Nintendo has posted a bleak net sales outlook for last quarter, which ran from April 1st to June 30th. The company only posted 62 billion yen ($587.8 million), which is a drop of just shy of 32% from the same period in 2015.
Nintendo says the massive operating loss is a result of a stronger Japanese yen, which they say caused exchange losses of about 35 billion yen ($332 million).
The exchange rate doesn’t account for the entire loss though, and flagging Wii U sales are a pretty good answer for what’s going on. Only 220k Wii U units were sold worldwide in that period, which is a 53% drop over the same period last year. Nintendo 3DS sales also dropped by 7%, so Nintendo’s new console can’t come fast enough.