We store cookies, you can get more info from our privacy policy.
GC

NCL's Financial Report Details

by Max Lake - May 24, 2001, 7:32 pm EDT
Source: Yahoo! News

Nintendo plans to sell four million GameCubes by March 2002, along with ten million GameCube games. Lots of numbers await inside...

Early this morning in lieu of its financial meeting, Nintendo Co Ltd forecast a 41.7 percent jump in its group operating profit in the current year to March 2002 to 120 billion yen ($999.7 million) upon its launch of the GameCube system, on September 14th in Japan and November 5th in the U.S.

Big gains from a weaker yen sent Nintendo's profits soaring 72 percent for the latest fiscal year despite less than stellar sales of its Nintendo 64 gaming console. Nintendo earned 96.6 billion yen ($806 million) in the year ended March 31, up from 56.1 billion yen the previous year. Revenue fell 13 percent to 462.5 billion yen ($3.9 billion) from 530.7 billion yen a year ago. Nintendo earnings received a 66.34 billion yen ($554 million) boost from currency fluctuations. A weaker yen helps boost the earnings of exporters like Nintendo.

The Kyoto-based company plans to sell four million GameCube consoles along with 10 million items of software, along with 23.5 million Game Boy consoles and 77.5 million software titles.

Nintendo sold 19.9 million Game Boy and Game Boy Advance machines and 78.9 million Game Boy and Game Boy Advance games in fiscal 2000. Global sales of the Nintendo 64 machines fell by more than half from a year ago to 2.8 million. The company is forecasting group net profits of 80 billion yen ($668 million) on sales of 580 billion yen ($4.8 billion) for fiscal 2001 ending March 2002. It expects operating profits will reach 120 billion yen ($1.2 billion).

Got a news tip? Send it in!
Advertisement
Advertisement