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Nintendo swings to profit in fiscal Q2

Nintendo Co. Ltd. said its normalized net income for the fiscal second quarter ended Sept. 30 amounted to ¥186.58 per share, compared with a loss of ¥66.26 per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was ¥22.09 billion, compared with a loss of ¥8.47 billion in the year-earlier period.

The normalized profit margin climbed to 22.8% from negative 7.4% in the year-earlier period.

Total revenue declined 15.9% on an annual basis to ¥96.70 billion from ¥115.03 billion, and total operating expenses fell 34.4% on an annual basis to ¥87.45 billion from ¥133.39 billion.

Reported net income came to ¥24.22 billion, or ¥204.64 per share, compared with a loss of ¥8.02 billion, or a loss of ¥62.75 per share, in the year-earlier period.

As of Nov. 14, US$1 was equivalent to ¥116.46.