Not the best of times for Nintendo as the weak yen hurts them
Nintendo has posted its latest quarterly financial results and things arent looking all that good. Nintendo has not only posted a 70 billion yen loss for the previous quarter, but they also missed their sales targets for DS and 3DS software. The company has now made the bold forecast of a 20 billion yen loss for this financial year, instead of a 20 billion yen profit as previously expected. It would be the first overall loss in its history.
Its not just because sales are down however, although that still plays a big part in it. Nintendo is also struggling with the strong yen as its dealings overseas have caused Nintendo to lost 52.4 billion yen. The more business they do outside of Japan, the more it hurts them at the moment!
Theres no need to worry though, the holiday season is ramping up and Nintendo still has 591 billion yen in cash and deposits. Theyre really sitting on a ton of cash, the best thing to have in a downturning economy!
Source: Nintendo Life
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