Nintendo profit on falling yen
Foreign investments pay off handsomely
Yesterday we reported that console-turned-software developer Sega Corporation's losses had risen spectacularly in light of the Dreamcast's cancellation. Well today we discovered that another big games corporation, Nintendo, is actually experiencing a surge in profits, mainly thanks to the value of the yen against the currencies of its foreign stakeholdings. Analysts expect a 69% rise in profits thanks to the yen's fall-off. Pokemon software alone is expected to accrue 95 billion yen (or $774 million) for the company's last fiscal year, up from 56.1 billion yen a year before. Although sales of the ageing Nintendo 64 dropped off exponentially, Nintendo will no doubt be cracking open champagne in light of the profits. With the GameCube due to pip Xbox to the post and dominate the Japanese games market, analysts have Nintendo down for even more impressive results next year, despite R&D losses on the console. The GameBoy Advance, a sure-fire moneyspinner, is also just about to hit circulation the world over, having been released in Japan a month ago. Actual earnings will probably be reported at 4pm tomorrow. Related Feature - Sega's losses widen