Nintendo Posts Record Profits in 2009
Just in case you didn’t already know it, the Wii is not so much a game console as it is a license to print money. We got some obvious proof of this today, when Nintendo posted the results of their 2008-09 fiscal year ending March 31, 2009.
According to their reports, Nintendo recorded over 1.8 trillion yen, or $18.1 billion in sales. That’s an increase from last year of ten percent. Moreover, they set a record profit mark, reporting 279 billion yen, or $2.82 billion, an increase of almost nine percent over last year.
In their fiscal statement, Nintendo offered up this, “The videogame industry, which was less impacted by the economic downturn than most industries, remained relatively stable in spite of the large consumer spending decline.”
It doesn’t hurt when you’ve got a console with continual demand and the hottest handheld on the planet. I’d also agree that the economic downturn hasn’t affected the games industry as much as others, but when venerable studios are closing their doors due to lack of funding, it’s still having an effect. It’s not wise for anyone, even a powerhouse like Nintendo, to make light of that.