15-Year Low
Operating income will be 33 billion yen this fiscal year, down from an earlier projection of 50 billion yen. The currency fluctuation reduced profit by 20 billion yen, Nintendo said. The company cuts its projection for sales 12 percent to 500 billion yen, the lowest revenue level in at least 15 years.
“Sales of the 3DS fell short of our targets from January,” Nintendo spokesman Yasuhiro Minagawa said. “After adding the impact of stronger yen, we had no choice but to revise.”
The forecast cut shows how much is riding on Nintendo’s foray into mobile. The shares rose 33 percent last year, fueled by the March announcement that the company planned to develop titles for mobile devices made by other companies. Much of the gains were lost, however, after Nintendo delayed the debut in October.
