Nintendo To Post First Annual Loss, Grossly Underestimates Losses

Remember all those "It prints money" pictures of Iwata and Miyamoto laughing all the way to the bank? That shit is in the past.

Nintendo vastly undershot estimated losses for the fiscal year… by about 40 billion yen. Nintendo originally forecast a loss of 4.2 billion yen, but has increased expectations expotentially to 45 billion yen.

Nintendo President Saturo Iwata attributes the higher than expected losses to lower than expected hardware sales through the holiday season:

We had higher expectations for the year-end season, but failed to meet them.

This is the first annual loss Nintendo has posted in thirty years.

[Source]