Nintendo Hit Hardest By Rising Yen
Many companies posted exchange related losses, but Nintendo beat them all.
One of the recurring themes in the financial reports from the past couple of weeks is that the rising yen lead to losses. This was a particular issue for Nintendo, whose operating income turned into a net loss due in large part to a 62.1 billion yen foreign currency exchange loss.
It turns out that Nintendo's currency related loss wasn't just standout amongst fellow game companies. As reported at Sankei Biz on the 9th, Tokyo Shoko Research did a study of 813 Japanese companies that shared midterm earnings and found that 323 had such losses. Of these 323, Nintendo's loss was the highest.
Other companies that posted exchange related losses included Mitsubishi Heavy Industries with 14 billion yen and Fujitsu with 10.2 billion yen. The total loss for the 323 companies over the first six months of the year was 269.5 billion yen, 2.3 times the amount of the same period last year.
Fifty-four companies, including Sony, recorded exchange gains totaling 35.5 billion yen.
For more on this year's midterm earnings, see this topic page.