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How big is the shift in the yen?

The single biggest factor in hampering Nintendo's finances in the last couple of years has been the strong yen: it completely eroded their ability to post meaningful profit. Obviously a weaker yen wouldn't have seen Nintendo return to DS/Wii type profits, but it would have changed the conversation around Nintendo from "Losses because of smartphones and so on and so forth" to "Nintendo continues to grind out profit despite increasing competition".

If, even with the weaker yen and profitable 3DS business, Nintendo don't manage to profit over-all, then serious questions should now be asked about their core business. Nintendo have repeatedly missed their own sales estimates recently; software sales on 3DS in particular have really undershot expectations. With Wii U sales grinding down at an alarmingly fast rate, Nintendo need to do something to be able to sell more software. Releasing titles would be a big help (this quarter is very quiet), but I firmly believe Nintendo need to introduce more flexible pricing across digital and retail to shift more software and strengthen their long-term outlook.