Nintendo returns to profit after boost from weak yen

Wednesday 24 April 2013 09.26
Nintendo reports annual profit of 7.1 billion yen
Nintendo reports annual profit of 7.1 billion yen

Nintendo returned to profit for the fiscal year ended March 31 as a lift from the weak yen offset sales struggles caused by software delays for its latest home console Wii U.

The Kyoto-based maker of Super Mario and Pokemon games today reported an annual profit of 7.1 billion yen ($72 million), a reversal from a 43 billion yen loss the previous year.

But the company's annual sales dipped 1.9% to 635.4 billion yen ($6.4 billion).

The dollar has been trading at 95 yen levels in recent months, and is now above 99 yen, up dramatically from 80 yen a year earlier - a boon for Japanese exporters like Nintendo.

Nintendo said it expects profit to balloon to 55 billion yen ($555 million) this fiscal year. It did not break down its quarterly results.

Keywords: nintendo, wii, yen