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Nintendo Profits Hit Four Year Record
April 4, 2006
Fiscal year earnings for Nintendo are out, and it would appear that the Kyoto-based company had the best profits that it has seen since 2001, enjoying an increase of 8.7 percent to 95 billion yen ($808 million) in the year ending March 31. However, about 45 billion yen came from Japan's currency being weaker than expected against the US dollar.
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This is because Nintendo holds a large sum of money in foreign currencies, with about $3.5 billion US, and $1.1 billion euros. With that, the company saw an exchange rate of 117.47 yen to the dollar, and 142.81 yen to the euro, whereas they were initially expecting 110 yen to the dollar, and about 135 yen to the euro.
Nintendo share holders will probably also be quite happy to hear that dividends have been increased to 370 yen, almost triple the 140 yen that the company originally projected. |
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