Report: Nintendo To Post $1.3B Pre-Tax Loss For Fiscal Half Year Tomorrow

Nintendo is preparing to reveal a ¥100 billion ($1.32 billion) pre-tax loss as part of its half yearly financial results tomorrow, according to media reports. As reported by Japanese newspaper Nikkei, and translated by Andriasang, exchange rates make up a huge part of why the loss is far greater than Nintendo had originally estimated. Overall, the strength of the Yen against the Euro accounts for ¥40 billion ($526.16 million) of the total loss, according to the newspaper report. This total figure is nearly double Nintendo's original estimate of a ¥55 billion ($723.47 million) loss for the fiscal half. This compares to the net loss of ¥25.5 billion ($324.1 million) that Nintendo previously reported for the fiscal quarter ended June 30, meaning that Nintendo has potentially seen a loss of around ¥74.5 billion ($979.97 million) in the last quarter. Last week, analysts said that they expect Nintendo to report revenues well below its initial financial guidance when it reports its Q2 results tomorrow. The company's current guidance projects revenues of ¥175 billion ($2.3 billion) for the quarter ending September 30, versus an analyst consensus of around ¥146 billion yen ($1.91 billion).