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Nintendo switches president after forecasting best annual profit in nine years

Nintendo has been on a winning streak with its Switch console flying off the shelves since its launch last year

In addition to the above, Kimishima will retire as the representative director and president of Nintendo come June 28th. The 15.1 million figure just edges past its most recent prediction, which was 15 million.

Given the trajectory of the Switch's success, Nintendo has readjusted its goalposts by estimating that the console will hit 20 million sales by March 2019, which would in turn make the company a profit of 225bn yen off the back of 1.2tn yen in generated revenue. Considering how, after the release, the number of sold Switch consoles was 7.23 million, this is an expected decline in sales since all the hype is gone.

When it comes to software, sales are in general getting slower in this period of the year. We also don't know when Mario Kart Tour, the company's next mobile effort, is headed to smartphones.

"Consumers have been very receptive to the new concept introduced by Nintendo Switch as a home gaming system that they can take with them to play anytime, anywhere, with anyone, which helped it maintain its favorable momentum during this fiscal year". And finally, the sales for 3DS have been reported at a little over half a million in the past three months. But if you need concrete proof that Nintendo's hybrid console has taken over the world, just look at the numbers. The combined software sales results for this fiscal year reached 63.51 million units. Despite just two-and-half years in the job, he's certainly made his mark in the company's history.

Earlier today Nintendo announced that current president Tatsumi Kimishima is going to step down and in his place, the 46-year-old Shuntaro Furukawa will step in as president of one of the oldest and most cherished companies in the video games industry. The only thing that might slow down its profitability in the future is the occurrence of pirated games for that console.

The newer, younger president joined Nintendo in 1994 and has a background in marketing, holding a litany of different roles within the company between then and now. "That is why we want to apply substantial resources to the online service, with the thinking that we will devote our energies to making this a for-pay service", Nintendo president Tatsumi Kimishima said at the time.