Nintendo trims annual profit outlook on firmer yen

Japanese videogame maker Nintendo Co Ltd lowered by 4%on Tuesday its forecast for full-year operating profit, because of a firmer yen.

It now expects total operating profit of 480 billion yen ($3.6 billion) for the year to March 31, down from a previous forecast of 500 billion.

The latest outlook is lower than an average estimate of a profit of 582 billion yen from 21 analysts, according to Refinitiv data.

The supplier of such blockbuster game titles as “Super Mario Bros” and “Legend of Zelda” revised its software sales forecast down to 205 million units for the year to March 31 from 210 million. It cut its Switch console sales target to 18 million units from 19 million.

Nintendo, which competes with PlayStation creator Sony Group Corp and Xbox maker Microsoft Corp, sold 14.91 million Switch units in the nine months to Dec 31, compared with 18.95 million units in the same period a year earlier. Reuters