via Games Industry


KBC Securities Japan has lowered Nintendo's stock investment rating from "buy" to "hold", and cut its price target by 30 per cent to JPY 57,500 (EUR 371.2 / USD 575.5) amid fears that demand for the Wii and DS consoles is slowing.

According to analyst Hiroshi Kamide the company believes "that it is reasonable to expect a tougher trading environment," reports Bloomberg.

KBC reduced its outlook for Nintendo's net income for the next financial year by 8 per cent to JPY 391.6 billion (EUR 2.53 billion/ USD 3.92 billion), citing 6 per cent lower DS console shipments and 5 per cent lower Wii software shipments.

Nintendo has raised its guidance three times over the past year, most recently in January, for the financial year ending March 31 - but the strengthening yen will cause the value of overseas sales to drop, which could impact the next financial year.