Nintendo sinks into bigger quarterly loss on weak sales
A woman walks past an advertising board of Nintendo in Tokyo on February 2, 2016. AFP
TOKYO — Japanese video-game maker Nintendo Co. is reporting a 24 billion yen ($216 million) loss for January-March, bigger than the loss it reported the previous year.
Quarterly sales fell 26 percent on-year to 78.8 billion yen ($708 million) as overseas revenues were hurt by a stronger yen.
Article continues after this advertisementIt racked up a nearly 18 billion yen quarterly loss the previous year.
The Kyoto-based company behind Pokemon and Super Mario games said Wednesday it expects to recover to a 35 billion yen ($314 million) profit for the fiscal year ending in March 2017.
For the fiscal year just ended, it earned 16.5 billion yen ($148 million), down 61 percent from the previous fiscal year.
Article continues after this advertisementRecent sales of Nintendo’s Wii U machine have lagged rivals Sony’s PlayStation 4 console and Microsoft’s Xbox One. TVJ
