Nintendo Hikes Profit Forecast

Nintendo Co. on Friday raised its profit forecast by more than one quarter for the current business year on strong sales of its Wii and DS video game consoles as well as a weaker yen. Net profit is now expected to surge 59% to a record 410 billion yen (US$3.7 billion) in the year to March, up from a previous goal of 325 billion yen. Operating profit is predicted to increase 33% to 650 billion yen, up from 530 billion yen forecast previously. The Japanese game giant is enjoying brisk sales overseas, said Koki Shiraishi, analyst of Daiwa Research Institute. It should continue to enjoy solid sales in the upcoming Christmas sales season, Shiraishi said, adding that the game market generally remains stable even in tough economic conditions. Nintendo now expects to sell 26.5 million Wii machines and 30.5 million DS consoles in the current business year. Nintendo, the video game giant behind Mario and Donkey Kong, has long dominated the market for handheld machines with its Game Boy and DS series. Copyright Agence France-Presse, 2008