Kyoto-based Nintendo Co., Ltd. released its financial statement from the previous quarter earnings. Net sales were down compared to the same time last year — down by 40 percent, that is.
Obviously, Nintendo experienced phenomenal sales during the same period last year and faced a much more optimistic global economy.
According to Nintendo, "In the console business, there were fewer blockbuster software titles that briskly drove hardware sales this June quarter versus the same period a year ago when titles like Mario Kart Wii and Wii Fit were launch in overseas markets."
What's more, the high appreciate of the Japanese yen has negatively impacted net sales to the tune of ¥253 billion compared to ¥423 billion during the same period last year.
Net income was also down, clocking at ¥42.3 billion — a 60.6 percent drop. Even in this downward economy, Nintendo certainly does remain profitable, just not as profitable.