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Nintendo Co. Ltd's Company Earnings Report on 9/30 revealed a very promising expansion of operations. In the worldwide operating chapters section, Nintendo lists its international divisions, subsidiaries, and affiliates. The company now has a total of twenty six subsidiaries and fifteen affiliates. Noticeable changes include the addition of Brownie Brown, Nintendo Software Canada, and Nd Cube to Nintendo's majority owned in-house operations. Brownie Brown stands out as the most promising of new assets. The company will bring the RPG genre to Nintendo's software offerings in future years. The section reads as follows (make sure to take note of the key at bottom):

Nintendo Company Ltd. and its related chapters and companies, which are composed of the Company, twenty-six subsidiaries and fifteen affiliates as of September 30, 2001, operate manufacturing and sales of electronic entertainment products as a major business.

Distributor International Headquarters
(a) Nintendo of America Inc.
(a) Nintendo of Canada Ltd.
(a) Nintendo of Europe GmbH
(a) Nintendo of France S.A.R.L
(a) Nintendo of Benelux B.V
(a) Nintendo of Espana, S.A
(a) Nintendo of Australia Pty. Ltd.
(a) Nintendo of Phuten Co., Ltd.

Market Research etc.
(a) NES Merchandising Inc.
(a) NHR Inc.
(a) HFI Inc.

Special Retailer
(a) Nintendo Services USA Inc.
(a) Pokemon USA Inc.
(d) The Pokemon Company

Electronic Registration of Service Merchandise etc.
(a) Inc.
(a) Nintendo Services Ltd.

Management of Game Creator etc.
(a) warpstar Co., Ltd.
(c) Fukuei Co., Ltd.
(d) Marigul Management Inc.
(d) MGM Fund Inc.
(e) Randnet DD Co., Ltd.

Software & Technology Development
(a) Nd Cube Co., Ltd.
(a) Nintendo Technology Development Inc.
(a) Nintendo Software Technology Corporation
(a) Nintendo Software Canada Inc.
(a) Brownie Brown Co., Ltd.
(a) Rare Acquisition Inc. / Rare Toys & Games Inc.
(b) A/N Software Inc.
(d) HAL Laboratory Inc.
(d) MONEGI Co., Ltd.
(d) Mobile 21 Co., Ltd.
(d) Rareware Limited
(d) Left Field Productions Inc.
(d) Retro Studios Inc.
(d) Silicon Knights Ltd.
(d) iKuni Inc.
(d) Ape Inc.
(e) Midway / Nintendo Inc.

Key Terms & Company Breakdown
(a) Consolidated subsidiaries -- 24
(b) Non-consolidated subsidiaries -- 1
(c) Non-consolidated subsidiaries without equity method 1
(d) Affiliate companies with equity method -- 13
(e) Affiliate companies without equity method 2
Total Subsidiaries -- 26
Total Affiliates -- 15

Subsidiary companies are the equal of Nintendo created and controlled official chapters and sub-divisions. Affiliates are the equal of externally created, acquisitioned partners and funded companies.

December 24, 2001

Jim - News Contributor, GameCubicle is an independent site and is in no way associated with Nintendo Co. Ltd. or NOA
Nintendo's official GameCube site can be found at

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