Nintendo Sales Rise, Profits Fall

Nintendo's financial figures for the nine months ending December 31 show a rise in sales, but a decline in profits.

Today Nintendo released its financial figures for the nine-month period ending December 31, 2008, and the news is mixed.

Net sales rose 16.7% to $17.07 billion. However, that was tempered by a 17.9% drop in net profits to $2.36 billion. The company attributed much of the profit fall to the high yen making Japanese exports more expensive.

The currency woes mean that Nintendo has revised its financial forecast for the year ending March 31, 2009. It had previously predicted $22 billion in net sales, but now says the figure is likely to be $20.2 billion, down 9%, but with net sales up 8.8%.