Nintendo returns to profit after boost from weak yenWednesday 24 April 2013 09.26
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.