Nintendo hits 2-week low after forecasting second year of losses

TOKYO Wed Jan 30, 2013 7:15pm EST

TOKYO Jan 31 (Reuters) - Shares of Nintendo Co Ltd dropped as much as 5.7 percent to 8,820 yen, hitting a two-week low in early trade on Thursday, after the video game company said it would post an operating loss for a second straight year.

The Kyoto-based company surprised investors by predicting a loss of $220 million in the year ending March 31, reversing a profit forecast for the same amount, as sales of the Wii U, the successor to its Wii console, faltered. (Reporting by Dominic Lau; Editing by Chris Gallagher)