Nintendo’s profits fall 74% year-over-year

As Mario would say: Waaaaaagh!

Turns out 2010 wasn’t such a great year for Nintendo; the company’s profits have plummeted 74 percent year-over-year in the nine months leading up to December. 2009’s strong net income of 192.6 billion yen has fallen to 49.5 billion in 2010. The big N is blaming the figures on slower sales mixed with stronger yen that forced the company to revalue assets held in foreign countries.

Still, profit’s a profit, right? And besides, Iwata and co will likely breath new life into their brand with the release of the 3DS in late February for Japan, and March for the rest of the world.