Nintendo Names New CEO After Success of Switch

Nintendo Names New CEO After Success of Switch

OSAKA, Japan—


NTDOY 1.60%

Chief Executive

Tatsumi Kimishima

mentioned Thursday he would step down in June following the success of the Switch game machine, which helped the corporate greater than double its income in the latest fiscal yr.

Nintendo mentioned Mr. Kimishima, 68 years outdated, could be succeeded by

Shuntaro Furukawa,

presently a managing government officer. Mr. Furukawa, 46, has labored at Nintendo since 1994.

Mr. Kimishima, a former banker, took the highest function at Nintendo in 2015 following the dying of longtime CEO

Satoru Iwata.

Under his watch, Nintendo rolled out the Switch—which can be utilized each as a hand-held sport participant and as a living-room console—in March 2017. Sales up to now come to about 18 million, in accordance with Nintendo, which says 69 million copies of video games for the platform have been offered.

Nintendo mentioned Thursday it goals to promote 20 million items within the present fiscal yr, which ends March 2019. Analysts referred to as the estimate cautious.

For fiscal 2017, which ended March 2018, Nintendo reported an working revenue of ¥177.6 billion ($1.6 billion), up from ¥29.four billion the earlier fiscal yr. Revenue greater than doubled, to ¥1.06 trillion from ¥489.1 billion.

Write to Takashi Mochizuki at [email protected]

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