Nintendo posts $927 million loss
Nintendo has posted its fiscal results from the first half of the year, and it includes an income loss of 70.29 billion yen ($927 million). As a result, Nintendo has revised its forecast for the year.
As expected, Nintendo has released its financial results from the first half of the fiscal year ending September 30, 2011, and the company's losses are sizable. Though it isn't quite the 100 billion yen ($1.32 billion) predicted yesterday, the income loss of 70.29 billion yen ($927 million) has hit Nintendo hard enough to seriously revise its full year forecast.
Nintendo's modified forecast counts on 790 billion yen ($10.4 billion) in net sales instead of the previous forecast of 900 billion yen ($11.9 billion). The bigger hit comes to operating income, which went from a prior forecast of 35 billion yen ($462 million) down to only 1 billion yen ($13 million).
In a statement accompanying the results, Nintendo credits the loss to a decrease of hardware and software sales, price reductions on the 3DS and Wii, and a stronger yen against the US dollar. The bright spot seems to have been the Legend of Zelda: Ocarina of Time remake for 3DS, but it's lonely at the top and the lack of hit titles accents Nintendo's struggles with the 3DS hardware.
"As regards the 'Nintendo 3DS' software, 'The Legend of Zelda: Ocarina of Time 3D' became a million- unit seller; however, 'Nintendo 3DS' has yet to have many hit titles," the statement read. "The worldwide sales of 'Nintendo 3DS' software resulted in 8.13 million units. Since a significant price revision made in and out of Japan in August, 'Nintendo 3DS' hardware sales have been improving. Nintendo is preparing to release a solid software line-up for the year-end sales season."
This holiday will bring both Super Mario 3D Land and Mario Kart 7 to the system. While both franchises are traditionally popular and we're heading into the gift-giving season, Nintendo seems to be playing it safer with their predictions in light of the losses.
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Steve Watts posted a new article, Nintendo posts $927 million loss.
Nintendo has posted its fiscal results from the first half of the year, and it includes an income loss of 70.29 billion yen ($927 million). As a result, Nintendo has revised its forecast for the year.-
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"It's not... it's not printing money anymore!"
I'm getting sick of the "yen is too strong" excuse that every exporter is using. Carlos Ghosn of Nissan is flat-out threatening to pack up and leave Japan. I have a hard time feeling sympathy for the companies complaining about the strong yen when the dollar is gradually inflating. -
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Do any of you expect any wild changes to the Wii U before its launch? I wouldn't be surprised to see some controller changes (smaller screen maybe). The big question seemed to be if the system could support more than one of those fancy controllers, and I think the response was basically that they could do it but the cost of the controllers is prohibitively expensive.
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I don't care if they were $125 a pop I would prefer support for multiple controllers over just the one. That being said, I don't think they have to be prohibitively expensive, given they minimal processing power used on the actual controllers, though it may require the Wii-U be considerably more powerful. Next gen is going to be very interesting I think, not quite as interesting as this gen has been but considerably more so than prior gens.
gen, gen gen gen, gen gen-gen. _gen_
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