Nintendo Co. says its net profit for the April-December period fell 18 percent as the strong yen cut into strong demand for its gaming products, forcing the company to slash its full year forecast.
The maker of the popular Wii console and DS hand-held device reported Thursday that net profit fell to ¥212.5 billion for the first nine months of the business year.
With the yen's recent strength against the dollar and other currencies, Nintendo cut its outlook for the full fiscal year through March. It now estimates net profit of ¥230 billion, down from its previous forecast of ¥345 billion.
Revenue for the nine-month period jumped 17 percent to ¥1.54 trillion, while operating profit increased 27 percent to ¥501.3 billion.
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