Nintendo cuts annual forecast by 11%

Nintendo of Japan has cut its profit expectations for this year, following a resurgent yen in Japan forcing down the domestic value of its overseas sales.

An 11% plummet in the group forecast was also blamed on slightly lower than expected sales, which were down 6.3% worldwide.

However, first half earnings are well within expectations following the sizeable cash injection from Rare’s buy-back of Nintendo shares.