Nintendo raises net profit forecast on Switch console and yen

Nintendo upgraded its annual net profit estimate by more than 40 per cent Wednesday after its popular Switch console flew off shelves during the holiday season, fuelled by a cheaper yen.

The Kyoto-based video game giant said it now expects an annual net profit of 120 billion yen ($1.1 billion), a 41.2 per cent rise from the previous estimate issued in October, while also increasing annual sales and operating profit projections.

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The company cited strong sales of Switch as lifting its performance during the April-December period.

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