Nintendo lowers profit outlook on firmer yen

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

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

According to Refinitiv data, the latest outlook is less than the average estimate of a profit of 582 billion yen from 21 analysts.

The software sales forecast for the year to March 31 was lowered from 210 million units as Super Mario Bros and Legend of Zelda. It has cut its Switch console sales target to 18 million units from 19 million.

In the nine months to December 31, Nintendo sold 14.91 million Switch units compared to 18.95 million units in the same period a year ago, compared to the same period a year ago, as Sony Group Corp and Xbox maker Microsoft Corp.