Nintendo Co. said Thursday it posted a 9.4 percent gain in first-half profit but cut its full-year outlook as a surging yen undercut brisk sales of its popular Wii console and DS hand-held device.
The Kyoto-based company booked net profit of ¥144.8 billion in the April-September period. The result was higher than last year's profit of ¥132.4 billion but missed Nintendo's own expectations for ¥165 billion in profit.
Nintendo cut its annual net profit forecast by nearly 16 percent because of the yen's recent strength, which erodes overseas earnings.
It now predicts a net profit of ¥345 billion for the business year, down from ¥410 billion. The outlook is based on an exchange rate of ¥100 to the dollar instead of ¥105. The yen recently soared to a 13-year high near 91 to the dollar but has since eased to about 98.
Despite the global slowdown that has squeezed other exporters, demand for Nintendo's products remains robust.
Its focus on attracting nontraditional gamers such as women and seniors has yielded stellar growth in recent years.