As predicted, Nintendo's profits are down this year

Nintendo predicted in April that their profits this year would be half of what they earned in the year 2002/2003. o it comes as no surprise that their net profits in 2003/2004 are down to 33.2 billion yen compared to 67.3 billion yen on the last year.

It was the currency markets this year that really damaged Nintendo, with their Yen assets being measured in Dollar value and the falling value of the Dollar against the Yen led to a one time loss of 70 billion Yen on their profits this year. Interesting to note that had they not made this currency loss, Nintendo would have seen net group profits almost up by a third on last year.

All in all, this could be worse for Nintendo. Prior to this announcement, shares went up by around 0.5 % which won't annoy investors at all.

Critics may like to note: Nintendo made a PROFIT, not a loss on earnings. So please keep this in mind before writing a "This Is The Doom Of Nintendo" diatribe.