Nintendo increases profit as sales fall - Brief Article

Electronics Times, April 23, 2001

Nintendo has put out a trading statement which shows the company expects to post an increase in profit, despite an predicted fall in sales.

For the year to March, the Japanese gaming company has revised a pre- tax profit forecast to Yen190bn (#1.08bn), a rise of Yen43bn, or nearly 30%, on a previous estimate. This has been attributed to the positive impact of the yen's depreciation.

Nintendo has lowered its sales forecast by 7.5% to Yen462.5bn from a previous estimate of Yen500bn, although it did not provide a reason.

Nintendo issued the statement after reports in Japanese newspapers predicted that it would show an operating profit of Yen85bn, which would constitute a fall of 41% year-on-year and would be below the original Yen104bn forecast.

The company also announced that the Japanese release date of the Game Cube console has been put back to 14 September from its original release date in July, while the US release will be in mid-November.

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