Japan Specialist

Mark Chadwick

Over 20 years experience in equities and asset management in Asia and Japan. Qualified CFA with experience analyzing companies as a buy-side analyst. In-depth knowledge of company fundamental analysis, corporate governance and valuations.

Equity Bottom-Up

<ul>
<li>
Switch 2 production signals confidence: Supplier orders for up to 25 mn units imply upside to Nintendo’s conservative guidance and likely operating profit revisions over FY3/26.  </li>
<li>
Quarterly Earnings Sensitivity: Every 1 mn hardware units adds ¥11 bn to OP and 1 mn software units ¥3 bn, making Q2 results a key sentiment catalyst.</li>
<li>
Sector positioning remains strong: With major global peers acquired, Nintendo stands as the premier pure-play gaming franchise; valuation premium sustained by scarcity and structural growth exposure.</li>
</ul>



Switch 2 production signals confidence: Supplier orders for up to 25 mn units imply upside to Nintendo’s conservative guidance and likely operating profit revisions over FY3/26.  

Quarterly Earnings Sensitivity: Every 1 mn hardware units adds ¥11 bn to OP and 1 mn software units ¥3 bn, making Q2 results a key sentiment catalyst.

Sector positioning remains strong: With major global peers acquired, Nintendo stands as the premier pure-play gaming franchise; valuation premium sustained by scarcity and structural growth exposure.


Nintendo (7974) | Early Signals from the Switch 2 Cycle