Nintendo raised its fiscal year profit forecast by 26 percent from an earlier figure yesterday, citing healthy sales of its Wii home console and DS hand-held game machines.
Nintendo Co also credited a recovering US dollar for its new projection of a ¥410 billion (US$3.8 billion) profit for the fiscal year ending March next year.
The Kyoto-based company had previously forecast a ¥325 billion profit for the fiscal year. The revised projection would mark a 60 percent jump in profit compared with last fiscal year.
The Japanese maker of Super Mario and Pokemon games also raised its sales forecast for the fiscal year ending March next year to ¥2 trillion from an earlier ¥1.8 trillion.
Nintendo said it expects to sell 26.5 million Wii machines in the fiscal year ending March next year — better than the initial estimate of 25 million and the 18.6 million sold the previous fiscal year ending last March.
Nintendo revised its forecast for DS sales upward to 30.5 million units for the fiscal year through March next year, from 28 million. It sold 30.3 million DS machines the previous fiscal year.
Favorable exchange rates are also expected to help earnings, Nintendo said in a statement. Nintendo now expects the US dollar to cost ¥105, higher than the previous estimate of ¥100.
A stronger US dollar boosts the earnings at Japanese exporters like Nintendo by lifting the value of overseas earnings translated into yen.
Last month, Nintendo reported a 34 percent jump in April-June profit at ¥107.27 billion.
Behind the stellar performance is the hit Wii and its game software, including “Wii Fit,” which has drawn the health-conscious to simple exercises like yoga and aerobics.
The company has now sold worldwide a cumulative 29.6 million Wii machines, which has a trademark wand-like remote controller.
‘UPHOLDING PEACE’: Taiwan’s foreign minister thanked the US Congress for using a ‘creative and effective way’ to deter Chinese military aggression toward the nation The US House of Representatives on Monday passed the Taiwan Conflict Deterrence Act, aimed at deterring Chinese aggression toward Taiwan by threatening to publish information about Chinese Communist Party (CCP) officials’ “illicit” financial assets if Beijing were to attack. The act would also “restrict financial services for certain immediate family of such officials,” the text of the legislation says. The bill was introduced in January last year by US representatives French Hill and Brad Sherman. After remarks from several members, it passed unanimously. “If China chooses to attack the free people of Taiwan, [the bill] requires the Treasury secretary to publish the illicit
A senior US military official yesterday warned his Chinese counterpart against Beijing’s “dangerous” moves in the South China Sea during the first talks of their kind between the commanders. Washington and Beijing remain at odds on issues from trade to the status of Taiwan and China’s increasingly assertive approach in disputed maritime regions, but they have sought to re-establish regular military-to-military talks in a bid to prevent flashpoint disputes from spinning out of control. Samuel Paparo, commander of the US Indo-Pacific Command, and Wu Yanan (吳亞男), head of the People’s Liberation Army (PLA) Southern Theater Command, talked via videoconference. Paparo “underscored the importance
NO HUMAN ERROR: After the incident, the Coast Guard Administration said it would obtain uncrewed aerial vehicles and vessels to boost its detection capacity Authorities would improve border control to prevent unlawful entry into Taiwan’s waters and safeguard national security, the Mainland Affairs Council (MAC) said yesterday after a Chinese man reached the nation’s coast on an inflatable boat, saying he “defected to freedom.” The man was found on a rubber boat when he was about to set foot on Taiwan at the estuary of Houkeng River (後坑溪) near Taiping Borough (太平) in New Taipei City’s Linkou District (林口), authorities said. The Coast Guard Administration’s (CGA) northern branch said it received a report at 6:30am yesterday morning from the New Taipei City Fire Department about a
CHINA POLICY: At the seventh US-EU Dialogue on China, the two sides issued strong support for Taiwan and condemned China’s actions in the South China Sea The US and EU issued a joint statement on Wednesday supporting Taiwan’s international participation, notably omitting the “one China” policy in a departure from previous similar statements, following high-level talks on China and the Indo-Pacific region. The statement also urged China to show restraint in the Taiwan Strait. US Deputy Secretary of State Kurt Campbell and European External Action Service Secretary-General Stefano Sannino cochaired the seventh US-EU Dialogue on China and the sixth US-EU Indo-Pacific Consultations from Monday to Tuesday. Since the Indo-Pacific consultations were launched in 2021, references to the “one China” policy have appeared in every statement apart from the