Nintendo April-June Net Profit Down 45.7 Pct

Economy

Osaka, July 30 (Jiji Press)--Japanese game maker Nintendo Co. <7974> said Tuesday its group net profit for April-June dropped 45.7 pct from a year before to 16,604 million yen due mainly to foreign exchange losses.

The currency losses totaled 12 billion yen chiefly because of the yen's appreciation against the euro. Another drag to the earnings came from a one-billion-yen increase in research and development spending.

Meanwhile, sales for the first quarter of fiscal 2019 rose 2.4 pct to 172,111 million yen, backed by strong sales of its core product, the Nintendo Switch home-mobile hybrid game console, and its software.

Among the Switch software titles, Super Mario Maker 2, released in June, got off to a brisk start.

Nintendo said it has not decided when to launch the console in China, the world's biggest game market.

[Copyright The Jiji Press, Ltd.]

Jiji Press