Tomy has cut its annual net profit forecast by two-thirds, blaming weak demand for toys as consumers spent more on Nintendo’s new consoles.
According to reports the firm said it now expects to post a group net profit of 1.7 billion yen ($14 million) in the year to March, down from its previous forecast for a 5 billion yen profit.
It said sales of character goods and card games for boys were sluggish in Japan because of the success of Nintendo's DS handheld game device and its next-generation Wii console (pictured), which has impacted demand for traditional toys.
The company left its sales forecast unchanged at 170 billion yen.
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