Nintendo kicked in the Wii, posts net loss for fiscal Q1

Jul 29, 2010

Nintendo reported its financials for its fiscal Q1 this week and posted a significant loss for the quarter. The quarter spanned April through June for the gaming firm. The strong Yen is pointed to as the major reason the company posted a loss.

The strong Yen hurt Nintendo operations in countries other than Japan where Nintendo makes 87% of its revenue. The strong yen cancelled out cost cutting measures and improving sales of Nintendo consoles like the DS portable.

Nintendo reported a net loss of $288 million according to the WSJ. Nintendo also reported an asset valuation loss of 70.5 billion yen. A price cut on the DS console in Japan and Europe, which continues to be the top selling console for Nintendo also affected profits.

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