“We incurred temporary one-off expenses from the purchase of technology that we did not expect at the beginning of the fiscal year.”
☆ NintendObs Event – Nintendo FY3/2014 Presentation.
Thank you for attending our Financial Results Briefing despite your busy schedules. I am Satoru Iwata, president of Nintendo.
Tatsumi Kimishima has just explained the financial figures. So, from me…
Please let me comment on the operating losses for three consecutive years.
Two and three fiscal years ago, the extremely strong yen and transition between our video game platforms mainly put our revenue and expenses off balance. For the last fiscal year, under the improved foreign currency exchange situation, we made various efforts to retrieve “Nintendo-like” profits. We, however, could not achieve these results as the sales of our main hardware and software products ended up being well below our forecasts, and we incurred temporary one-off expenses from the purchase of technology that we did not expect at the beginning of the fiscal year. I feel deeply responsible for this and I need to fulfill my responsibility by recovering the momentum of our business.
We would like to retrieve “Nintendo-like” profits as soon as possible. However, the success of a video game platform business depends greatly on its momentum, and it inevitably takes time to rebuild the business once the platform has lost its momentum.
Posting an operating loss for the fourth fiscal year running is something unacceptable. We see this fiscal year as a time to prioritize restoration of the balance of revenue and expenses.
— Satoru Iwata, President of Nintendo
Source: Nintendo JP.
Click here for Part 2.
At NintendObserver, the comments are on Discord.
Click on Community to learn more. 🙂
…
…Wanna play? Buy a Wii U.
And if you’ve already got yours, here are all the games already available on the platform. 😀
