Business strategy will be discussed Thursday.
http://www.nintendoworldreport.com/news/36429
Nintendo’s profit fell 30 percent in the nine months between April 1 and December 31, 2013 according to according to Nintendo’s Third Quarter Earnings Report released today.
Overall profit was reported at 10.2 billion yen ($99.7 million) which was down from the 14.55 billion yen ($142.6 million) from the previous year. Quarterly numbers were not reported.
The drop in profits has been attributed to slow Wii U sales and price markdowns of the system in the US and Europe. Earlier this month, Nintendo lowered its expectations for the console’s annual forecast from 9 million to 2.8 million units.
Nintendo's earnings report also cited a decrease in the value of yen as a contributing factor in the profit loss: "Due to depreciation of the yen against the U.S. dollar and euro, expenses that were initially quoted in foreign currencies grew when converted into yen, with total selling, general and administrative expenses exceeding gross profit, resulting in an operating loss of 1.5 billion yen."
An analyst conference will be held Thursday and will focus on plans for a new business strategy. Nintendo will discuss mobile gaming decisions as well. According to Iwata "how to utilize smart devices is the theme of our management policy conference".
wait, waitwaitwait.... weren't we complaining about the Yen's high strengh in comparison to the USD and Euro hurting business the previous years??? O_o;;
*Insert nintend00med comment here*
