Asia

Nintendo sinks into bigger quarterly loss on weak sales

Japanese video-game maker Nintendo Co. is reporting a 24 billion yen ($216 million) loss for January-March, bigger than the loss it reported the previous year.

Quarterly sales fell 26 percent on-year to 78.8 billion yen ($708 million) as overseas revenues were hurt by a stronger yen.

It racked up a nearly 18 billion yen quarterly loss the previous year.

The Kyoto-based company behind Pokemon and Super Mario games said Wednesday it expects to recover to a 35 billion yen ($314 million) profit for the fiscal year ending in March 2017.

For the fiscal year just ended, it earned 16.5 billion yen ($148 million), down 61 percent from the previous fiscal year.

Recent sales of Nintendo's Wii U machine have lagged rivals Sony's PlayStation 4 console and Microsoft's Xbox One.