Posted April 6, 2007 Japanese video game maker Nintendo Co. is eyeing a record group recurring profit of 260 billion yen ($2.2 billion) for the year ended March 31 on strong sales of its handheld DS consoles and a weaker yen, the Nikkei business daily said on Friday. The figure, above a market estimate for a 242.4 billion yen profit by 17 analysts polled by Reuters, would represent a 62 percent rise year-on-year and would exceed Nintendo's previous forecast by 24 percent. Nintendo shares were up 1.2 percent at 34,750 yen at 0029 GMT, outperforming the benchmark Nikkei average, which was up 0.17 percent. The Kyoto-based company said on Thursday in its fourth outlook hike this year that earnings would exceed its January forecast on stronger-than-expected revenue of about 966 billion yen ($8.1 billion), but it did not give specific profit numbers. Nintendo, known for game characters like Mario and Pokemon, had forecast DS sales to reach 23 million units in the 2006/07 business year, more than double the expected shipments of Sony Corp.'s rival handheld PlayStation Portable for the same period. In February, Nintendo sold more than twice as many of its new Wii game consoles in Japan and the United States as Sony's competing PlayStation 3. The weak yen boosted the value of Nintendo's foreign-currency-based cash and other assets by 20 billion yen, the Nikkei said without citing sources. Nintendo eyes an operating profit of more than 200 billion yen, which compares with Nintendo's previous forecast of 185 billion yen, and a net profit of about 145 billion yen, about 25 billion yen higher than its January outlook, the paper said. The company is likely to raise its dividend to 550 yen per share or higher, from its dividend of 390 yen for the business year ended March 2006, the paper said. ca.today.reuters.com/ Share this post Link to post Share on other sites
Posted April 6, 2007 I told my aunt to by Nintendo shares but did she do so? No! Well, I guess it would have been quite diffucult for her since she only did something minor over the bank but still I was right. Also good to see that Ninty makes an awesome profit now compared to a few years ago. Share this post Link to post Share on other sites
Posted April 6, 2007 I told my aunt to by Nintendo shares but did she do so? No!How do you buy shares in Nintendo? I'm guessing only certain people can! Share this post Link to post Share on other sites
Posted April 6, 2007 Yeah I thought Ninty bought back all there own shares? Not sure if they are on the open market... Share this post Link to post Share on other sites
Posted April 6, 2007 How do you buy shares in Nintendo? I'm guessing only certain people can! If you've got. money, you can. Share this post Link to post Share on other sites
Posted April 6, 2007 There is only one response for these news: Share this post Link to post Share on other sites
Posted April 6, 2007 How do you buy shares in Nintendo? I'm guessing only certain people can! It was more of a joke actually. I really told her to but I knew she wouldn't and couldn't buy any. Share this post Link to post Share on other sites
Posted April 7, 2007 There is only one response for these news: You stole my post! Share this post Link to post Share on other sites
