As Nintendo is reporting their earnings for the fiscal year ending March 31st, 2022, they’ve also announced that they’ll be splitting their stock 10-for-1 in October 2022. This move will increase the liquidity of their shares by lowering the price-per-share in order to better appeal to retail investors. Nintendo also announced plans to buy back ¥56.36 billion worth of its own stock, which will happen tomorrow, May 11th.
The news of the stock split and buyback comes amid a forecasted slowdown in Nintendo Switch sales, as they expect to sell only 21 million units in the fiscal year ending March 31st, 2023, a 9% decrease from the previous year’s 23.06 million. The decreasing Switch sales are expected to be related to the global semiconductor shortage and COVID-19 related delays and restrictions.
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Written by Jaxson Tapp
As a lover of gaming and the written word, Jaxson currently fills his time not only with playing games, but also writing about them. Ready for anything, Jaxson’s passion for puzzle games, JRPGs, tough platformers, and whimsical indies helps him bring a well-rounded opinion to Nintendo Wire’s reporting.
