Nintendo Reports Dismal Six-Month Results and Expects Full-Year Loss

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NintendoNintendo announced selected financial results for the first six months (a period ended September 30, 2011) of its fiscal year. Nintendo has also announced that it expects to suffer a loss for the full fiscal year. Read on for more details...
For the six month period ended September 30, 2011, Nintendo reported a net loss of ¥70.273 billion (around $927 million), compared to a net loss of ¥2.011 billion in the same period the previous year.

Nintendo politely blamed the 3DS for its financial issues, noting that the "...Nintendo 3DS has yet to have many hit titles." Nintendo did note that 3DS sales have increased since the massive price cut. Nintendo also said that while the DS family and Wii are still selling, fewer new titles have resulted in much lower sales numbers.

Nintendo has also lowered its financial forecast for the full fiscal year all the way from a profit to a significant loss. This is as a result of the "stronger-than-expected yen appreciation and the current sales performance." In other words, Nintendo's game and console sales are lower than expected and currency exchange rates have been hurting the bottom line. This is especially painful for Nintendo, as the company has been one of the most consistently profitable companies around for decades.

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This page contains a single entry by Editor published on October 27, 2011 11:46 AM.

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