Nintendo avoids second annual net loss

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Nintendo has reported full year profits of ¥7 billion (£46.7m) for the year ending March 31, 2013, up from a huge loss of ¥43.2 billion (£284m) in the previous year.

However, the ¥7 billion was only half the ¥14 billion Nintendo had estimated it would make.

Sales were ¥635.4 billion (£4.1bn), down from a revised target of ¥670 billion, and an operating loss of ¥36.4 billion (£239.5m) was also recorded.

Poor sales of both the Wii U and 3DS consoles have been blamed, a situation the firm is confident it can turn around in the coming year.

Estimates of nine million Wii U consoles and 18 million 3DS consoles will see net profits of ¥55 billion, Nintendo has forecast.

Source: Press release | Financial documents

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