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Nintendo swings back to profit of $88m

Tokyo - Japan's Nintendo said Wednesday it had swung to a profit of $88m in the three months to June as a weakening yen helped its overseas results.

The net profit of ¥8.62bn reversed a loss of ¥17.23bn a year earlier. The maker of the Wii games console kept its forecast unchanged at a ¥55bn profit for the fiscal full-year to March.

But it said sales in the three months to June fell 3.8% on-year to ¥81.55bn as demand for its new Wii U console came in below expectations.

A sharp decline in the value of the Japanese currency since late last year has helped results for Japanese exporters as it inflates the value of repatriated foreign income.

Kyoto-based Nintendo, which created the Donkey Kong and Super Mario games, said it expects to earn ¥55bn in the year to March.

The results came after the game maker reported a widening operating loss to ¥36.4bn for the fiscal year to March 2013, due to the poor performance of its 3DS and Wii U consoles.

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