Nintendo News | Rakin

Thanks to the strong festive sales period and beneficial currency movements, Nintendo have more than doubled their year-on third quarter profit margins. The third fiscal quarter, which runs from October 1st to December the 31st, brought in profits of 55.6 Billion Yen (269 Million GBP, 392 Million Euro or 479 Million USD) over 21.3 Billion Yen (150 Million Euro) during the same period last year.



Despite forecasts of a further strong quarter to round the fiscal year out (Quarter four, running January 1st to March 31st), with exceptionally strong sales for the Nintendo DS and its Software throughout the world including the release of the DS Lite in Japan, Nintendo is hesitant to raise any profit forecasts.



The Kyoto-based firm is sticking to net profit forecasts of 75 Billion Yen (363 Million GBP, 529 Million Euro or 646 Million USD), down slightly from last year's net profit of 87.4 Billion Yen, largely down to the volatile currency market. Massive reserves of assets are held overseas in the United States and can easily be devalued by a weak exchange rate.



However Nintendo of Japan may issue a profit revision after the close of the fiscal year when the market can be more accurately read, and any announcement of this will likely come in April. The full fiscal report is expected sometime in May, when full operation Revenue and Profit will be detailed for the 2005/6 fiscal year.



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