Nintendo becomes 2nd most valuable company in Japan
As Wii and DS Lite sales continue to be strong, stock trading shot Nintendo past Canon, Inc.’s market value of 8.12 trillion yen. Company shares closed on Tuesday up 3.1% at 59,200¥, bringing Nintendo’s total market value to 8.39 trillion yen. Nintendo is now the second most valuable company in the home country, behind Toyota Motor Corp.
“At the Tokyo Game Show last week, Nintendo wasn’t there officially. But there were a lot of software companies who are dedicating software to Nintendo platforms,” said Hiroshi Kamide, KBC Securities analyst. “I think it’s reasonable to think that this Christmas Nintendo strategy of catering to both core and casual gaming markets will succeed again.”
Nintendo rise in the Japanese trading market has been attributed to the success of the Wii and DS. Stock values for Nintendo have quadrupled in the previous two years and continue to climb. Nintendo has a while before coming close to becoming the most valuable company in Japan, however, as Toyota’s value stands at 24 trillion yen.
