Nintendo (NASDAQ: NTDOY) president Tastumi Kimishima spoke with the Japanese newspaper The Asahi Shimbun that the company will begin releasing its own feature films in the next two to three years. The movies will cater to the domestic market as well as the international market.
According to Bloomberg News, the company’s U.S. headquarters in Redmond, Wash, plans to use its cash from selling its majority stake in the Seattle Mariners baseball team. Nintendo’s stake in the team is valued at $1.4 billion. In April, Nintendo of America are selling its stake to a group of minority owners led by new chairman and CEO John Stanton. The company will be selling all but 10 percent of its stake in the franchise and the regional sports network ROOT Sports. The Major League Baseball will be reviewing the deal in its league meetings in August. Company spokesman Makoto Wakae said Monday details are undecided but the work might be a theater release or a DVD.
President Tatsumi Kimishima said that the company is negotiating with a number of movie production companies around the world in search of a partner for full-fledge filmmaking.
“We want to do as much as we can by ourselves,” Kimishima told The Asahi Shimbun. The Japanese gaming giant reported that year-over-year revenue fell just over 60 percent for the quarter ending in March down to 16.5 million yen, or $148 million, with an 8 percent decline in revenue to $4.53 billion. The slow sales of the Wii U and its Nintendo 3DS handheld continue to drag on the company. Nintendo previously announced that its new console Nintendo NX would be release in March 2017. Nintendo will also be unveiling new footage of The New Legend of Zelda being released in 2017.
In the past Nintendo had licensed its game characters such as with its Pokemon movies and the Super Mario Bros. live-action film from 1993. The company plans to make their own films. Details have not been released on Nintendo first film project.