Wii Remote maker profits soar
Mitsumi raises its annual outlook by 59 percent after substantial sales of Nintendo components.
Right now it seems to be nothing but good news for Nintendo. At the end of January, the company reported record results for fiscal-year 2006, shortly after raising its profit forecast by 20 percent for the year. Not only that, but the Wii is currently outselling the PlayStation 3 in Japan at a rate of four to one.
But it's not only Nintendo that benefits from this success--peripherals companies are reaping the rewards, too. Tokyo-based Mitsumi Electric, a manufacturer of human-interfacing devices, has raised its net profit forecast for the financial year ending March to 10.2 billion yen (approximately $84.54 million), reports Reuters. The 59 percent rise in the forecast is primarily due to the Mario factory, with results "far above market expectations" on sales of key parts for the DS and Wii.
The company expects sales to top 276 billion yen ($2.27 billion), up from its previous forecast by 15 billion yen ($123 million), and approximately 9 billion yen ($74 million) will come from game components.
Mitsumi, which was founded in 1954, is the maker of Nintendo's motion-detecting controller, and it also makes a variety of peripherals including remote controls, mice, keyboards, and other game controllers.
Mitsumi shares gained 96 percent in 2006, and it also enjoyed a 14.9 percent jump on the Nikkei to 3,090 yen ($25.5).
Got a news tip or want to contact us directly? Email email@example.com