Wii U, 3DS miss targets in Nintendo annual results

Nintendo released its financial earnings today for the fiscal year that ended on March 31, with an operating loss of 36.4 billion yen (approximately $366 million). This is the second annual loss in Nintendo's history, after last year's $460 million. The company attributes the loss to weaker than expected sales of the Wii U and 3DS.

In a release (PDF), Nintendo stated that the Wii U "was not able to maintain the initial sales momentum after the beginning of 2013 due to a delay in the development of subsequent software titles." Nintendo reported that it sold 3.45 million since launch. In January, the company had revised its Wii U sales forecasts from 5.5 million to 4 million. The 3DS sold 13.95 million units, and Nintendo called it the leading platform in Japan. Globally, however, the games "did not generate sufficient sales momentum."

Nintendo says it sold 13.4 million units of Wii U software in total, with New Super Mario Bros U and Nintendo Land accounting for 2.15 and 2.6 million, respectively. Nintendo 3DS moved 49.6 million units of software worldwide, and Nintendo pointed out that New Super Mario Bros 2 hit 6.42 million units alone.

For the fiscal year ending March 31, 2014, Nintendo is aiming for 920 billion yen in net sales, and 100 billion yen in operating income. For the 3DS, the company says it will concentrate on key 3DS releases like Pokemon X/Y, Animal Crossing: New Leaf, and continue to boost digital sales, as it recently made a point of showing. For the Wii U, Nintendo says it plans to proactively release key titles to regain the lost momentum from software delays.