Nintendo will double down on its efforts to create new original IPs.
"With the expansion of time spent at home, the range of 'entertainment' as an object of consumption is expanding," said Furukawa.
"Games are not a necessity of life. In order for customers to choose games in their finite time, they have to be interesting. Competition is tough, and I am not optimistic.
"I myself am looking at and studying various forms of entertainment. In the future, we will focus on creating new game series as well as long-sellers such as Mario and Zelda."
It is no secret that Nintendo has long relied on its exclusive IPs. Some of the biggest franchises in the games industry are products of Nintendo.
For example, the Japanese firm is behind longstanding franchises such as The Legend of Zelda, Mario, Fire Emblem and Pokemon.
In recent years, Nintendo has added the Splatoon series to its list of original IPs.
Switch it up
However, it is not just software that Nintendo is thinking about. As its president revealed, the company is constantly thinking about its hardware.
"We are constantly building up ideas for the new consoles the market is expecting, but there are some things we can't do now due to technology and cost constraints," said Furukawa.
Ultimately, the deciding factor in whether a new game or console is brought to market comes down to whether or not "it can create a new experience."
The Nintendo Switch was first released in March 2017 and has entered the "midpoint" of its life cycle. Except, according to Furukawa, the lifespan of the hybrid console "can still be extended."
Nintendo's hybrid console has proven to be exceedingly popular since its release, with nearly 80 million units shipped worldwide as of January 2021.
As such, the Switch has surpassed the lifetime sales of the Nintendo 3DS, which was permanently shelved in September 2020.
Furukawa has, however, warned that there could be a shortage in consoles later this year as a direct result of the hardware's popularity.
"We have been able to secure the necessary materials for the immediate production of semiconductors for switches," Furukawa said.
"However, in Japan and other countries, demand has been very strong since the beginning of the year, and there is a possibility of shortages at some retailers in the future.
"It is difficult to say how we will deal with this, but in some cases, we may not be able to prepare enough for orders."
The Nintendo Switch would not be the only console to suffer shortages. Both the new PlayStation and Xbox models have been in short supply since being launched in November 2020.
Getting an upgrade
News of potential Switch shortages follows the abundant amount of rumours indicating that a pro version of the console is on the way.
The new hardware was first reported to be in the pipeline last month, with recent reports stating that Nvidia chips will be used for the new Switch model.
Nintendo's upcoming hardware is said to be 4K capable when connected to compatible TVs. It will also feature a bigger screen for when it is used as a portable device.
It is believed that the pro console will be launched in the second half of the year, possibly in time for the holiday season. However, production on the hardware is to begin in the coming months