Nintendo president Satoru Iwata says the firm will bounce back from a tumultuous early 2013 with "Nintendo-like profits" by the end of its current fiscal year.

Nintendo has struggled with Wii U's underperformance at retail globally, which it blamed on "the release of few key first-party titles ... to strongly drive the hardware sales".

In the firm's latest annual report, Iwata says the firm is "striving" to return to strong profits by the end of its current fiscal year ending March 2014 by way of its impending line-up of strong software releases.

"Nintendo posted an operating loss for the fiscal year ended March 31, 2013," admitted Iwata. "However, we strive to regain 'Nintendo-like' profits for the fiscal year ending March 31, 2014 by providing many people with fascinating games and services."

He went on, "We continue to make brand-new and unique proposals, and make efforts for the growth of the home entertainment industry with a mission that is to pleasantly surprise people and put smiles on the faces of everyone Nintendo touches."

While Wii U sales during Nintendo's first financial quarter (ending June 30) totalled just 160,000 units worldwide, software sales in the quarter came in at just over one million, taking lifetime software sales for the console to 14.44 million. That means the current Wii U attach rate is at about four games for each console - an encouraging sign, and one which suggests the Wii U install base is predominantly core gamers.

Nintendo's financial performance was also encouraging, with net profits of 8.6 billion yen (£57m / $88m), thanks largely to the strong performance of Nintendo 3DS. Hit that link for full details.

Posted: Aug 06, 2013 6:59 pm
Related Forum: Gaming Discussion

Source: http://www.computerandvideogames.com/422917/nintendo-boss-strives-for-return-to-form-by-march-2014/