Nintendo Reports Rise in Earnings

While Japanese manufacturing stalwarts such as Toyota and Hitachi suffered the blows dealt by a global economic crisis, video game-powerhouse Nintendo reported an annual profit rise of 8.5 percent. The gain, fueled by sales of the Wii and DS game systems, allowed company president Satoru Iwata to proclaim that his company is "recession free."

The optimistic boast is backed by a net profit of $2.8 billion for the fiscal year ended March 31, reported Yahoo News.

Nintendo released a statement that explained, "The video game industry, which was less impacted by the economic downturn than most industries, remained relatively stable in spite of large consumer spending decline."

BBC News was quick to point out that although the rise in profits was higher than expected, the 8.5 percent increase was drastically lower than the 47.7 percent spike enjoyed by Nintendo in the last fiscal year. This dour observation hasn't prevented Nintendo from predicting a continued rise in sales, with the firm saying it expects net income to reach 300 billion yen, or $2.98 billion in the coming year.

In times of economic distress, entertainment industries, such as movies and video games, seem to take less impact. The Wii, with its innovative interface, has sold over 50 million units since its launch in late 2006. The popular DS handheld system has sold over 100 million.