wraggster
October 26th, 2011, 23:16
Nintendo's recurring losses for the first half of the financial year could be double what the company forecasted, Reuters reports.
The Japanese business daily Nikkei expects Nintendo to post arecurring loss of ¥100 billion (http://uk.reuters.com/article/2011/10/26/us-nintendo-idUKTRE79P0X420111026) ($1.32 billion/£823.5 million) when it publishes its financial results tomorrow - significantly higher than the ¥55 billion predicted in its guidance.
Nikkei acknowledged the strength of the Yen as an important factor, estimating that Nintendo - which makes 80 per cent of sales outside of Japan - suffered ¥40 billion in foreign exchange losses in the six month period ending September 30.
Following the report, Nintendo's shares fell by 7.5 per cent to ¥10,800 ($142.3/£88.94).
For a full breakdown of Nintendo's recent stock performance, read Rob Fahey's Stock Ticker (http://www.gamesindustry.biz/articles/2011-09-19-stock-ticker-nintendo-analysis) article.
http://www.gamesindustry.biz/articles/2011-10-26-nintendo-to-post-recurring-losses-of-100-billion-report
The Japanese business daily Nikkei expects Nintendo to post arecurring loss of ¥100 billion (http://uk.reuters.com/article/2011/10/26/us-nintendo-idUKTRE79P0X420111026) ($1.32 billion/£823.5 million) when it publishes its financial results tomorrow - significantly higher than the ¥55 billion predicted in its guidance.
Nikkei acknowledged the strength of the Yen as an important factor, estimating that Nintendo - which makes 80 per cent of sales outside of Japan - suffered ¥40 billion in foreign exchange losses in the six month period ending September 30.
Following the report, Nintendo's shares fell by 7.5 per cent to ¥10,800 ($142.3/£88.94).
For a full breakdown of Nintendo's recent stock performance, read Rob Fahey's Stock Ticker (http://www.gamesindustry.biz/articles/2011-09-19-stock-ticker-nintendo-analysis) article.
http://www.gamesindustry.biz/articles/2011-10-26-nintendo-to-post-recurring-losses-of-100-billion-report