Nintendo Expecting to Turn Financial Corner Soon


Nintendo Expecting to Turn Financial Corner Soon
President cites "rebuilding process" as root of losses...

Nintendo president Saturo Iwata has claimed that the company can expect to see a return to profitability in the next few years following some disappointing performances over the past few fiscals. He was careful, however, to manage shareholder expectations and rather than promising huge profits, he said he expected a moderate return to the black, with what he called "Nintendo-like profits" anticipated.

In his briefing with investors on the company's 2013 financial results, Iwata said:

Instead of seeing a great and sudden recovery in our profitability in the next fiscal year, I am rather expecting to be able to report Nintendo-like profits from around the following fiscal year. The intrinsic nature of entertainment is much broader than how we see it today. Moreover,I feel that we will be able to further stimulate our platform business by taking advantage of smart devices.

Nitnendo reported losses totalling $229 million this year, and was forced to revise its Wii U sales estimates downwards by 60% following the poor performance of the console.

Nintendo Expecting to Turn Financial Corner Soon on
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