Nintendo will tomorrow report a gargantuan loss, according to a Japanese newspaper.
Nintendo will post a loss of about 100 billion yen (£820 million) for the first half ending 30th September 2011, the Nikkei business daily reported today (via Reuters).
That's a substantial increase on the 55 billion yen loss Nintendo forecast. Nikkei said it expects Nintendo to post a first half net loss greater than the 35 billion yen it projected. Shares dropped by 7.5 per cent following the news.
Nintendo has this year suffered a battering from an increasingly strong yen and slow Nintendo 3DS sales.
Nintendo will be hoping 3DS games such as Mario Kart 7 and Super Mario 3D Land, couple with the cheaper price of the console itself, will boost sales this Christmas.
And despite the losses, Nintendo expects to make a full-year operating profit of 35 billion yen (£287 million).
Nintendo will announce its second quarter report tomorrow.