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Nintendo: Sales tracking below forecasts, weak yen drives profit
Nintendo reduced its annual sales forecast by 6.8 percent today, leading to a 50 percent drop in the projected operating profit for its core business. Nonetheless, the ever-weakening state of the yen is balancing that out by boosting the company's overseas earnings. According to its revised forecast, Nintendo now expects to earn a net profit of ¥30 billion for the fiscal year ending March 31, 2015, which converts to around $255 million. That's up 50 percent from the company's previous projections, and a sharp contrast to the $229 million loss posted the previous fiscal year.
