What this is
How much of Nintendo’s ¥82.8bn affiliate profit in the year to March 2026 was one-off: ¥11.7–17.0bn, leaving ¥65.8–71.1bn recurring.
How it’s built
- Nintendo’s ¥82.8bn includes ¥11.7bn from currency-translation reserves released when an affiliate business was sold to Scopely in May 2025.
- Route one treats The Pokémon Company’s ¥16.5bn after-tax gain on that sale as part of the release: one-off ¥11.7bn.
- Route two treats them as separate and adds Nintendo’s 32% of the gain: one-off ¥17.0bn.
What we assumed
- Whether the gain and the reserve release overlap.The filings do not say; both routes are kept, and the answer moves the one-off by about ¥5bn.
- The released reserve sits inside The Pokémon Company group.The research assumes so; Nintendo does not name the affiliate.
- Nintendo’s share of each item is 32%.That is its stated ownership.
Sanity check
Either way the one-off is 2–3% of Nintendo’s ordinary profit, and the sale cannot recur. Next year’s baseline should be closer to ¥66–71bn than ¥83bn, other things equal.
The value
- Equity income year to March 2026: 82,792
Some detail is too fine to show here; it is kept in the trainer’s notes.
Where it comes from
Our calculation from other figures in the trainer’s notes:
- EstimateAffiliate aggregate net profit excluding gain and excluding recycle, year to March 2026 (affiliates' own FY)
- EstimateImplied group net profit outside parent, year to February 2026 (approx.)¥135.1bn
Show the working
- a: 82,792 − 11,679 = 71,113
- 255,139 − 36,497 = 218,642
- b: 11,679 + 0.32×16,500 = 16,959
- 82,792 − 16,959 = 65,833
- 255,139 − 16,500 − 36,497 = 202,142