Analysts had forecast a loss around a tenth of that size.
Part of the problem for this financial year is undoubtedly the launch of the hand-held 3DS console. A sharp price cut followed a couple of months after it came out and although it's done well over Christmas, this was only after a lot of discounting.
Nobody should blame Nintendo alone for this. This time last year not only the game industry but the television industry as pushing 3D as a huge phenomenon and the market appears simply to have said "thanks but no thanks".
Then the company previewed its Wii U, the next generation console. This will be out by Christmas, doesn't exist in volume yet, looks like an iPad dedicated to games only - but the market reaction was a bit "meh" (technical term) and the share price took a tumble when the analysts saw it.