The Japanese game maker that lost 23.2 billion yen ($193 million) last year is on a surprising comeback with hit game titles like Super Smash Bros. and a new line of interactive figurines called Amiibo. At least eight analysts raised profit estimates or ratings since September, with the two most recent calling for profit to triple to 36.8 billion yen.
Such results would mark a vindication of sorts for President Satoru Iwata, who stuck with a strategy of selling his games only on Nintendo devices rather than offering them on smartphones and tablet computers. With Super Smash Bros. and Mario Kart 8 gaining popularity, the Kyoto-based company projects it will sell 3.6 million Wii U consoles this year and take in $1 billion from Amiibo sales in the U.S. alone.
“Nintendo has picked up good momentum heading into the Christmas season,” said Tomoaki Kawasaki, a Tokyo-based analyst with Iwai Cosmo Securities Co., who raised his rating to neutral plus last month. “This time they have a hit lineup. Amiibo represents a new revenue source, and we are watching it very closely.”
“Last year was just a bad year for the game business, and this year is a recovery,” said Hideki Yasuda, an analyst at Ace Research who raised the stock to neutral on Oct. 30. “Add to that Amiibo, and you’re likely to see a considerable improvement in earnings.”
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