[ad_1]
Sign up for GI Daily here to get the biggest stories delivered straight to your inbox
Yesterday, Nintendo’s stock price reached an all-time high amid a sharp rise in stock prices on the Nikkei market.
Nikkei Asia, discovered by VGC, reported that the platform holder’s stock price rose to 7,902 yen ($54) at one point, representing a 5% increase from the previous day.
This brought Nintendo’s market capitalization to 10 trillion yen ($69 billion) for the first time since November 2007, one year into the Wii’s lifecycle.
The stock’s rise is due to expectations for the Switch 2 (or whatever the company’s next console is called), which is widely expected to hit stores by the end of the year.
This is also due to speculation about possible further investment from Saudi Arabia, whose Public Investment Fund has recently increased its stake in Koei Tecmo.
Saudi Arabia’s PIF has increased its stake in Nintendo over the past few years, and currently holds an 8.26% stake, making it one of the platform holder’s largest shareholders.
Other factors include the continued success of Nintendo’s IP business, with Nintendo-themed areas in Universal Studios theme parks around the world, and the success of Super Mario Bros. Movie, which was second only to Barbie this year. It ended in 2023 as the second highest-grossing film.
A sequel is expected, and Nintendo announced a live-action Legend of Zelda movie in November.
Nintendo’s rise contributed to the rise in the Nikkei Stock Average, which reached 2.01% on Wednesday, its highest level since February 1990.
The Switch 2 made headlines during analysts’ annual roundup of predictions for the year ahead, with Kantan Games’ Dr. Serkan Toto calling the console “more of an iteration than a revolution” when compared to the original Switch. suggested that it is likely to be. He also suggested that a $70 game could cost $400.
meanwhile, GamesIndustry.biz‘s Chris Dring looked at the market the Switch 2 is entering and the advantages it lacks compared to the current Switch in an opinion piece earlier this week.
[ad_2]
Source link
