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Acquired / Case file

Nintendo

Hardware-and-IP company that survives downturns by designing constraints into its catalog rather than out of it.

Historical and episode-reported figures

Nintendo Switch lifetime units sold
143M+
As of 2024-12
Nintendo FY2024 annual report + Acquired episodeSource
Mario franchise lifetime game units
830M+
As of 2024-12
Nintendo investor disclosures + Acquired episodeSource
Pokémon franchise lifetime revenue
~$100B+
As of 2024
Acquired episode + Pokémon Company disclosuresSource
Operating margin (FY2024)
~32%
As of 2024-03
Nintendo FY2024 annual reportSource

Overview

Business model and origins

Hand-painted hanafuda playing cards — and a willingness to repeatedly reinvent the product category while keeping the company.

2 episodes2026-05 case file as of

Origin

Nintendo (任天堂) means "leave luck to heaven." Fusajiro Yamauchi founded the company in 1889 as a hanafuda-card maker. His great-grandson Hiroshi Yamauchi took over in 1949 at age 21 and ran it for 53 years. Hiroshi spent the 1960s testing new businesses (instant rice, taxis, love hotels, vacuum cleaners) before stumbling into toys with Gunpei Yokoi's Ultra Hand in 1966. The toy success drew them into electronic games; the electronic games drew them into home consoles. The 100-year detour from cards to Mario is the longest founder-family continuity in modern consumer history.