Shigeru Miyamoto's Mindblowing Annual Earnings Revealed by Nintendo

Nintendo recently published its annual earnings report for the 2023 fiscal year, disclosing the annual compensation of the company's top executives. Initially presented in Japanese yen, the figures were later converted to US dollars to facilitate industry-wide comparisons. The fiscal year in Japan concluded on March 31, just a little over a month before the release of The Legend of Zelda: Tears of the Kingdom on the Nintendo Switch. Despite the game's astounding success of selling over ten million units within a week, these numbers will be factored into the FY 2024 report next spring. Throughout the previous fiscal year, Nintendo released notable games, including Pokemon Scarlet and Violet, as well as Metroid Prime Remastered, for the Switch console, which marked its sixth year on the market. With FY 2023 now concluded, the annual earnings of Nintendo's top leadership may come as a surprise to some.

According to the FY 2023 annual report, the President of Nintendo Shuntaro Furukawa, longtime director Shigeru Miyamoto, and directors Shinya Takahashi, Satoru Shiba, and Ko Shiota were the highest-earning directors at Nintendo. Furukawa topped the list with earnings of 362 million yen, while Miyamoto earned 292 million yen. When converted to US dollars, Furukawa's earnings amounted to $2.51 million, and Miyamoto earned $2.02 million. Out of the mentioned directors, Shiota was the only one to earn six figures after conversion, with earnings of $910,000. While these numbers may seem substantial for Nintendo's top brass, they were only a fraction of the $154 million earned by Activision Blizzard CEO Bobby Kotick in 2020. Consequently, Kotick's earnings in US dollars exceeded the reported amount made by Furukawa by over 100 times.

Content: However, the majority of Furukawa's earnings were classified as performance-based compensation. Out of the total of 362 million yen he earned, 275 million yen was attributed to his performance-based achievements. In comparison, Miyamoto's performance-based earnings amounted to 215 million yen. Despite having ongoing projects like The Super Mario Bros. Movie, Super Mario Bros. Wonder, and other upcoming Nintendo Switch titles, Miyamoto still has his fair share of responsibilities.

Considering that the Switch has already been on the market for almost seven years, speculations about Nintendo's upcoming successor to the Switch are gaining momentum on social media platforms. The impact of this on the financial outcomes of Furukawa, Miyamoto, and other Nintendo executives in FY 2024 is yet to be determined.

Source: Nintendo, Nintendo Life