Nintendo Co. is under pressure to consider ending production of video-game machines after reporting disappointing sales of its Wii U console and forecasting a surprise loss, prompting its stock to tumble.
Nintendo Co. President Satoru Iwata, who tripled revenue by introducing hits like the Wii console, is coming under fire from some investors and analysts after the company’s latest game machine flopped.
Japanese shares gained for a second day, with the Topix Index extending a 4 1/2-year high, as utilities climbed on optimism nuclear power plants may be restarted and Nippon Yusen KK and Osaka Gas Co. advanced on prospects for U.S. shale gas imports.
Olympus Corp. will cut about 7 percent of its workforce and may consider an alliance as the Japanese camera maker seeks to recover after writing down assets following a $1.7 billion accounting-fraud scandal.
Olympus Corp., the Japanese camera maker that admitted a 13-year accounting fraud, predicted an annual loss that was worse than analysts’ estimates as it wrote off equipment damaged by Thailand’s record floods.