Nintendo’s annual profit down 18 percent

Nintendo is reporting that its annual profit has fallen for the first time in six years, hit by a price cut on the Wii home console and sliding global sales.

Kyoto-based Nintendo Co., which did not break down quarterly numbers, said Thursday its net profit for the fiscal year ended March 31 fell 18 percent to 228.6 billion yen ($2.5 billion).

It had a net profit of 279 billion yen the previous fiscal year.

Sales slipped 22 percent to 1.434 trillion yen ($15.4 billion).

Associated Press