Nintendo today reported its year-end fiscal results for the year ended March 31. As expected, the company’s profits took a hit, sliding 18.1 percent to 228.6 billion yen ($2.5 billion). This represents the first time in 6 years that Nintendo’s profit has fallen. Annual sales also declined considerably, decreasing 22 percent to 1.434 trillion yen ($15.4 billion).
Nintendo blamed these declines primarily on the “results of year-on-year decreases in Wii hardware and Nintendo DS hardware and software sales, a price cut for Wii hardware, and the significant impact of a stronger yen.” Fiscal 2011 is anticipated to be tough for Nintendo as well. The company said it’s expecting sales to fall 2.4 percent to 1.4 trillion yen ($15 billion) and net income to drop 12.5 percent to 200 billion yen ($2.2 billion). See Industry Gamers for more.