Nintendo reported a 53.5% jump in profits to ¥147.4 billion for the three months to June, substantially beating expert forecasts of ¥77.8 billion, as earnings were buoyed by a refund on US tariffs. The refund followed a US Supreme Court ruling in February that declared Donald Trump's sweeping trade levies illegal, with the Trump administration refunding about $100 billion of the $165 billion collected. While the Switch 2 console maintained strong sales momentum and popular games performed steadily, overall revenue fell 10% to ¥517.8 billion. Nintendo filed a lawsuit demanding a full refund plus interest, and although a refund appears to have come through, the company has not confirmed the full amount and faces a class action lawsuit from customers claiming it should pass refunds on to consumers.
Nintendo Co., Ltd.Nintendo's profits surged due to a refund on US tariffs following a Supreme Court ruling, boosting earnings.
