Fluctuations in foreign exchange rates nearly doubles Nintendo"s profit expectations for first half of FY 2004.
Nintendo today announced that it has raised its net profit estimate for the first fiscal half of fiscal year 2004 (from April to September) from its original forecast of 25 billion yen ($225 million) up to 46 billion yen ($415 million). While the company"s consolidated sales have declined 12 percent from last year down to 185 billion yen ($1.67 billion) mainly due to price cuts on its Game Boy Advance, the company"s operating profits were up 39 percent to 40 billion yen ($360 million).