Young master

26 Apr 2018 By Quentin Webb

The maker of hit video game Splatoon is getting a 46-year-old boss. That’s refreshing in an ageing country where seniority counts for so much. Youth can be a liability too, as evidenced by the growing pains of Uber or Facebook. But Nintendo’s business is a young man’s game.

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Nintendo said on April 26 that it made a net profit of 140 billion yen ($1.28 billion) in the year ending March 31, a 36 percent increase on the previous year, as revenue more than doubled to nearly 1.1 trillion yen.

The Japanese video games company said it sold more than 15 million Switch consoles, devices that can be played at home or on the move, during the fiscal year.

The company’s board picked Managing Executive Officer Shuntaro Furukawa to replace Tatsumi Kimishima as president, subject to shareholder approval.

Shares in Nintendo have risen more than 64 percent in the last 12 months, giving the company a market value of nearly $50 billion.

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