Nintendo raises the salary of its employees by 10% in Japan

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Despite declining sales and profits, Nintendo third quarterit is reported to be raising the base pay of its employees by 10% in its homeland.

Report Reuters reveals that the Japanese video game giant is taking steps to ensure “long-term growth” for its workforce. This followed calls from the country’s prime minister, Fumio Kishida, asking local companies to increase wages for workers to fight inflation.

“It is essential to our long-term growth that we keep our workforce,” said Nintendo President Shuntaro Furukawa at an earnings and loss briefing. (via Reuters)

Nintendo also revised its annual software sales forecast from 210 million units to 205 million units and lowered its Switch sales target from 19 million to 18 million for the next period. The revised forecast and lower revenues are due to inflation in the local economy, as well as fluctuations in foreign exchange markets.

The company has previously said it has no plans to raise prices for software or consoles in the near future, but is open to price increases if circumstances change. Nothing is known about a possible successor to the Switch either.

On a more positive note, the company has seen significant growth in digital game sales, with Switch system sales fast approaching the one billion mark. You can learn more from the following stories:

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