ETC Nintendo Comments on Losses

Nintendo have had a bit of a rough ride ,financially speaking, over the past few year and to counteract a possible slump in the companies share price Nintendo's own Tatsumi Kimishima comented on the last three years.

In part of the statement Tatsumi Kimishima said:

"Please let me comment on the operating losses for three consecutive years. Two and three fiscal years ago, the extremely strong yen and transition between our video game platforms mainly put our revenue and expenses off balance. For the last fiscal year, under the improved foreign currency exchange situation, we made various efforts to retrieve "Nintendo-like" profits. We, however, could not achieve these results as the sales of our main hardware and software products ended up being well below our forecasts, and we incurred temporary one-off expenses from the purchase of technology that we did not expect at the beginning of the fiscal year. I feel deeply responsible for this and I need to fulfill my responsibility by recovering the momentum of our business.

We would like to retrieve "Nintendo-like" profits as soon as possible. However, the success of a video game platform business depends greatly on its momentum, and it inevitably takes time to rebuild the business once the platform has lost its momentum.

Posting an operating loss for the fourth fiscal year running is something unacceptable. We see this fiscal year as a time to prioritize restoration of the balance of revenue and expenses."

Posted on 08-05-2014 by Andrew


There are no comments yet on this article.
You could be the first one!

Post a new comment

To place a comment, you need to be logged in.
Register or log in.
Follow us on Twitter Follow us on Facebook Follow us on YouTube Follow us through RSS