Nintendo : Notice of Dividend (end of 2nd quarter) and Dividend Forecast Modifications

Nintendo Co., Ltd.
11-1Hokotate-cho, Kamitoba,
Minami-ku, Kyoto 601-8501	November 7, 2023
Japan

Notice of Dividend (end of 2nd quarter) and Dividend Forecast Modifications

At the Board of Directors' Meeting held on November 7, 2023, Nintendo Co., Ltd. (the "Company") resolved to pay the interim dividends with the record date of September 30, 2023 as follows.

In addition, the Company modifies its dividend forecast for the fiscal year ending March 31, 2024, which was announced on May 9, 2023, as follows.

1. Description of dividend

	Dividend decided	Most recent dividend forecast	Last year's dividend (Six months
	(Announced on May 9, 2023)	through September 30, 2022)
Record date	September 30, 2023	September 30, 2023	September 30, 2022
Interim dividend per share	80 yen	Undetermined	630 yen
Total dividend payment	93,139 million yen	―	73,346 million yen
Effective date	December 1, 2023	―	December 1, 2022
Source	Retained earnings	―	Retained earnings
[Notes]

The Company enacted a 10-for-1 split of its common stock with an effective date of October 1, 2022. Interim dividend per share for the fiscal year ended March 31, 2023 does not take into account the effect of the stock split.

2. Dividend forecast modifications

			yen
		Dividend per share
	End of 2nd quarter	Year-end	Annual
Previous forecast	Undetermined	Undetermined	147
announced on May 9, 2023
Modified forecast		101	181
Year ending March 31, 2024	80
Year ended March 31, 2023	630	123	―
[Notes]

The Company enacted a 10-for-1 split of its common stock with an effective date of October 1, 2022. The year-end dividend per share for the fiscal year ended March 31, 2023 takes into account the effect of the stock split. However, the interim dividend per share for the fiscal year ended March 31, 2023 does not take into account the effect of the stock split.

3. Reason for modifications

The interim (at the end of 2nd quarter) dividend per share, in accordance with the current policy, is 80 yen.

If the actual consolidated financial results for the fiscal year ending March 31, 2024 are in line with our modified financial forecasts announced today, on November 7, 2023, the dividend per share for the annual and year-end dividends for the fiscal year ending March 31, 2024 are expected to be 181 yen and 101 yen correspondingly.

As for the previous dividend forecast for the fiscal year ending March 31, 2024, only the annual dividend is described because the financial forecast for the year is prepared only on a full fiscal year basis and the dividend cannot be separately forecasted between the interim and the fiscal year-end.

[Notes]

The interim (at the end of 2nd quarter) dividend per share is calculated by dividing 33% of consolidated operating profit of the six-month period by the total number of outstanding shares, excluding treasury shares, as of the end of the six- month period rounded up to the 1 yen digit.

The annual dividend per share is established at the higher of the amount calculated by dividing 33% of consolidated operating profit for the fiscal year by the total number of outstanding shares, excluding treasury shares, as of the end of the fiscal year rounded up to the 1 yen digit, or the amount calculated based on the 50% consolidated payout ratio rounded up to the 1 yen digit.

Forecasts announced by the Company referred to above were prepared based on management's assumptions with information available at this time and therefore involve known and unknown risks and uncertainties such as fluctuation in foreign exchange rates and other changes in the market environment. Please note such risks and uncertainties may cause the actual results (earnings, dividend, and other results) to be materially different from the forecasts.