Summary Box: Nintendo’s losses grow

0
22

THE RESULTS: Japanese game maker Nintendo Co.’s net loss grew to 70.3 billion yen ($925 million) for the six months through September, battered by the strong yen and weak software sales.

THE OUTLOOK: The company slashed its forecast for the full fiscal year, which ends in March, to a 20 billion yen ($263 million) net loss. In July, it had predicted net profit of 20 billion yen.

THE BACKDROP: Nintendo scored success by courting casual gamers, but it is now battling increased competition from Apple Inc.’s iPhone and other devices that offer simple games.