Similar to a move in August 2021.
The Switch-led successes for Nintendo over the last five years have enabled the company to once again generate significant profits and enhance its already impressive cash reserves. While investment has clearly gone into game development, will continue in terms of hardware R&D, and of course into major collaborations in areas like theme parks and the upcoming Mario movie, the company has also used its cash wealth for some other accounting and financial manoeuvres.
In August last year the company outlined plans to spend up to $900 million buying back shares to then ‘cancel’ them, a move to adjust the balance of company finances and investments. In today’s annual financial results a similar plan was outlined, though there is a key difference in the focus.
Read the full article on nintendolife.com
