TOKYO (AP) — Japanese video-game maker Nintendo on Thursday reported a 43% decline in profit for the fiscal year through March, but promised a turnaround as its Switch console upgrade goes on sale in June.

Nintendo Co. projected weaker-than-expected initial sales of the Switch 2, a reflection of how uncertainty around US tariffs is weighing even on a company fielding record-setting demand.

Nintendo is throwing some cold water on Switch 2 sales estimates even though launch demand seems to be off the charts.