Post by *NormalGamer* on Apr 4, 2006 11:22:36 GMT -5
www.bloomberg.com/apps/news?pid=10000101&sid=aUteI8vvyUMg&refer=japan
Nintendo Says Annual Profit Climbed on Weaker Yen, Portable Video Games
Nintendo Profit Gains on Weaker Yen, Video Game Sales (Update1)
April 4 (Bloomberg) -- Nintendo Co., the world's biggest maker of handheld video-game players, said annual profit rose to a four-year high, helped by currency-related gains and sales of its DS portable game player. The company raised its dividends.
Net income climbed 8.7 percent to 95 billion yen ($808 million) in the year ending March 31, the Kyoto-based company said in a statement to the Tokyo Stock Exchange. That compares with its earlier forecast that profit would drop 14 percent to 75 billion yen from 87.4 billion yen a year ago. Today's results are preliminary, and the company will report final earnings at a later date.
The DS game player, which allows users to play games by touching one of the gadget's two screens, as of February has sold more than 6 million units in Japan since it was introduced in December 2004. The company targets 10 million units in sales in Japan by year-end, as it introduces a thinner and lighter model called the DS Lite and add features such as a Web browser and digital TV tuner.
Sales fell about 3 percent to 500 billion yen, in line with its earlier estimate, today's statement showed. The company used an exchange rate of 117.47 yen to the dollar and 142.81 yen to the euro for the earnings statement. In January, the company was forecasting a rate of 110 yen to the dollar and 135 yen to the euro. The weaker yen helps boost the value of overseas earnings when they are repatriated.
Nintendo also said it would pay a 370 yen dividend for the full year, compared with its earlier plan to pay at least 140 yen and the 270 yen it paid out in fiscal 2004.
Shares of Nintendo gained 1.1 percent to 17,630 yen as of 2:34 p.m. in Osaka, paring earlier losses. Nintendo's full-year net income is the highest since its 106 billion yen profit in fiscal 2001.
Nintendo Says Annual Profit Climbed on Weaker Yen, Portable Video Games
Nintendo Profit Gains on Weaker Yen, Video Game Sales (Update1)
April 4 (Bloomberg) -- Nintendo Co., the world's biggest maker of handheld video-game players, said annual profit rose to a four-year high, helped by currency-related gains and sales of its DS portable game player. The company raised its dividends.
Net income climbed 8.7 percent to 95 billion yen ($808 million) in the year ending March 31, the Kyoto-based company said in a statement to the Tokyo Stock Exchange. That compares with its earlier forecast that profit would drop 14 percent to 75 billion yen from 87.4 billion yen a year ago. Today's results are preliminary, and the company will report final earnings at a later date.
The DS game player, which allows users to play games by touching one of the gadget's two screens, as of February has sold more than 6 million units in Japan since it was introduced in December 2004. The company targets 10 million units in sales in Japan by year-end, as it introduces a thinner and lighter model called the DS Lite and add features such as a Web browser and digital TV tuner.
Sales fell about 3 percent to 500 billion yen, in line with its earlier estimate, today's statement showed. The company used an exchange rate of 117.47 yen to the dollar and 142.81 yen to the euro for the earnings statement. In January, the company was forecasting a rate of 110 yen to the dollar and 135 yen to the euro. The weaker yen helps boost the value of overseas earnings when they are repatriated.
Nintendo also said it would pay a 370 yen dividend for the full year, compared with its earlier plan to pay at least 140 yen and the 270 yen it paid out in fiscal 2004.
Shares of Nintendo gained 1.1 percent to 17,630 yen as of 2:34 p.m. in Osaka, paring earlier losses. Nintendo's full-year net income is the highest since its 106 billion yen profit in fiscal 2001.
