Nintendo cuts annual profit forecast on strong yen

Iria · Oct 30, 2008, 06:03 PM

Pokemon, Mario and the Wii are as hot as ever, but the onset of a headstrong yen forced Nintendo Co. to prune its money-making ambitions Thursday.

The Kyoto-based video game and console maker cut its annual net profit forecast by nearly 16% because of the stronger Japanese currency, which erodes overseas earnings. It now predicts a net profit of 345 billion yen ($3.5 billion) for the fiscal year, down from the 410 billion yen estimated in August.
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Source: USA Today

Oct 30, 2008, 06:03 PM	#1
Iria DriverHeaven Extreme Member Join Date: Apr 2004 Posts: 7,275 Rep Power: 89	Nintendo cuts annual profit forecast on strong yen Pokemon, Mario and the Wii are as hot as ever, but the onset of a headstrong yen forced Nintendo Co. to prune its money-making ambitions Thursday. The Kyoto-based video game and console maker cut its annual net profit forecast by nearly 16% because of the stronger Japanese currency, which erodes overseas earnings. It now predicts a net profit of 345 billion yen ($3.5 billion) for the fiscal year, down from the 410 billion yen estimated in August. _____________ Source: USA Today