Nintendo raises net profit forecast on Switch console and yen

By AFP
Published: January 31, 2018
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31-year-old Nao Imoto posing with her newly purchased Nintendo Switch game console at a shop in Tokyo. Nintendo nearly doubled its full-year profit forecast as it pointed to sizzling sales of its Switch games console and a cheaper yen for the upbeat outlook. 
PHOTO: AFP

31-year-old Nao Imoto posing with her newly purchased Nintendo Switch game console at a shop in Tokyo. Nintendo nearly doubled its full-year profit forecast as it pointed to sizzling sales of its Switch games console and a cheaper yen for the upbeat outlook. PHOTO: AFP

Nintendo upgraded its annual net profit estimate by more than 40 per cent Wednesday after its popular Switch console flew off shelves during the holiday season, fuelled by a cheaper yen.

The Kyoto-based video game giant said it now expects an annual net profit of 120 billion yen ($1.1 billion), a 41.2 per cent rise from the previous estimate issued in October, while also increasing annual sales and operating profit projections.

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The company cited strong sales of Switch as lifting its performance during the April-December period.

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