It's no secret that the N64 isn't selling very well in Japan - but the Game Boy, which has come back to life thanks to the game Pocket Monsters, is. In the US, the Nintendo 64 is doing extremely well, and - from the look of Nintendo's profits in the 1997/98 business year, that's all it really needs.
The company said Thursday that it will post current group profits of 160 billion yen for the business year ended March 31 (US$1.2 billion), a 46 percent rise from the previous year. Nintendo forecasts that its profits will grow another 10 percent to a record high in the '98/'99 year. It's expected that Nintendo will aggressively market the N64 in Japan and also launch the 64DD within the current fiscal year ending next March.
Nintendo stock rose 300 points to 11900 during Thursday's trading session on the Tokyo Stock Exchange, due to the higher-than-expected profit announcement.
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