• Kyodo News

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Nintendo Co. said Thursday it has upgraded its group sales projection for fiscal 2006 because of robust sales of hand-held video game consoles and software.

Nintendo expects 966 billion yen in consolidated sales for the business year that ended in March, up 66 billion yen from its projection Jan. 10.

Nintendo also expects higher group operating, pretax and net profits than what it projected in January, the company said.

Nintendo, however, did not provide new profit figures and said it was still compiling the data. In January, the firm said it expected a 210 billion yen pretax profit and a 120 billion yen net profit.

The company is scheduled to announce business 2006 earnings results on April 26.

The company said it expects to post a foreign-exchange gain of 20 billion yen for business 2006, compared with its earlier forecast of a 10 billion yen loss, thanks to the euro’s larger-than-expected rise against the yen.

The gains came mainly from Nintendo’s holdings of euro-denominated deposits. The company expected the euro to average 143 yen in the business year, but the unified European currency traded at 157.33 yen on March 30, the last business day for business 2006, it said.

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