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Hindustan Times
2 days ago
- Business
- Hindustan Times
Nintendo sells record 3.5 million Switch 2 consoles in four days
A chronic shortage may spur consumers to turn elsewhere and flatten momentum. (Nintendo) Nintendo Co. sold 3.5 million-plus units of the Switch 2 in just four days, a record-breaking start for the company's first new console in eight years. The numbers, released by the company Wednesday, bode well for its target to sell 15 million units by March next year. They also reinforce analysts' projections that Nintendo may be able to sell far more if it can pump up supply. Catching up with runaway demand is the first major challenge Nintendo now faces. President Shuntaro Furukawa has apologized after customers came away from lotteries for the Switch 2 empty-handed. The Kyoto-based company has asked its partners to speed up production of the console. It's also secured agreements from Japanese online marketplace operators such as Rakuten Group Inc., Mercari Inc. and LY Corp. to discourage resellers from taking advantage of the hardware's scarcity. A chronic shortage may spur consumers to turn elsewhere and flatten momentum. Nintendo's priority is to sustain launch momentum for as long as possible, Furukawa told analysts at an earnings briefing in May. That's more difficult due to the Switch 2's higher retail price compared with its predecessor and growing weakness in the global economy. Furukawa has also warned the company may consider raising the console's price in the future, depending on US President Donald Trump's tariff measures. What does Bloomberg intelligence say Nintendo, Sony and Microsoft could be more affected than other gamemakers by tariffs because they also have hardware businesses. Prices for the Nintendo Switch 2 could still be hiked by 7-8% for US buyers — 30% in our worst scenario — despite the 90-day tariff 'truce,' our scenario shows, given the high US duties on the main production countries.= Catch all the Latest Tech News, Mobile News, Laptop News, Gaming news, Wearables News , How To News, also keep up with us on Whatsapp channel,Twitter, Facebook, Google News, and Instagram. For our latest videos, subscribe to our YouTube channel. First Published Date: 11 Jun, 12:20 IST 71749623351423
Malaysian Reserve
2 days ago
- Business
- Malaysian Reserve
Nintendo's Switch 2 sets sales record in boon for games sector
NINTENDO Co. sold 3.5 million-plus units of the Switch 2 in just four days, a record-breaking start for the company's first new console in eight years. The numbers, released by the company Wednesday, bode well for its target to sell 15 million units by March next year. They also reinforce analysts' projections that Nintendo may be able to sell far more if it can pump up supply. Gamers from Tokyo to San Francisco lined up for hours last week to get their hands on one of the most highly anticipated gadgets of the year. The long-awaited Switch 2 succeeds a global hit in the original Switch, which pioneered a hybrid design that allows play both at home on a TV and on the move. The release of the new Switch was regarded as a watershed moment for the industry, steering business decisions by partners and competitors for years to come. At a time of thinning margins and exploding development budgets, a popular new console may galvanize the sector and provide a counterbalance to the increasing dominance of a handful of marquee, live-service games. Catching up with runaway demand is the first major challenge Nintendo faces. President Shuntaro Furukawa has apologized after customers came away from lotteries for the Switch 2 empty-handed. The Kyoto-based company has asked its partners to speed up production of the console. It's also secured agreements from Japanese online marketplace operators such as Rakuten Group Inc., Mercari Inc. and LY Corp. to discourage resellers from taking advantage of the hardware's scarcity. The console is manufactured mainly in China by partners including Foxconn Technology Group. Nintendo's shares, which have gyrated because of concerns about how tariffs may disrupt supply, were down more than 3% in Tokyo. 'The pace is good,' said Hideki Yasuda, an analyst with Toyo Securities. 'The key will be to maintain assembly capacity and increase production going forward.' A chronic shortage may spur consumers to turn elsewhere and flatten momentum. Nintendo's priority is to sustain launch momentum for as long as possible, Furukawa told analysts at an earnings briefing in May. That's more difficult due to the Switch 2's higher retail price compared with its predecessor and growing weakness in the global economy. Furukawa has also warned the company may consider raising the console's price in the future, depending on US President Donald Trump's tariff measures. –BLOOMBERG
27-05-2025
- Business
Rakuten, 18 Others Offer to Sell Stockpiled Rice
News from Japan Society May 27, 2025 15:50 (JST) Tokyo, May 27 (Jiji Press)--Japanese e-commerce giant Rakuten Group Inc. and 18 other companies have applied to sell the Japanese government's stockpiled rice under discretionary contracts, the agriculture ministry said Tuesday. As of 9 a.m. Tuesday, they offered to sell a total of about 90,824 tons of stockpiled rice, with the companies each proposing sales of between 10 and 15,000 tons of rice. The contracts will cover rice produced in 2021 and 2022, with about 94 pct of applications for the 2022 rice. The ministry started accepting the applications on Monday. Five companies have offered to sell at least 10,000 tons of rice each. Major drugstore operator Sundrug Co. proposed selling 12,866 tons of rice while discount supermarket chain OK Corp. offered to sell 10,500 tons and Rakuten Inc. 10,000 tons. At a press conference Tuesday, agriculture minister Shinjiro Koizumi indicated that the ministry may hand over the stockpiled rice to companies as early as Thursday. [Copyright The Jiji Press, Ltd.] Jiji Press
Asahi Shimbun
27-05-2025
- Business
- Asahi Shimbun
Japan Post aims to streamline online forms via address codes
Japan Post Co. has rolled out its new "Digital Address" service that links individual residential addresses with unique seven-character alphanumeric codes. The service, which began on May 26, aims to simplify address input and reduce errors, particularly in online interactions, and requires users to sign up to receive a code. Until now, entering a postal code online typically displays the corresponding town or district name. With a Digital Address, users can have the full address automatically filled in, including street number and apartment. The feature is currently only available on Japan Post's app for creating shipping labels for the company's Yu-Pack parcels. Future applications may extend to other businesses and systems beyond Japan Post, such as registering delivery or membership information online. Entering destinations into car navigation systems, booking taxis and completing forms at hotels or medical facilities are other processes where a code may someday come in handy. Notably, Japan Post has clarified that it does not plan to use Digital Addresses for physical mail delivery. To obtain a Digital Address, users must first register for a "Yu ID," which serves as the account for Japan Post's overall services. As of the end of April, 15 million Yu IDs had been issued. This address code remains constant even if the user moves; updating the associated address only requires filing a change-of-address notification. With privacy as a key concern, the Digital Address links only to a physical location, not to any individual's name. The service is free of charge, both for initial registration and updates. Japan Post will allow third-party businesses to integrate the service into their platforms free of charge. This would enable companies to manage customer address data more efficiently and receive real-time updates on address changes. Major entities such as Rakuten Group Inc. are reportedly considering adoption. A spokesperson for Japan Post emphasized the initiative's long-term potential to enhance convenience and drive new revenue streams. 'We're aiming to promote widespread use over the next 10 years,' the representative said.
23-05-2025
- Business
Rakuten Ready to Sell Govt-Stockpiled Rice Online, CEO Says
News from Japan Society Technology May 23, 2025 19:59 (JST) Tokyo, May 23 (Jiji Press)--Rakuten Group Inc., a Japanese e-commerce company, is prepared to sell government-stockpiled rice anytime soon, Chairman and CEO Hiroshi Mikitani said Friday. Mikitani made the comments to reporters after agriculture minister Shinjiro Koizumi asked him in a meeting for cooperation in selling stockpiled rice online. The government plans to start selling stockpiled rice under no-bid contracts as early as next week as part of efforts to help lower rice prices by increasingly supplies. Rakuten is positively looking to buy stockpiled rice under such a scheme for online sale, Mikitani said. "We don't want to make a vast profit" from the sale of stockpiled rice, he said. [Copyright The Jiji Press, Ltd.] Jiji Press
