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 Does a 62 percent rise year-on-year in profit sound pretty darn sweet? How about beating 17 top analysts expectations, or beating your own corporate forecast by 24%? It sounds very sweet to anyone owning shares in Nintendo Corporation, because they posted a record $2.2 Billion Dollars in earnings for the year ended March 31. Reuters Reports...TOKYO (Reuters) - Japanese video game maker Nintendo Co. is eyeing a record group recurring profit of 260 billion yen ($2.2 billion) for the year ended March 31 on strong sales of its handheld DS consoles and a weaker yen, the Nikkei business daily said on Friday. The figure, above a market estimate for a 242.4 billion yen profit by 17 analysts polled by Reuters, would represent a 62 percent rise year-on-year and would exceed Nintendo's previous forecast by 24 percent. Nintendo shares were up 1.2 percent at 34,750 yen at 0029 GMT, outperforming the benchmark Nikkei average, which was up 0.17 percent. The Kyoto-based company said on Thursday in its fourth outlook hike this year that earnings would exceed its January forecast on stronger-than-expected revenue of about 966 billion yen ($8.1 billion), but it did not give specific profit numbers. Nintendo, known for game characters like Mario and Pokemon, had forecast DS sales to reach 23 million units in the 2006/07 business year, more than double the expected shipments of Sony Corp.'s rival handheld PlayStation Portable for the same period. In February, Nintendo sold more than twice as many of its new Wii game consoles in Japan and the United States as Sony's competing PlayStation 3. The weak yen boosted the value of Nintendo's foreign-currency-based cash and other assets by 20 billion yen, the Nikkei said without citing sources. Nintendo eyes an operating profit of more than 200 billion yen, which compares with Nintendo's previous forecast of 185 billion yen, and a net profit of about 145 billion yen, about 25 billion yen higher than its January outlook, the paper said. The company is likely to raise its dividend to 550 yen per share or higher, from its dividend of 390 yen for the business year ended March 2006, the paper said. Add this page to your favorite Social Bookmarking websites           
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