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Nintendo to post £823 million loss - report

Shares tumble ahead of tomorrow's financial results

Nintendo is expected to reveal a pre-tax loss of 100 billion yen (£823 million) tomorrow when it reports its financial results for the first half of the year ended September 30.

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Japanese business publication Nikkei said the firm incurred 40 billion yen in foreign exchange losses, mostly against the euro, and that it's likely to post a first half net loss greater than the 35 billion yen previously forecast.

Nintendo shares tumbled as much as 7.5 percent following the news, Reuters reports.

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Last month, Nintendo boss Satoru Iwata shot down the possibility of the company turning to mobile games development to boost its profits.

[ SOURCE: Reuters ]

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