Nintendo’s financial year is looking grim

Well, it’s looking grim by Nintendo standards, which is to say that they’re not posting their normal 55 bajillion yen profit. In fact, it’s kind of the opposite, as the Japanese company has just issued its third quarter financial statements for the current fiscal year.

Nintendo has forecasted a much lower annual turnover than initially expected and this is largely thanks to underperforming hardware sales and a stronger Yen, which makes things expensive for foreign countries to purchase Japanese exports.

Initially, Nintendo forecasted a loss of ¥20 billion, which is just over R2 billion. Now, however, that forecast is looking a little grimmer, with the expected loss to come in at ¥65 billion, or R6.5 billion by March 2012.

Nintendo has reported a total loss of ¥48.3 billion up to December 2011. This time last year they were reporting a profit of ¥49.5 billion.

It’s not all doom and gloom however, as they’ve also announced that there are now 15.03 million Nintendo 3DS in people’s clammy paws. On top of that, the Wii has a lifetime sales figure of 94.97 million units.

Nintendo has also announced that the upcoming Wii U console will see a global release before the end of 2012. They are anticipating having the Wii successor in retail stores in Japan, USA, Australia and Europe for this year’s festive season.

Source: Eurogamer Article 1 and Article 2