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Nintendo raises annual profit forecast

Nintendo has raised its full-year profit forecast by 26 percent because of higher-than-anticipated sales of Wii and DS.

The move has inspired the company’s shares to their biggest gain in nine months.

According to Bloomberg, Nintendo said Wii console sales will rise 42 percent this year and reversed projections that DS sales will drop.

Net income will climb 59 percent to 410 billion yen ($3.8 billion) in the year ending March 31st, the platform holder predicted today.

"This is a very big, positive surprise,” said Koichi Takatsuka, a senior fund manager at United Investments Co. in Tokyo. "It looks like Wii and DS are selling well, especially in Europe.”

Nintendo shares gained 8.4 per cent to close at 51,800 yen on the Osaka Securities Exchange following the news – the highest rise since November 14th, 2008.

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