theguardian_business

‘Mamma mia!’: Trump tariffs refund ignites 53% profit spike at Nintendo

📰 source: theguardian_business · 💼 business

nintendo's profits surged 53.5% to ¥147.4bn (£694m) in the three months to june, beating forecasts for ¥77.8bn. the boost came from a refund on us tariffs after the supreme court ruled trump's 'liberation day' levies illegal. sales of switch 2 and games like yoshi and star fox were steady, but overall revenue still fell 10% to ¥517.8bn.

the company received part of the $100bn refunded by the trump administration, but didn't confirm the full amount. a class action lawsuit from customers claims nintendo raised prices due to tariffs then kept the refund; nintendo's lawyers call it meritless.

trump imposed fresh tariffs on japan and 80 countries last month, but 25 us states are suing, which could lead to another round of refunds. nintendo's tokyo-listed shares rose 2.87% on thursday.

why it matters: tariff refunds directly boosted nintendo's profits, showing trade policy can swing company earnings; new tariffs and lawsuits could bring more refunds.

source: theguardian_business
sentiment: +0.70 · impact: 0.60

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Surprise fall in US jobs last month as slow summer continues

Homes are selling below asking in 38 of the 50 biggest U.S. cities—if you can afford one

China is gaining ground in AI. But the U.S. still has a major advantage

US strikes $1.2bn deal to pay German firm to halt offshore wind projects