×

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.”

Popular on Variety

More Gaming

  • Insomniac Games - Spider-Man

    Sony Is Acquiring Insomniac Games, Studio Behind 'Spider-Man' for PS4

    Sony Interactive Entertainment clinched a deal to acquire longtime PlayStation games developer Insomniac Games in its entirety, the company announced Monday. Financial terms of the deal were not disclosed “due to contractual commitments,” according to Sony. Insomniac Games is the developer of PlayStation 4’s top-selling “Marvel’s Spider-Man” and other PS games, including the “Ratchet & [...]

  • westworld awakening art

    HBO Launches 'Westworld Awakening' VR Game With Survios

    Ever wanted to enter the world of “Westworld?” Now you can — except it won’t exactly be like you might have imagined it. Instead of being one of those guests living out their fantasies, you will be a host, slowly coming to grips with your life being an elaborate illusion. “Westworld Awakening” has been produced [...]

  • Telling Lies - Logan Marshall-Green

    Sam Barlow's 'Telling Lies' Government-Surveillance Thriller Game Sets Release Date

    After more than two years in the works, “Telling Lies” — the investigative thriller from acclaimed game creator Sam Barlow — is ready to take the stage. The game, produced with and released by Annapurna Interactive, will be available next Friday, Aug. 23, via Steam and Apple’s Mac and iOS app stores. “Telling Lies” will [...]

  • David Messinger, Activision Blizzard

    Activision Blizzard Hires CAA Veteran David Messinger as CMO

    Activision Blizzard tapped David Messinger, a former 15-plus-year veteran of CAA, as its first corporate-wide chief marketing officer. Messinger, based in Santa Monica, reports to Coddy Johnson, Activision Blizzard’s president and COO. It’s the first time the video-game company has appointed a CMO who will oversee the global marketing operations across all of Activision Blizzard [...]

  • Editorial use onlyMandatory Credit: Photo by

    Oculus Co-Founder Nate Mitchell Is Leaving Facebook

    Oculus co-founder Nate Mitchell is leaving Facebook 7 years after launching the first Oculus Rift headset with a Kickstarter crowdfunding campaign. Mitchell announced the move on Reddit Tuesday, calling it “bittersweet news.” Mitchell said that he would take some time off to spend with his family. And while he committed to still being involved in [...]

  • nomadic seoul

    Nomadic Expands Abroad, Opens VR Center in Seoul

    Location-based virtual reality (VR) startup Nomadic is getting ready for an international expansion: The company will open its first VR center outside of the States in South Korea later this month. The new location, housed in the CGV Gangbyeon multiplex in Seoul, is being opened in partnership with theater chain CGV and technology provider CJ [...]

  • Singularity 6 - Anthony Leung and

    ‘Meaningful’ Games Start-Up Singularity 6 Raises $16.5 Million Round Led by Andreessen Horowitz

    Singularity 6, the start-up founded by ex-Riot Games developers that’s aiming to create a community-oriented game where players “can feel like they are valued and belong,” closed $16.5 million in Series A financing. The funding round was led by venture-capital firm Andreessen Horowitz, with participation from seed investor London Venture Partners (LVP), which previously put [...]

More From Our Brands

Access exclusive content