Nintendo annual profits soar 36% to $1.27bn on Switch sales

Nintendo said Thursday its annual net profit soared 36.1 percent, thanks to immense popularity of its Switch console.

The Kyoto-based video game giant also announced it was appointing 46-year-old Shuntaro Furukawa, who currently oversees its marketing and other divisions, to be its next president.

Nintendo said its net profit for the year to March reached 139.6 billion yen ($1.27 billion), beating its own expectations after it has repeatedly raised annual targets.