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Sales are up but profits are down in latest Nintendo financials

Nintendo has posted new financials for the six-month period ending September 30, and it's something of a mixed-bag for the Kyoto-based company.

Nintendo has posted new financials for the six-month period ending September 30, and it's a mixed-bag for the Kyoto-based company, which recently appointed Tatsumi Kimishima as its CEO following the passing of Satoru Iwata. 

The results show that although net sales rose by 19.1 percent from the same time last year, increasing to 204.2 billion yen ($1.69 billion) from 171.4 billion yen ($1.43 billion), profits actually took a hit, dropping by 19.8 percent from 14.3 billion yen ($118 million) to 11.5 billion ($95 million) year-over-year. 

Looking ahead to the end of the fiscal year, which draws to a close on March 31, 2016, Nintendo's financial forecast shows that the company expects net sales to reach 570 billion yen ($4.7 billion), a 3.7 percent increase on last year's total.

The Japanese giant has also predicted that net profit will decrease by 16.4 percent, falling to 35 billion yen ($289 million) by March next year.

Nintendo's strong sales were boosted by the performances of a number of first-party titles, with the combined sales of Splatoon, Super Mario Maker, and Animal Crossing: Happy Home Designer, now totaling 6.32 million worldwide.

Correction: USD conversions were off due to a decimal misplacement. Sorry for any confusion!

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