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Report - Nintendo to post huge first-half losses

Japanese newspaper Nikkei is reporting that Nintendo is set to report losses as much as ¥100 billion (£823 million/$1.32 billion) for first-half 2011 as part Q2 financials tomorrow morning.

The company had previous predicted a loss of ¥55 billion (£453 million/$724 million) for the period between April and September of this year.

Share prices in the company dropped 7.5% to ¥10,800 following the report from Nikkei. The paper claimed Nintendo will write down ¥40 billion in foreign exchanges lost against a weakening Euro.

Nintendo, who refused to comment on the paper's story (via Reuters), cut its full-year operating profit earlier this year to ¥35 billion in the wake of the price-cut given to 3DS in August.

The full Q2 financials will be out tomorrow morning.

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Johnny Cullen

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Johnny has experience at a wide range of games media outlets, having written for Eurogamer, Play Magazine, PC Gamer, GameDaily, and more. He worked at VG247 pumping out news at an astonishing rate for several years. More recently, he founded the games website PlayDiaries.

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