Report - Nintendo to post huge first-half losses

Japanese newspaper Nikkei is reporting that Nintendo is set to report losses as much as ¥100 billion (£823 million/$1.32 billion) for first-half 2011 as part Q2 financials tomorrow morning.

The company had previous predicted a loss of ¥55 billion (£453 million/$724 million) for the period between April and September of this year.

Share prices in the company dropped 7.5% to ¥10,800 following the report from Nikkei. The paper claimed Nintendo will write down ¥40 billion in foreign exchanges lost against a weakening Euro.

Nintendo, who refused to comment on the paper's story (via Reuters), cut its full-year operating profit earlier this year to ¥35 billion in the wake of the price-cut given to 3DS in August.

The full Q2 financials will be out tomorrow morning.