I expect Nintendo to have a different workforce composition than your typical SaaS.
They will proportionally have more artists and translators, who have less leverage/alternatives in the labor market than engineers. That would explain a lower expense line in the profit formula.
Obviously, this is not a value judgement. Diamonds cost more than water, at the margin, but that doesn't mean one is more important than the other.
And not just artists, but artists at a name-brand company that shape games. People from all over the world would line up around the block for days, buddhist monk style, to get an artist job there. They can pay at or below market rate just because folks would kill to design the next Metroid game.
Now... I think in Kyoto that's a pretty decent number! Tech company salaries in Kansai are _so much worse_ than in Kanto when I looked (5 years ago but). But if you're in Tokyo and making that... honestly you are gonna be better off elsewhere.
I have seen worse numbers at other game companies, but hearing 500k+ per head in profit, it's kind of disgusting they don't pay a bit more.
[0] https://www.vorkers.com/company_answer.php?m_id=a0910000000F...
My experience with Japanese people and some anectodes from a friend who worked at Nintendo is that bureaucracy, culture expectations that you shouldn't change jobs at all, and English ability are some of the strong limiting factors for Japanese rank and file employees to achieve high pay. It's a shame as Japan has so many smart people who are both down to earth and innovative.
It is if they're not paying out (all) the profits to shareholders.
Nothing stopping them building a war chest for tough times.
Maybe that's why they're increasing pay and apparently not laying off staff, when competitors are doing the inverse?