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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World Nintendo nine-month net profit plunges 74.3% AFP - Friday, January 28 Send IM Story Print TOKYO (AFP) - – Videogame giant Nintendo Co. said Thursday its group net profit plunged 74.3 percent for the nine months ended December, hit by a huge foreign exchange loss and a continued sales slump. The maker of the hit "Super Mario Bros" series said its bottom-line profit came to 49.6 billion yen ($604 million) in the period, down from 192.6 billion yen a year earlier. Group operating profit tumbled 46.5 percent to 158.8 billion yen for the nine months, and sales dropped 31.7 percent to 808.0 billion yen. Nintendo said it booked 84.4 billion yen in foreign exchange losses for the period, eroding profits considerably. The strength of the Japanese currency has put many of the nation's growth-driving exporters at a disadvantage by making their products more expensive overseas and eroding their repatriated earnings. The yen struck a 15-year high of 80.21 versus the dollar in November, but has since eased back and was trading around the 82 level in Tokyo Thursday. In the nine months, the video game giant released "Super Mario All-Stars Limited Edition" and "Wii Party" for its "Wii" console as well as "Pokemon Black Version" and "Pokemon White Version" for its "Nintendo DS". "However, sales did not reach last year's monthly record sales results in the United States in both Nintendo DS and Wii hardware," Nintendo said in a statement. Nintendo left unchanged its full-year forecasts, bracing for a 60.6 percent plunge in net profit to 90 billion yen, which it announced last year after revealing its highly anticipated 3DS console would miss the Christmas season. The new-generation DS machine -- which allows users to play 3D games without the need for special glasses -- will be released on February 26 in Japan and in March in the United States, Europe and Australia. "Nintendo has explored its own fan group of DS portables and it expects that they will switch to the new version of DS," said Hiroshi Sakai, an analyst at SMBC Friend Securities. But it is facing increased competition in the space from rivals such as Apple, whose iPhone and iPad are taking a growing chunk of the mobile gaming space. Rival Sony on Thursday announced it would launch a new handheld console, code-named NGP (Next Generation Portable) boasting cutting edge technology and 3G network compatibility. For the nine-month period, Nintendo sold 13.7 million Wii consoles worldwide, down 19.5 percent from a year earlier. Sales of its Nintendo DS portable game machines fell 32.8 percent to 15.70 million units. Nintendo lowered its sales forecast for the Wii for the full fiscal year through March to 16 million units from 17.5 million, and for the DS handheld estimates were cut to 18.5 million from 19.5 million. Recommend Send IM Story Print Related Articles Wi-LAN settles with Motorola units Reuters - 31 minutes ago DAVOS-UPDATE 1-China to open up yuan cautiously, boost trade Reuters - 34 minutes ago Gene protects US blacks from heart disease - study Reuters - 36 minutes ago CORRECTED-ADR Report-Japanese ADRs undeterred by rating cut Reuters - 45 minutes ago Audi says China unit sales of 280,000 possible -TV Reuters - 54 minutes ago News Search Top Stories Egypt activists keep up the heat, boosted by ElBaradei 'Thunder-snow' storm buries US north-east Sarkozy: 'Merkel and I will never let the euro fail' Rosneft, Exxon ink Black Sea exploration deal Baghdad car bomb kills 37 mourners More Top Stories » ADVERTISEMENT Most Popular Most Viewed Bad eating can give you depression: study Cruz, Bardem baby boy 'doing great': spokeswoman Marooned Miami bay piano strikes odd note T. rex still king, says dino study Rare Sumatran tiger gives birth to three cubs More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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