economy
‘Mamma mia!’: Trump tariffs refund ignites 53% profit spike at Nintendo
Profit jump fuelled largely by unknown US refund amount as Japanese video game firm records quarterly sales drop
TL;DR
- Nintendo's profits surged 53.5% to ¥147.4bn, exceeding forecasts.
- The profit increase was significantly boosted by a refund on US tariffs previously imposed by Donald Trump.
- Overall sales revenue dropped by 10% compared to the same period last year.
- Sales of the Switch 2 console maintained strong momentum, and popular games performed steadily.
- Nintendo is facing a class action lawsuit for allegedly not passing tariff refunds onto consumers.
- The company is also impacted by new tariffs imposed by the Trump administration on Japan.
- A coalition of US states is suing the Trump administration over recent levies, potentially leading to further refunds.