Nintendo Raises Its Japanese Employees' Base Salaries by 10%

On Tuesday, Nintendo announced that it is raising the base salaries of its Japanese employees by 10% in order to combat financial issues caused by inflation. According to the company's recent earnings report, the decision is based on Japan's Prime Minister Fumio Kishida's recent calls to Japanese companies to pay workers more to combat inflation in the country. "It's important for our long-term growth to secure our workforce," commented Nintendo President Shuntaro Furukawa during the briefing, Reuters reports.

During the same briefing, the company also provided some details regarding its handheld console Nintendo Switch, saying that its sales declined by 20% year-on-year, largely due to a shortage of semiconductors and other component supplies that affected many companies, including Nintendo itself, back in 2022. Despite the decline in profits, the console has still managed to achieve the milestone of 122 million lifetime sales, overtaking Game Boy with its 118 million sales.

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