Nintendo sinks into loss on weak sales

By: The Associated Press
By: The Associated Press

Nintendo Co. sank into a 43.2 billion yen ($533 million) loss for the fiscal year just ended as weak sales of the Wii home console and the strong yen eroded earnings.

Kyoto-based Nintendo, once the star of video games with franchises like Pokemon and Super Mario, has seen its glory fade with the advent of smartphones that are wooing away casual gamers.

Nintendo, which did not break down quarterly numbers, had reported a 77.6 billion yen profit the previous fiscal year.

A strong yen erodes the value of overseas earnings of Japanese manufacturers like Nintendo.

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