Nintendo Shares Hit Highest Point Since 2008
posted on by Rafael Antonio Pineda
The Financial Times newspaper reported on Wednesday that, as of that day, Nintendo Co, Ltd.'s shares in the Japanese market gained 3.2 percent to close at 31,880 yen (about US$285), the company's highest closing level since 2008. The company closed higher than its previous peak on July 20 last year, when Niantic Labs released its Pokémon Go game. However, shares dropped by 18 percent the following week after Nintendo noted that the game's impact on its annual net income would be limited, as it did not develop the game.
Shares are up 29.9 percent so far this year, compared to 3.7 percent over the same period last year. The company has a current market capitalization of US$39.1 billion, making it the 19th-biggest listed company in Japan.
Nintendo had the biggest daily turnover in Japanese stock market history this century on July 15 last year when it traded 476 billion yen (US$4.5 billion at the time) worth of shares.
Nintendo released its Switch console worldwide on March 3, and also released The Legend of Zelda: Breath of the Wild alongside the console's launch.
The Pokémon Go app launched in select countries including the United States in July 2016, and has since launched in more than 50 countries.
Source: Financial Times (Peter Wells)