Nintendo 2007 net, operating profits jump
Revenues up on sales of Wii, DS consolesTOKYO -- Nintendo more than doubled its operating profit to a record 487.2 billion yen ($4.7 billion) in the year ending March 31 on the back of booming global sales of its Wii and DS game consoles, the company said Thursday.
Operating profit was up 115% from the previous year's figure of 226 billion yen. Net profit jumped 47.7% to 257.3 billion yen on sales of 1.6 trillion yen, up 73%. All the figures represent new record highs for the Kyoto-based game specialist.
In addition to comprehensively outselling rival consoles from Microsoft and Sony, Nintendo has benefited from the fact that many of its top-selling software titles such as "Wii Fit" and "Smash Bros," are in-house productions.
Games like "Wii Fit," which launches May 19 in the U.S., and a host of educational titles for the DS, have broadened the consoles' appeal outside the traditional gamers demographic to attract women and older casual players.
Nintendo president Satoru Iwata said that the company is planning to increase production of the Wii console in the summer to 2.4 million units a month from the current 1.8 million, to keep up with continuing high global demand.