the Demogorgon in 'Stranger

    Take on the Demogorgon in 'Stranger Things' Dungeons and Dragons Set

    Hasbro will release a “Stranger Things” inspired Dungeons & Dragons starter set this spring, according to a press release. The starter kit has everything players need to start playing Dungeons & Dragons: A “Stranger Things” adventure book, a rulebook, five character sheets, six dice, a Demogorgon figure, and an additional, paintable Demogorgon figure. The starter kit will [...]

  • Tencent Wants to Bring 'Apex Legends'

    Tencent Wants to Bring 'Apex Legends' to China (Report)

    Tencent Holdings is in talks with Electronic Arts to distribute the publishers’ “Apex Legends” in China as of Friday, according to a “person with direct knowledge of the matter” the South China Morning Post reported. Tencent, video game industry giant, already distributes top battle royale games “Fortnite” and “PlayerUnknown’s Battlegrounds” in China. While Tencent is [...]

  • Pokemon Go

    Proposed 'Pokémon Go' Lawsuit Settlement May Remove Poké Stops, Gyms

    A proposed settlement in the class action lawsuit against “Pokémon Go” developer Niantic could remove or change a number of Poké Stops and Gyms in the popular augmented reality game. The proposed settlement was filed in a California court on Thursday and applies to anyone in the U.S. who owns or leases property within 100 meters [...]

More From Our Brands

Access exclusive content