Game - Japan: Nintendo Direct: In line to slightly positive – Stronger first- and third-party IP lineup

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Game - Japan: Nintendo Direct: In line to slightly positive – Stronger first- and third-party IP lineup

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Game - Japan

Nintendo Direct: In line to slightly positive

– Stronger first- and third-party IP lineup

Event

Overview: Stronger first- and third-party IP lineup heading 10 June 2026

into the holiday season Equity

Japan

The key announcements from the June 9 Nintendo Direct were Nintendo’s first-party Game

titles “The Legend of Zelda: Ocarina of Time remake” (2026) and new title “Xenoblade

Genesis” (2027), alongside Square Enix HD’s major third-party title “Kingdom Hearts IV” Yoshitaka Nagao >>

(release date TBD). Overall, both Nintendo’s first-party IP lineup and major third-party IP ResearchBofAS JapanAnalyst

lineup gained further depth heading into the holiday season in the second year of Switch +81 3 6225 8501

yoshitaka.nagao@bofa.com

2 adoption. However, as Nintendo’s first-party title announcements were largely in line

Yusuke Noguchi >>

with market expectations, we view the stock price impact as neutral to slightly positive. Research Analyst

BofAS Japan

Square Enix: Strong 2H lineup with KH4 entry on Switch2 yusuke.noguchi@bofa.com

Shinji Masuda >>

Square Enix HD was a positive highlight from the event. In addition to Kingdom Hearts Research Analyst

IV entering Switch 2, the company confirmed a solid second-half lineup, including BofAS Japan

shinji.masuda@bofa.com

Kingdom Hearts Collection [I–III] (Oct. 8), Final Fantasy Resonance (Oct. 22; the

franchise’s first HD-2D title), and Dragon Quest Monsters 4 (Dec. 3).

Capcom/Koei Tecmo: Steadily expanding SW2 adoption

Capcom and Koei Tecmo HD also stood out. Capcom is scheduled to release Onimusha:

Way of the Sword (Sept. 25) and the Switch 2 version of Dragon’s Dogma 2: Dark Arisen

(Oct. 9).