In September, Nintendo announced it would release a mobile game, Super Mario Run, in December, featuring one of its most popular game characters.
The game will launch on Apple's iOS platform and was developed with Mario creator, Shigeru Miyamoto, at the helm. Users will have to pay a set purchase price to enjoy all of the content available in the initial release; beyond that, Nintendo did not provide any information.
Goyal believed the shift to mobile will unlock Nintendo's true value. "When it comes to the casual game user market, the biggest owner of relevant intellectual property is Nintendo," he said.
The storied game-maker pushed into smartphone apps and games by partnering up with mobile firm DeNA in 2015 and enjoyed a surge of popularity this year from the successful launch of the Pokemon Go mobile game, developed by Niantic.
Nintendo's overall dedicated video game hardware sales fell 56.3 percent on-year in the first half of fiscal 2017, while dedicated software sales dropped 46.52 percent.
Against this backdrop, the company said Pokemon Go led to increased sales of software in the Pokemon series and drove hardware sales growth for the 3DS game console family outside Japan.
"Consoles will cover the costs [while] the real upside is from the new business that is going to be on mobile, and Super Mario Run is the beginning," said Goyal.
Nintendo previously said it has plans to release mobile games for other series such as Animal Crossing and Fire Emblem by March 2017.