Nintendo Announces 10% Pay Raise Amid Revised Financial Projections

Despite a downward revision in its financial forecast, Nintendo is set to implement a 10% salary increase for its employees, aligning with recommendations from the Japanese government to boost wages in tandem with inflation. This move was disclosed during an earnings call, where President Shuntaro Furukawa underscored the significance of securing the company's workforce for sustained growth. The announcement comes on the heels of Nintendo's financial report, which revealed a 5.8% decline in net profit for the nine months ending December 31, 2022. The company has also adjusted its full-year forecast, anticipating a net profit of ¥370 billion ($2.8 billion), marking a 7.5% decrease from its previous projection. Additionally, the report highlighted a 21.3% year-on-year decrease in hardware sales, while Pokémon Scarlet and Violet achieved combined sales of 20.61 million units.