Overseas Sales Lead Nintendo Profits

Nintendo Co. Ltd. announced sales and financial figures for the '97/'98 fiscal year that ended March 31, 1998. Not surprisingly, the Nintendo 64 lead the company's assault on profits with overseas sales of the console unit numbering 8.91 million during the fiscal year. Since its launch in 1996, overseas sales of the console total 12.99 million units.

Sales within Japan during the recent fiscal year totaled 1.11 million units, which brings total domestic sales to 3.15 million units.

In software, overseas sales also lead the way with a total of 38.04 million units sold for the fiscal year. Domestic software sales totaled 8.04 million units.

The company said Thursday that it expects N64 sales in the coming year to reach nine million units overseas and two million units in Japan. Software is expected to reach sales of 54 million units during that same period. A Nintendo executive said that new software and an increase in advertising spending should help console sales in Japan.

Game Boy sales reached 11.02 million units worldwide in '97/'98. Nintendo says it expects to sell 11.5 million units in '98/'99. Nintendo is looking to the introduction of the Color Game Boy, as well as the Pokemon's debut in the American market, to help drive Game Boy sales.

On the financial side, Nintendo's group net profit rose to 83.7 billion yen (US$624 million), up 27.8 percent from the previous year. Profits for the parent company reached 125.45 billion yen (US$934 million), up 24.2 percent. Sales increasing by 25 percent to 431.8 billion yen (US$3.2 billion).