Nintendo unveiled its headline financial results and broader strategies during its annual financial results earlier this Spring, but as normal there'll be an AGM (annual general meeting) this Summer to formalise Director roles and the accounts; it is dated for 29th June at 10am Japan Time. Due to the current public health situation in Japan, however, the company has confirmed that attendees to The 81st Annual General Meeting of Shareholders will be able to do so remotely, even casting their votes online.
The schedule is rather standard; the key Director roles will be up for re-election, but throughout Nintendo's history this has largely been a formality - that will especially be the case with the company reporting incredible profits for the last year. This will likely also see the formal appointment to the board of Chris Meledandri, founder of Illumination - the company that is producing the upcoming Mario animated movie. His role will be as an 'Outside Director', which means he will be involved in an advisory role for specific areas, in his case film-making and animation projects.
The lengthy Convocation Notice largely re-iterates details from previous announcements and the financial reports, in addition to the full audit report. One detail that caught our eye was the official tally of Nintendo employees - this will refer to those formally employed by Nintendo Co., Ltd, and likely doesn't include various second-parties that work exclusively with the company but are separate entities. The total number of employees rose by 374 over the last year, now sitting at 6,574.
As always we'll be looking out for any interesting details that emerge once the AGM takes place.
[source nintendo.co.jp]
Comments (13)
I'm a shareholder, and like basically every other shareholder meeting ever for anyone, you vote by mail unless you happen to have shares that makes up an appreciable block of control. You're eligible to vote with a single share, so getting a big room for several million people to show up isn't really an option.
It's also common practice to have a conference you can call into to listen (while muted) or just send out the minutes in the mail, so this format isn't really anything new. It effects like 20 people who have the opportunity to go to the meeting in person, and I'm going to go ahead and guess all of them are still going to do that because they are the level of wealthy where silly things like quarantine don't apply to you, and that facetime with the bigwigs is extremely valuable.
@HeadPirate has being a shareholder been profitable?
@jump lol might want to reread that part
@MrGlubGlub @jump In fairness the headline makes it sound like it was that big of a leap.
@jump
Nintendo's employee count rose by 374 to 6574, not from 374 to 6574.
In other words, Nintendo had 6200 employees by March 2020, and now they have 6574 employees by March 2021.
The new employees are probably the Monolith Soft staffers they keep hiring, and the addition of Next Level Games, if they count those companies.
@shadowii
Extremely.
Unless you bought in at the height of the Wii and had to sell in the Wii U age, this has been a pretty blue chip stock for decades.
The last two years have been insane, with a 60% increase that doesn't look like it's going to slow down any time soon. Even if you DID buy in at the higher of the Wii and were able to hold your stock until now, you're still up around 30%.
@jump How can you hire 6200 new people when the world is only 6000 years old?
why other video game companies were laying off workers and giving themselves bonuses during a pandemic. Nintendo HIRES more people. there is your difference. Nintendo cares about people.
@tntswitchfan68
That has very little to do with "Nintendo", it's just a geographical thing. It's not like it's a cake walk, as any sararīman will tell you, but Japan has a different take on what you "owe" your employees, and going though every possible option before letting people go is one of them. Nintendo shareholders told them they needed to fire some people a few years ago to make up a 32 billion yen shortfall ... Satoru Iwata and few board members just covered it out of pocket instead.
It also has a lot to do with how shockingly, insanely, unbelievably bad the US response to the pandemic was. Countries that shut down immediately, resisted calls to re-open, and mandated mask use have already fully recovered, but US companies see years of rough business ahead of them. Japan didn't even have a pandemic (although it's kinda ramping up now). Everyone was already wearing masks, when the government tells people to do something, they people do it, and everyone trusts science. With about half the population of the US, 14,000 people TOTAL have died of COVID in Japan. The US was seeing more deaths every week for most of the pandemic.
So where Japan is business as usual, there is still a ton of uncertainty that is going to make any expansion or new hires in the US extremely risky.
I mean ... obviously being 880% to revenue target for full year doesn't hurt ...
@tntswitchfan68 how can you say Nintendo cares about people, when they won’t re-release games from 20+ years ago. I’m being sarcastic btw.
Ports don't make themselves! I hope they have enough employees to cover the workload now
@HeadPirate it also has to do with greed from companies. Japan is handling the pandemic a bit better than we have. I admit that.
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