Nintendo loses more than $350M in first half of 2012 fiscal year
Nintendo has just announced it's earnings from the first half of 2012, and they've reported losses of $351 million, or ¥28 billion, significantly worse than they originally predicted.
For the first half of the 2012 fiscal year, Nintendo was expecting losses of around $250 million, or ¥20 billion. However, as their report shows, the actual losses are significantly higher; around $350 million, or ¥28 billion. Much of this came in the first quarter, when they reported being down $220 million. They attribute this partially to disappointing 3DS sales and stagnation of Wii sales; even though this is still an improvement over the losses the company reported for the same quarter in 2011.
One source of the lost $350 million is the strengthening of the yen. As the yen grows stronger, other currencies become comparatively weaker, and profits from exported products decreases.
That being said, the year is not over yet, and the second half will see the launch of Nintendo's new and highly anticipated console, the Wii U. Some people have already gotten in line for it, so it will no doubt have an impact on Nintendo's finances, and perhaps help earn back some of those losses.