Nintendo, even if the surplus conversion is not enough for resurrection, "4 good materials" that can still be expected in the future | Business+it

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    Nintendo, even if the surplus conversion is not enough for resurrection, "4 good materials" that can still be expected in the future

    任天堂の2015年3月期決算は4期ぶりの営業黒字で最終利益も黒字に転換した。しかし、業績の中身をみると「復活」と呼ぶにはまだまだ不十分だった。今期は提携先のDeNAとの共同developmentでスマホゲームに参入し、それを起爆剤に既存のハード・ソフトの販売をテコ入れしようと目論んでいる。DeNAとの提携発表時、岩田社長は「スマホ市場参入が遅いか、それとも適切な時期だったかは数年後に振り返ってからわかること」と強気の姿勢を見せたが、ハード・ソフト一体型のビジネスの成否は今後にかかっている。

    Economic journalist Jun Terao

    Economic journalist Jun Terao

    Economic journalist.Born July 1, 1959.Graduated from Doshisha University Faculty of Law.After a reporter such as "Weekly Hyundai", "NEXT", and "FORBES Japanese Version", he has been writing on economic and management.

    "Resurrection" in the fiscal year ending March 2015 is still cool

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     過去5年間、任天堂ほど業績悪化が話題になった企業もそれほどいないだろう。2012年秋にソニー、パナソニック、シャープが最終赤字見通しを発表した際、その巨額ぶりは衝撃的だったが、任天堂の場合は2012年3月期から3期連続で営業損益が赤字続きで、本業で損を出す状態が3年も続いた。その間に最終損益も2回、赤字になっている。 「DS」と「Wii」が合計5713万台も売りあげた2009年3月期の過去最高の営業利益5,552億円との落差があまりにも激しく、かつて「ファミコン」「スーパーマリオ」で一世を風靡し家庭用TVゲームの時代の幕を開けた任天堂は、ゲーム専用機の時代が過ぎ去って、栄光の思い出とともにこのまま消えてしまうのかとさえ思わせた。 その任天堂が2015年3月期決算(日本基準)で業績上の「復活」をみせた。売上高こそ前期比3.8%の小幅減収で5,497億円だったが、営業損益は前の期の464億円の赤字から4期ぶりの黒字247億円に転換し、経常利益は705億円で11.58倍の急増。当期純損益(最終損益)は前の期の232億円の赤字から418億円の黒字に転換して黒字決算になった。年間配当は80円増配して180円とした。 今期、2016年3月期の通期業績見通しは、売上高は3.7%増の5,700億円で、営業利益は101.9%増の500億円と倍増を狙う。経常利益は22.0%減の550億円、当期純利益(最終利益)は16.4%減の350億円を見込む。経常利益、最終利益は前期の反動で減益でも赤字決算には戻らない見込みだ。 5月7日の記者会見で岩田聡社長は、2年後の2017年3月期決算での「営業利益1,000億円達成」を目標に「任天堂らしい利益水準に戻したい」と述べた。しかし現状はその4分の1で、まだ道半ば。6年前の過去最高の営業利益の22分の1以下で、はるかに遠い。

    Four good materials that can be expected in the future

     2015年3月期の業績を詳細に見てみると、発売から2年半が経過した「Wii U」は国内で苦戦。復活の柱になるはずの携帯型「ニンテンドー3DS」は発売後4年も経過しており、国内での販売減が止まらず台数ベース28.6%減で減収の要因になった。今期も13.0%減を見込む。 岩田社長が黒字に復帰したと胸をなでおろす営業損益も、3DS用の利益幅が大きいソフトがよく売れたと言いながら、Wii Uの原価を引き下げて採算を改善する会計処理で利益をひねり出した部分は小さくない。最終損益の黒字化は海外資産の約340億円の為替差益が貢献している。 それでも今後の本業、ハード、ソフトの販売の本格回復を占う上での好材料が大きく4つある。 1つめは、フィギュア「amibo(アミーボ)」シリーズがアメリカで人気を博したこと。NFC(近距離無線通信)を内蔵しており、ゲームに連動して遊ぶことができる。コアな北米ユーザーから高い人気を博し、全世界合計の出荷数は、2015年5月時点で約1050万体到達と、前年比で倍増したという。 2つめは、5月7日にはユニバーサル・スタジオを運営するアメリカのテーマパーク大手UPR(ユニバーサル・パークス・アンド・リゾーツ)と娯楽施設の共同developmentで基本合意を発表したことだ。1つめ同様、「マリオ」のようなキャラクター資産をいかした幅広いビジネスに積極的に打って出る構えを見せた。 しかし、それだけでは「ゲームソフトは10.7%減を見込んでいるが、それでハードの売上減を食い止められるか?」「キャラクタービジネスは頼りになるのか?」「営業利益は本当に増えるのか?」など、不安の声が挙がるのも無理からぬことだろう。

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