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Dive Brief:
Nintendo has secured $300 million in refunds for invalidated U.S. tariffs it paid last year amid the launch of its latest video game console, according to a fiscal Q1 earnings report.
The Switch 2 manufacturer said it bore the brunt of the International Emergency Economic Powers Act levies, even though it did raise prices on certain hardware last year due to unspecified “market conditions.”
The refund helped fuel a 22-percentage-point year-over-year increase in gross profit margin during the quarter, with the company also reporting a 150.5% surge in operating margin.
