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Nintendo's Earnings

by Billy Berghammer - May 26, 2000, 5:38 am PDT

Nintendo seem to be slipping but it's not our fault -we swear!

Nintendo losing money? It's the yen's fault dammit! Not ours!

TOKYO, May 26 (Reuters) - The following is summary of the earnings report issued on Friday by Japanese home video game machine and software maker Nintendo Co Ltd .

Nintendo said its group net profit for the business year to March, 2000, declined 34.7 percent from a year earlier to 56.06 billion yen, and expected it to grow to 82 billion yen for the current year started in April.

-- Nintendo said the yen's appreciation had reduced its group sales by 6.2 billion yen for the year to March.

-- Its earnings for 2000/01 is based on an assumed average foreign exchange rate of one dollar to 106 yen and one mark to 52 yen.

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