Nintendo nine-month net profit plunges 74.3%

Videogame giant Nintendo Co. said Thursday its group net profit plunged 74.3 percent for the nine months ended December, hit by a huge foreign exchange loss and a continued sales slump.


 


 

The maker of the hit "Super Mario Bros" series said its bottom-line profit came to 49.6 billion yen ($604 million) in the period, down from 192.6 billion yen a year earlier.

Group operating profit tumbled 46.5 percent to 158.8 billion yen for the nine months, and sales dropped 31.7 percent to 808.0 billion yen.

Nintendo said it booked a massive 84.4 billion yen in foreign exchange losses for the period, eroding profits considerably.

The strength of the Japanese currency has put many of the nation's growth-driving exporters at a disadvantage by making their products more expensive overseas and eroding their repatriated earnings.

The yen struck a 15-year high of 80.21 versus the dollar in November, but has since eased back to trade at 82.19 in Tokyo trade Thursday.

In the nine months, the video game giant released "Super Mario All-Stars Limited Edition" and "Wii Party" for its "Wii" hardware as well as "Pokemon Black Version" and "Pokemon White Version" for its "Nintendo DS" consoles.

"However, sales did not reach last year's monthly record sales results in the United States in both Nintendo DS and Wii hardware," Nintendo said in a statement.

Nintendo left unchanged its full-year forecasts, bracing for a 60.6 percent plunge in net profit to 90 billion yen, which it announced last year after revealing its highly anticipated 3DS console would miss the Christmas season.

The new-generation DS machine - which allows users to play 3D games without special glasses - will be released on February 26 in Japan and in March in the United States, Europe and Australia.

The gaming gadget features the trademark DS dual screens, with the upper screen providing 3D images and the other controlled by touch with a stylus.

The illusion of depth can be increased or decreased so that games can be played in both 2D and 3D, while built-in cameras allow users to take 3D pictures.

But it is facing increased competition in the space from rivals such as Apple, whose iPhone and iPad are taking a growing chunk of the mobile gaming space.

Rival Sony on Thursday announced it would launch a new handheld console, code-named NGP (Next Generation Portable) boasting cutting edge technology and 3G network compatibility.

News
One father who couldn't get One Direction tickets for his daughters phoned in a fake bomb threat and served eight months in a federal prison
people... (and one very unlucky giraffe)
Arts and Entertainment
Joel Edgerton, John Turturro and Christian Bale in Exodus: Gods and Kings
film
Arts and Entertainment
Brendan O'Carroll as Agnes Brown in the 2014 Mrs Brown's Boys Christmas special
tvCould Mrs Brown's Boys have taken lead for second year?
News
Members and supporters of the lesbian, gay, bisexual, transgender (LGBT) community walk with a rainbow flag during a rally in July
news
PROMOTED VIDEO
Life and Style
ebookNow available in paperback
ebooks
ebookPart of The Independent’s new eBook series The Great Composers
News
i100
Sport
Robin van Persie scores the third for Manchester United with a perfectly-guided header
footballLive! Chelsea vs West Ham kicked off 10 Boxing Day matches, with Arsenal vs QPR closing the action
Arts and Entertainment
Amy Adams and Christoph Waltz in Tim Burton's Big Eyes
film reviewThis is Tim Burton’s most intimate and subtle film for a decade
News
i100
Arts and Entertainment
Jack O'Connell stars as Louis Zamperini in Angelina Jolie's Unbroken
film review... even if Jack O'Connell is excellent
Arts and Entertainment
Madonna is not in Twitter's good books after describing her album leak as 'artistic rape and terrorism'
music14 more 'Rebel Heart' tracks leaked including Pharrell Williams collaboration
Sport
football
Arts and Entertainment
Wolf (Nathan McMullen), Ian (Dan Starky), The Doctor (Peter Capaldi), Clara (Jenna Coleman), Santa Claus (Nick Frost) in the Doctor Who Christmas Special (BBC/Photographer: David Venni)
tvOur review of the Doctor Who Christmas Special
Latest stories from i100
Have you tried new the Independent Digital Edition apps?
Independent Dating
and  

By clicking 'Search' you
are agreeing to our
Terms of Use.

ES Rentals

    iJobs Job Widget
    iJobs Gadgets & Tech

    Ashdown Group: Moodle Developer (PHP ,Linux, Apache, MySQL, Moodle)

    £35000 - £45000 per annum: Ashdown Group: Moodle Developer (PHP ,Linux, Apache...

    Recruitment Genius: Web Developer

    £17000 - £30000 per annum: Recruitment Genius: This is a fantastic opportunity...

    Recruitment Genius: Junior .NET Web Developer - Winform / MVC

    £21000 - £26000 per annum: Recruitment Genius: This Award-winning pharma softw...

    Recruitment Genius: Senior Java Developer

    £30000 - £45000 per annum: Recruitment Genius: A Senior Java Developer is requ...

    Day In a Page

    A Christmas without hope: Fears grow in Gaza that the conflict with Israel will soon reignite

    Christmas without hope

    Gaza fears grow that conflict with Israel will soon reignite
    After 150 years, you can finally visit the grisliest museum in the country

    The 'Black Museum'

    After 150 years, you can finally visit Britain's grisliest museum
    No ho-ho-hos with Nick Frost's badass Santa

    No ho-ho-hos with Nick Frost's badass Santa

    Doctor Who Christmas Special TV review
    Chilly Christmas: Swimmers take festive dip for charity

    Chilly Christmas

    Swimmers dive into freezing British waters for charity
    Veterans' hostel 'overwhelmed by kindness' for festive dinner

    Homeless Veterans appeal

    In 2010, Sgt Gary Jamieson stepped on an IED in Afghanistan and lost his legs and an arm. He reveals what, and who, helped him to make a remarkable recovery
    Isis in Iraq: Yazidi girls killing themselves to escape rape and imprisonment by militants

    'Jilan killed herself in the bathroom. She cut her wrists and hanged herself'

    Yazidi girls killing themselves to escape rape and imprisonment
    Ed Balls interview: 'If I think about the deficit when I'm playing the piano, it all goes wrong'

    Ed Balls interview

    'If I think about the deficit when I'm playing the piano, it all goes wrong'
    He's behind you, dude!

    US stars in UK panto

    From David Hasselhoff to Jerry Hall
    Grace Dent's Christmas Quiz: What are you – a festive curmudgeon or top of the tree?

    Grace Dent's Christmas Quiz

    What are you – a festive curmudgeon or top of the tree?
    Nasa planning to build cloud cities in airships above Venus

    Nasa planning to build cloud cities in airships above Venus

    Planet’s surface is inhospitable to humans but 30 miles above it is almost perfect
    Surrounded by high-rise flats is a little house filled with Lebanon’s history - clocks, rifles, frogmen’s uniforms and colonial helmets

    Clocks, rifles, swords, frogmen’s uniforms

    Surrounded by high-rise flats is a little house filled with Lebanon’s history
    Return to Gaza: Four months on, the wounds left by Israel's bombardment have not yet healed

    Four months after the bombardment, Gaza’s wounds are yet to heal

    Kim Sengupta is reunited with a man whose plight mirrors the suffering of the Palestinian people
    Gastric surgery: Is it really the answer to the UK's obesity epidemic?

    Is gastric surgery really the answer to the UK's obesity epidemic?

    Critics argue that it’s crazy to operate on healthy people just to stop them eating
    Homeless Veterans appeal: Christmas charity auction Part 2 - now LIVE

    Homeless Veterans appeal: Christmas charity auction

    Bid on original art, or trips of a lifetime to Africa or the 'Corrie' set, and help Homeless Veterans
    Pantomime rings the changes to welcome autistic theatre-goers

    Autism-friendly theatre

    Pantomime leads the pack in quest to welcome all