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Sunday, May 28, 2006

Nintendo Profits Up - Stocks Down


Nintendo profits are up by about 12.5% in this fiscal year thanks to massive sales of the DS and the current exchange rates. That makes about $877 million, up from $776 million the year before. Even with all this good news, their shares still managed to fall just over 7%.

2005 sales slipped 1.2 per cent to 509.2 billion yen ($4.5 billion US) from 515 billion yen.

Next years sales are expected to be 65 billion yen ($579 million US) for the fiscal year ending March 31, 2007, although sales are projected to climb to 600 billion yen ($5.3 billion US).

http://www.forbes.com/2006/05/25/nintendo-wii-iwata-cx_po_0525autofacescan02.html

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