Nintendo Co.’s prospects for meeting its profit and sales forecasts for this year are diminishing after Sony Corp. and Microsoft Corp. each sold more game consoles in 24 hours than the Wii U maker did in nine months.
Nintendo Co. cut the price of its Wii U video-game console by $50 and unveiled a new handheld player as the company tries to boost sales in the months before Sony Corp. and Microsoft Corp. release competing machines.
Nikko Cordial Corp. , the investment banking unit of Sumitomo Mitsui Financial Group Inc., said it hired a total of three analysts from JPMorgan Chase & Co., Citigroup Inc. and UBS AG to cover Japanese companies.
Japan’s government nominated BNP Paribas SA economist Ryutaro Kono to join the central bank’s policy board, drawing criticism from lawmakers concerned that he won’t support bolder action to end decade-long deflation.
Nintendo Co. President Satoru Iwata has pledged that the “Super Mario” game creator will post a 100 billion-yen ($1 billion) operating profit this fiscal year as new software titles boost sales. Analysts say he’ll fail.