Nintendo Raises Profit Forecast
Due primarily to the success of the Wii, Nintendo has increased its profit forecast for the fiscal year ending March 31, 2007. The forecast has been raised by a whopping 20 percent to 120 billion yen (approximately $1 billion) from 100 billion yen ($839 million). Nintendo has also raised sales forecasts for all hardware and software products excluding the Wii. Wii software sales were raised from 17 million units to 21 million units. Nintendo DS and DS Lite sales moved from 20 million to 23 million units and DS software titles expanded from 82 million to 100 million units. In addition, Nintendo shares rose 2.3 percent at today’s close of the Nikkei, the Tokyo Stock Exchange.