Nintendo reports 1H net loss, slashes forecast

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TOKYO (AP) — Japanese game maker Nintendo Co. has reported a worse-than-expected net loss of 70.3 billion yen ($925 million) for the six months through September, blaming the strong yen and weak software sales.

The maker of the Wii game console and DS handheld also slashed its forecast for the full year through next March to a 20 billion yen ($263 million) net loss, it said in a statement Thursday. In July, it had predicted an annual net profit of 20 billion yen.

Nintendo is battling increased competition from mobile phones that offer simple games.

The strong yen has also eroded income from overseas markets, which account for nearly 80 percent of its sales.