Nintendo really needs a win at the moment if a report about the Mario maker's financials are anything to go on.
According to Reuters:
"Nintendo Co is expected to post a recurring loss of about 100 billion yen ($1.32 billion) in the first half ending on Sept. 30, much worse than the 55 billion loss the company has forecast, the Nikkei business daily said on Wednesday.
"Shares of the Japanese games maker tumbled as much as 7.5 percent after the news, to 10,800 yen."
It also quotes The Nikkei stating that Nintendo has "incurred 40 billion yen in foreign exchange losses, mostly against the euro , and would likely also post a first half net loss greater than the 35 billion yen it has projected."
Source: Reuters
According to Reuters:
"Nintendo Co is expected to post a recurring loss of about 100 billion yen ($1.32 billion) in the first half ending on Sept. 30, much worse than the 55 billion loss the company has forecast, the Nikkei business daily said on Wednesday.
"Shares of the Japanese games maker tumbled as much as 7.5 percent after the news, to 10,800 yen."
It also quotes The Nikkei stating that Nintendo has "incurred 40 billion yen in foreign exchange losses, mostly against the euro , and would likely also post a first half net loss greater than the 35 billion yen it has projected."
Source: Reuters
Companies:
Nintendo
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Comments
DrkStr 26 Oct 2011 12:22
1/2
How did they lose all of their Wii and DS money already? Wii U can't have taken that much to develop.
Ergo 26 Oct 2011 14:08
2/2
It says in the story: they took a massive hit on their currency reserves (their "Wii and DS money") and the rest is from faltering sales of Wii and DS (or at least faltering sales outside of the 4th quarter when Nintendo makes most of their sales).
They still have *tons* of cash, and the situation will probably reverse itself, to some degree, if/when the Yen depreciates or the US dollar strengthens.
They still have *tons* of cash, and the situation will probably reverse itself, to some degree, if/when the Yen depreciates or the US dollar strengthens.