Nintendo to post £823 million loss - report

Shares tumble ahead of tomorrow's financial results

Nintendo is expected to reveal a pre-tax loss of 100 billion yen (£823 million) tomorrow when it reports its financial results for the first half of the year ended September 30.


Japanese business publication Nikkei said the firm incurred 40 billion yen in foreign exchange losses, mostly against the euro, and that it's likely to post a first half net loss greater than the 35 billion yen previously forecast.

Nintendo shares tumbled as much as 7.5 percent following the news, Reuters reports.

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Last month, Nintendo boss Satoru Iwata shot down the possibility of the company turning to mobile games development to boost its profits.

[ SOURCE: Reuters ]