Nintendo’s chief is determined to get right the launch of its next game machine, Wii U, set for this year’s holiday shopping season, and acknowledged Friday some mistakes with selling its 3DS handheld.
But Nintendo Co. President Satoru Iwata warned earnings for the fiscal year set to begin April will be the toughest ever for the Japanese manufacturer behind the Super Mario and Pokemon games. Iwata’s remarks come a day after it lowered its annual earnings forecast to a 65 billion yen ($844 million) loss, much larger than the 20 billion yen ($260 million) loss projected earlier. It posted a 77.62 billion yen profit the previous fiscal year. Iwata blamed the strong yen, which erases overseas earnings, as well as the arrival of smartphones and other devices that offer gaming. The higher yen slashed nearly 54 billion yen ($701 million) from the company’s operating profit for the April-December period.
