Nintendo Slumps After Tripling Annual Loss Forecast: Osaka Mover
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Nintendo Co., the world’s largest maker of video-game machines, slumped to an eight-year low in Osaka trading after tripling its loss forecast as the success of rival Apple Inc. devices erodes demand for its 3DS player.
Nintendo dropped as much as 7.8 percent to 9,910 yen, the lowest level on an intraday basis since February 2004. The stock traded 4.5 percent lower at 10,270 yen as of 2:43 p.m. on the Osaka Securities Exchange.