Nintendo expects £535 million loss in revised forecasts

26 Jan 2012 at 15:24:33 by John Robertson

For the financial year ending 31 March 2012, Nintendo has revised it forecasts and now expects a loss of  ¥65 billion (£535 million). Previous forecasts expected a loss of ¥20 billion (£165 million).

Accompanying the forecast came news that Nintendo has lost  ¥48.3 billion (£398.2 million) over the first three quarters of the financial year. The same period last year saw a profit of  ¥49.5 billion (£407.3 million).

The loss is being blamed on the global price cut of Nintendo's 3DS this past August and the continuing strength of Japan's Yen against other world currencies.

There is good news on the horizon however, with Nintendo president Satoru Iwata confirming that the Wii U will definitely be available in Japan, Europe and the United States by the end of 2012.

Comment