Nintendo slice annual profit forecast

satoru iwata1

Nintendo have lowered their annual net profit forecasts by over half, Japan Today reports.

Such an announcement was made yesterday, with the company expecting a net profit of 6 billion yen for the financial year that ends in March 2013, a steep decline from previous forecasts of 20 billion yen.

Alongside this, they also reported a 28 billion yen net loss leading up to September, which showed an increasingly positive outcome compared to the 70.27 billion loss made during the same period last year.

Sales themselves were down by 6.8%, amounting to 200.99 billion yen, Nintendo blaming their lower forecast on a strong yen that makes exported products more costly overseas whilst decreasing value of their income abroad.

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