Nintendo Slashes Profit Outlook

Nintendo Co. slashed its full-year profit outlook by 70 percent%, weighed down by weaker-than-expected demand for its 3DS handheld game machine, the strong yen, and manufacturing costs associated with the introduction of its first new home console in six years.

The Japanese videogame maker said Wednesday it now expects a net profit of ¥6 billion ($75.17 million) for its fiscal year to March from an earlier projection for a ¥20 billion profit. It also reduced its full-year revenue outlook to ¥810 billion from a previous target of ¥820 billion.

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