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Miitomo is not about profitability, it will be a platform/app to promote Nintendo most famous IPs, new consoles like the NX, etc. Basically, to strengthen the Nintendo brand. So I think that their intention is to expand the Miitomo user base and try to bring them into the Nintendo gaming world.

I was surprised to see that Miitomo is in the top 100 in profits right now, though (I think I've read in USA?). With in-game money you have enough to buy a lot of cool stuff.