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Nintendo Posts 55 Pct Drop in Quarterly Net Profit

Nintendo Posts 55 Pct Drop in Quarterly Net Profit

   Kyoto, Aug. 2 (Jiji Press)--Nintendo Co. said Friday that its consolidated net profit dropped 55.3 pct to 80.9 billion yen in the fiscal first quarter ended in June from a year before due mainly to sluggish sales of video game consoles.
   The Japanese company was also squeezed by growing research and development expenses and a weak yen that pushed up foreign currency-denominated costs when converted into the Japanese currency.

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AFP-JIJI PRESS NEWS JOURNAL


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