Nintendo is increasing the salary of its employees by 10% in Japan

nintendo kyoto
Image: Nintendo

Despite a drop in sales and profit for Nintendo in its third quarter, it will reportedly increase the base salaries of its employees by 10% in its home country.

A Reuters report reveals that the Japanese video game giant is taking steps to ensure the “long-term growth” of its workforce. It follows the calls of the country’s Prime Minister, Fumio Kishida, asking local companies to increase the wages of workers to combat inflation.

“It’s important to our long-term growth to secure our workforce,” Nintendo President Shuntaro Furukawa said at an earnings 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 earnings are linked to inflation within the local economy, as well as fluctuations in the currency markets.

The company previously said it doesn’t plan to raise prices for the software or console in the near future, but is open to a price increase if circumstances change. He’s also kept quiet about a possible successor to the Switch.

On a more positive note, the company has seen strong growth in digital game sales and Switch system sales are fast approaching the 1 billion mark. You can learn more in the following stories:

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