Business | Feb 08

Nintendo Achieves Record Net Profit of 408 Billion Yen

TOKYO, Feb 08 (News On Japan) - Nintendo announced on Wednesday that its net profit for April to December last year surged by 17.9% to a record 408 billion yen, bolstered by the depreciating yen which expanded its earnings.

In contrast, Kao reported a decrease in both revenue and profit for the last year. While domestic sales of daily necessities grew, its cosmetics business in the Chinese market slowed down. The company mentioned that the release of treated water from the Fukushima Daiichi Nuclear Power Plant into the ocean has cast a shadow over its performance.

Tomoaki Kiuchi, an executive economist at Nomura Research Institute, commented on the situation: "The slowdown of China's economy is one factor. The political tensions between Japan and China over the past year have led to boycotts. Companies like Kao, which have significant business in China, are experiencing damage due to political influences."

This contrasting financial outcome highlights the diverse impacts of international business and political tensions on Japanese corporations. Nintendo has managed to reach new heights in profitability, leveraging favorable currency exchange rates. In contrast, Kao faces challenges in its overseas operations, particularly in China, where political tensions and consumer boycotts have negatively affected its business.

Source: ANNnewsCH

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