Summary: Nintendo raised its first-half and full-year profit outlook as well as increased its year-end dividend based on strong sales of its DS handheld game console and related games, in addition to seemingly higher estimated sales for its forthcoming Wii console. Nintendo also cited larger-than-anticipated profits from a weaker yen. Group net profit for its fiscal year ending next March is now expected to be 20% higher at 100 billion yen ($850m). Group sales are seen coming in at 740 billion yen or about 16% higher than its prior estimate. It boosted its dividend by 25% on an annual basis.
Related links: Full WSJ article • Reuters coverage • Significance of the Surprisingly Weak Yen • Why the PlayStation 3 Will Bankrupt Sony • Nintendo: Solid Business, Share Price Too High • Sony's Headache: Nintendo Wii Launch Dates, Prices Announced • Nintendo Wii Anticipation Drives Shares to Multi-Year Highs • MoSys and Nintendo: A Match Made in Gaming Heaven • Nintendo Posts Strong Q1, Boosts Full-Year Forecast • Nintendo Dominates First Half Game Sales in Japan
Potentially impacted stocks and ETFs: Microsoft (NASDAQ:MSFT), Sony (NYSE:SNE), Konami (NYSE:KNM) and MoSys (NASDAQ:MOSY)
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