Nintendo Co. powerhouse dizzied

With so many companies in bed together, the 2008 Japanese electronic circuit (pun intended) lost ¥60 billion compared to last year. Smack down!

The freeze in American credit has locked down the world market. Some positive gains were made on the hope of swift passage of President Obama's stimulus package, which looks to be manhandled by the Senate for awhile. Still Nintendo stocks could not support the weight of the companies they cross-share with; an unintentional affair.

The relative fall of Mitsubishi UFJ dropped Nintendo 22 percent in Tokyo trading in the third quarter. The bigger blow was yet to come.

In December, electronics maker Sharp booked ¥43 billion in losses, after share prices sunk, reports The Japan Times. Sharp was expected to take a major hit for the current year because it was ordered by the Fair Trade Commission in late December to pay a fine of ¥26 million for colluding with Hitachi Displays Ltd. to fix prices on liquid crystal display modules used in Nintendo's game consoles.

Nintendo Co. said net profit for the April-December period fell 18 percent as a strong yen cut into the never-ending demand for its consoles, leaving the company to slash its full year forecast. Nintendo's net profit declined to ¥213 billion from a projected ¥259 billion.

Nintendo Co. experienced the best of a bad, or bed year.

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