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Nintendo to increase wages 10% despite lowered forecast

"It's important for our long-term growth to secure our workforce," president Shuntaro Furukawa said

Nintendo has announced plans to raise its employees' pay by 10% despite its lowered financial forecast.

According to Reuters, this is in line with recommendations from the Japanese government, with Prime Minister Fumio Kishida advising companies to increase wages alongside inflation.

Nintendo shared the information in an earnings call on Tuesday, with president Shuntaro Furukawa saying: "It's important for our long-term growth to secure our workforce."

In its financial results shared earlier this week, Nintendo reported net profit down 5.8% year-on year for the nine months ended December 31, 2022.

The platform holder lowered its full year forecast, with net profit expected to reach ¥370 billion ($2.8 billion) for the full fiscal year, down 7.5% compared to previous expectations shared in November.

Elsewhere in the report, hardware sales were down 21.3% year-on-year, and Pokémon Scarlet and Violet sold a combined 20.61 million units. You can read our full report on Nintendo's financial results on this page.

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Marie Dealessandri avatar
Marie Dealessandri: Marie joined in 2019 to head its Academy section. A journalist since 2012, she started in games in 2016. She can be found (rarely) tweeting @mariedeal, usually on a loop about Baldur’s Gate and the Dead Cells soundtrack. GI resident Moomins expert.
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