Nintendo Detail Fiscal Results, Profit Decline

Nintendo held an investors meeting in Japan earlier today, confirming a decline in net sales and profits since March 2010.

Financial results for the fiscal year ending March 31st are in, revealing a slight drop in figures compared to the previous year. Net sales fell 29.3% from 1,434 billion yen (£10.6 billion) in 2010 to 1014 billion yen (£7.5 billion) this time round. Profits also took at hit, coming in at 77.6 billion yen (£574 million), compared to 228.6 billion yen (£1.69 billion).

All three Nintendo consoles performed well however, with the latest of the company's many offspring, the 3DS, within touching distance of Nintendo's initial expectations.

The 3DS sold 3.61 million units from launch until March 31st, almost reaching the 4 million global target.

The Wii on the other hand sold 15.08 million, joined by 17.52 million new DS owners.

Software across the board came to 301.67 million units during the last fiscal year.

For the coming year, ending March 31st 2012, Nintendo is forecasting net sales of ,100 billion yen (£8.1 billion) - an increase of 8.4%. Profit forecast is seeing a rise of 41.7% to 110 billion yen (£813.5 million).

It looks like the Wii successor will not be released in the forthcoming year (before April 2012), with Nintendo excluding the new format from its projections.