Nintendo posts 1st annual loss, predicts return to profit

Reuters News
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Posted: Apr 26, 2012 3:13 AM

TOKYO (Reuters) - Nintendo Co Ltd said on Thursday it will return to profit this year, helped by a weakening yen, after posting its first annual operating loss on shrinking sales of its ageing Wii gaming console and weak demand for its new 3DS handheld device.

For the current financial year to March 31, Nintendo predicted operating profit of 35 billion yen ($429.9 million), compared with a consensus estimate of a 40 billion yen profit, based on forecasts by 20 analysts surveyed by Thomson Reuters I/B/E/S.

The operating loss of 37.3 billion yen in the year just ended compared with a consensus estimate of a 41.4 billion yen loss. ($1 = 81.4100 Japanese yen)

(Reporting by Tim Kelly; Editing by Alex Richardson)