Nintendo reports robust early sales of Switch 2, keeps full-year forecast
The successor to the hit home-portable Switch went on sale in the midst of U.S President Donald Trump's trade war, testing Nintendo's supply chain management.
The company provided the early sales volumes in an earnings update and said it was maintaining its forecast to sell 15 million Switch 2 units in the financial year ending March 2026.
The Kyoto-based gaming company said operating profit grew 4 per cent to 56.9 billion yen ($378 million) in the April-June quarter, beating analysts' estimates.
It said U.S. tariff measures and other changes in the market environment had no significant impact on the earnings forecast announced in May.
The Switch 2 was launched on June 5 with titles including "Mario Kart World" and upgraded games "The Legend of Zelda" series with better graphics.
Nintendo sold 8.67 million Switch 2 software units during the quarter with "Mario Kart World" frequently bundled with the gaming device.
"Donkey Kong Bananza" was released on July 17 and has been widely praised. It has a score of 92 out of 100 on reviews aggregator Metacritic, indicating universal acclaim.
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CNA
an hour ago
- CNA
India will continue to buy Russian oil, government sources say
NEW DELHI: India will continue to purchase oil from Russia, despite US President Donald Trump's threats of penalties, two Indian government sources said, speaking on condition of anonymity due to the sensitivity of the matter. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Trump last month indicated in a Truth Social post that India would face additional penalties for purchases of Russian arms and oil. On Friday (Aug 1), Trump told reporters that he had heard that India would no longer be buying oil from Russia. The New York Times on Saturday quoted two unnamed senior Indian officials as saying there had been no change in Indian government policy, with one official saying the government had "not given any direction to oil companies" to cut back imports from Russia. Reuters reported this week that Indian state refiners stopped buying Russian oil in the past week after discounts narrowed in July. "TIME-TESTED PARTNERSHIP" WITH RUSSIA "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," India's foreign ministry spokesperson Randhir Jaiswal told reporters during a regular briefing on Friday. Jaiswal added that India has a "steady and time-tested partnership" with Russia, and that New Delhi's relations with various countries stand on their own merit and should not be seen from the prism of a third country. The White House in Washington did not immediately respond to requests for comment. Indian refiners are pulling back from Russian crude as discounts shrink to their lowest since 2022, when Western sanctions were first imposed on Moscow, due to lower Russian exports and steady demand, sources said earlier this week. The country's state refiners - Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd - have not sought Russian crude in the past week or so, four sources familiar with the refiners' purchase plans told Reuters. 100% TARIFF THREAT On July 14, Trump threatened 100 per cent tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the top supplier to India, responsible for about 35 per cent of India's overall supplies. Russia continued to be the top oil supplier to India during the first six months of 2025, accounting for about 35 per cent of India's overall supplies, followed by Iraq, Saudi Arabia and the United Arab Emirates. India, the world's third-largest oil importer and consumer, received about 1.75 million barrels per day of Russian oil in January-June this year, up 1 per cent from a year ago, according to data provided to Reuters by sources. Nayara Energy, a major buyer of Russian oil, was recently sanctioned by the European Union as the refinery is majority-owned by Russian entities, including oil major Rosneft. Last month, Reuters reported that Nayara's chief executive had resigned after the imposition of EU sanctions, and company veteran Sergey Denisov had been appointed as CEO.
Straits Times
2 hours ago
- Straits Times
India to maintain Russian oil imports despite Trump threats, government sources say
Sign up now: Get ST's newsletters delivered to your inbox US President Donald Trump has threatened 100 per cent tariffs on US imports from countries that buy Russian oil unless Moscow reaches a peace deal with Ukraine. NEW DELHI - India will keep purchasing oil from Russia despite US President Donald Trump's threats of penalties, two Indian government sources told Reuters on Aug 2, not wishing to be identified due to the sensitivity of the matter. On top of a new 25 per cent tariff on India's exports to the US, Mr Trump indicated in a Truth Social post in July that India would face additional penalties for purchases of Russian arms and oil. On Aug 1, Mr Trump told reporters he had heard that India would no longer be buying oil from Russia. But the sources said there would be no immediate changes. 'These are long-term oil contracts,' one of the sources said. 'It is not so simple to just stop buying overnight.' Justifying India's oil purchases from Russia, a second source said India's imports of Russian grades had helped avoid a global surge in oil prices, which have remained subdued despite Western curbs on the Russian oil sector. Unlike Iranian and Venezuelan oil, Russian crude is not subject to direct sanctions, and India is buying it below the current price cap fixed by the European Union, the source said. Top stories Swipe. Select. Stay informed. Singapore $3b money laundering case: MinLaw names 6 law firms taken to task over involvement in property deals Singapore Police reopen access to all areas in Marina Bay after crowd congestion eases at NDP Preview area Singapore Opening of Woodlands Health has eased load on KTPH, sets standard for future hospitals: Ong Ye Kung Asia KTM plans new passenger rail service in Johor Bahru to manage higher footfall expected from RTS Singapore HSA investigating teen allegedly vaping on MRT train Asia 4 workers dead after falling into manhole in Japan Singapore New vehicular bridge connecting Punggol Central and Seletar Link to open on Aug 3 Singapore New S'pore jobs portal launched for North West District residents looking for work near home The New York Times also quoted two unnamed senior Indian officials on Aug 2 as saying there had been no change in Indian government policy. Indian government authorities did not respond to Reuters' request for official comment on its oil purchasing intentions. However, during a regular press briefing on Aug 1, foreign ministry spokesperson Randhir Jaiswal said India has a 'steady and time-tested partnership' with Russia. 'On our energy sourcing requirements... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances,' he said. The White House did not immediately respond to requests for comment. India's top supplier Mr Trump, who has made ending Russia's war in Ukraine a priority of his administration since returning to office this year, has expressed growing impatience with Russian President Vladimir Putin in recent weeks. He has threatened 100 per cent tariffs on US imports from countries that buy Russian oil unless Moscow reaches a peace deal with Ukraine. Russia is the leading supplier to India, the world's third-largest oil importer and consumer, accounting for about 35 per cent of its overall supplies. India imported about 1.75 million barrels per day of Russian oil from January to June this year, up 1 per cent from a year ago, according to data provided to Reuters by sources. But while the Indian government may not be deterred by Mr Trump's threats, sources told Reuters this week that Indian state refiners stopped buying Russian oil after July discounts narrowed to their lowest since 2022 - when sanctions were first imposed on Moscow - due to lower Russian exports and steady demand. Indian Oil, Hindustan Petroleum, Bharat Petroleum and Mangalore Refinery Petrochemical have not sought Russian crude in the past week or so, four sources told Reuters. Nayara Energy - a refinery majority-owned by Russian entities, including oil major Rosneft, and major buyer of Russian oil - was recently sanctioned by the EU. Nayara's chief executive resigned following the sanctions, and three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions, Reuters reported last week. REUTERS
CNA
7 hours ago
- CNA
Gaia Series 97: "Miracle Wheat" - Japanese people changing the world
This week's episode explores Japan's rice crisis and the global race for wheat resilience in a warming world. In this thought-provoking episode, viewers are presented with the harsh realities of Japan's rice shortage and the global wheat crisis, framed through the lens of scientific innovation and human resolve. The programme offers not only a critical look at the dwindling domestic rice supply, but also a deeply personal journey through the life and legacy of Professor Hisashi Tsujimoto, who has dedicated more than four decades to developing wheat resilient to extreme heat and drought. The story begins with the 'Reiwa Rice Crisis', a term coined to describe the surge in rice prices in Japan. At the 2025 FABEX Tokyo food trade show, the demand for rice-based products underscores the national concern. 'Prices nearly doubled in just one year,' the narrator states, as the camera pans across long queues and signs limiting customers to 'one bag per person'. Shinmei Co Ltd, one of the country's leading rice wholesalers, plays a prominent role. Its president, Mitsuo Fujio, who also serves on the Ministry of Agriculture, Forestry and Fisheries Food Department Council, warns, 'If the population continues to grow, they say we'll need 1.7 times more food than we have now.' He adds, 'The battle for food has already begun.' Decades of rice-reduction policies have taken a toll. Over the last 50 years, the number of rice farmers in Japan has dropped by 80 percent, and production has fallen 40 per cent from 12.53 million tonnes in 1970 to just 7.76 million tonnes in 2020. To meet demand, imports of foreign rice have surged, but consumer confidence in domestic rice continues to erode. As Japan grapples with this crisis, the focus shifts to wheat. Approximately 2.5 billion people worldwide rely on it as a staple, but its price remains volatile, affected by climate events and geopolitical tensions such as the war in Ukraine. 'Even a small rise in the price of wheat can be life or death for people in developing nations,' the narrator explains. At the heart of this global struggle is Professor Hisashi Tsujimoto, 66, a specialist in wheat breeding. 'Wheat is often called a strategic crop, but to prevent it from being used that way, I believe we must ensure a stable, sufficient supply,' he says. At the Tottori University Arid Land Research Centre, where summer temperatures can reach 60°C, Tsujimoto breeds wheat to endure the planet's harshest climates. His methods are painstaking. Each year he makes over 300 crossbreeds, manually transferring pollen between varieties. 'Both bread wheat and macaroni wheat are heat-tolerant,' he explains. 'I'm combining the heat-resistance genes into a single plant, to create a super heat-resistant variety.' These experiments are critical, especially since Japan's wheat self-sufficiency is only 16 per cent. Tsujimoto's field research took him to Sudan over a decade ago. Out of 1,000 wheat varieties he tested, six adapted well to the local environment. His local counterpart, Mr Izzat, led the final stages of research with national hopes pinned on success. But in 2023, civil war broke out. Guerrilla forces looted the research facility and destroyed the seeds. Despite the devastation, hope was rekindled when a Moroccan university extended an invitation for joint research. Wheat from Tottori was once again bound for Africa. In August 2024, Tsujimoto arrived in Morocco, only to be confronted by even more severe conditions than in Sudan. The local irrigation channels had been dry for years. 'There's absolutely zero water,' he observes. 'Seeing it in person makes me want to take action. It really motivates me to do something.' He travelled to Arad Village, where 740 residents live amid withered olive groves. There, he introduced drought-resistant wheat to local farmers. 'Would you all like to try growing drought-resistant wheat?' he asks. One villager responds, 'Of course.' Tsujimoto explains the wheat can 'save water by 30 per cent'. The gratitude of the villagers was evident. A local elder prepared couscous and traditional bread, including batbout and baghrir. 'Wheat truly takes centre stage at the table,' the episode's narrator observes. Back in Tottori, the Daisen Wheat Project is trying to restore local wheat production, which had nearly vanished by the 1990s. Inspired by Tsujimoto, the project now yields 300 tonnes a year. Schoolchildren in Yonago enjoy bread made from this local wheat, although it only appears once a week on their lunch menu. 'But if it's gone, we can't share those memories. One less thing to remember,' says one local. At Tottori University, younger scientists are carrying the baton forward. Associate Professors Sakuma and Ishii, both 39, are researching ways to increase wheat yield and even developing a hybrid of wheat and rice called 'Rice Wheat'. 'We're developing a plant never before seen in the world,' says Ishii. In April 2025, Tsujimoto returned to Morocco where 120 varieties of wheat had been sown. Farmers from Arad Village gathered to evaluate the trial plots. One variety in particular caught their attention. 'It's growing green and healthy with barely any water,' a farmer notes. Tsujimoto names it 'The Children of Arad Village'.
