Visit to Nintendo HQ

Last week I visited Ninteno's HQ just outside Kyoto. The guys there are generally positive, (as you would expect from such a dominant company), however the strong Yen is hurting them;


Nintendo profit down 60.6 percent in April-June
TOKYO (AP) -- Nintendo Co. reports that its net profit tumbled 60.6 percent in the April-June quarter from last year, hurt by a stronger yen and fewer blockbuster games. The Kyoto-based maker of Pokemon and Super Mario games posted net profit of 42.3 billion yen ($445.2 million), down from 107.3 billion yen during the same period a year earlier. Sales declined 40 percent to 253.5 billion yen, while operating profit - a measure of its core business - fell 66 percent to 40.4 billion yen. It left its forecasts unchanged for the full year through March 2010. It continues to expects net profit of 300 billion yen on 1.8 trillion yen in sales.

FDI Into Japan Reaches Record High for Second Straight Year in 2008

Net FDI into Japan (balance of payment basis) reached a record high for the second consecutive year in 2008, reaching US$24.5 billion, up 10.7% from US$22.1 billion recorded the previous year. This is on a gross capital inflow of US$73.2 billion, a record, and a gross capital outflow of US$48.6 billion, which is not far behind the US$52.5 billion recorded in 2006. The high inflow was led by additional investments made by financial institutions and companies seeking to boost the capital of their Japanese subsidiaries, while deteriorating economic conditions in industrialized nations may have played a factor in the high outflow figure.

Nissan will create hundreds of new jobs with a £200 million investment to build electric batteries.

The investment means the Sunderland plant is a contender to manufacture the group's new "greener" electric vehicles.
The Prime Minister said: "Nissan's investment in a new battery plant and its hope to start producing electric vehicles here in Sunderland is great news for the local economy, creating up to 350 direct jobs and creating and safeguarding hundreds more in the associated supply chain.

The Government said it would support the investment by offering grants and loan guarantees, including support through its Automotive Assistance Programme.